# Interest Calculation definition

Interest Calculation has the meaning set forth in Section 8.4.
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).

## 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.

• 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.

• 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.

## More Definitions of Interest Calculation

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
Interest Calculation. The interest of the loan of Party B is calculated on the 20th day of each quarter on a quarterly base from the day that the loan is transferred into Party B’s account. Daily interest is calculated based on rules and regulations from People’s Bank of China.
Interest Calculation. Calculation of interest shall be on the basis of the actual days elapsed in a year of 360 days (or 365 or 366 days, as the case may be, in the case of ABR loans determined by reference to the Prime Rate (as defined below)) and interest shall be payable at the end of each interest period and, in any event, at least every three months.
Interest Calculation. The Time Deposit Account will earn simple interest at such rate as is set by Bank at its sole discretion from time to time. The interest will be paid as per the agreement between Bank and the Custo- mer.
Interest Calculation. The balance of the Black Account will earn simple interest on collected funds at such rate as Bank deems appropriate from time to time at its sole discretion, during any calendar month when the average daily balance of such Account is higher than the required minimum. The Bank will credit your Black Account monthly with the interest due.
Interest Calculation has meaning set forth in Section 11.2(c).
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;