Initial Base Rate Clause Samples
The Initial Base Rate clause defines the starting interest rate or reference rate used for calculating payments or adjustments in a financial agreement. Typically, this clause specifies the exact rate or the method for determining it at the commencement of the contract, such as referencing a published benchmark rate on a particular date. By establishing a clear and agreed-upon initial rate, the clause ensures transparency and consistency in financial calculations, preventing disputes over interest charges or payment amounts.
Initial Base Rate i. On the Effective Date, the base rate for loaded and empty throughput charges for each loaded and empty container, or empty handling charge or gate charge, as applicable (the “Base Rate”) moving through Barbours Cut Terminal shall be the following:
ii. On the Effective Date, the Base Rate moving through Bayport Terminal shall be the following:
iii. The initial Base Rate for containers moving through Barbours Cut Terminal shall be the one in effect under ▇▇▇▇▇▇ ▇▇. ▇▇ as of the Effective Date. The initial Base Rate for containers moving through Bayport Terminal shall be the one in effect under ▇▇▇▇▇▇ ▇▇. ▇▇ as of the Effective Date.
Initial Base Rate i. On the Effective Date, the base rate for loaded and empty throughput charges for each loaded and empty container, or empty handling charge or gate charge, as applicable (the “Base Rate”) moving through Barbours Cut Terminal shall be the following:
ii. On the Effective Date, the Base Rate moving through Bayport Terminal shall be the following: