Rate Default definition

Rate Default means, for index-based capacity release transactions, the non- biddable rate specified in the capacity release offer to be used for invoicing purposes when the result of the index-based formula is unavailable or cannot be computed. If a Rate Default is not otherwise specified, the Rate Floor shall serve as the Rate Default.
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Examples of Rate Default in a sentence

  • All computations using the Agreed Rate, Default Rate or Termination Rate shall use the “Actual/360” day count convention.

  • From and after the Maturity Date, or an earlier date on which all sums owing under this Note become due by acceleration or otherwise, all sums owing under this Note (both principal and interest) will bear interest until paid in full at a rate equal to five percent (5%) per annum in excess of the Contract Rate ("Default Rate").

  • Interest accruing at the Base Rate Default Rate shall include the first day, but exclude the last day of the period for which such interest is payable.

  • Commencing upon a Default and continuing until such Default shall have been cured by Borrower, all sums owing on this Note shall bear interest until paid in full at a rate per annum equal to 5% plus the Interest Rate ("Default Rate").

  • All computations of the LIBO Rate Default Rate shall be based on a year of 360 days and the actual days elapsed (including the first day, but excluding the last day of the applicable Interest Period).

  • The interest accruing at the Base Rate Default Rate, shall be payable on demand and/or on each Payment Date thereafter, as applicable, commencing on the date of such conversion.

  • All computations of the Base Rate Default Rate shall be based on a 365 day year (or 366 day year during a leap year) with respect to the actual days elapsed when such Base Rate Default Rate is payable.

  • In addition to the payment of interest at the Default Rate ("Default Interest"), the Customer shall pay, and otherwise indemnify and hold the Bank harmless from and against, all costs or losses arising from such default.

  • Where the reconciliation exercise carried out under Condition 12.8 confirms that the average of the actual grant paid and RCGF Funds used across the Named (Indicative) Projects delivered for a Tenure Type is more than the Average Grant Rate allocated to that Tenure Type (Grant Rate Default), the provisions of Condition 18.2.8 shall apply.

  • Any payment not made within five days after --------------------- the same is due hereunder, and including the entire balance of principal, interest, and other sums then due, shall bear interest at 3% above the then current Interest Rate ("Default Rate"), such interest to accrue from the date due until paid.

Related to Rate Default

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);