Common use of Interest and Default Interest Clause in Contracts

Interest and Default Interest. The calculation of interest shall accrue on a daily basis, 1 (one) year shall be 365 (three hundred and sixty-five) days for a credit facility in Thai Baht currency and 1 (one) year shall be 360 (three hundred and sixty) days for a credit facility in other currencies. The Customer agrees that the interest rate to be charged under this Supplement is a rate specified by the Bank which will be notified, through the System or any other Channel or in any other form determined or acceptable by the Bank, to the Customer in Interest Advice for Trust Receipt from time to time until the Maturity Date, hereinafter referred to as the “Interest Period”. Before the beginning of each Interest Period, the Bank will notify the Customer of the interest rate to be applied for the next Interest Period for the purpose of interest payment for that Interest Period. The interest for each Interest Period shall be payable on the last day of each Interest Period. The Customer agrees to pay the principal together with interest on the Maturity Date. The Customer agrees that the interest rate in Interest Advice for Trust Receipt notified by the Bank is the interest rate under this Supplement and without the Customer’s signing in any further documents, the information of such Interest Advice for Trust Receipt shall be a conclusive evidence against the Customer. In the case that the Customer does not make payment of interest for any Interest Period, the Customer agrees that the debt under the Supplement shall be due and payable immediately, regardless of whether or not the Customer sold the Goods under this Supplement, or whether or not the Maturity Date has reached and the Bank shall be entitled to immediately apply the interest at the Default Interest Rate , deriving from the maximum interest rate actually charged at the time with an addition of 3 (three) percent per annum, which will be notified to the Customer in Interest Advice for Trust Receipt, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). In the case that Trust Receipt Loan specifies the amount as a foreign currency, after the Bank converts the foreign currency under the Trust Receipt Loan into Thai Baht in accordance to Clause 6 Paragraph 3, the Bank shall be entitled to charge the Default Interest Rate deriving from the maximum interest rate of (1) Market Rate for Thai Baht Loan or (2) Reference Rate for Thai Baht Loan such as MLR/ MOR/ MRR (as the case may be), with an addition of 3 (three) percent per annum which will be notified to the Customer in Interest Advice for Trust Receipt, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). The Default Interest Rate shall be calculated from the date of failure to pay or default until the date of actual payment to the Bank in full. The Customer agrees and acknowledges that the Bank is entitled to immediately announce a change to the interest rate in accordance with the notifications of the Bank which is notified at its principal office, branch offices and on the website of the Bank, or in notifications of the Bank of Thailand or notifications of any agencies or as prescribed by laws at that time, provided that such interest rate shall not exceed the rate prescribed by laws. The Customer agrees that the Bank shall be entitled to change such interest rate immediately from the date on which the changed interest rate is effective without requiring any notice to the Customer or consent from the Customer.

Interest and Default Interest. The calculation of interest shall accrue on a daily basis, 1 (one) year shall be 365 (three hundred and sixty-five) days for a credit facility in Thai Baht currency and 1 (one) year shall be 360 (three hundred and sixty) days for a credit facility in other currencies. The Customer agrees that the interest rate to be charged under this Supplement is a rate specified by the Bank which will be notified, through the System or any other Channel or in any other form determined or acceptable by the Bank, to the Customer in Interest Advice for Trust Receipt from time to time until the Maturity Date, hereinafter referred to as the “Interest Period”. Before the beginning of each Interest Period, the Bank will notify the Customer of the interest rate to be applied for the next Interest Period for the purpose of interest payment for that Interest Period. The interest for each Interest Period shall be payable on the last day of each Interest Period. The Customer agrees to pay the principal together with interest on the Maturity Date. The Customer agrees that the interest rate in Interest Advice for Trust Receipt notified by the Bank is the interest rate under this Supplement and without the Customer’s signing in any further documents, the information of such Interest Advice for Trust Receipt shall be a conclusive evidence against the Customer. In the case that the Customer does not make payment of interest for any Interest Period, the Customer agrees that the debt under the Supplement shall be due and payable immediately, regardless of whether or not the Customer sold the Goods under this Supplement, or whether or not the Maturity Date has reached and the Bank shall be entitled to immediately apply the interest at the Default Interest Rate , deriving from the maximum interest rate actually charged at the time with an addition of 3 (three) percent per annum, which will be notified to the Customer in Interest Advice for Trust Receipt, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). In the case that Trust Receipt Loan specifies the amount as a foreign currency, after the Bank converts the foreign currency under the Trust Receipt Loan into Thai Baht in accordance to Clause 6 Paragraph 3, the Bank shall be entitled to charge the Default Interest Rate deriving from the maximum interest rate of (1) Market Rate for Thai Baht Loan or (2) Reference Rate for Thai Baht Loan such as MLR/ MOR/ MRR (as the case may be), with an addition of 3 (three) percent per annum which will be notified to the Customer in Interest Advice for Trust Receipt, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). The Default Interest Rate shall be calculated from the date of failure to pay or default until the date of actual payment to the Bank in full. The Customer agrees and acknowledges that the Bank is entitled to immediately announce a change to the interest rate in accordance with the notifications of the Bank which is notified at its principal office, branch offices and on the website of the Bank, or in notifications of the Bank of Thailand or notifications of any agencies or as prescribed 340EV-v.3.0 by laws at that time, provided that such interest rate shall not exceed the rate prescribed by laws. The Customer agrees that the Bank shall be entitled to change such interest rate immediately from the date on which the changed interest rate is effective without requiring any notice to the Customer or consent from the Customer.

