{"component": "clause", "props": {"groups": [{"samples": [{"hash": "khZfguZWAbk", "uri": "/contracts/khZfguZWAbk#contract-rate", "label": "Secured Term Note (New Century Energy Corp.)", "score": 18.0, "published": true}, {"hash": "enwIvRkVRzQ", "uri": "/contracts/enwIvRkVRzQ#contract-rate", "label": "Secured Term Note (New Century Energy Corp.)", "score": 18.0, "published": true}, {"hash": "7Gj4TLvzGgl", "uri": "/contracts/7Gj4TLvzGgl#contract-rate", "label": "Secured Term Note (New Century Energy Corp.)", "score": 18.0, "published": true}], "snippet": "Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the \u201cPrincipal Amount\u201d) shall accrue at a rate per annum equal to the \u201cprime rate\u201d published in The Wall Street Journal from time to time (the \u201cPrime Rate\u201d), plus two percent (2%) (the \u201cContract Rate\u201d). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [0, 19]}, {"key": "interest-payable", "type": "clause", "offset": [33, 49]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [57, 85]}, {"key": "this-note", "type": "clause", "offset": [89, 98]}, {"key": "per-annum", "type": "clause", "offset": [147, 156]}, {"key": "equal-to", "type": "definition", "offset": [157, 165]}, {"key": "the-wall-street-journal", "type": "clause", "offset": [196, 219]}, {"key": "from-time-to-time", "type": "clause", "offset": [220, 237]}, {"key": "the-contract-rate", "type": "definition", "offset": [303, 320]}, {"key": "the-case", "type": "definition", "offset": [356, 364]}, {"key": "increase-or-decrease", "type": "clause", "offset": [381, 401]}, {"key": "the-prime-rate", "type": "definition", "offset": [405, 419]}, {"key": "change-to", "type": "clause", "offset": [492, 501]}, {"key": "day-of", "type": "clause", "offset": [525, 531]}, {"key": "change-in", "type": "definition", "offset": [536, 545]}, {"key": "at-any-time", "type": "clause", "offset": [590, 601]}, {"key": "basis-of", "type": "clause", "offset": [675, 683]}, {"key": "in-arrears", "type": "definition", "offset": [726, 736]}, {"key": "on-march", "type": "clause", "offset": [749, 757]}, {"key": "business-day", "type": "definition", "offset": [780, 792]}, {"key": "calendar-month", "type": "definition", "offset": [813, 827]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [884, 904]}], "size": 59, "hash": "42a6944e8f412b4fc23cbdfc16d84308", "id": 1}, {"samples": [{"hash": "hUUNvtD34tZ", "uri": "/contracts/hUUNvtD34tZ#contract-rate", "label": "Secured Revolving Note (Spacedev Inc)", "score": 18.0, "published": true}, {"hash": "14OJlOZE9hC", "uri": "/contracts/14OJlOZE9hC#contract-rate", "label": "Secured Revolving Note (Spacedev Inc)", "score": 18.0, "published": true}], "snippet": "Subject to Sections 2.2 and 3.9, interest payable on the outstanding Principal Amount of this Note shall accrue at a rate per annum equal to the \u201cprime rate\u201d published in The Wall Street Journal from time to time (the \u201cPrime Rate\u201d), plus two percent (2.0%) (the \u201cContract Rate\u201d). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [0, 19]}, {"key": "interest-payable", "type": "clause", "offset": [33, 49]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [57, 85]}, {"key": "this-note", "type": "clause", "offset": [89, 98]}, {"key": "per-annum", "type": "clause", "offset": [122, 131]}, {"key": "equal-to", "type": "definition", "offset": [132, 140]}, {"key": "the-wall-street-journal", "type": "clause", "offset": [171, 194]}, {"key": "from-time-to-time", "type": "clause", "offset": [195, 212]}, {"key": "the-contract-rate", "type": "definition", "offset": [280, 297]}, {"key": "the-case", "type": "definition", "offset": [333, 341]}, {"key": "increase-or-decrease", "type": "clause", "offset": [358, 378]}, {"key": "the-prime-rate", "type": "definition", "offset": [382, 