Interest Computation definition

Interest Computation. Interest on the Mortgage Loan will be computed on the basis of a 360-day year and charged on the basis of the actual number of days in any month or interest period.
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Interest Computation. As per attached sheet. Note: Please credit the said amount to THE OVERSEAS ECONOMIC CO-OPERATION FUND's account with The Bank of Tokyo, Ltd., Uchisaiwai-cho Office, Tokyo, Japan by the due date at Tokyo. --------------------------- (Authorized Signature) Encl: (Form No.2) (Name and address of Borrower) Date: Ref. No.: Attention:
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Examples of Interest Computation in a sentence

  • While the Bonds are bearing interest at the Variable Rate, should any Variable Interest Computation Date fall between the date of the draw on the Credit Facility and the next Interest Payment Date on the Bonds, the Trustee shall assume that the Bonds will bear interest at the Maximum Rate from such Variable Interest Computation Date to the next Interest Payment Date and shall draw on the Credit Facility accordingly.

  • Section 1.1. Purchase Facility 1 Section 1.2. Making Purchases 2 Section 1.3. Purchased Interest Computation 3 Section 1.4.

  • Interest Computation Method- interest is calculated by the simple daily balance method, which applies a periodic rate to the ending balance in the account for that day.

  • Method of Interest Computation At the close of each Interest Period during which credit was extended to you, an interest charge is computed by multiplying the average daily debit balance by the applicable schedule rate and by the number of days during which a debit balance was outstanding and then dividing by 360.

  • Anything herein to the contrary notwithstanding, so long as an Event of Default pursuant to Section 6.01(b) hereof shall have occurred and be continuing, the Variable Rate for each Variable Interest Accrual Period shall be (i) for the first 60 days following the occurrence of such Event of Default, the Index Rate in effect on the applicable Variable Interest Computation Date plus 4% per annum, and (ii) thereafter, the Maximum Rate.

  • For each Variable Interest Accrual Period, the Variable Rate determined by the Remarketing Agent shall be communicated in writing (which may be by Electronic Notice) to the Trustee, the Tender Agent, the Issuer, the Borrower, the Servicer and the Credit Facility Provider (which shall be by Electronic Notice) as provided in Section 10.05 hereof, on the Variable Interest Computation Date.

  • Interest Computation Method- Interest is calculated by the simple daily balance method, which applies a periodic rate to the ending balance in the account for that day.

  • Minimum balance requirements: Interest Computation Method- interest is calculated by the simple daily balance method, which applies a periodic rate to the ending balance in the account for that day.

  • Section 1.1 Purchases 1 Section 1.2 Making Purchases 3 Section 1.3 Purchased Interest Computation 6 Section 1.4 Settlement Procedures 6 Section 1.5 Fees 11 Section 1.6 Payments and Computations, Etc.

  • If for any reason the Remarketing Agent shall fail to determine the rate of interest or if the rate of interest determined by the Remarketing Agent is held to be invalid or unenforceable for any Variable Interest Accrual Period (other than in connection with an Event of Default pursuant to Section 6.01(b) hereof), then the Variable Rate for such Variable Interest Accrual Period shall be the Index Rate in effect on the applicable Variable Interest Computation Date.

Related to Interest Computation

  • Computation Date is defined in Section 2.04.

  • Interest Component means, at any time of determination for any Conduit Investor, the aggregate Yield accrued and to accrue through the end of the current Rate Period for the Portion of Investment accruing Yield calculated by reference to the CP Rate at such time (determined for such purpose using the CP Rate most recently determined by its Administrator).

  • Interest Calculation Period means the interest calculation period set out or referred to in item 5(d) of the Mortgage Form;

  • Computation Period means each period of four consecutive Fiscal Quarters ending on the last day of a Fiscal Quarter.

  • Computation Day and "Record Date" shall mean 10, 10, 10, and 10.