Current Index definition

Current Index. The index, as provided in each Mortgage Note, used to adjust the Mortgage Interest Rate on each Interest Rate Change Date.

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Current Index has the meaning indicated in Section 4.2(b).

Current Index. The published Index that is effective on the 15th day before the applicable Rate Change Date.

Examples of Current Index in a sentence

• Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI-U Calculation Example: CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.

• Formula is as follows: Current Index – Base Index / Base Index = % of Change CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% % of Change x 100 = Percentage Change CPI-U Calculation Example: A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.

• Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change PPI Calculation Example: PPI for current period 232.945 Less PPI for base period 229.815 Equals index point change 3.130 Divided by base period PPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.

• Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.

• 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%.

More Definitions of Current Index

Current Index means the index derived for the November of the year immediately preceding the year in which a New Index is derived.

Current Index means the Index that is determined by Lender on each Rate Determination Date.

Current Index. The published Index that is effective on the Business Day immediately preceding the applicable Rate Change Date.

Current Index means the Index for the month of September immediately preceding each anniversary date of the Commencement Date.

Current Index means the Index in effect for the first month of the lease year for which the adjustment in rent is calculated.

Current Index means, with respect to each Interest Change Date, the Index Rate figure most recently available as of such Interest Change Date.

Current Index means the most recent Index figure available thirty (30) days before the Change Date.