396]}, {"key": "change-to", "type": "clause", "offset": [469, 478]}, {"key": "day-of", "type": "clause", "offset": [502, 508]}, {"key": "change-in", "type": "definition", "offset": [513, 522]}, {"key": "basis-of", "type": "clause", "offset": [579, 587]}, {"key": "in-arrears", "type": "definition", "offset": [630, 640]}, {"key": "commencing-on", "type": "clause", "offset": [642, 655]}, {"key": "october-1", "type": "definition", "offset": [656, 665]}, {"key": "business-day", "type": "definition", "offset": [685, 697]}, {"key": "calendar-month", "type": "definition", "offset": [718, 732]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [789, 809]}], "size": 12, "hash": "50ca019d032edbd74ecb8b85c1892b5b", "id": 7}, {"samples": [{"hash": "hvqzXSDfDi1", "uri": "/contracts/hvqzXSDfDi1#contract-rate", "label": "Secured Convertible Minimum Borrowing Note (Accentia Biopharmaceuticals Inc)", "score": 18.0, "published": true}, {"hash": "hS9pZEx3MeV", "uri": "/contracts/hS9pZEx3MeV#contract-rate", "label": "Secured Convertible Minimum Borrowing Note (Accentia Biopharmaceuticals Inc)", "score": 18.0, "published": true}, {"hash": "dawGaZ8S5C6", "uri": "/contracts/dawGaZ8S5C6#contract-rate", "label": "Secured Convertible Minimum Borrowing Note (Accentia Biopharmaceuticals Inc)", "score": 18.0, "published": true}], "snippet": "Subject to Sections 4.2 and 5.10, interest payable on the outstanding principal amount of this Note (the \u201cPrincipal Amount\u201d) shall accrue at a rate per annum equal to the \u201cprime rate\u201d published in The Wall Street Journal from time to time (the \u201cPrime Rate\u201d), plus two percent (2.0%) (the \u201cContract Rate\u201d). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. Subject to Section 1.2, the Contract Rate shall not at any time be less than seven and three-quarters percent (7.75%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on May 4, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date and on the Maturity Date, whether by acceleration or otherwise.", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [0, 19]}, {"key": "interest-payable", "type": "clause", "offset": [34, 50]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [58, 86]}, {"key": "this-note", "type": "clause", "offset": [90, 99]}, {"key": "per-annum", "type": "clause", "offset": [148, 157]}, {"key": "equal-to", "type": "definition", "offset": [158, 166]}, {"key": "the-wall-street-journal", "type": "clause", "offset": [197, 220]}, {"key": "from-time-to-time", "type": "clause", "offset": [221, 238]}, {"key": "the-contract-rate", "type": "definition", "offset": [306, 323]}, {"key": "the-case", "type": "definition", "offset": [359, 367]}, {"key": "increase-or-decrease", "type": "clause", "offset": [384, 404]}, {"key": "the-prime-rate", "type": "definition", "offset": [408, 422]}, {"key": "change-to", "type": "clause", "offset": [495, 504]}, {"key": "day-of", "type": "clause", "offset": [528, 534]}, {"key": "change-in", "type": "definition", "offset": [539, 548]}, {"key": "at-any-time", "type": "clause", "offset": [617, 628]}, {"key": "basis-of", "type": "clause", "offset": [724, 732]}, {"key": "in-arrears", "type": "definition", "offset": [775, 785]}, {"key": "commencing-on", "type": "clause", "offset": [787, 800]}, {"key": "business-day", "type": "definition", "offset": [826, 838]}, {"key": "calendar-month", "type": "definition", "offset": [859, 873]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [929, 949]}], "size": 43, "hash": "c2ba5cc104fd98d540340841a6cb1a63", "id": 2}, {"samples": [{"hash": "ybPVIxaxRX", "uri": "/contracts/ybPVIxaxRX#contract-rate", "label": "Secured Term Note (True North Energy CORP)", "score": 19.0, "published": true}, {"hash": "eTlXWc0lpCX", "uri": "/contracts/eTlXWc0lpCX#contract-rate", "label": "Secured Term Note (True North Energy CORP)", "score": 19.0, "published": true}, {"hash": "eQ3HHqbF70P", "uri": "/contracts/eQ3HHqbF70P#contract-rate", "label": "Secured Term Note (True North Energy CORP)", "score": 19.0, "published": true}], "snippet": "Subject to Sections 3.2 and 4.10, interest payable on the outstanding principal amount of this Note (the \u201cPrincipal Amount\u201d) shall accrue at a rate per annum equal to thirteen percent (13.0%) (the \u201cContract Rate\u201d). