CURRENT INTEREST RATE Clause Samples

The "Current Interest Rate" clause defines the specific interest rate that applies to a loan or financial obligation at a given point in time. This clause typically outlines how the rate is determined, such as referencing a benchmark rate plus a margin, and may specify when and how the rate can change, for example, at regular intervals or in response to market fluctuations. Its core practical function is to provide clarity and transparency regarding the cost of borrowing, ensuring both parties understand the applicable rate and how it may be adjusted during the term of the agreement.
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than the Fixed Account Minimum Interest Rate shown on the Contract Data Page. DESIGNATED OPTION(S). The Investment Division(s) and/or 1-Year Fixed Account Option made available by the Company and selected by the Owner to which amounts will be transferred from a Source Option pursuant to one of the Company's systematic investment programs. FIXED ACCOUNT. Contract Values allocated to one or more Fixed Account Options. Allocations made to the Fixed Account Options are part of the general account of the Company. The general account is made up of all general assets of the Company, other than those in the Separate Account and other segregated asset accounts.
View SourceView Similar (5)
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than the Fixed Account Minimum Interest Rate. DESIGNATED OPTION(S). The Investment Division(s) and/or Fixed Account Option(s) made available by the Company and selected by the Owner to which amounts will be transferred from a Source Option pursuant to one of the Company's systematic investment programs. VA620 4
View SourceView Similar (4)
CURRENT INTEREST RATE. The rate(s) of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the Fixed Account Options. The Current Interest Rate will not be less than the Minimum Guarantee Rate as shown on the Contract Data Page. DOLLAR COST AVERAGING (DCA) You may authorize the automatic transfer of amounts, at the interval selected by You, from the 1-Year DCA Fixed Account Option to any Subaccount(s). All amounts allocated to the 1-Year DCA Fixed Account Option will be transferred out within the one year period. You may also authorize the automatic transfer of amounts at regular intervals and specified amounts or percentages from the 1-Year Fixed Account Option or any of the Subaccounts to any other Subaccount(s) (other than the source account). The unit values credited and applied to your Contract are determined on the dates of transfer(s). You may terminate DCA at any time. However, upon termination or annuitization, any amounts remaining in the 1-Year DCA Fixed Account Option will be transferred to the 1-Year Fixed Account Option. We reserve the right to change the terms and conditions of the DCA program at any time.
View SourceView Similar (3)
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than 3.00%.
View SourceView Similar (2)
CURRENT INTEREST RATE. The rate(s) of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the Fixed Account Options. The Current Interest Rate will not be less than the Minimum Guaranteed Rate as shown on the Contract Data Page. DOLLAR COST AVERAGING PROGRAM (DCA)
View Source
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than the Minimum Guaranteed Interest Rate shown on the Contract Data Page. FIXED ACCOUNT. Contract Values allocated to one or more Fixed Account Options under the Contract. Allocations made to Fixed Account Options are held under the general account of the Company. The general account is made up of all general assets of the Company, other than those in the Separate Account and other segregated asset accounts. VA250NY 4
View Source
CURRENT INTEREST RATE. The rates of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the DCA Account Options. The Current Interest Rate will not be less than the Minimum Guarantee Rate as shown on the Contract Data Page. The investment options under this Contract that are credited with a fixed rate of interest declared by the Company. All amounts allocated to the DCA Account Options become part of the Company’s general asset account. The general asset account contains all the assets of the Company except for the Separate Account and other segregated asset accounts. The DCA Account Options for this Contract are shown on page 4. An optional program under which You authorize the automatic transfer of specified amounts or percentages from one or more designated source accounts(s) into any Subaccount(s) other than the source account. Any portion of a Purchase Payment allocated to the DCA Account Option(s) must be transferred out within the specified DCA Account Option Period depending on which DCA Account Option is selected. Upon termination of the DCA program any amounts remaining in the DCA Account Option(s) will be transferred to the DCA target allocation(s) for the program being terminated. Upon annuitization, any amounts remaining in the DCA Account Option(s) will be applied to the Fixed Annuity Payments. The unit values credited and applied to Your Contract are determined on each date of transfer. We reserve the right to change the terms and conditions of the DCA program at any time.
View Source
CURRENT INTEREST RATE. THE APPLICABLE INTEREST RATE AS OF THE DATE HEREOF IS THE LIBOR RATE PLUS 2.25%. THE APPLICABLE INTEREST RATE IS SUBJECT TO CHANGE IN ACCORDANCE WITH THE LOAN DOCUMENTS.
View Source

Related to CURRENT INTEREST RATE

  • 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.

  • 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.

  • 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.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.

  • 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.