Contract Interest Rate definition

Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid.

Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its "prime rate." If a Citibank, N.A. prime rate is not available, the applicable prime rate shall be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid. "Contract Price" means the applicable price, expressed in $/MWh for Net Output and Capacity Rights stated in Section 5.1.

Contract Interest Rate means, as to any Contract, the annual rate of interest specified in the Contract.

Examples of Contract Interest Rate in a sentence

• If any amount disputed by such Party is determined to be due to the other Party, or if the Parties resolve the payment dispute, the amount due must be paid within five (5) Business Days after such determination or resolution, along with interest at the Contract Interest Rate from the date due until the date paid.

• Any amounts not paid when due under this Agreement will bear interest at the Contract Interest Rate from the date due until paid.

• If any statement is found to be inaccurate, a corrected statement will be issued and, subject to Section 10.4, any amount due from one Party to the other Party as a result of the corrected statement will be promptly paid including the payment of interest at the Contract Interest Rate from the date of the overpayment or underpayment to the date of receipt of the reconciling payment.

More Definitions of Contract Interest Rate

Contract Interest Rate means the rate specified as such on the Term Sheet.

Contract Interest Rate means the rate specified as such on the Term

Contract Interest Rate means [*] percent ([*]%) plus the [*] day U.S. Dollar LIBOR rate effective for the date that payment was due, as published by The Wall Street Journal, Eastern U.S. Edition, on the date such payment was due (or, if unavailable on such date, the first date thereafter on which such rate is available), or, if lower, the maximum rate permitted by Law.

Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or

Contract Interest Rate shall have the meaning set forth in Section 6.5.1.

Contract Interest Rate means on a particular date the rate of interest being five 5% above:

Contract Interest Rate means the lesser of: (a) the highest rate permitted under applicable Requirements of Law; or (b) two hundred (200) basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Xxxxxxxx, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with Ten Billion Dollars ($10,000,000,000) or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid. “Contract Price” is defined in Exhibit K.