Standard Variable Rate Sample Clauses

The Standard Variable Rate clause defines the interest rate that may fluctuate over time according to changes in a lender’s base rate or other reference rates. In practice, this means that the amount of interest a borrower pays on a loan or mortgage can increase or decrease, typically at the lender’s discretion and often in response to market conditions or central bank rate changes. This clause ensures that the lender can adjust the rate to reflect economic shifts, thereby managing their risk and maintaining profitability, while also informing the borrower that their repayment amounts may vary during the term of the agreement.
Standard Variable Rate. 12.1. Subject to clauses 14 (Interest Free Period) and 15 (Special Interest Rate), the rate of interest applicable to the Facility is the Standard Variable Rate. We may vary the Standard Variable Rate at any time at our sole discretion. 12.2. If we vary the Standard Variable Rate: (a) we will give you notice of the variation by a notice in accordance with clause 30 (Notices) by advertising in one or more newspapers circulating in Ireland, through the Customer Portal or on our website; (b) the variation will take effect from date specified in the notice; and (c) in consequence of the variation, we may in our absolute discretion vary the amount of the Instalment Payments over the remainder of the Term. 12.3. Interest at the Standard Variable Rate is calculated on the outstanding balance of the Facility on a day-to-day basis and is charged on each Instalment Payment Date starting on the first Instalment Payment Date after the Agreement Date (as well after as before judgment or demand).
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Standard Variable Rate. 7.1 Prior to the transfer of legal title from the Seller to the Mortgages Trustee, the Seller covenants with the Mortgages Trustee, the Issuer and the Security Trustee that, where the Mortgages Trustee and the Issuer (or the Trust Property Cash Manager and the Issuer Cash Manager on their behalf) determine on any Payment Calculation Date that there will be a Revenue Shortfall during the next succeeding Interest Period and notify the Seller to such effect, the Seller or the Administrator on its behalf shall take all steps which are necessary, including publishing any notice which is required in accordance with the Mortgage Loan Conditions, to set the Seller’s Standard Variable Rate and any other discretionary rate or margin applicable to the Mortgage Loans at or above such level (or where Clydesdale has ceased to be the Basis Rate Swap Provider, at such level being at least the equivalent of Compounded Daily ▇▇▇▇▇ plus 2.301 per cent.) as may be notified to the Seller by the Mortgages Trustee and the Issuer (or the Trust Property Cash Manager and the Issuer Cash Manager on their behalf) as being the minimum level required in order for no Revenue Shortfall to arise. For the purposes of this Clause 7.1, “Compounded Daily ▇▇▇▇▇” shall be calculated by the Trust Property Cash Manager using the ▇▇▇▇▇ Reference Rate as at the relevant Payment Calculation Date as reference rate for the calculation of interest for the immediately following Interest Period (with the resulting percentage rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards). 7.2 The Seller shall grant security powers of attorney to the Mortgages Trustee in the form set out in Schedule 4 (Form of Seller Power of Attorney) allowing the Mortgages Trustee and its delegates from time to time, inter alia, to set the Standard Variable Rate and any other discretionary rate or margin applicable to the Mortgage Loans should the Seller fail to do so in accordance with its obligations under Clause 7.1. Nothing in this Clause 7.2 shall prevent the Seller (or any of its attorneys from time to time other than the Mortgages Trustee) from setting the Standard Variable Rate and any other discretionary rate or margin applicable to the Mortgage Loans higher than any rate to be set or required to be set by the Mortgages Trustee. 7.3 The Mortgages Trustee (or the Issuer Cash Manager, as assisted by the Trust Property Cash Manager on its behalf) shall only set the Standard Variable Rate and ...
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Standard Variable Rate. 13.1. Subject to clauses 15 (Interest Free Period), the rate of interest applicable to the Loan is the Standard Variable Rate. We may vary the Standard Variable Rate at any time at our sole discretion for the reasons set out in Clause 15. 13.2. If we vary the Standard Variable Rate: (a) we will give you notice of the variation by a notice in accordance with clause 28 (Notices); (b) the variation will take effect from date specified in the notice; and (c) in consequence of the variation, we may in our absolute discretion vary the amount of the Instalment Payments over the remainder of the Term. 13.3. Interest at the Standard Variable Rate is calculated on the outstanding balance of the Loan on a day-to-day basis and is charged on each Instalment Payment Date starting on the first Instalment Payment Date after the Agreement Date (as well after as before judgment or demand).
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Related to Standard Variable Rate

