Variable Interest Clause Samples

Variable Interest. Each variable interest rate provided for under this Agreement will change automatically, without notice, whenever the Prime Rate or the U.S. Base Rate, as the case may be, changes.
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Variable Interest. In the event that the Company's net income for any financial year before the Maturity Date exceeds EUR 2,000,000, the Principal shall accrue an additional variable interest of 2% (the "Variable Interest"), which shall be calculated based on a 360 days’ year and shall be due and payable on the Maturity Date. For the avoidance of doubt, the Variable Interest will amount to 0% in the event that the net income does not exceed EUR 2,000,000. The Variable Interest shall be added to the Principal and the Fixed Interest, and considered for the purposes of capitalizing the Loan, excluding any withholding tax to be applied to the Variable Interest.
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Variable Interest. If the summary specifies the interest rate is variable, subject to the following clause, each change in interest rate shall take effect on the date the Reserve Bank of Australia publishes a change in the Cash Target Rate. The lender must notify the borrower of each interest rate change within 14 days of such change. If the lender fails or chooses not to so notify the borrower of an interest rate increase within 14 days of publication by the Reserve Bank of an increase in the Target Cash Rate, that interest rate increase shall not apply. The lender may recalculate the instalments payable by the borrower if there is an alteration to the rate of interest payable or if there is any further advance or any other money become payable. The lender shall recalculate the instalments payable so as to ensure, as nearly as practicable, that the amount of the loan and interest thereon will be repaid to the lender on the due date. In the event that instalments are not recalculated then any additional interest payable shall be capitalized monthly. The lender shall give notice in writing to the borrower of any recalculation and upon receipt of such notice the borrower shall pay to the lender the instalments as recalculated by the lender. If the borrower pays to the lender payments in excess of those then due and the lender accepts them, those payments shall be credited to the borrower’s account with the lender but the borrower’s obligation to make any succeeding payment on the due date for payment shall not be altered. The commencing interest rates are as specified in the summary
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Variable Interest. (1) If it is noted in the interest clause of the deposit application that variable interest shall be paid in respect of any deposit period or in respect of one or more of the deposit periods, the deposit principal shall bear, for the said period, variable interest at the rate identical to the prime interest, as determined by the Bank from time to time, less a fixed-rate margin set forth in the deposit application. The deposit interest rate correct as at the deposit commencement date until a change in the prime interest, as set forth below, is as set forth in the deposit application. (2) Wherever there is a change in the prime interest at the Bank, the deposit interest rate shall change accordingly and the interest shall be computed in accordance with the number of days to which the said rate applies, divided by 365 or 366, in accordance with the number of days in the year in which the said period falls. If part of the computation period is in a 365 day year and the other part in a 366 day year, the computation shall be made in respect of each part separately, in accordance with the number of days in the year in which such part of the deposit period in respect of which the computation is being made, falls. (3) Notwithstanding the provisions of Clause 6.2.3(2) above, if the Prime interest is not determined for any day, the interest rate shall not be computed as aforesaid, but as of such date until the date on which the Prime interest is again determined, the interest applicable shall be variable interest at the rate determined by the Bank each day and applicable in respect of such day only, which shall be identical to the interest rate prevailing at the Bank on such day in respect of new 7 day “fixed Pakam” deposits, in an amount similar to the deposit amount as shall be on such day, as noted in the interest rates table.
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Variable Interest. During the portion of the Term beginning on the day after Project Completion and continuing through the Interest Accrual Period ending on December 31, 2003, Borrower shall pay Variable Interest on a monthly basis in arrears on each Interest Payment Date, in an amount equal to nine and ninety-nine one hundredths of one percent (9.99%) of the EBITDA of the Borrower for the calendar month prior to such Interest Payment Date. By way of illustration, the Variable Interest payment due on March 15, 2003 would be based on the EBITDA of the Borrower for the calendar month of February, 2003. Within twenty (20) days after the delivery of the audited financial statements for the fiscal year of Borrower ending on September 30, 2003 pursuant to Section 13.1, the Borrower shall adjust the amount of Variable Interest paid in respect of such fiscal year by either paying additional Variable Interest in an amount computed by subtracting (x) the sum of the monthly Variable Interest payments previously made by Borrower in respect of such fiscal year from (y) nine and ninety-nine one hundredths of one percent (9.99%) of the actual EBITDA set forth in such financial statements for such fiscal year, or, if the resulting difference is negative, by crediting the difference against each successive monthly payment of Fixed Interest by Borrower until fully reimbursed to the Borrower. Each payment of Variable Interest shall be accompanied by Borrower's detailed computation of the amount of such payment and a copy of its financial statements upon which such computation is based.
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Variable Interest. If this Note provides for interest which may vary based on changes in a designated, published, or otherwise determined rate (hereafter referred to as the "reference rate"), the interest rate on this Note shall change effective: with each change in the Wall Street Journal Prime Rate as published in the Wall Street Journal. If more than one change in the reference rate occurs before such effective date, the most recent change shall control.
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Variable Interest. Each variable interest rate provided for in this Agreement will change automatically, without notice, whenever the Prime Rate, the US Base Rate, applicable Bankers Acceptance Yield, LIBO Rate, or any applicable SOFR Benchmark Rate, as the case may be, changes.
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Variable Interest. The interest rate We shall use to calculate the Periodic Rate and the corresponding Average Daily Balance may change the first day of each billing period, and shall be effective for that billing period. The applicable interest rate shall be equal to the prevailing “Prime Rate” on the first day of the billing period, plus the number of percentage points set as a margin in the Statement of Charges and Fees. “Prime Rate” shall be the base rate for commercial loans announced by no less than 75% of the 30 largest banks in the United States, as published in The Wall Street
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Variable Interest. THIS PARAGRAPH IS TO PROVIDE RECORD NOTICE OF THE RIGHT OF MORTGAGEE TO INCREASE OR DECREASE THE INTEREST RATE ON ANY OF THE OBLIGATIONS IN ACCORDANCE WITH THE TERMS OF THE LOAN DOCUMENTS WHERE THE TERMS AND PROVISIONS OF SUCH LOAN DOCUMENTS PROVIDE FOR A VARIABLE INTEREST RATE.
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Related to Variable Interest

  • VARIABLE INTEREST RATE The interest rate on this Note is subject to change from time to time based on changes in an independent index which is the the Prime Rate as published in the Wall Street Journal on the first business day of the previous month (the "Index"). The Index is not necessarily the lowest rate charged by Lender on its loans. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute index after notice to Borrower. Lender will tell Borrower the current Index rate upon ▇▇▇▇▇▇▇▇'s request. The interest rate change will not occur more often than each month, beginning May 1, 2004. Borrower understands that Lender may make loans based on other rates as well. The Index currently is 4.000% per annum. The interest rate to be applied to the unpaid principal balance of this Note will be at a rate equal to the Index, resulting in an initial rate of 4.000% per annum. NOTICE: Under no circumstances will the interest rate on this Note be more than the maximum rate allowed by applicable law.

  • Consolidation of Variable Interest Entities All references herein to consolidated financial statements of the Borrower and its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein.

  • 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.

  • Applicable Interest Rates (a) U.S.

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.