Floating Rate Payer Clause Samples

The Floating Rate Payer clause designates the party responsible for making payments based on a variable interest rate in a financial contract, such as an interest rate swap. This party pays amounts calculated by applying a specified floating rate index, like LIBOR or SOFR, to a notional principal amount over agreed periods. The clause ensures that the payment obligations tied to fluctuating market rates are clearly assigned, thereby facilitating risk management and transparency between the contracting parties.
Floating Rate Payer. Party A Calculation Amount: For each Floating Rate Payer Payment Date, the aggregate Invested Amount of the Relevant Notes as at the first day of the Calculation Period ending on but excluding that Floating Rate Payer Payment Date. The Calculation Amount for the initial Calculation Period will be USD1,000,000,000. The Calculation Amount will not ever exceed USD1,000,000,000 for any Calculation Period. Floating Rate Payer Each Distribution Date during the Payment Dates: period commencing on and including [ ] and ending on and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention Floating Rate Option: USD-LIBOR-BBA except that: (a) references to "London Banking Days" in section 7.1(a)(w)(xvii) and (xx) of the Annex (June 2000 version) to the 2000 ISDA Definitions will be replaced with references to "Banking Days" as that expression is defined in the Note Conditions: (b) references to "Telerate Page 3750" in section 7.1(w)(xvii) of the Annex (June 2000 version) to the 2000 ISDA Definitions will be replaced with references to "Rate Page" as that expression is defined in the Note Conditions; and (c) if USD-LIBOR-BBA cannot be determined in accordance with the 2000 ISDA Definitions as varied above (including endeavouring to determine a rate under the definition of "USD-LIBOR-Reference banks" in section 7.1(w)(xx)), it will remain as the most recently determined rate obtained from a Rate Page for a preceding Calculation Period. Designated Maturity: [ ] months Spread: [ ] Floating Rate Day Count Actual/360 Fraction: Reset Dates: The first day of each Calculation Period Compounding: Inapplicable
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Floating Rate Payer. Payment Dates: Early Payment shall be applicable. The Floating Rate Payer Payment Dates shall be two (2) Business Days prior to each Floating Rate Payer Period End Date, subject to adjustment in accordance with the Modified Following Business Day Convention. Floating Rate Option: USD-LIBOR-BBA; provided, however, if the Floating Rate Option for any Calculation Period is greater than 9.20% then the Floating Rate Option for such Calculation Period shall be deemed to be 9.20%
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Floating Rate Payer. Party A Party A Payment Dates: Each Business Day following notice from Party B or the Funding Agent that an Amortization Event as described in Section (xi) of such definition or any other Liquidation Event has occurred.
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Floating Rate Payer. Period End Dates: The 25th calendar day of each month during the Term of this Transaction, commencing October 25, 2005 and ending on the Termination Date, subject to adjustment in accordance with the Business Day Convention. Floating Rate for initial Calculation Period: To be determined Floating Rate Option: USD-LIBOR-BBA Designated Maturity: One month Spread: None Floating Rate Day Count Fraction: Actual/360 Reset Dates: The first day of each Calculation Period. Compounding: Inapplicable Business Days: New York Business Day Convention: Following Calculation Agent: BSFP
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Related to Floating Rate Payer

  • Fixed Rate Payer The Trust.

  • Interest Rate Payments Subject to Holder's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (b) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

  • Floating Rate/Fixed Rate Notes If this Note is specified on the face hereof as a “Floating Rate/Fixed Rate Note”, this Note will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which this Floating Rate/Fixed Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that: (A) the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate specified on the face hereof; and (B) the interest rate in effect commencing on the Fixed Rate Commencement Date will be the Fixed Interest Rate, if specified on the face hereof, or, if not so specified, the interest rate in effect on the day immediately preceding the Fixed Rate Commencement Date.

  • Regular Floating Rate Note Unless this Note is specified on the face hereof as a Floating Rate/Fixed Rate Note, this Note (a “Regular Floating Rate Note”) will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which interest on this Regular Floating Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate.

  • Interest on Late Payments a. State Agencies The payment of interest on certain payments due and owed by Agency may be made in accordance with Article 11-A of the State Finance Law (SFL §179-d et. Seq.) and Title 2 of the New York Code of Rules and Regulations, Part 18 (Implementation of Prompt Payment Legislation -2 NYCRR §18.1 et seq.).