Interest Element definition
Interest Element shall bear the meaning given to such term in clause 8.1;
Interest Element has the meaning given to “Interest Element” in the Charter.
Interest Element means an amount equal to interest on US$173,326,846 calculated from (and including) the Accounts Date to (but excluding) the actual date of Completion at the Interest Rate accruing on a daily basis, and compounded monthly;
Examples of Interest Element in a sentence
In the case of a Term SOFR Interest Element, if, before close of business in Beijing on the Term SOFR Quotation Day, the Owner determines that its cost of funds would be in excess of the Reference Rate then Paragraph 3.3 (Cost of funds) below shall apply to calculate that Term SOFR Interest Element for the relevant Rent Period.