Daily Periodic Rate Sample Clauses

Daily Periodic Rate. (DPR) and Annual Percentage Rate (APR). The DPR and corresponding APR used to calculate the FINANCE CHARGE for your Card will be stated in a Credit Voucher provided to you when you open your credit card account. (That document is a part of this Agreement.) After you open your account, rate information will be provided in periodic statements, Credit Vouchers, or notices that we send to you.
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Daily Periodic Rate. The Daily Periodic Rate for all APRs equals the APR divided by 365. Interest Rates and Interest Charges Annual Percentage Rate (APR) for Purchases Prime Rate plus 1.99% This APR will vary with the market based on the Prime Rate. APR for Balance Transfers or Convenience Checks Prime Rate plus 1.99% This APR will vary with the market based on the Prime Rate. APR for Cash Advances (Non-Overdraft & Overdraft) Prime Rate plus 15.99% for Non-Overdraft Cash Advances. Prime Rate plus 15.99% for Overdraft Cash Advances. These APRs will vary with the market based on the Prime Rate. Penalty APR and When it Applies Prime Rate plus 21.99% This APR will vary with the market based on the Prime Rate. This APR may be applied to your Account if you fail to make the required minimum monthly payment within 60 days of the respective payment due date. How Long Will the Penalty APR Apply?: If your APRs are increased for this reason, the Penalty APR will apply until you make five consecutive minimum payments when due. Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on Purchases if you pay the entire balance by the due date each month. We will begin charging interest on Cash Advances, Balance Transfers, and Convenience Checks on the transaction date. Minimum Interest Charge If you are charged interest, the charge will be no less than $2.50.
Daily Periodic Rate. The APR for Purchases and the APR for Cash Advances are calculated by adding the Margins disclosed in the accompanying Summary of Terms to the Prime Rate reported in The Wall Street Journal on the first Tuesday of every month, or if The Wall Street Journal is not published on that day, on the next publication day. APRs are adjusted monthly, effective as of the first day of your first Billing Cycle ending on or after the date of the Prime Rate change. APRs will vary with the market based on variations in the Prime Rate. The applicable Daily Periodic Rate will be equal to 1/365 of the applicable APR. The accompanying Summary of Terms shows the Daily Periodic Rates and corresponding APRs determined under the above formula, as of the date specified in the Summary of Terms. If the Prime Rate increases the Daily Periodic Rate and corresponding Annual Percentage Rate under the above formula may increase. As a result, the Interest Charges, the Minimum Payment Due and the number of payments may also increase. Minimum Interest Charge. If your Account is subject to an Interest charge during any Billing Cycle, the Minimum Interest Charge will be $1.50, if the calculated Interest charge would otherwise be less. How We Compute the Balance Subject to Interest Rate. Interest for a Billing Cycle is calculated separately for Purchase and Cash Advance balances. Convenience Checks are included in the Cash Advance balance. For each balance type we use the daily balance method (including current transactions). For each balance type, we figure the interest charge on your account by applying the applicable Daily Periodic Rate to the applicable “daily balance” of your account for each day in the Billing Cycle. To get the “daily balance” for Purchases, we take the beginning Purchases balance of your account each day (including any unpaid Interest, Minimum Interest Charges and Fees), add any new Purchases and Fees, and any Interest accrued on the previous day’s daily balance, and subtract the applicable portion of any new payments or credits. To get the “daily balance” for Cash Advances, we take the beginning Cash Advances balance of your account each day (including any unpaid Interest and Fees), add any new Cash Advances and Fees, and any Interest accrued on the previous day’s daily balance, and subtract the applicable portion of any new payments or credits. (All Fees are included in the Purchases daily balance except Cash Advance Fees and Foreign Transaction Fees related to Cash A...
Daily Periodic Rate. The Daily Periodic Rate is calculated from the applicable APR. The Daily Periodic Rate is equal to the applicable APR divided by 365 (or 366 in a leap year). We may use the Daily Periodic Rate to calculate the Finance Charge as described in this Agreement. Finance Charges resulting from the application of Daily Periodic Rates will accrue daily and be calculated on the Average Daily Balances (including new transactions) for each Account feature (Purchases, Cash Advances, Balance Transfers, and Promotional Balances). Default – Subject to applicable law and any right that you may have under that law, we may require immediate payment of your entire Account balance and you will be in Default if, (1) you do not make at least the Minimum Payment Due on or before the Payment Due Date, (2) a Cardholder or Authorized User exceeds or tries to exceed the Credit Limit without our permission, (3) a payment you make is rejected or cannot be processed, (4) we reasonably believe that a Cardholder’s ability to pay us is materially impaired (for example, if you become subject to bankruptcy or insolvency proceedings or if an attachment or garnishment proceeding are instituted against you or your property), (5) you provide us with false, misleading or fraudulent information or a false signature, (6) a Cardholder dies or is legally declared incompetent or incapacitated, (7) you fail to comply with any provision of this Agreement, (8) you or an Authorized User makes illegal use of any financial service under the Account, (9) you fail to give us a current physical address when you apply and whenever you move, or (10) you or an Authorized User continues to use an Account or Card that has been closed.
Daily Periodic Rate. The Daily Periodic Rate for all APRs equals the APR divided by 365.
Daily Periodic Rate. The Daily Periodic Rate is 1/365th of the corresponding Annual Percentage Rate (“APR”) rounded to the nearest 1/100,000th of 1 , not to exceed the maximum allowed by applicable law. If the daily periodic rates and corresponding Annual Percentage Rates increase, the FINANCE CHARGE will increase and your minimum payment due may be greater. If the Finance Charge is less than $1.00 in any billing cycle, we assess a minimum Finance Charge of $1.00.
Daily Periodic Rate. The Daily Periodic Rate is Skip-A-Pay Fee: If you elect to participate in our Skip-A-Payment program you will be charged a fee of $25.00 for each payment skipped.
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Daily Periodic Rate. The daily periodic rate is determined by dividing the Annual Percentage Rate (APR) by 365 days. APRs are either standard or introductory.
Daily Periodic Rate. We determine the Daily Periodic Rate by dividing the applicable APR by 365. 11.

