6. CHARGES AND INTEREST
The following charges shall apply and may from time to time be subject to change upon notice within the full extent permitted or demanded by law
|
Charge Description |
Charges |
|
|
|
|
Interest rate on loan amount |
Interest under clause 4 shall apply to the Facility(ies) provided that no Event of Default has occurred on the said Facility(ies) and |
|
|
subject to Paragraph 2 of Schedule 2 (Interest on Excess and Arrears). The provisions with respect to Interest on Excess and Arrears |
|
|
set out in Paragraph 2 of Schedule 2 (Interest on Excess and Arrears) shall apply in the Event of Default as defined in this letter. |
|
|
Interest on the facility shall be paid at such rate or rates not exceeding any maximum permitted by law |
|
|
or such other rate as the Bank may determine in its absolute and sole discretion from time to time |
|
|
(with the revision of S.33B of the Banking Act vide the Finance Act (2019), the Bank is in |
|
|
the process of formulating a Base Rate applicable to our lending products upon which the terms herein shall be revised accordingly |
|
|
subject to issuance of the relevant notices) |
|
|
|