I will add that it has already been determined that "as a rule, there is no room to deviate from the provisions of an agreement regarding interest mechanisms where its provisions are clear" (Civil Appeal Authority 31124-03-25 Mirali v. Nadav Lev in his role as trustee of the assets of the, paragraph 22 (September 18, 2025)). This is the situation with regard to the arrears interest for the credit facility and the costs of the credit facility, which section 3.3.1.6 expressly states that it will be at a rate of "7% until the actual date of payment". Mamilla, The provisions of the clause should be preferred to the general provision in clause 7.2 of the agreement, as the expert rightly believed.
- The defendants' third argument is directed at the expert's opinion that the interest in the amount of NIS 2,700,000 should have been paid by the class members only on the date of the termination of the venture, and only from that date that interest bears "arrears interest" in accordance with the provisions of the agreement.
The defendants claim that the interest amount was to be paid by the class members together with the credit facility and the costs of the insurance company, i.e., In Passing 30 days from the date of completion of the skeleton, and from that date onwards, arrears interest must be added to it. According to the defendants, since the sixth part of the agreement included this interest in the term "credit facility", and therefore clause 3.3.1.5 also applies to it, which stipulates that the "credit facility and the costs of the credit facility" will be paid within 30 days from the date of termination of the skeleton.
In my opinion, the argument should not be accepted.
First, whereas the sixth stated as follows: "[]Whereas the lender agreed to provide the borrowers with a credit facility in the sum of NIS 25,000,000... With a fixed interest, not variable, in the sum of NIS 2,700,000 and in a total amount of NIS 27,700,000 (hereinafter: Credit Facility') to finance the construction of the project..." (emphasis in original). Indeed, the simpler interpretation is that the definition "(below): Credit Facility')" refers to everything that was said before it, i.e., the credit facility together with the fixed interest rate of NIS 2,700,000, but it can also be interpreted that this definition goes back, to what was indeed called in the previous sentence a "credit facility", which is the sum of NIS 25,000,000 alone. The last interpretation fits in Good More with the substantive distinction between a credit facility, which is an amount that the lender provides to the borrower, and interest, which is an amount that the borrower must pay to the lender, and it is not clear why it should be considered part of that credit facility. This interpretation is also more in line with The suffix "to finance the construction of the project", which can refer only to the amount made available to the group members and not to the interest paid for it.