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [0, 19]}, {"key": "interest-payable", "type": "clause", "offset": [34, 50]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [58, 86]}, {"key": "this-note", "type": "clause", "offset": [90, 99]}, {"key": "per-annum", "type": "clause", "offset": [148, 157]}, {"key": "equal-to", "type": "definition", "offset": [158, 166]}, {"key": "basis-of", "type": "clause", "offset": [255, 263]}, {"key": "in-arrears", "type": "definition", "offset": [306, 316]}, {"key": "commencing-on", "type": "clause", "offset": [318, 331]}, {"key": "october-1", "type": "definition", "offset": [332, 341]}, {"key": "day-of", "type": "clause", "offset": [371, 377]}, {"key": "calendar-month", "type": "definition", "offset": [395, 409]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [466, 486]}], "size": 37, "hash": "9368b3d144485c925fdd1e378f142968", "id": 3}, {"samples": [{"hash": "hPWizJaYchc", "uri": "/contracts/hPWizJaYchc#contract-rate", "label": "Secured Convertible Note (Dynamic Health Products Inc)", "score": 18.0, "published": true}, {"hash": "gt4Z5hIt568", "uri": "/contracts/gt4Z5hIt568#contract-rate", "label": "Secured Convertible Term Note (House of Brussels Chocolates Inc)", "score": 18.0, "published": true}, {"hash": "fUUEKPLU3C2", "uri": "/contracts/fUUEKPLU3C2#contract-rate", "label": "Secured Convertible Note (Dynamic Health Products Inc)", "score": 18.0, "published": true}], "snippet": "Subject to Sections 4.2 and 5.10, interest payable on the outstanding principal amount of this Note (the \u201cPrincipal Amount\u201d) shall accrue at a rate per annum equal to the \u201cprime rate\u201d published in The Wall Street Journal from time to time (the \u201cPrime Rate\u201d), plus two percent (2%) (the \u201cContract Rate\u201d). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. Subject to Section 1.2, the Contract Rate shall not be less than six percent (6%).", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [0, 19]}, {"key": "interest-payable", "type": "clause", "offset": [34, 50]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [58, 86]}, {"key": "this-note", "type": "clause", "offset": [90, 99]}, {"key": "per-annum", "type": "clause", "offset": [148, 157]}, {"key": "equal-to", "type": "definition", "offset": [158, 166]}, {"key": "the-wall-street-journal", "type": "clause", "offset": [197, 220]}, {"key": "from-time-to-time", "type": "clause", "offset": [221, 238]}, {"key": "the-contract-rate", "type": "definition", "offset": [304, 321]}, {"key": "the-case", "type": "definition", "offset": [357, 365]}, {"key": "increase-or-decrease", "type": "clause", "offset": [382, 402]}, {"key": "the-prime-rate", "type": "definition", "offset": [406, 420]}, {"key": "change-to", "type": "clause", "offset": [493, 502]}, {"key": "day-of", "type": "clause", "offset": [526, 532]}, {"key": "change-in", "type": "definition", "offset": [537, 546]}], "size": 33, "hash": "c2222d3606055a616d6cbde231e41f90", "id": 4}, {"samples": [{"hash": "8xMgCtZy6Eo", "uri": "/contracts/8xMgCtZy6Eo#contract-rate", "label": "Secured Term Note (Incentra Solutions, Inc.)", "score": 16.0, "published": true}], "snippet": "Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the \"PRINCIPAL AMOUNT\") shall accrue at a rate per annum equal to the \"prime rate\" published in THE WALL STREET JOURNAL from time to time (the \"PRIME RATE\"), plus two percent (2.0%) (the \"CONTRACT RATE\"). