2.1 CHARGES
In this Agreement, unless the context requires otherwise:
- The Borrower shall pay all the monies, liabilities and obligations advanced to or incurred by the Borrower in relation to the Short-Term Facility(ies) as specified in this Agreement and as shall be confirmed to the Borrower through the OTG App
- All monies due on the Short-Term Facility (“Total Outstanding Debt”) shall fall due on the 30th day from the date of disbursement (“Due Date”). If the Borrower does not settle the Outstanding Debt on or before the Due Date, a one-off roll over fee of 10.5% of the Outstanding Debt shall be applied on the 31st day of the Short-Term Facility.
- The Borrower may choose to repay the Short- Term Facility earlier that the Due Date.
- The Central Bank of Kenya may from time to time and at its sole discretion and within the limit permitted by law revise the CBR and shall publish the revised The Bank may from time to time at its sole discretion and within the limits permitted by law revise the Margin and applicable charges on the Short-Term Facility with no requirement for prior notice to the Borrower.
- "Margin” means the deviation percentile rate per annum added to or deducted from the Bank’s Base Rate. The Margin comprises of:
- Administrative overheads
- Financial tax (Cash Reserve Ratio & Deposit Insurance Premium)
- Credit Risk premium Profit margin
- Cost of funds in excess/ arrears of CBR
- Cost of capital in excess/ arrears of CBR
- Liquidity Risk Costs in excess/ arrears of CBR
- Any other costs permitted by law