Nominal Rate Sample Clauses

The Nominal Rate clause defines the stated interest rate on a financial instrument or loan, not accounting for compounding within a specific period. In practice, this clause clarifies the percentage rate that will be used to calculate interest payments, regardless of how often interest is actually compounded or paid. Its core function is to provide a clear reference point for interest calculations, helping to avoid confusion or disputes over the actual cost of borrowing or the return on investment.
Nominal Rate. The nominal rate method of interest calculation shall apply to the calculation and payment of interest under this agreement and the Credit Union shall not be deemed to reinvest any interest from time to time received hereunder.
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Nominal Rate. The theory of deemed reinvestment shall not apply to the calculation of interest or payment of fees or other amounts hereunder, notwithstanding anything contained in this Agreement, acceptance or other evidence of indebtedness or in any other Loan Document now or hereafter taken by any Agent or any Lender for the obligations of Borrower under this Agreement, or any other instrument referred to herein, and all interest and fees payable by Borrower to the Lenders, shall accrue from day to day, computed as described herein in accordance with the "nominal rate" method of interest calculation.
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Nominal Rate. The theory of deemed reinvestment shall not apply to the calculation of interest or payment of fees or other amounts hereunder, notwithstanding anything contained in this Agreement, in any Note, acceptance or other evidence of indebtedness or in any other Canadian Loan Document now or hereafter taken by any Agent or any Canadian Lender for the obligations of the Company under this Agreement, or any other instrument referred to herein, and all interest and fees payable by the Company to the Canadian Lenders, shall accrue from day to day, computed as described herein in accordance with the "nominal rate" method of interest calculation.
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Related to Nominal Rate

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

  • Penal Rates (a) Weekend rate - applies to ordinary time (other than overtime) worked after midnight Friday/Saturday until midnight Sunday/Monday shall be paid at time one half (T0.5) in addition to the ordinary hourly rate of pay. (b) Public Holiday rate – applies to those hours which are worked on the public holiday. This shall be paid at time one (T1) in addition to the ordinary hourly rate of pay. (See clause 12.4-12.8 for further clarification.) (c) Night rate – applies to ordinary hours of duty (other than overtime) that fall between 2000hrs and until the completion of a rostered night duty from midnight Sunday/Monday to midnight Friday/Saturday and shall be paid at quarter time (T0.25) in addition to the ordinary hourly rate of pay. (d) Overtime and weekend/public holiday or night rates shall not be paid in respect of the same hours, the higher rate will apply.

  • Accrual Rates All eligible employees shall accrue vacation pay according to the following rates:

  • Rental Rate The Lessee shall pay rent to the Lessor for the premises at the following rate: Payment shall be made at the end of each month upon submission of properly executed vouchers.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.