Common use of Interest Payable Clause in Contracts

Interest Payable. Any rate of interest that we might be obligated to pay to you as a matter of law for a delay or incorrect transfer arising out of our error will be the lower of the federal funds rate at the time of the correction, or the dividend or interest rate which we pay on the Account to or from which the funds transfer should have occurred.

Interest Payable. Any rate of interest that we might be obligated to pay to you as a matter of law for a delay or incorrect transfer arising out of our error will be the lower of the federal funds rate at the time of the correction, or the dividend or interest rate which we pay on the Account to or from which the funds transfer should have occurred.

Interest Payable. Any rate of interest that we might be obligated to pay to you as a matter of law for a delay or incorrect transfer arising out of our error will be the lower of the federal funds Federal Funds rate at the time of the correction, or the dividend or interest rate which we pay on the Account to or from which the funds transfer should have occurred.