Standard Variable Rate definition

Standard Variable Rate means our published standard variable rate tariff which is listed in the Charges Schedule.

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Standard Variable Rate or "SVR" means, as applicable, the Northern Rock standard variable mortgage base rate and/or the standard variable mortgage base rate applicable to Mortgage Loans within the Mortgages Trust in accordance with the Mortgage Conditions;

Standard Variable Rate. Subject to the provisions of Clause 7.9, the Seller covenants with the Mortgages Trustee, Funding and the Security Trustee that, where the Administrator determines on any date that there will be a Shortfall during the next succeeding Interest Period and notifies the Seller to such effect, the Seller shall take all steps which are necessary, including publishing any notice which is required in accordance with the Mortgage Conditions, to set the Standard Variable Rate and such other discretionary rates and margins applicable to the Mortgage Loans at such levels as may be notified to the Seller by the Mortgages Trustee, Funding or the Security Trustee (which rates shall be the same rates as previously notified to the Mortgages Trustee, Funding and the Security Trustee in accordance with Clause 4.3(b) of the Administration Agreement) as being the rates required in order for no Shortfall to arise.

Examples of Standard Variable Rate in a sentence

The APR will go up or down in accordance with variations in the Standard Variable Rate and (where applicable) the Special Interest Rate.
We may vary the Standard Variable Rate at any time at our sole discretion.
Nothing in this Clause 7.8 shall prevent the Seller (or any of its attorneys from time to time) from setting a higher Northern Rock Standard Variable Rate or higher rates for other discretionary rates and margins (or in the case of the Existing Borrowers' Re-Fix Rate setting a higher rate and imposing terms more advantageous to the Mortgages Trustee) than those to be set or required by the Mortgages Trustee, Funding and (other than in respect to an Existing Borrower's Re-Fix Rate) the Security Trustee.
Unless any of the Mortgages Trustee, Funding or the Security Trustee needs to do so to avoid a Shortfall, none of the Mortgages Trustee, Funding or the Security Trustee shall set the Standard Variable Rate and other discretionary rates and margins for Mortgage Loans which are in the Mortgages Trust (disregarding any discounts or additions to it) at rates higher than the then equivalent rates for mortgage loans which are not in the Mortgages Trust.
This means that you will pay interest on any unpaid Fees at the Standard Variable Rate.

More Definitions of Standard Variable Rate

Standard Variable Rate means the reversion rate which is a variable rate of interest charged under the regulated mortgage contract after the end of any initial introductory deal.

Standard Variable Rate means a variable rate that is determined by Skipton that may

Standard Variable Rate means a rate or amount charged for, or in relation to, the supply of gas or electricity under the contract that is not fixed for a period specified in the contract, and

Standard Variable Rate means a variable rate that is determined by Skipton that may apply from the end of the Early Repayment Charge Period or otherwise in accordance with the Loan Agreement. This rate can go up as well as down, which could affect the mortgage payments and the overall payable amount.

Standard Variable Rate. Subject to the provisions of Clause 7.9 (Shortfall), the Seller covenants with and undertakes to the Mortgages Trustee, each Funding Beneficiary and each Funding Security Trustee that, where the Administrator determines on any date that there will be a Shortfall during the next succeeding Interest Period and notifies the Seller to such effect, the Seller shall take all steps which are necessary, including publishing any notice which is required in accordance with the Mortgage Conditions, to set the Standard Variable Rate and such other discretionary rates and margins applicable to the Mortgage Loans at such levels as may be notified to the Seller by the Mortgages Trustee, any Funding Beneficiary or any Funding Security Trustee (which rates shall be the same rates as previously notified to the Mortgages Trustee, each Funding Beneficiary and each Funding Security Trustee in accordance with Clause 4.3(b) of the Administration Agreement) as being the rates required in order for no Shortfall to arise.

Standard Variable Rate. Subject to the provisions of Clause 7.9, the Seller covenants with the Mortgages Trustee, Funding and the Security Trustee that, where the Administrator determines on any date that there will be a Shortfall during the next succeeding Interest Period and notifies the Seller to such effect, the Seller shall take all steps which are necessary, including publishing any notice which is required in accordance with the Mortgage Conditions, to set the Standard Variable Rate at such level as may be notified to the Seller by the Mortgages Trustee, Funding or the Security Trustee (which rate shall be the same rate as previously notified to the Mortgages Trustee, Funding and the Security Trustee in accordance with Clause 4.3(b) of the Administration Agreement) as being the rate required in order for no Shortfall to arise.

Standard Variable Rate means the “Standard Variable Rate” specified in the Important Information Section. For clarity, the Standard Variable Rate is the variable rate of interest that is applicable to the Loan (as at the Agreement Date) for the Instalment Payments specified in the corresponding part of the Important Information Section.

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