Arrears Rate definition

Arrears Rate has the meaning set forth in Section 2.7.
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Arrears Rate means, at any time of determination, a rate per annum equal to the sum of
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Arrears Rate means 1%.
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Examples of Arrears Rate in a sentence

  • The Issuer will not be permitted to make any amendments without Noteholders’ consent if such amendment would affect in any way the Note Rate or Arrears Rate, the cumulative nature of any interest payment due on Amounts in Arrears, the outstanding principal amount of the Notes, the ranking of the Notes pursuant to Article 12 or the Maturity Date.

  • Each Amount in Arrears shall bear interest (in the case of any interest amount, as if it constituted the principal of the Notes) at a rate which corresponds to the Arrears Rate from time to time applicable to the Notes and the amount of such interest (the “Additional Interest Amount”) with respect to each Amount in Arrears shall be due and payable pursuant to this Section 2.08 and shall be calculated by the Trustee applying the Arrears Rate to the Amount in Arrears.

  • If any amount has fallen due for payment by DNB under this paragraph 2.5 but remains unpaid in breach of the terms of this Agreement, DNB shall pay to TIF interest on such amount at the Arrears Rate.

  • If any amount has fallen due for payment by TIF under paragraph 2.3 and/or paragraph 2.7, respectively, but remains unpaid in breach of the terms of this Agreement, TIF shall pay to DNB compensation on such amount at the Arrears Rate.


More Definitions of Arrears Rate

Arrears Rate means, in relation to any amount and as at any day, a rate per annum equal to the sum of (a) the Commercial Interest Reference Rate for the currency in which that amount is expressed as applicable as at that day and as published by the Organisation for Economic Co-operation and Development for a loan with shortest duration for which such rate is available (or, if no such rate is published by that organization, a comparable rate reasonably agreed between the Parties or, if the Parties fail to agree such comparable rate within four weeks after the time when it should be determined, as determined by arbitration in accordance with Section 4.7), and (b) 0.5 per cent. per annum.
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