Variable Rate of Interest definition

Variable Rate of Interest means a rate calculated as follows:
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Variable Rate of Interest. (VRI) means the interest rate announced by AHFL from time to time as its RPLR and applied by AHFL with spread, if any, as may be decided by AHFL on the loan of the Borrower pursuant to this Agreement.
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Variable Rate of Interest shall be the rate of interest linked to the RLLR applied with spread by BANDHAN BANK on the loan.
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Examples of Variable Rate of Interest in a sentence

  • The Borrower is aware and confirms with AHFL that in case of Variable Rate of Interest, the Rate of Interest shall change as and when there is any change/reset in the RPLR.

  • Such variation/revision in Variable Rate of Interest due to change in RPLR shall be updated by AHFL on its Website ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or notified to the Borrower through broadcast mail or SMS.

  • Type : Variable Rate of Interest linked to SMHFC Retail Prime Lending Rate (RPLR).

Related to Variable Rate of Interest

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Prime Rate of Interest means the prime rate of interest published from time to time in the Wall Street Journal as the prime rate; provided, however that if the Wall Street Journal does not publish the Prime Rate of Interest, then the term “Prime Rate of Interest” shall mean the rate of interest publicly announced by Bank of America, N.A., as its Prime Rate, Base Rate, Reference Rate or the equivalent of such rate, whether or not such bank makes loans to customers at, above, or below said rate.

  • Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;

  • First Reset Rate of Interest means, in respect of the First Reset Period and subject to Condition 5.2(b), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the Reference Rate and the First Margin;