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. The Contract Rate shall not at any time be less than nine percent (9.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on May 1, 2006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [0, 19]}, {"key": "interest-payable", "type": "clause", "offset": [33, 49]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [57, 85]}, {"key": "this-note", "type": "clause", "offset": [89, 98]}, {"key": "per-annum", "type": "clause", "offset": [147, 156]}, {"key": "equal-to", "type": "definition", "offset": [157, 165]}, {"key": "the-wall-street-journal", "type": "clause", "offset": [196, 219]}, {"key": "from-time-to-time", "type": "clause", "offset": [220, 237]}, {"key": "the-contract-rate", "type": "definition", "offset": [305, 322]}, {"key": "the-case", "type": "definition", "offset": [358, 366]}, {"key": "increase-or-decrease", "type": "clause", "offset": [383, 403]}, {"key": "the-prime-rate", "type": "definition", "offset": [407, 421]}, {"key": "change-to", "type": "clause", "offset": [494, 503]}, {"key": "day-of", "type": "clause", "offset": [527, 533]}, {"key": "change-in", "type": "definition", "offset": [538, 547]}, {"key": "at-any-time", "type": "clause", "offset": [592, 603]}, {"key": "nine-percent", "type": "definition", "offset": [617, 629]}, {"key": "basis-of", "type": "clause", "offset": [678, 686]}, {"key": "in-arrears", "type": "definition", "offset": [729, 739]}, {"key": "commencing-on", "type": "clause", "offset": [741, 754]}, {"key": "business-day", "type": "definition", "offset": [781, 793]}, {"key": "calendar-month", "type": "definition", "offset": [814, 828]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [885, 905]}], "size": 17, "hash": "15d9c3e8b282a37b7c14df4df3063d94", "id": 5}, {"samples": [{"hash": "4tvcoeUaaxl", "uri": "/contracts/4tvcoeUaaxl#contract-rate", "label": "Sale and Servicing Agreement (Chase Manhattan Bank Usa)", "score": 18.0, "published": true}, {"hash": "1rOJBqDkqo5", "uri": "/contracts/1rOJBqDkqo5#contract-rate", "label": "Sale and Servicing Agreement (Chase Manhattan Bank Usa)", "score": 18.0, "published": true}], "snippet": "Each Receivable is a fully-amortizing fixed rate simple interest contract that provides for level scheduled monthly payments over its remaining term, and has a Contract Rate of at least 7.75% and not more than 20.00% and is not secured by any interest in real estate;", "snippet_links": [{"key": "fixed-rate", "type": "clause", "offset": [38, 48]}, {"key": "simple-interest-contract", "type": "definition", "offset": [49, 73]}, {"key": "payments-over", "type": "clause", "offset": [116, 129]}, {"key": "remaining-term", "type": "clause", "offset": [134, 148]}, {"key": "rate-of", "type": "clause", "offset": [169, 176]}, {"key": "real-estate", "type": "definition", "offset": [255, 266]}], "size": 14, "hash": "f698a6b8ce6b7302ac2d9c3fb4ca2817", "id": 6}, {"samples": [{"hash": "kssICgwM5EQ", "uri": "/contracts/kssICgwM5EQ#contract-rate", "label": "Waste Disposal Agreement", "score": 31.4741840363, "published": true}, {"hash": "eOYJfXlPRHT", "uri": "/contracts/eOYJfXlPRHT#contract-rate", "label": "Waste Disposal Agreement", "score": 31.2440776825, "published": true}, {"hash": "7AtEgzqJdVn", "uri": "/contracts/7AtEgzqJdVn#contract-rate", "label": "Waste Disposal Agreement", "score": 31.2418766022, "published": true}], "snippet": "(B) Calculation of Escalation. This section is amended in its entirety to read:", "snippet_links": [{"key": "calculation-of-escalation", "type": "clause", "offset": [4, 29]}], "size": 