Calculation of the Interest. The interest shall accrue on the Loan Balance on the basis of the actual days and a 360-days year. The interest calculation formula shall be: Loan Balance × Loan Interest Rate × Actually Accrued Days of the Loan During the Corresponding Interest Period ÷ 360 Days.
Appears in 2 contracts
Sources: Foreign Exchange Loan Contract (Aluminum Corp of China), Foreign Exchange Loan Contract (Yingli Green Energy Holding Co LTD)