Common use of Interest Clause in Contracts

Interest. 4.1 Interest Rate 4.1.1 Selection of Interest Rate The Borrower may select a fixed Interest Rate or a floating Interest Rate for the Facility, which shall apply to the amount set out in the Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Rate Conversion Request), subject to the following conditions: (i) Floating Interest Rate The Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of: - six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement; and - the Margin. Notwithstanding the above, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be: - one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement, if the first Interest Period is less than sixty (60) days; or - three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement if the first Interest Period is between sixty (60) days and one hundred and thirty-five (135) days. (ii) Fixed Interest Rate The Borrower may select a fixed Interest Rate. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any fluctuation of the Index Rate from the Signing Date until the relevant Rate Setting Date. The Borrower may specify in the Drawdown Request a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified in the relevant Drawdown Request, such Drawdown Request shall be cancelled and the Drawdown amount specified in the cancelled Drawdown Request shall be credited to the Available Credit. 4.1.2 Minimum Interest Rate The Interest Rate determined in accordance with Clause 4.1.1 (Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five percent (0.25%) per annum, notwithstanding any decline in the Interest Rate. 4.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate The floating Interest Rate applicable to the Drawdown, as the case may be, shall be converted to a fixed Interest Rate in accordance with the conditions set out below: (i) Rate Conversion upon the Borrower’s request The Borrower may request at any time that the Lender converts the floating Interest Rate applicable to the Drawdown to a fixed Interest Rate. To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Schedule 5C (Form of Rate Conversion Request). The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request, such Rate Conversion Request will be automatically cancelled. The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date. (ii) Rate Conversion mechanics The fixed Interest Rate applicable to the Drawdown shall be determined in accordance with Clause 4.1.1 (ii) (Fixed Interest Rate) above on the Rate Setting Date referred to in subparagraph (i) above. The Lender shall send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Schedule 5D (Form of Rate Conversion Confirmation). A Rate Conversion is final and at no costs.

Interest. 4.1 Interest Rate 4.1.1 Selection of Interest Rate The For each Drawdown, the Borrower may select a fixed Interest Rate or a floating Interest Rate for the FacilityRate, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Rate Conversion Drawdown Request), subject to the following conditions: (i) Floating Interest Rate The Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of: - six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement; and - the Margin. Notwithstanding the above, in the case of the first Drawdown, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be: - one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement, if the first Interest Period is less than sixty (60) days; or - three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement if the first Interest Period is between sixty (60) days and one hundred and thirty-five (135) days. (ii) Fixed Interest Rate The Borrower may select a fixed Interest Rate. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any fluctuation of the Index Rate from the Signing Date until the relevant Rate Setting Date. The Borrower may specify in the Drawdown Request a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified in the relevant Drawdown Request, such Drawdown Request shall be cancelled and the Drawdown amount specified in the cancelled Drawdown Request shall be credited to the Available Credit. 4.1.2 Minimum Interest Rate The Interest Rate determined in accordance with Clause 4.1.1 (Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five percent (0.25%) per annum, notwithstanding any decline in the Interest Rate. 4.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate The floating Interest Rate applicable to the Drawdown, as the case may be, shall be converted to a fixed Interest Rate in accordance with the conditions set out below: (i) Rate Conversion upon the Borrower’s request The Borrower may request at any time that the Lender converts the floating Interest Rate applicable to the Drawdown to a fixed Interest Rate. To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Schedule 5C (Form of Rate Conversion Request). The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request, such Rate Conversion Request will be automatically cancelled. The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date. (ii) Rate Conversion mechanics The fixed Interest Rate applicable to the Drawdown shall be determined in accordance with Clause 4.1.1 (ii) (Fixed Interest Rate) above on the Rate Setting Date referred to in subparagraph (i) above. The Lender shall send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Schedule 5D (Form of Rate Conversion Confirmation). A Rate Conversion is final and at no costs.sixty

