REVIEW OF INTEREST Sample Clauses

The 'Review of Interest' clause establishes the process and conditions under which the interest rate applied to payments or outstanding balances in an agreement may be periodically reviewed and adjusted. Typically, this clause specifies the frequency of review—such as annually or at set intervals—and may reference external benchmarks or market rates to determine any changes. Its core practical function is to ensure that the interest rate remains fair and reflective of current market conditions, thereby protecting both parties from significant fluctuations or outdated rates over the term of the agreement.
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REVIEW OF INTEREST. 8.1 The Credit Union may, at any time during the Term of the Loan, review and vary the Annual Interest Rate payable by the Member. The Credit Union will give the Member not less than 20 working days’ prior notice, in writing, of the Credit Union's intention to vary the Annual Interest Rate. 8.2 The Annual Interest Rate as so varied shall become effective on the date specified in the notice. The Member’s Payments shall be recalculated as from that date in accordance with the Credit Union's amortisation tables on the basis of the new Annual Interest Rate, the Unpaid Balance and the remaining Term of the Loan as from the date specified in the notice. 8.3 Payment, as varied, shall commence on the Payment date specified in the notice.
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REVIEW OF INTEREST. 8.1 During the currency of this contract the Creditor may review and vary the Annual Interest Rate, and consequently the Default Interest Rate payable by the Debtor by giving the Debtor not less than one months prior notice, in writing, of the Creditor's intention to vary the Annual Interest Rate. 8.2 The Annual Interest Rate as so varied shall become effective on the date specified in the notice and the Payment shall be recalculated on that date in accordance with the Creditor's amortisation tables on the basis of the new Annual Interest Rate, the Unpaid Balance of the loan and the remaining Term of the Loan. 8.3 Payment, as varied, shall commence on the Payment Date specified in the notice; 8.4 On receipt of the notice the Debtor shall be entitled to make Full Prepayment of the Unpaid Balance of the Loan and all other moneys then owing hereunder together with interest thereon at the Annual Interest Rate, as provided in clause 6.1, on or before the date specified in the notice and interest shall cease to be payable on the moneys so repaid on the date of Full Prepayment.
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REVIEW OF INTEREST. 9.1 The Credit Union may, at any time during the Term of the Loan, review and vary the Annual Interest Rate payable by the Borrower. The Credit Union will give the Borrower not less than 20 working days’ prior notice, in writing, of the Credit Union's intention to vary the Annual Interest Rate. 9.2 The Annual Interest Rate as so varied shall become effective on the date specified in the notice.
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Related to REVIEW OF INTEREST

  • Payment of Interest The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling at six monthly intervals after the first day of the Interest Period).

  • 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.

  • Accrual and Payment of Interest Interest shall accrue from and including the date of any Borrowing to but excluding the date of any prepayment or repayment thereof and shall be payable by the Borrower on a joint and several basis: (i) in respect of each Base Rate Loan, quarterly in arrears on the last Business Day of each March, June, September and December (ii) in respect of each Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest Period in excess of three months, on the dates that are successively three months after the commencement of such Interest Period; (iii) in respect of any Swing Loan, on the Swing Loan Maturity Date applicable thereto; and (iv) in respect of all Loans, other than Revolving Loans accruing interest at the Base Rate, on any repayment, prepayment or Conversion (on the amount repaid, prepaid or Converted), at maturity (whether by acceleration or otherwise), and, after such maturity or, in the case of any interest payable pursuant to Section 2.11(c), on demand.

  • Treatment of Interest For Federal and State tax purposes (i) interest shall accrue at the Accrual Rate, and (ii) payments made pursuant to section 2 shall first be treated as interest, up to the amount of interest so accrued, then shall be treated as principal, until Purchaser has received, as principal, the entire Principal Amount, and then shall be treated as interest.

  • Rates and Payment of Interest (a) The Obligations shall bear interest (i) if a Base Rate Loan, at the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. Interest shall accrue from the date the Loan is advanced or the Obligation is incurred or payable, until paid by Borrowers. If a Loan is repaid on the same day made, one day’s interest shall accrue. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Each Borrower acknowledges that the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable estimate to compensate Agent and Lenders for this. (c) Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.