Interest Basis Clause Samples
The Interest Basis clause defines how interest is calculated on amounts due under an agreement. It specifies the method for determining the period over which interest accrues, such as using a 360-day or 365-day year, and may clarify whether interest is compounded or simple. This clause ensures both parties understand the precise calculation method, preventing disputes over interest payments and promoting transparency in financial obligations.
Interest Basis. Interest shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid. If any payment of principal of or interest on a Loan shall become due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Interest Basis. This Note may be a Fixed Rate Note, a Floating Rate Note (which term shall include an €STR Linked Interest Note, a ▇▇▇▇▇ Linked Interest Note, a Federal Funds Rate Linked Interest Note, a CMS Linked Interest Note, a Compounded Daily SOFR Linked Interest Note or a Weighted Average SOFR Linked Interest Note if this Note is specified as such in the Final Terms), a Reset Note or a combination of any of the foregoing, depending upon the Interest Basis shown in the Final Terms.
Interest Basis. [[⚫] per cent. per annum Fixed Rate] [[LIBOR/EURIBOR/BBSW/BKBM/HIBOR/BA- CDOR/SIBOR/NIBOR] + [ ] per cent. per annum Floating Rate] [Zero Coupon] (further particulars specified below)
Interest Basis. Interest accrues from day to day as of the Drawdown Date and is calculated on the basis of the actual number of days elapsed and a year of 365/366 days (actual/actual).
Interest Basis. [[ ] per cent. Fixed Rate][, subject to the [Sustainability-Linked Step Up Margin][ and ][Step Up Rating Change and/or Step Down Rating Change] [[specify Reference Rate] +/- [ ] per cent. Floating Rate][, subject to the [Sustainability-Linked Step Up Margin][ and ][Step Up Rating Change and/or Step Down Rating Change] [Zero Coupon] [Index Linked Interest] [Dual Currency Interest] [specify other] (further particulars specified below)
Interest Basis. [[●] per cent. Fixed Rate] [[LIBOR/EURIBOR/HIBOR/CNH HIBOR] +/- [●] per cent. Floating Rate] [Zero Coupon] [Index Linked Interest] [Dual Currency Interest] [specify other] (further particulars specified below)
Interest Basis. In respect of the period from (and including) the Issue Date to (but excluding) 26 June 2019, LIBOR +2.50 per cent. Floating Rate and in respect of the period from (and including) 26 June 2019 to (but excluding) the Final Maturity Date, Compounded Daily ▇▇▇▇▇ + 2.648 per cent. Floating Rate. See 18 (viii) below 11 Redemption/Payment Basis: Redemption at par 12 Change of Interest or Redemption/Payment Basis Applicable. See 18 (viii) below 13 Put/Call Options: Issuer Optional Redemption Condition 8(d)
Interest Basis. Interest Basis to Maturity Date: 6-month EURIBOR + 0.45% Floating Rate Interest Basis to Extended Maturity Date: 1-month EURIBOR + 0.45% Floating Rate
Interest Basis. Redemption/Payment Basis: [Subject to any purchase and cancellation or early redemption, the Covered Bonds shall be redeemed on the Maturity Date at [par] [ ] per cent of their nominal amount]
Interest Basis. Interest on this Debenture shall be computed on the basis of a 365-day year.