Interest Charge. The Recipient shall pay the Association interest on the Withdrawn Credit Balance at the rate specified in the Financing Agreement. Interest shall accrue from the respective dates on which amounts of the Credit are withdrawn and shall be payable semi-annually in arrears on each Payment Date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.”
Appears in 8 contracts
Samples: Financing Agreement, Financing Agreement, Financing Agreement
Interest Charge. The Recipient shall pay the Association interest on the Withdrawn Program Credit Balance at the rate specified in the Financing Agreement. Interest shall accrue from the respective dates on which amounts of the Program Credit are withdrawn and shall be payable semi-annually in arrears on each Payment Date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.”
Appears in 1 contract
Samples: Financing Agreement
Interest Charge. The Recipient shall pay the Association interest on the Withdrawn Credit Balance at the rate specified in the Financing Agreement. Interest shall accrue from the respective dates on which amounts of the Credit are withdrawn and shall be payable semi-annually in arrears on each Payment Date. Interest shall be computed on the basis of a 360-day year of twelve 30-30- day months.”"
Appears in 1 contract
Samples: Financing Agreement
