Interim Interest definition

Interim Interest means interest for the period from funding to the start of amortization paid by a borrower at or before consummation of a closed-end loan where such amortization begins sixty-two days or less after funding;

Interim Interest means the Interim Interest payable by the Employer to the financial institution granting the requisite finance/bond to the Employer, calculated from the Transfer Date, as per the Agreement of Sale, until the Completion Date, a portion of such amount of Interim Interest being included in the Total Contract Price as per Clause 3.3 of the Covering Schedule, if applicable in terms of Clause 4.3 of this Agreement, subject to the applicable provisions contained in Clause 5 of this Agreement;

Interim Interest means cumulative accrued interest which you earn between the Date of Deposit and the Date of Issue on the Deposit in accordance with this Agreement; d. “Principal” means your Deposit plus any Interim Interest; e. “Return” means the return on the Principal calculated in accordance with this Agreement 2. RIGHT OF CANCELLATION a. You may cancel this Agreement for any reason by visiting any of our branches or by calling us at 0(000)000-XXXX (3822) within three (3) business days of the earlier of your actual or deemed receipt of this Agreement (the “Cancellation Deadline”). b. You are deemed to have received this Agreement (i) on the day recorded as the time of sending by the server or other electronic transmission system, if provided by electronic means; (ii) on the day recorded as the time of sending by a fax machine, if provided by fax; (iii) five (5) Business Days after the postmark date, if provided by mail; and (iv) when it is received, in any other case. c. If you do not cancel this Agreement by the Cancellation Deadline, you are deemed to have read this Agreement and accepted its terms. d. If you cancel this Agreement by the Cancellation Deadline, your Deposit will be returned to you in full, without any Interim Interest. e. At any time prior to the Date of Issue, we may, in our sole discretion, choose to cancel this Agreement, in whole or in part and for any reason by providing you with notice of such cancellation. In such a case, your Deposit and any Interim Interest will be returned to you.

Examples of Interim Interest in a sentence

• However, if Interim Interest has been paid, the difference between Interim Interest paid (where two or more Interim Interest Payment Dates exist, the total amount of Interim Interest paid on each Date) and interest on cancellation before maturity shall be settled.

• In general, if the GIC is not held in a Registered Account, the Interim Interest must be included in your income in the year in which the GIC is issued.

• SMBC Trust Bank shall designate the last Business Day of each month during the period from the deposit date to the maturity date as the "Interim Interest Payment Date" and shall pay the interest (the "Interim Interest") for each month in accordance with the Applicable Interest Rate provided in 3.(1) (however, if the number of days from the deposit date to the first Interim Interest Payment Date is less than one (1) month, the calculation shall be made on a prorated daily basis).

• If you cancel this Agreement by the Cancellation Deadline, your Deposit will be returned to you in full, without any Interim Interest.

• Interim Interest: Interest will accrue on the Deposit during the period between the Date of Deposit and the Date of Issue at the rate of 3.00% per annum.

More Definitions of Interim Interest

Interim Interest with respect to any Purchaser Loan, the interest accrued thereon from the Funding Date to the related Closing Date.

Interim Interest means, with respect to a Forward Flow Receivable or Add-on Receivable, simple interest accrued at the annual percentage rate (“APR”) specified in the related Borrower’s Account Agreement during the Holding Period, taking into account the related discount to the APR for any promotional plan.

Interim Interest means the interest payable at the Interest Rate for the period, if any, between the Closing Date and the first Interest Payment Date.

Interim Interest means interest that is paid on the Disbursed Principal for that period of time between the Disbursal Date and the Commencement Date. Interim Interest shall be paid at a daily rate equal to the Interest Rate divided by 365.

Interim Interest means, with respect to a Forward Flow Receivable or Add-on Receivable, simple interest accrued at the annual percentage rate (“ APR ”) specified in the related Borrower’s Account Agreement during the Holding Period, taking into account the related discount to the APR for any promotional plan.

Interim Interest shall have the meaning specified in Section 2.2(c) of the Participation Agreement.

Interim Interest means with respect to a Receivable, interest accrued during the period commencing on the date the Bank pays the Settlement Amount and ending on the Closing Date for such Receivable at an annual interest rate equal to the annual percentage rate set forth in the Account Agreement for that Receivable; provided, however, that with respect to any Receivable that has a promotional interest rate during the period, then the Interim Interest shall be calculated using an assumed annual interest rate equal to the non-promotional rate under the Account or Existing Account, as applicable, at such time for which the Borrower qualified.