Common use of Term Interest Rate Clause in Contracts

Term Interest Rate. The term "Term Interest Rate" shall mean the variable per annum rate equal to the Bank’s Corporate Base Rate from time to time in effect and after an Event of Default or maturity (whether by lapse of time, the occurrence of the stated maturity date, acceleration or otherwise) until paid in full, the variable per annum rate determined by adding 3% to the Bank’s Corporate Base Rate from time to time in effect.

Term Interest Rate. The term "“Term Interest Rate" ” shall mean the variable per annum rate equal determined by adding 0.5% to the Bank’s Corporate Base Prime Rate from time to time in effect and after an Event of Default or maturity (whether by lapse of time, the occurrence of the stated maturity date, acceleration or otherwise) until paid in full, the variable per annum rate determined by adding 33.5% to the Bank’s Corporate Base Prime Rate from time to time in effect.