CONTRACT INTEREST RATE Sample Clauses

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CONTRACT INTEREST RATE. The principal balance of this Note shall bear interest at the rate of eight and twenty nine one hundredths percent (8.29%) per annum (the "Note Rate"). Interest shall be calculated on the basis of a 360-day year and computed each month in arrears on the basis of a 30-day month.
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CONTRACT INTEREST RATE. The principal balance of this Note shall bear interest at the rate that is the lesser of (i) the variable rate of interest determined from time to time as described in the next succeeding paragraph (the “Note Rate”) and (ii) the maximum interest rate allowed by law, as described in Section 24 below. Interest shall be calculated in arrears on actual days elapsed, based on a 360-day year. During any partial month, interest shall accrue based on the number of actual days which elapse during the related accrual period. The initial Note Rate, at which interest on the Loan shall accrue from the funding date through the last day of September, 2007, shall be six and twenty-eight one-hundredths percent (6.28%) per annum. On the first day of October, 2007 and thereafter at intervals of one full calendar month during the Loan’s term (each such month, a “Loan Month”), this Note Rate shall be adjusted to the per annum rate which is 78 basis points (the “Pricing Spread”) over the 1-month LIBOR rate (the “Index”), as reported by the Wall Street Journal on the last business day of the preceding month (in respect of any rate adjustment, the “Determination Date”). The Note shall bear interest at the adjusted Note Rate during the Loan Month comprising an accrual period. If the Wall Street Journal stops publishing the Index during the term of the Loan, the Lender shall determine the Index rate by referring to the LIBOR rate published in another nationally recognized daily paper or electronic business publication reasonably acceptable to the Lender. The Pricing Spread is subject to increase to ninety-eight (98) basis points as provided in the Facility Agreement if the debt service coverage ratio of the Property decreases below 1.30.
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CONTRACT INTEREST RATE. The Contract Interest Rate is hereby changed to a rate per annum equal to nine and fifty-five one-hundredths percent (9.54%).
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CONTRACT INTEREST RATE. Section 2(a) of the Second Amended Note is amended by adding thereto a new subsection (v) which reads as follows:
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CONTRACT INTEREST RATE. As used herein, the Contract Interest Rate is one hundred twenty percent (120%) of the rate listed below in subparagraph (a), (b) or (c), compounded semi-annually, which shall result in the maximum accrued interest when the amount due is paid: (a) the applicable federal mid-term rate in effect under Section 1274(d) of the Code for the date of execution of this Agreement; (b) the highest applicable federal rate in effect under Section 1274(d) of the Code for the applicable Start Date; or (c) for each month for which interest is payable, the applicable federal short-term rate in effect under Section 1274(d) of the Code for such month; provided, however, that if interest shall be payable with respect to any complete calendar year, then the blended annual rate, calculated pursuant to the provisions of Revenue Ruling 86-17, 1986-1 Cumulative Bulletin 377, shall be substituted for the twelve (12) separate monthly rates for that year.
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CONTRACT INTEREST RATE. The rate determined pursuant to Section 34.7.
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CONTRACT INTEREST RATE. Overdue payment obligations of the Owner and the Contractor hereunder (regardless of whether such payment obligation is imposed by the terms of this Contract or pursuant to Applicable Law, or otherwise) shall bear interest from the date due until the date paid at a rate per annum equal to the lesser of (a) the Prime Rate in effect from time to time plus two percent (2%), and (b) the highest rate permitted by Applicable Law. In the case of disputed invoices which were later determined payable, such interest rate shall be computed from the original invoice date until the date paid.
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CONTRACT INTEREST RATE. Overdue payment obligations of the Owner and the Contractor hereunder (regardless of whether such payment obligation is imposed by the terms of this Agreement or pursuant to Applicable Law, or otherwise) shall bear interest at the Contract Interest Rate as of the date due from the date due until the date paid.
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Related to CONTRACT INTEREST RATE

  • Fixed Interest Rate The loan interest rate hereunder is determined by the latest þ1-year ☐5-year and above ☐ other LPR published on the natural day before þ the Effective Date of this Contract ☐the loan issuance date plus (plus/less) 105.000000 basis points (LPR, the loan prime rate published by the National Interbank Funding Center, 1 basis point =0.01%, the same below), subject to the loan receipts or the electronic data and vouchers generated by E-banking such as online banking. During the term of loan, the loan interest rate shall not be adjusted.

  • Fixed Interest Rates Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of ARD Loans and situations where default interest is imposed.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Maximum Interest Rate In no event shall any interest rate provided for hereunder exceed the maximum rate legally chargeable under applicable law with respect to loans of the Type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 3.3, have been paid or accrued if the interest rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the applicable Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to the Borrower such excess.

  • Interest Rates All outstanding Term Loans to the Borrower shall bear interest on the unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Base Rate or Adjusted Term SOFR plus the Applicable Margin, but not to exceed the Maximum Rate. If at any time Term Loans are outstanding with respect to which the Borrower has not delivered to the Agent a notice specifying the basis for determining the interest rate applicable thereto in accordance herewith, those Term Loans shall be treated as Base Rate Loans until notice to the contrary has been given to the Agent in accordance with this Agreement and such notice has become effective. Except as otherwise provided herein, the Term Loans shall bear interest as follows: (i) For all Base Rate Loans, at a fluctuating per annum rate equal to the Base Rate plus the Applicable Margin; and (ii) For all SOFR Rate Loans, at a fluctuating per annum rate equal to Adjusted Term SOFR plus the Applicable Margin. Each change in the Base Rate (or any component thereof) shall be reflected in the interest rate applicable to Base Rate Loans as of the effective date of such change. All computations of interest for Base Rate Loans when the Base Rate is determined by the “prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). On the last Business Day of each calendar quarter hereafter and on the Termination Date, the Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest accrued from the last Business Day of the preceding calendar quarter to the last Business Day of such calendar quarter (or accrued to the Termination Date in the case of a payment on the Termination Date) on all Base Rate Loans in arrears. The Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest on all SOFR Rate Loans in arrears on each SOFR Interest Payment Date.