  • Variable Rate The initial ANNUAL PERCENTAGE RATE for Purchases is a fixed promotional rate as shown on page 1 of this Agreement and will remain in effect for your first six (6) billing cycles following the opening of your account ("Initial Rate Period for Purchases"). The Daily Periodic Rate during the Initial Rate Period for Purchases is 0%. After the Initial Rate Period for Purchases, the Daily Periodic Rate for Purchases based on the Current Index and Rate Spread described below will be .0493% and the corresponding ANNUAL PERCENTAGE RATE will be 18.00%. After the Initial Rate Period for Purchases, the ANNUAL PERCENTAGE RATE for Purchases will change to the current rate shown on page 1 of this Agreement. The ANNUAL PERCENTAGE RATE for transfers of account balances you have with another creditor ("Balance Transfers") is a fixed rate as shown on page 1 of this Agreement and will be in effect for eight (8) billing cycles following the opening of your account. The Daily Periodic Rate for Balance Transfers during the eight-billing cycle period is 4.99%. The Daily Periodic Rate for Balance Transfers after the eight-billing cycle period based on the Current Index and Rate Spread described below will be .0493% and the corresponding ANNUAL PERCENTAGE RATE will be 18.00%. The ANNUAL PERCENTAGE RATE for Balance Transfers after the eight-billing cycle period will change to the current rate shown on page 1 of this Agreement. The current Daily Periodic Rate for Purchases and Balance Transfers is .0493%. The Daily Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE may change (by increasing or decreasing) on the first day of each of your billing cycles that begin in March, June, September, and December. Each date on which the rate of interest could change is called a "Change Date." Changes will be based on changes in the "Index." The Index is the highest U.S. Prime Rate published in the "Money Rates" section of The Wall Street Journal on the last business day of the calendar month prior to the month in which the Change Date occurs. The most recent Index is called the “Current Index.” If the Index is no longer available, we will choose a new index based upon comparable information and will give you notice of our choice. Your interest rate for Purchases is based on a variable rate equal to the sum of the Current Index plus a "Rate Spread" of 12.99 percentage points. (The Rate Spread is also called the Margin.) Immediately before each Change Date we will determine the new interest rate for Purchases by adding the Rate Spread to the Current Index. For example, if the Current Index was 7.00% and the Rate Spread 12.99 percentage points, the ANNUAL PERCENTAGE RATE would be 18.00% and by dividing this percentage figure by 365, we would compute a Daily Periodic Rate of .0493%. The new interest rate for Purchases will become effective at the start of your first billing cycle after the Change Date. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate permitted by law. The effect of any increase in the ANNUAL PERCENTAGE RATE and the Daily Periodic Rate for Purchases would be to increase the amount of interest you must pay and thus increase your monthly payments.

  • Explanation of Variable Rates If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase. In that case, you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the billing period. The Daily Periodic Rate (DPR) is 1/365th of the APR, rounded to the nearest one ten-thousandth of a percentage point. The variable penalty APR will not exceed 29.99%. How Rates and Fees Work

  • Subsequent Variable Rate Transactions From the date hereof until such time as the Note is fully converted or fully repaid, the Company shall be prohibited from effecting or entering into an agreement involving a Variable Rate Transaction. “Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock or (ii) enters into any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price. The Buyer shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.

  • Fixed Rate In the event the Borrower has opted for a Fixed Rate of interest, the interest rate shall remain fixed throughout the tenure of the Loan. The applicable Fixed Rate shall be the prevailing interest rate on the date of disbursement.

  • No Variable Rate Transactions The Company shall not effect or enter into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction, other than in connection with an Exempt Issuance. The Investor shall be entitled to seek injunctive relief against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to any right to collect damages, without the necessity of showing economic loss and without any bond or other security being required.