Interest Rate Reduction. Upon Early Termination of Service (prior to age 55 and 10 plan years of service) the Deferral Account crediting rate applicable until all benefits are paid, shall be reduced to 4%
Interest Rate Reduction. I may qualify for a 0.25% interest rate discount during repayment if I set up automatically withdrawn payments from a qualifying personal deposit account. The 0.25% interest rate reduction is effective the day EFT application is successfully processed during the Repayment Period. The discount may reduce my monthly payment and the amount of interest I will pay over the life of the loan. I also agree that, if I cancel the automatic debits, or if any automatic withdrawals that I authorized are returned or declined, Lender will increase my interest rate by 0.25 percentage points back to the original Fixed Rate. I understand that if Lender cancels my automatic payment discount due to withdrawals that are declined or returned, I may apply again for the automatic payment discount by re-submitting my bank account information to Lender or the servicer.
Interest Rate Reduction. After the Director's Termination of Service, the interest rate under Section 3.1.2 shall be 7.00%, compounded monthly
Interest Rate Reduction. Provided however, after the Director's Termination of Service, the interest rate to be credited to the Director's Deferral Account under Section 3.1.2 shall be 1% under the prime lending rate reported in the Wall Street Journal on the first business day on or before the anniversary date of this Agreement.
Interest Rate Reduction. 5.1 The interest rates with respect to the Line Note and any other Note which bears interest at a floating rate shall be reduced by one quarter of one percent (1/4%) per annum at all times while the following conditions shall have been satisfied by Company:
Interest Rate Reduction. You may redeem SALT Tokens when originating your loan in exchange for a reduced interest rate. For example, a one year $100,000 loan with a 12.95% APR would have 12 scheduled monthly payments of $8,929.38. If you redeem 336.7 SALT Tokens at origination, the one year $100,000 loan will have a 7.90% interest rate (7.95% APR) and 12 scheduled monthly payments of $8,694.20. Redemption of SALT Tokens during loan origination will be considered a “financing charge” and set forth in the applicable Truth-In-Lending Disclosure. The specific amount of SALT Tokens required to redeem for an interest rate reduction will vary from time to time as displayed on the Platform. We are under no obligation to redeem SALT Tokens as described herein. The ability to redeem SALT Tokens may be subject to additional terms, conditions, and restrictions, and may be declined in our sole discretion. The recognition of any redemption in SALT Tokens may have certain tax implications and you should seek legal and tax advice with regard to any redemption in SALT Tokens.
Interest Rate Reduction. Section 10.4(a) of each of the Agreements is hereby amended to read as follows:
Interest Rate Reduction. Section 20(g) of the Xxxxxxxxx Refinance Note shall be deleted in its entirety and replaced with the following:
Interest Rate Reduction. (a) The Initial Interest Rate shall be permanently reduced to the Reduced Interest Rate if (i) the Closing Price of the Common Stock for at least 20 Trading Days in any 30 consecutive Trading Day period is equal to or greater than the Applicable Conversion Price per share on such Trading Day (the “Reduced Interest Rate Trigger”) and (ii) the shelf registration statement covering resales of the Securities is effective and available for use pursuant to the terms of the Registration Rights Agreement for at least 30 calendar days following the Reduced Interest Rate Trigger, unless registration is no longer required (upon the occurrence of clauses (i) and (ii), the “Interest Rate Reduction”).
Interest Rate Reduction. (a) Provided there exists no Default or Event of Default, the Applicable Margin with respect to the Prime Based Rate and the LIBO Based Rate shall be reduced to (i) .25% per annum and 1.875% per annum, respectively, upon Administrative Agent's determination (which shall be conclusive so long as made on a reasonable basis) that (1) the Improvements (other than (A) Buildings 5 and 9, (B) unleased tenant space and (C) minor "punch list" items) have been satisfactorily completed, lien-free, in accordance with this Agreement and all building and other permits necessary for the tenants thereof to begin to fit out their respective premises have been issued by the appropriate Governmental Authority, (2) Debt Service Coverage is at least 1.00, provided, however, that -------- ------- in computing Debt Service Coverage for purposes of this clause (C), the revenue component of Net Operating Income under clause (a) of the definition thereof in Section 1.01 of the Agreement shall, for any date of determination, be a pro- forma amount computed as set forth in sub-clause (x) of said clause (a) but based only on leases where all acceptance-of-possession co-tenancy requirements have been satisfied and (3) Guarantor is in compliance with the covenants set forth in paragraphs 9 and 10 of the Payment Guaranty and (ii) .00% per annum and 1.625% per annum, respectively, upon Administrative Agent's determination (which shall be conclusive so long as made on a reasonable basis) that (1) the Hotel, the Tenant-Constructed Improvements and the Improvements (other than (A) unleased tenant space in the Improvements and (B) minor "punch-list" items) have been satisfactorily completed, lien-free, in accordance with this Agreement and final certificates of occupancy issued therefor by the appropriate Governmental Authority, (2) at least 80% of the total SFGLA in the Retail/Tenant-Constructed Improvements is covered by Qualifying Leases having an unexpired term of one (1) year or more, and at least 80% of the Residential Units is covered by Residential Leases, pursuant to which, in each case, the tenants thereunder are in occupancy and paying rent, (3) Guarantor is in compliance with the covenants set forth in paragraphs 9 and 10 of the Payment Guaranty and (4) Debt Service Coverage is at least 1.30. The two (2) interest rate reductions provided for in this paragraph are hereinafter referred to as the "First Rate Reduction" and the "Second Rate Reduction", respectively.
