Maximum Legal Rate means the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Note and as provided for herein or the other Loan Documents, under the laws of such state or states whose laws are held by any court of competent jurisdiction to govern the interest rate provisions of the Loan.
Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, and shall include employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, one thousand nine hundred fifty (1,950) hours for seven and one-half (7.5) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;
Final rate means an indirect cost rate applicable to a specified past period which is based on the actual costs of the period. A final rate is not subject to adjustment.
Actual Rate of Pay means, unless and until the Agency Worker has completed the Qualifying Period, the rate of pay which will be paid for all time worked during an Assignment for each hour worked, as set out in the relevant Assignment Details Form;
ANNUAL RATE ADJUST: MONTHLY P&I : 2,547.01 OUTSIDE CONV DATE : LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/26 CURRENT INT RATE: 8.37500 PRODUCT CODE : 002 LTV : 89.13500 ---------------------------------------------------------------- 00030622088 MORTGAGORS: BRYAN GEORGE BXXXX XXXXXXXA REGION CODE ADDRESS : 9000 XXXXXXXXXX XXXXX 01 CITY : BXXXXXXXX STATE/ZIP : IL 61008 MORTGAGE AMOUNT : 506,850.00 OPTION TO CONVERT : UNPAID BALANCE : 506,550.76 ANNUAL RATE ADJUST: MONTHLY P&I : 3,942.23 OUTSIDE CONV DATE : LIFETIME RATE : 8.62500 MATURITY DATE : 10/01/26 CURRENT INT RATE: 8.62500 PRODUCT CODE : 002 LTV : 74.99300 ---------------------------------------------------------------- 00030622344 MORTGAGORS: O'DONNELL DAVID FOSXXXXX XXXXX REGION CODE ADDRESS : 500 XXXXXXX XXXX XXXXX 01 CITY : LXXXXXXXX STATE/ZIP : PA 19047 MORTGAGE AMOUNT : 220,000.00 OPTION TO CONVERT : UNPAID BALANCE : 219,739.29 ANNUAL RATE ADJUST: MONTHLY P&I : 1,711.14 OUTSIDE CONV DATE : LIFETIME RATE : 8.62500 MATURITY DATE : 09/01/26 CURRENT INT RATE: 8.62500 PRODUCT CODE : 002 LTV : 92.43600 ---------------------------------------------------------------- 00030622682 MORTGAGORS: SOUZA REECE SXXXX XXXXX REGION CODE ADDRESS : 10000 XXXXXXXXX XXXX 01 CITY : CXXXXXXX STATE/ZIP : CA 90703
Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;
Highest Lawful Rate means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted for, charged, or received under the laws applicable to any Lender which are presently in effect or, to the extent allowed by law, under such applicable laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable laws now allow.
Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period and subject to Condition 4(b)(ii), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.
Basic Rate of Pay means the incremental step in the Salaries Schedule applicable to an Employee in accordance with the terms of this Collective Agreement, exclusive of all premium payments.
Late Payment Rate As defined in the Insurance Agreement.
Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);
Current Accrual Rate means, with respect to each Payment Date and any Reference Obligation, the current mortgage rate, less the greater of (i) the related servicing fee rate and (ii) 35 basis points.
Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.
Base rate of pay means the employee’s hourly rate of pay excluding any premiums, incentives, add-ons or rollups.
Actual QP Rate of Pay means the rate of pay which will be paid to the Agency Worker if and when s/he completes the Qualifying Period, as set out in any variation to the relevant Assignment Details Form;
Non-Payment Period Rate means, initially, 200% of the applicable Reference Rate (or 275% of such rate if the Corporation has provided notification to the Auction Agent prior to the Auction establishing the Applicable Rate for any dividend pursuant to paragraph 2(f) hereof that net capital gains or other taxable income will be included in such dividend on shares of AMPS), provided that the Board of Directors of the Corporation shall have the authority to adjust, modify, alter or change from time to time the initial Non-Payment Period Rate if the Board of Directors of the Corporation determines and Moody's and S&P (and any Substitute Rating Agency in lieu of Moody's or S&P in the event either of such parties shall not rate the AMPS) advise the Corporation in writing that such adjustment, modification, alteration or change will not adversely affect their then-current ratings on the AMPS.