Common use of Applicable Rate Clause in Contracts

Applicable Rate. The Applicable Rate (using a 365-day year) shall be determined in accordance with the following chart for each Settlement Currency: Settlement Currency Applicable Rate U.S. Dollars ***** Association Obligor – Any Person (other than Carrier) (i) directly liable (a “Direct Obligor”) for obligations owed to any Card Association on account of Sales Records ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. submitted to a Card Association hereunder (for example, Chargebacks and Card Association fines and assessments), or (ii) indirectly liable to any Card Association on account of Sales Records submitted to a Card Association hereunder through an indemnity given to a Direct Obligor or a guarantee of payment of any such indemnity obligation to a Direct Obligor (an “Indirect Obligation”).