Daily Interest Rate Clause Samples

The Daily Interest Rate clause defines the rate at which interest accrues on outstanding amounts on a daily basis. In practice, this means that if a payment is overdue, interest is calculated each day based on the specified daily rate, often derived from an annual rate divided by 365. This clause ensures that parties are aware of the cost of late payments and provides a clear, consistent method for calculating interest, thereby encouraging timely payment and compensating the owed party for delays.
Daily Interest Rate. 15 (i) Determination of Daily Interest Rate . . . . . . 15 (ii)
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Daily Interest Rate. 63. The Lender and the Borrower agree and warrant that upon termination of the Loan Agreement, the Operator may, at its sole discretion, either: (i) take over the Lender’s (Lenders’) Claims in accordance with the present General Terms and Conditions, or (ii) act as the Lender’s (Lenders’) representative, executing debt recovery under the Loan Agreement, with all the rights granted to it by the Law on Crowdfunding of the Republic of Lithuania and / or other legal acts, and, when necessary, to ensure the performance of the Loan Agreement and debt recovery. To this end, the Operator shall also be required to take all actions necessary to properly represent the interests of the Lender (s) and to administer the debt repayment. 64. The Operator, acting as the Lenders’ (i.e. the creditors’) representative, shall be in possession of all the rights and obligations set forth in the Law on Crowdfunding of the Republic of Lithuania, the Civil Code of the Republic of Lithuania and other legal acts, and conclusion of a separate power of attorney or other document identical to its content shall not be required to that end.
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Daily Interest Rate. (A) Determination of Daily Interest Rate. During each Daily Interest Rate Period, the Bonds shall bear interest at the Daily Interest Rate , determined by the Remarketing Agent on or before each Business Day for such Business Day. The Daily Interest Rate shall be the rate of interest per annum determined by the Remarketing Agent to be the lowest interest rate which would enable the Remarketing Agent to sell the Bonds for delivery on the effective date of such interest rate at a price (without regard to accrued interest) equal to 100% of the principal amount thereof. The Remarketing Agent shall provide the Trustee and the Borrower with telephonic or Electronic notice of the Daily Interest Rate determined by 10:30 a.m. (New York City time) on the date of determination. If the Remarketing Agent shall not have determined a Daily Interest Rate for any day by 10:30 a.m. (New York City time) on such day, the Daily Interest Rate shall be the same as the Daily Interest Rate for the immediately preceding day. In no event shall the Daily Interest Rate be greater than the Maximum Interest Rate.
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Daily Interest Rate. 2 The acquisition price of the Project Assets shall be considered to be the Loan Amount financed on the Platform (operated by the Operator) and paid to the Borrower.
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Daily Interest Rate 
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Related to Daily Interest Rate

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Maximum Interest Rate In no event shall any interest rate provided for hereunder exceed the maximum rate legally chargeable under applicable law with respect to loans of the Type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 3.3, have been paid or accrued if the interest rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the applicable Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to the Borrower such excess.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.

  • Fixed Interest Rate The loan interest rate hereunder is determined by the latest þ1-year ☐5-year and above ☐ other LPR published on the natural day before þ the Effective Date of this Contract ☐the loan issuance date plus (plus/less) 105.000000 basis points (LPR, the loan prime rate published by the National Interbank Funding Center, 1 basis point =0.01%, the same below), subject to the loan receipts or the electronic data and vouchers generated by E-banking such as online banking. During the term of loan, the loan interest rate shall not be adjusted.

  • Applicable Interest Rates (a) U.S.