Definition of Interest Sample Clauses

The Definition of Interest clause establishes what is meant by "interest" within the context of the agreement, typically specifying the rate, calculation method, and circumstances under which interest is applied. For example, it may define whether interest accrues on overdue payments, how the rate is determined (such as a fixed percentage or a reference rate plus a margin), and the compounding frequency. This clause ensures both parties have a clear understanding of financial obligations related to interest, thereby reducing disputes and providing predictability regarding potential additional costs.
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Definition of Interest. For purposes of this Section 7, the term “Interest” shall mean “interest at the rate of 5.0% per annum on any Cost as detailed, which shall accrue for each such Cost on the date that a relevant Certification (as such term is defined below) is approved by Sunbury, and which shall no longer accrue on any such cost when it has been reimbursed in full as provided in this Agreement.”
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Definition of Interest. The references to “interest” above mean “interest” as understood in South African tax law. The statements above do not take account of any different definitions of “interest” or “principal” which may prevail under any other law or which may be created by the Terms and Conditions or any related documentation.
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Definition of Interest. For the purposes of Article 11 the term ‘interest’ is defined to include income from: • government securities; • bonds and debentures; • any other forms of indebtedness; and • income which is subjected to the same taxation treatment as income from money lent by the law of the Contracting State in which the income arises.
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Definition of Interest. If you buy additional Class A Interests under either our Periodic Investment Plan or Distribution Reinvestment Plan, the additional Class A Interests will be included in the term “Interest” for purposes of this Investment Agreement.
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Related to Definition of Interest

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable: (a) Margin; (b) LIBOR or, in relation to any Loan in euro, EURIBOR; and (c) Mandatory Cost, if any.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Limitation of Interest It is the intention of each Borrower and Lender to conform strictly to applicable usury laws. Accordingly, if the transactions contemplated hereby would be usurious under applicable law, then, in that event, notwithstanding anything to the contrary in any Loan Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law that is taken, reserved, contracted for, charged or received under any Loan Document or otherwise in connection with the Loan shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited to principal by Lender (or if the Loan shall have been paid in full, refunded to any Borrower); and (ii) in the event that maturity of the Loan is accelerated by reason of an election by Lender resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest may never include more than the maximum amount of interest allowed by applicable law, and any interest in excess of the maximum amount of interest allowed by applicable law, if any, provided for in the Loan Documents or otherwise shall be cancelled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited to principal (or if the principal portion of the Loan and any other amounts not constituting interest shall have been paid in full, refunded to any Borrower.) In determining whether or not the interest paid or payable under any specific contingency exceeds the maximum amount allowed by applicable law, Lender shall, to the maximum extent permitted under applicable law (a) exclude voluntary prepayments and the effects thereof, and (b) amortize, prorate, allocate and spread, in equal parts, the total amount of interest throughout the entire contemplated term of the Loan so that the interest rate is uniform throughout the entire term of the Loan; provided, that if the Loan is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the maximum amount allowed by applicable law, Lender shall refund to any Borrower the amount of such excess, and in such event, Lender shall not be subject to any penalties provided by any laws for contracting for, charging or receiving interest in excess of the maximum amount allowed by applicable law.

  • Determination of Interest The Administrative Agent shall calculate and determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Quarterly Payment Date and the Benchmark) to be paid by the Borrower on each Quarterly Payment Date for the related Accrual Period and shall advise the Borrower and the Collateral Manager thereof no later than the third Business Day prior to such Quarterly Payment Date.

  • Capitalization of Interest The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest.