Calculation of interest – Compounded Rate Loans. (a) The rate of interest on each Compounded Rate Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable: (i) Margin; and (ii) Compounded Reference Rate for that day. (b) If any day during an Interest Period for a Compounded Rate Loan is not a RFR Banking Day, the rate of interest on that Compounded Rate Loan for that day will be the rate applicable to the immediately preceding RFR Banking Day.
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Sources: Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp), Loan Agreement (Castor Maritime Inc.), Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)
Calculation of interest – Compounded Rate Loans. (a) The rate of interest on each Compounded Rate Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
(i) Margin▇▇▇▇▇▇; and
(ii) Compounded Reference Rate for that day.
(b) If any day during an Interest Period for a Compounded Rate Loan is not a RFR Banking Day, the rate of interest on that Compounded Rate Loan for that day will be the rate applicable to the immediately preceding RFR Banking Day.
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Calculation of interest – Compounded Rate Loans. (aA) The rate of interest on each Compounded Rate Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
(i1) Margin; and
(ii2) Compounded Reference Rate for that dayday and for the relevant currency.
(bB) If any day during an Interest Period for a Compounded Rate Loan is not a an RFR Banking Day, the rate of interest on that Compounded Rate Loan for that day will be the rate applicable to the immediately preceding RFR Banking Day.
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Calculation of interest – Compounded Rate Loans. (aa ) The In relation to a Compounded Rate Currency, the rate of interest on each Compounded Rate Loan for that Compounded Rate Currency for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
(i) the applicable Margin; and
(ii) Compounded Reference Rate for that day.
(b) If any day during an Interest Period for a Compounded Rate Loan is not a RFR Banking Day, the rate of interest on that Compounded Rate Loan for that day will be the rate applicable to the immediately preceding RFR Banking DayCurrency.
Appears in 1 contract
Sources: Commitment Letter
Calculation of interest – Compounded Rate Loans. (a) The rate of interest on each Compounded Rate Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
(ia) Margin; and
(iib) Compounded Reference Rate for that day.
(b) . If any day during an Interest Period for a Compounded Rate Loan is not a an RFR Banking Day, the rate of interest on that Compounded Rate Loan for that day will be the rate applicable to the immediately preceding RFR Banking Day.
Appears in 1 contract
Calculation of interest – Compounded Rate Loans. (aA) The rate of interest on each Compounded Rate Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
(i1) Margin; and
(ii2) Compounded Reference Rate for that day.
(bB) If any day during an Interest Period for a Compounded Rate Loan is not a an RFR Banking Day, the rate of interest on that Compounded Rate Loan for that day will be the rate applicable to the immediately preceding RFR Banking Day.
Appears in 1 contract
Sources: Multicurrency Revolving Facility Agreement (Endava PLC)