Interest Calculation. If a daily balance on your Account is subject to an APR, we will charge interest on that daily balance. We use the average daily balance method (which includes new Transactions) to calculate the interest charge on your Account. If interest applies to a balance, it will start applying on the day a charge is added to that balance and continue until that balance is paid in full. We multiply each daily balance by its applicable daily periodic rates (each applicable APR divided by 365). We do this for each day in the Billing Period. This gives us the daily interest amounts. Then we add up all the daily interest amounts for all the daily balances. This gives us the total interest for the Billing Period. Your balances, and their corresponding APRs, are shown on your periodic statement. GRACE PERIOD: You will not pay any interest on Purchases if you pay the Account Balance, including any Balance Transfers, in full by the Payment Due Date shown on your periodic statement each Billing Period. We call this a grace period on Purchases. Generally you will have at least a 25-day grace period from the close of each Billing Period to pay the Account Balance without incurring additional interest. The Payment Due Date disclosed on each periodic statement provided to you is the last day of your grace period for that statement’s billing cycle. If you do not pay the Account Balance, including any Balance Transfers, in full by the Payment Due Date in a Billing Period, you will pay interest on your Purchases from the date they are posted to your Account. You also will not have a grace period on Purchases again until you pay the Account Balance in full by the Payment Due Date two
Interest Calculation has the meaning set forth in Section 8.4.
Interest Calculation. The Time Deposit Account will earn simple interest based on an Interest Rate and Annual Percentage Yield (APY) calculated using the Daily Balance Method. Interest will be paid at maturity of the Time Deposit Account. Nevertheless, we reserve the right, at our sole discretion and from time to time, to change the interest rate and Annual Percentage Yield (APY).
Examples of Interest Calculation in a sentence
The Interest Calculation Agent may not resign its duties without a successor having been appointed as aforesaid.
The Interest Calculation Agent will, as soon as practicable after the Relevant Time on each Interest Determination Date, determine the Interest Rate and calculate the Interest Amounts for the relevant Interest Period.
The Issuer will procure that, so long as any Note remains outstanding, there shall at all times be at least four Reference Banks with offices in the Relevant Financial Centre and an Interest Calculation Agent if provision is made for them in the Constituting Instrument.
The determination of the Interest Rate and the calculation of the Interest Amounts by the Interest Calculation Agent shall (in the absence of manifest error) be final and binding upon all parties.
If the Interest Calculation Agent is unable or unwilling to act as such, the Issuer will, with the prior written consent of the Trustee, appoint the London office of a leading bank engaged in the London interbank market to act as such in its place and its determination shall be final and binding on the parties.
More Definitions of Interest Calculation
Interest Calculation. Interest payable on each payment date = ∑ (principal amount of daily loan× / %/360), the computing interval of “∑” is from the latest interest settlement date (including) to this interest settlement date of interest (excluding). The last computing interval is the neighboring latest interest settlement date (including) to this interest settlement date of interest (excluding).
Interest Calculation has the meanings set forth in Section 4.1(e).
Interest Calculation. We Use a method called “Average Daily Balance” (excluding new Purchases). The Interest Charge Calculation Method applicable to Your Account for credit Purchases of goods and services that You obtain through the use of Your Card is specified and explained below: Purchases: Average Daily Balance (excluding new Purchases). The interest charges for a billing cycle are computed by dividing the Annual Percentage Rate (APR) by 365 or 366 (leap year) and applying to the Average Daily Balance. To get the Average Daily Balance, We take the beginning balance of Your Account each day, subtract any payments, credits, non-accruing fees, and unpaid interest charges. We do not add in any new Purchases. This give Us the daily balance. Then We add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. To avoid incurring an interest charge on the balance of Purchases reflected on Your monthly statement and on any new Purchases appearing on Your next monthly statement, You must pay the Outstanding balance shown on Your monthly statements on or before the Payment Due Date. The grace period for the Outstanding Balance of Purchases extends to the Payment Due Date. Grace Period on Purchases: You will not pay interest on Purchases if You pay the Outstanding balance by the Payment Due Date. If Your payment is not received by the Payment Due Date, interest will be calculated for existing and new Purchases using the Average Daily Balance method. MONTHLY PAYMENT We will send You a billing statement every month showing Your previous balances of Purchases, Transactions and, any other fees, the remaining credit available under Your credit limit, the new balances of Purchases, the total new balance, the finance charges due to date on Your Account. You must pay the Outstanding Balance no later than the Payment Due Date shown on Your billing statement to avoid a Late Payment Fee and interest charges. We will also add any past due amount, including any Late Payment Fees to Your Outstanding Balance. For Your payment to be considered on time, the payment must be received by the Payment Due Date shown on Your monthly billing statement. Each billing statement will state the time and manner Your payment must be completed to receive credit. Your billing statement will also state Your Closing Date which is about 30 days after the previous billing statement Closing Date. Partial Payments: Your Account will be considered in default if a partia...
Interest Calculation has meaning set forth in Section 11.2(c).
Interest Calculation. The number of elapsed days divided by 360. INTEREST PERIOD : Three (3) months, Nestle Netting value date to Nestle Netting value date. The first Interest period will commence on the date hereof and terminate on the Nestle Netting value date occurring three months thereafter. All succeeding Interest periods will commence and terminate on a Nestle Netting value date. The last Interest period will be adapted according to the loan repayment value date.
Interest Calculation. Interest on each Mortgage Loan is calculated on the basis of a three hundred sixty (360) day year consisting of twelve (12) thirty (30) day months. No Mortgage Loan provides for interest payable on a simple interest basis. No Mortgage Loan provides for an increase in the related Mortgage Interest Rate upon the occurrence of a default under the terms of the related Mortgage Note;
Interest Calculation. Wherever interest is chargeable under this Agreement, unless otherwise specifically provided, interest will be at the specified per annum rate, calculated daily and compounded on the last day of each calendar month. The interest rate chargeable on any specific day will be the specified per annum rate divided by the number of days in the calendar year in which such day occurs. END OF ARTICLE 1