Fixed Rate of Interest Clause Examples

The Fixed Rate of Interest clause establishes a predetermined, unchanging interest rate that will apply to a loan or financial obligation throughout its term. This means that regardless of fluctuations in market interest rates, the borrower will consistently pay the same rate specified in the agreement. For example, if a loan agreement sets a fixed rate of 5%, the borrower’s interest payments remain at that rate for the duration of the loan. The core function of this clause is to provide certainty and predictability for both parties by eliminating the risk of interest rate changes during the contract period.
Fixed Rate of Interest. In the event the Borrower(s) opts for Fixed Rate of Interest, the rate of interest applicable to the Loan, as at the date of execution of this Agreement shall remain fixed over the tenor as specified in the KFS.
View SourceView Similar (4)
Fixed Rate of Interest. The Notes will bear interest from the date of issue to but excluding December 2, 2026 at a fixed annual rate of 3.527% payable in semi-annual installments on June 2 and December 2 of each year, with the first interest payment due on June 2, 2017.
View SourceView Similar (3)
Fixed Rate of Interest. Subject to Condition 3(g), interest is payable on each Interest Payment Date at a rate of 10.00 per cent. per annum (the “Rate of Interest”) and shall be calculated in accordance with these Conditions on each Interest Payment Date in respect of each CCN.
View SourceView Similar (2)
Fixed Rate of Interest. (i) The Notes will bear interest from the date of issue to but excluding May 25, 2021 at a fixed annual rate of 3.85% payable in semi-annual installments on May 25 and November 25 of each year, with the first interest payment due on November 25, 2016 and the last interest payment due on May 25, 2021. (ii) The Notes will bear interest from and including May 25, 2021 to but excluding May 25, 2026 at a fixed rate of interest equal to the 5-year SGD Swap Rate plus 1.97% payable in semi-annual installments on May 25 and November 25 of each year, commencing November 25, 2021. The Corporation shall provide to the Trustee in writing its interest calculation in respect of such period.
View SourceView Similar (2)
Fixed Rate of Interest. In the event the Borrower(s) opts for Fixed Rate of Interest, the rate of interest applicable to the Loan as at the date of execution of this Loan Agreement is mentioned in the Loan Summary Schedule. Though the rate of Interest is fixed at the beginning of the Loan , however the same is subject to change / revision upwards or downwards at the sole discretion of FICCL under exceptional and extraordinary changes in money market conditions.
View SourceView Similar (2)
Fixed Rate of Interest. The Borrowers may, by giving not less than five Business Days’ notice in writing, request that a fixed rate of interest shall apply on the whole of the Loan for a period of 12 months or more by giving to the Facility Agent a notice which shall specify the period for which the fixed rate of interest shall apply and shall be given at least five Business Days before the end of the then current Interest Period. The Facility Agent shall notify the Borrowers of the fixed rate of interest to apply (which shall be determined at the level of the actual refinancing rates available to the Lenders (as certified by them) for the relevant period to which such fixed rate is to apply plus the Margin) and the Borrowers shall either accept or refuse the offer promptly in writing and in any event within one Business Day. Such offer and acceptance shall be in a form that shall constitute a Finance Document. Once accepted, the Borrowers may not revoke their acceptance and the relevant fixed rate of interest shall apply to the Loan from the first day of the next Interest Period. If the Borrowers refuse the offer or fails to accept it within the time permitted for acceptance, the other provisions of this Clause 8 (Interest) shall continue to apply.
View Source
Fixed Rate of Interest. Interest on the loan will be fixed at ….... % per annum on daily reducing balance with monthly rests for a period of ........years from the date of first disbursement. Thenceforth the interest rate in the account will be reset to floating Home Loan card rate prevailing as on the date of reset. The effective rate of Interest on the loan outstanding will be charged at the rate of ……% (spread) above RBI’s Repo Rate which is …. % p. a as on 01st day of current calendar quarter. The present effective rate of interest being …% p. a calculated on daily balance of the loan amount at monthly rests, subject to the interest rate reset on the 1st day of every calendar quarter, on the basis of the prevailing RBI Repo Rate. The spread is sum of Credit Risk Premium of ……% and other cost including operating cost. The Bank shall at any time and from time to time be entitled to change Credit Risk Premium when borrower’s credit assessment undergoes change. Also, other cost including operating cost can be altered periodically at Bank’s discretion.”. The Bank has the option to reduce or increase the EMI or extend the repayment period or both consequent upon revision in interest rate. The Bank shall be entitled to charge at its own discretion such enhanced rate of interest on the account(s) either on the entire outstanding or on a portion thereof as it may fix for any irregularity including non- observance or non-compliance of terms and conditions of the loan, for such period as the Bank deems it necessary and charging of such enhanced rate of interest shall be without prejudice to the Bank's other rights and remedies. Borrower shall be deemed to have notice of change in the rate of interest when the changes are notified at/displayed at the branch notice board or published in a newspaper or in the website of the Bank or made through the statement of account / pass book.
View Source
Fixed Rate of Interest. Interest shall be charged at a fixed rate of interest being % p.a. computed as 6 months TBLR of % and spread of % and calculated on daily balance of the loan amount at monthly rests. Interest rate on the facility will remain fixed for the entire tenor of the facility from the date of first disbursal. The rate of interest payable by the Borrower/s shall be subject to changes based on guidelines /directives issued by RBI to banks from time to time/money market condition. The Borrower/s also note and acknowledge that Bank is obliged to give effect to any revision of interest rates, whether upwards or downwards, on all Existing advances/financial assistances as per the RBI guidelines/directives. Floating rate of Interest: Interest shall be charged at a floating rate of interest % p.a. until varied by the Bank in terms of this Agreement, the Borrower shall pay the floating rate of interest prevailing TBLR + margin/spread plus applicable interest tax and/ or other statutory levies. The Borrower shall pay Pre-EMI at % per annum until commencement of the EMI payable on the dated mentioned below plus applicable interest tax and /or other statutory levies. [Details of spread captured in the Schedule-II.]
View Source
Fixed Rate of Interest. The Debentures will bear interest from the Issue Date to but excluding May 9, 2023 at a fixed annual rate of 3.317% payable in equal semi-annual installments on May 9 and November 9 of each year, with the first interest payment due on November 9, 2018 and the last interest payment due on May 9, 2023.
View Source

Related to Fixed Rate of Interest

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing: (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or (b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar Revolving Borrowing, such Borrowing shall be made as an ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted.

  • Default Rate of Interest Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

  • Rate of Interest The Rate of Interest payable from time to time in respect of Floating Rate Notes will be determined in the manner specified in the applicable Final Terms.

  • Normal rate of interest Subject to the provisions of this Agreement, the rate of interest on the Loan in respect of an Interest Period shall be the aggregate of the Margin and LIBOR for that Interest Period.

  • Limit on Rate of Interest (a) No Payment shall exceed Lawful Rate. Notwithstanding any other term of this Agreement, the Borrower shall not be obliged to pay any interest or other amounts under or in connection with this Agreement in excess of the amount or rate permitted under or consistent with any applicable law, rule or regulation.