Contract Rate means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable.
Contract Rate means, as to any Contract, the annual rate of interest with respect to such Contract.
Contract Rate shall have the meaning set forth in Section 3.1 hereof.
Examples of Contract Rate in a sentence
The Contract has a fixed Contract Rate and provides for monthly payments of principal and interest which, if timely made, would fully amortize the loan on a simple-interest basis over its term.
Teachers working on extended contracts will receive pay for working beyond the normal teaching contract (summer months) at the following rate: Amount paid for: Daily Contract Rate times # of days extended contract = compensation amount.
Each Receivable provides that a prepayment by the related Obligor will fully pay the principal balance and accrued interest through the date of prepayment based on such Receivable’s Annual Percentage Rate or Contract Rate, as applicable.
More Definitions of Contract Rate
Contract Rate has the meaning given such term in the respective Note.
Contract Rate means, with respect to a Receivable, the rate per annum of interest charged on the outstanding principal balance of such Receivable.
Contract Rate has the meaning assigned in Section 2.2.
Contract Rate means the amount of any interest (including fees, charges or expenses or any other amounts that, under applicable law, are deemed interest) contracted for, charged or received by or for the account of Noteholder.
Contract Rate means, with respect to any particular Contract, the rate of interest specified in that Contract and computed on a precomputed basis with an actuarial rebate of unearned interest upon prepayment, provided that the rebate upon prepayment of Contracts originated in California or Oklahoma may be computed on the simple interest method if so required by applicable law or regulations.
Contract Rate means as specified in Section 13.12(a).