Interest and Default Interest. 3.1 The calculation Conventional MTNs issued on an interest bearing basis shall bear interest from and including the Issue Date at the relevant Interest Rate stated in the Conventional MTNs, up to but excluding the last day of the Interest Period applicable to such Conventional MTNs. 3.2 Subject to Condition 3.3, interest shall accrue on a daily basis, 1 (one) year shall be 365 (three hundred and sixty-five) days for a credit facility in Thai Baht currency and 1 (one) year shall be 360 (three hundred and sixty) days for a credit facility in other currencies. The Customer agrees that the interest rate to be charged under this Supplement is a rate specified payable by the Bank which will be notified, through the System or any other Channel or Issuer semi annually in any other form determined or acceptable by the Bank, to the Customer in arrears on an Interest Advice for Trust Receipt from time to time until the Maturity Payment Date, hereinafter referred to as the “first of such period commencing on the Issue Date. Interest Period”. Before accrues from and including the beginning first day of each Interest Period, the Bank will notify the Customer of the interest rate up to be applied for the next Interest Period for the purpose of interest payment for that Interest Period. The interest for each Interest Period shall be payable on but excluding the last day of each Interest Period. 3.3 Interest on the Conventional MTNs which are issued on an interest baring basis shall be calculated on the basis of three hundred and sixty five (365) day year and the actual number of days elapsed. The Customer agrees Such Conventional MTNs cease to bear interest from and including the date due for their redemption (the “Maturity Date”) unless the Issuer fails to make payment in accordance with the Transaction Documents. 3.4 In the event described in Condition 3.3 or in any other event where the Iss uer defaults in respect of any payment under the Conventional MTNs (whether issued on an interest bearing basis or not), the Issuer shall pay the principal together with interest on the Maturity Date. The Customer agrees that amount of the interest rate in Interest Advice for Trust Receipt notified by the Bank is the interest rate under this Supplement and without the Customer’s signing in any further documents, the information of such Interest Advice for Trust Receipt shall be a conclusive evidence against the Customer. In the case that the Customer does not make payment of interest for any Interest Period, the Customer agrees that the debt under the Supplement shall be due and payable immediately, regardless of whether or not the Customer sold the Goods under this Supplement, or whether or not the Maturity Date has reached and the Bank shall be entitled to immediately apply the interest at the Default Interest Rate , deriving from the maximum interest rate actually charged at the time with an addition of 3 (three) percent per annum, which will be notified to the Customer in Interest Advice for Trust Receipt, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). In the case that Trust Receipt Loan specifies the amount as a foreign currency, after the Bank converts the foreign currency under the Trust Receipt Loan into Thai Baht in accordance to Clause 6 Paragraph 3, the Bank shall be entitled to charge the Default Interest Rate deriving from the maximum interest rate of (1) Market Rate for Thai Baht Loan or (2) Reference Rate for Thai Baht Loan such as MLR/ MOR/ MRR (as the case may be), with an addition of 3 (three) percent per annum which will be notified to the Customer in Interest Advice for Trust Receipt, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). The Default Interest Rate shall be calculated so defaulted from the date of failure such payment is due under the Conventional MTNs up to pay or default until the date of actual receipt thereof by the Conventional MTNholders (before as well as after judgment) at the date of one per cent (1.0%) per annum above the relevant Interest Rate. 3.5 For the purpose of this Condition 3, if any payment is not receive d by the Trustee or any person to whom such payment is due within the Bank time stipulated in full. The Customer agrees and acknowledges that these Conditions, any Conventional MTNs, the Bank is entitled to immediately announce a change to the interest rate in accordance with the notifications of the Bank which is notified at its principal office, branch offices and Trust Deed or any other Transaction Documents on the website of due date, that payment (if actually received by the Bank, or in notifications of Trustee on the Bank of Thailand or notifications of any agencies or as prescribed by laws at that time, provided that such interest rate shall not exceed due date) is deemed to be received on the rate prescribed by laws. The Customer agrees that the Bank shall be entitled to change such interest rate immediately from the date on which the changed interest rate is effective without requiring any notice to the Customer or consent from the Customernext Business Day.