Interest Rate definition
Examples of Interest Rate in a sentence
Except as specifically provided in this Agreement, any outstanding and past due amounts owing and unpaid by either Party under the terms of this Agreement will be eligible to receive, in addition to the outstanding and past due amounts, payment equal to the product of (i) the applicable outstanding and past due amount, (ii) the Interest Rate, and (iii) the number of days between the date due and the date paid.
For avoidance of doubt, there shall be no prepayment premium or penalty due upon any prepayment of the Term Loan if the Borrower and Lender do not enter into an Interest Rate Agreement.
Principal Amount: $ Effective Date: Maturity Date: Eighteen (18) months from the Effective Date Interest Rate: 8% per annum Maker: Torro Ventures CF, LLC, a Wyoming limited liability company Holder: This Unsecured Promissory Note (this “Note”) is made effective as of the date indicated above (the “Effective Date”), by Maker for the benefit of the Holder (each individually a “Party ” and collectively the “Parties”).
Prepayment of the principal amount of the Loan, in whole or in part, whether voluntary or involuntary, will be subject to payment by Borrower to Lender of all assessments, losses, fees and costs of any kind or nature incurred by Lender under any and all Interest Rate Agreements, which arise, directly or indirectly, as a result of such prepayment.
The following charges shall be applicable with regards to the Facility for the 3- and 6-months periods: - Processing Fee 6% of the Facility Interest Rate (Reducing Balance) 2% per month Penalty Interest 15% p.a. For the 3-month Short Term Facility, a Credit life insurance premium charge of 0.13% of the Facility shall be collected, while a Credit life insurance premium charge of 0.28% of the Facility shall be collected for the 6-month Short Term Facility.