Related to Daily Periodic Rate

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate.

  • Daily All time worked after forty-eight (48) hours per week or after ten (10) hours per day, or before seven o’clock in the forenoon (7:00 a.m.) and six o’clock in the afternoon (6:00 p.m.) shall be deemed overtime work or shift work and shall be paid at time and one-half (1 1/2) the regular shift rate, save and except shift work.

  • Applicable Interest Rates (a) U.S.

  • Interest and Applicable Margins (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders with respect to the various Loans made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Loans which are designated as Index Rate Loans (and for all other Obligations not otherwise set forth below), the Index Rate plus the Applicable Revolver Index Margin per annum or, with respect to Revolving Loans which are designated as LIBOR Loans, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum; and (ii) with respect to such portion of the Term Loans designated as an Index Rate Loan, the Index Rate plus the Applicable Term Loan Index Margin per annum or, with respect to such portion of the Term Loans designated as a LIBOR Loan, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum. The Applicable Margins shall be as follows: Applicable Revolver Index Margin 2.75 % Applicable Revolver LIBOR Margin 3.75 % Applicable Term Loan Index Margin 2.75 % Applicable Term Loan LIBOR Margin 3.75 % 1 Borrower to supply account information. provided; however, the Applicable Margins, with respect to the Term Loan, shall be adjusted (up or down) prospectively on a quarterly basis as determined by Holdings’ and its Subsidiaries’ consolidated financial performance. Adjustments in Applicable Margins will be determined by reference to the following grids: Level of Applicable Margin Leverage Ratio Applicable Term Loan Index Margin Applicable Term Loan LIBOR Margin Level I ³ 4.00 to 1.00 3.25 % 4.25 % Level II ³ 2.50 to 1.00, and < 4.00 to 1.00 2.75 % 3.75 % Level III < 2.50 to 1.00 2.25 % 3.25 % All adjustments in the Applicable Margins shall be implemented quarterly on a prospective basis, five (5) Business Days after the date of delivery to Lenders of the quarterly unaudited Financial Statements evidencing the need for an adjustment. Concurrently with the delivery of those Financial Statements, Borrower shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. If any Default or an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that reduction shall be deferred until the first day of the first calendar month following the date on which all Defaults or Events of Default are waived or cured.

  • Unused Line Fee Borrower shall pay to Lender monthly an unused line --------------- fee at a rate equal to three-eighths (3/8%) percent per annum calculated upon the amount by which the Revolving Loan Limit exceeds the average daily principal balance of the outstanding Revolving Loans and Letter of Credit Accommodations during the immediately preceding month (or part thereof) while this Agreement is in effect and for so long thereafter as any of the Obligations are outstanding. Such fee shall be payable on the first day of each month in arrears.

  • Applicable Margin On any date the Applicable Margin for LIBOR Rate Loans and Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of REIT and its respective Subsidiaries to the Gross Asset Value of REIT and its respective Subsidiaries: Pricing Level Ratio LIBOR Rate Loans Base Rate Loans Pricing Level 1 Less than or equal to 35% 2.50 % 1.25 % Pricing Level 2 Greater than 35% but less than or equal to 40% 2.75 % 1.50 % Pricing Level 3 Greater than 40% but less than or equal to 45% 3.00 % 1.75 % Pricing Level 4 Greater than 45% but less than or equal to 55% 3.25 % 2.00 % Pricing Level Ratio LIBOR Rate Loans Base Rate Loans Pricing Level 5 Greater than 55% 3.50 % 2.25 % The initial Applicable Margin shall be at Pricing Level 4. The Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Borrower to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Borrower shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Applicable Margin for Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Applicable Period, (ii) the Applicable Margin shall be determined as if the Pricing Level for such higher Applicable Margin were applicable for such Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.

  • LIBOR Rate The election of LIBOR Rates shall be subject to the following terms and requirements:

  • Base Rate The higher of (a) the annual rate of interest announced from time to time by BKB at its head office in Boston, Massachusetts, as its "base rate" and (b) one-half of one percent (1/2%) above the Federal Funds Effective Rate. For the purposes of this definition, "Federal Funds Effective Rate" shall mean for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by the Agent from three funds brokers of recognized standing selected by the Agent.

  • Letter of Credit Fees, Interest Rate The Letter of Credit Fees and the rate of interest for each Loan otherwise applicable pursuant to Section 2.9.2 [Letter of Credit Fees] or Section 4.1 [Interest Rate Options], respectively, shall be increased by 2.0% per annum;

  • Calculations Respecting Accrued Interest Accrued interest, if any, on any LIBOR Certificate shall be calculated based upon a 360-day year and the actual number of days in each Accrual Period.

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