Common use of COMPENSATORY INTEREST Clause in Contracts

COMPENSATORY INTEREST. The Borrower will pay compensatory interest from the Disbursement Date, on the amount of capital disbursed by the Bank and pending payment, at an annual nominal interest rate according to that established in numeral 4 of Annex I of the Contract. All calculations of interest will be made based on a year of three hundred sixty (360) days for the real number of days (excluding the initial day but including the maturity day), elapsed in the period for which said interest will be payable. Each determination of the Bank on an amount owed under this Contract will be considered conclusive and mandatory for all purposes, except in the event of manifest error. Interest will be calculated per matured period and will be paid on each Payment Date.

COMPENSATORY INTEREST. The Borrower will shall pay compensatory interest from the first Disbursement Date, on the amount of capital disbursed by the Bank and pending payment, at for which an annual nominal fixed effective interest rate according to that established in numeral 4 of Annex I of the Contract7.90% shall apply. All interest calculations of interest will shall be made performed based on a year of three hundred sixty (360) days day year for the real actual number of days (excluding the initial day day, but including the maturity daydue date), elapsed in the period for which said such interest will be is payable. Each determination of by the Bank on regarding an amount owed due under this Contract will shall be considered conclusive and mandatory binding for all purposes, except in the event case of manifest error. Interest will shall be calculated per matured on an expired period basis and will shall be paid on each Payment Date.