11, "hash": "74213b7b9f57cf46ba57bee8abdcc17f", "id": 8}, {"samples": [{"hash": "kssICgwM5EQ", "uri": "/contracts/kssICgwM5EQ#contract-rate", "label": "Waste Disposal Agreement", "score": 31.4741840363, "published": true}, {"hash": "4xJGNZi7eoG", "uri": "/contracts/4xJGNZi7eoG#contract-rate", "label": "Waste Disposal Agreement", "score": 31.2418766022, "published": true}, {"hash": "8iEvg5t0SAL", "uri": "/contracts/8iEvg5t0SAL#contract-rate", "label": "Waste Disposal Agreement", "score": 31.2385730743, "published": true}], "snippet": "(A) Generally. This section is amended in its entirety to read:", "snippet_links": [], "size": 8, "hash": "f9619fa69dd994253eae6aaea27692f1", "id": 9}, {"samples": [{"hash": "c5ZfIo9PXek", "uri": "/contracts/c5ZfIo9PXek#contract-rate", "label": "Sale and Servicing Agreement (Daimler Trucks Retail Trust 2024-1)", "score": 35.3134841919, "published": true}, {"hash": "bJebgUvqTyr", "uri": "/contracts/bJebgUvqTyr#contract-rate", "label": "Sale and Servicing Agreement (Daimler Trucks Retail Trust 2024-1)", "score": 35.2915802002, "published": true}, {"hash": "kuYhXTJvolL", "uri": "/contracts/kuYhXTJvolL#contract-rate", "label": "Sale and Servicing Agreement (Daimler Trucks Retail Trust 2023-1)", "score": 34.7385368347, "published": true}], "snippet": "Each Receivable has a stated interest rate of at least 1.00%.", "snippet_links": [{"key": "rate-of", "type": "clause", "offset": [38, 45]}], "size": 8, "hash": "6efa7df5418b507d1aab216b829b5fca", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZjb250cmFjdC1yYXRlIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "Contract Rate", "children": [["contract-rate", "Contract Rate"], ["contract-rate-adjustments-and-payments", "Contract Rate Adjustments and Payments"], ["contract-rate-payments", "Contract Rate Payments"], ["", ""], ["rule-violations", "Rule Violations"]], "size": 402, "parents": [["contract-rate-and-amortization", "Contract Rate and Amortization"], ["contract-rate", "Contract Rate"], ["contract-rate-and-minimum-borrowing-note", "Contract Rate and Minimum Borrowing Note"], ["representations-and-warranties-of-seller-conditions-relating-to-receivables", "Representations and Warranties of Seller; Conditions Relating to Receivables"], ["interest", "Interest"]], "id": "contract-rate", "related": [["interest-rate", "Interest Rate", "Interest Rate"], ["rate", "Rate", "Rate"], ["wage-rate", "Wage Rate", "Wage Rate"], ["payment-at-highest-lawful-rate", "Payment at Highest Lawful Rate", "Payment at Highest Lawful Rate"], ["highest-lawful-rate", "Highest Lawful Rate", "Highest Lawful Rate"]], "related_snippets": [], "updated": "2026-02-28T04:48:56+00:00", "also_ask": ["What negotiation levers can be used to adjust the contract rate in our favor?", "Which essential terms must be included to ensure the contract rate is clear and enforceable?", "What are the most common pitfalls or ambiguities in contract rate clauses that could lead to disputes?", "How does this contract rate compare to industry standards or statutory limits?", "What factors do courts consider when determining the enforceability of a contract rate provision?"], "drafting_tip": "Specify the contract rate formula, state the currency, and define adjustment mechanisms to prevent disputes and ensure clarity in payment obligations.", "explanation": "The Contract Rate clause defines the specific interest rate or payment rate that applies to amounts due under the contract. This rate is typically used to calculate interest on late payments, outstanding balances, or other financial obligations between the parties. By clearly establishing the applicable rate, the clause ensures both parties understand the cost of delayed payments and helps prevent disputes over interest calculations."}, "json": true, "cursor": ""}}