Common use of Prescribed Rate Clause in Contracts

Prescribed Rate. The Borrower shall pay to the Bank interest at the rate of _____ per centum per annum (% p. a.) over and above the rate quoted by BNM (currently at ) and such rate shall be subject to revision at the absolute discretion of the Bank from time to time with or without notice to the Borrower.

Prescribed Rate. The Borrower shall pay to the Bank interest at the rate of the foreign currency funding rate plus _____ per centum per annum (% ( %p. a.) over and above the rate quoted by BNM (currently at ) and such rate shall be subject to revision at the absolute discretion of the Bank from time to time with or without notice to the Borrower.