Interest. 4.1 Interest Rate 4.1.1 Selection of Interest Rate The Borrower may select a fixed Interest Rate or a floating Interest Rate for the Facility, which shall apply to the amount set out in the Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Rate Conversion Request), subject to the following conditions: (ia) Floating Interest Rate The Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of: - six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement; and - the Margin. Notwithstanding the above, for each Drawdown, in the case of the first Interest Period, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be: - one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement, if the first Interest Period is less than sixty (60) days; or - three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement if the first Interest Period is between sixty (60) days and one hundred and thirty-five (135) days. (ii) Fixed Interest Rate The Borrower may select a fixed Interest Rate. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any fluctuation of the Index Rate from the Signing Date until the relevant Rate Setting Date. The Borrower may specify in the Drawdown Request a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified in the relevant Drawdown Request, such Drawdown Request shall be cancelled and the Drawdown amount specified in the cancelled Drawdown Request shall be credited to the Available Credit. 4.1.2 Minimum Interest Rate The Interest Rate determined in accordance with Clause 4.1.1 (Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five percent (0.25%) per annum, notwithstanding any decline in the Interest Rate. 4.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate The floating Interest Rate applicable to the Drawdown, as the case may be, shall be converted to a fixed Interest Rate in accordance with the conditions set out below: (i) Rate Conversion upon the Borrower’s request The Borrower may request at any time that the Lender converts the floating Interest Rate applicable to the Drawdown to a fixed Interest Rate. To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Schedule 5C (Form of Rate Conversion Request). The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request, such Rate Conversion Request will be automatically cancelled. The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date. (ii) Rate Conversion mechanics The fixed Interest Rate applicable to the Drawdown shall be determined in accordance with Clause 4.1.1 (ii) (Fixed Interest Rate) above on the Rate Setting Date referred to in subparagraph (i) above. The Lender shall send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Schedule 5D (Form of Rate Conversion Confirmation). A Rate Conversion is final and at no costs.sixty

Interest. 4.1 Interest Rate 4.1.1 Selection of Interest Rate The For each Drawdown, the Borrower may select a fixed Interest Rate or a floating Interest Rate for the FacilityRate, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Rate Conversion Drawdown Request), subject to the following conditions: (i) Floating Interest Rate The Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of: - – six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement; and - – the Margin. Notwithstanding the above, in the case of the first Drawdown, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be: - – one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement, if the first Interest Period is less than sixty (60) days; or - – three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement if the first Interest Period is between sixty (60) days and one hundred and thirty-five (135) days. (ii) Fixed Interest Rate The Provided that the amount of a requested Drawdown is equal to or greater than three million Euros (EUR 3,000,000), the Borrower may select a fixed Interest RateRate for such requested Drawdown. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any fluctuation of the Index Rate for the period from the Signing Date until the relevant Rate Setting Date. The Borrower may specify in the Drawdown Request a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified in the relevant Drawdown Request, such Drawdown Request shall be cancelled and the Drawdown amount specified in the cancelled Drawdown Request shall be credited to the Available Credit. 4.1.2 Minimum Interest Rate The Interest Rate determined in accordance with Clause 4.1.1 (Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five percent per cent (0.25%) per annum, notwithstanding any decline in the Interest Rate. 4.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate The floating Interest Rate applicable to the Drawdown, as the case may be, shall be converted to a fixed Interest Rate in accordance with the conditions set out below:Rate (i) Rate Conversion upon the Borrower’s request The Borrower may request at any time that the Lender converts the floating Interest Rate applicable to the a Drawdown or several Drawdowns to a fixed Interest Rate, provided that the amount of such Drawdown or aggregate amount of Drawdowns (as applicable) is equal to, or higher than, three million Euros (EUR 3,000,000). To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Schedule 5C (Form of Rate Conversion Request). The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request, such Rate Conversion Request will be automatically cancelled. The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date. (ii) Rate Conversion mechanics The fixed Interest Rate applicable to the Drawdown relevant Drawdown(s) shall be determined in accordance with Clause 4.1.1 (ii4.1.1(ii) (Fixed Interest Rate) above on the Rate Setting Date referred to in subparagraph (i) above. The Lender shall send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Schedule 5D (Form of Rate Conversion Confirmation). A Rate Conversion is final and at no effected without costs.