Determination of Interest Rate definition

Determination of Interest Rate. The interest rate on the notes for the period from and including the original issue date to, but excluding, the interest payment date falling in December 2020 will be a per annum rate equal to the 3 Month LIBOR Rate, determined as of the second London banking day (as defined in the Preliminary Prospectus Supplement) immediately preceding the original issue date of the notes, plus 35 basis points (the “Margin”). Subject to the provisions set forth in the Preliminary Prospectus Supplement under the captions “—Description of the Notes—Interest Rate and Maturity” and “Description of the Notes—Effect of Benchmark Transition Event,” interest on the notes will be reset on each interest payment date for the notes (each of these dates is called an “interest reset date”), beginning with the interest reset date falling in December 2020, and will be a per annum rate equal to the 3 Month LIBOR Rate, determined as of the second London banking day immediately preceding the applicable interest reset date, plus the Margin. The interest rate on the notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application or lower than 0.00%. For additional information concerning the interest rate on the notes, including how the interest rate will be determined following the occurrence of a Benchmark Transition Event and its related Benchmark Replacement Date, see “Description of the Notes—Interest Rate and Maturity” and “Description of the Notes—Effects of Benchmark Transition Event” in the Preliminary Prospectus Supplement.
Sample 1
Determination of Interest Rate. The Eurodollar Rate for each Interest Period for Eurodollar Rate Loans shall be determined by the Administrative Agent pursuant to the procedures set forth in the definition of “Eurodollar Rate.” The Administrative Agent’s determination shall be presumed to be correct, absent manifest error, and shall be binding on the Loan Parties.
Sample 1

Examples of Determination of Interest Rate in a sentence

  • REMARKETING AND SETTLEMENT Interest Rate Adjustment Date; Determination of Interest Rate.

  • Determination of Interest Rate Offers and Selection of Interest Rates(a) The Participants may provide official financing support in accordance with Articles 6 and 7 above at an interest rate applying on the date an interest rate offer is made for the relevant aircraft, provided that the offer is accepted within its validity period in accordance with Article8.

  • Determination of Interest Rate Per Annum for Treasury Rate Notes.

  • Unit-VIMoney: Definitions, Functions, Classification of Money; Different Components of Money Supply; Money Demand – Classical Quantity Theory and Keynesian Liquidity Preference Theory; Determination of Interest Rate.

  • Belief in an area’s religious sacredness does not make development of that area an unconstitutional infringement of religion, and does not give the believer a legal right to stop the development.

  • Determination of Interest Rate Per Annum for Commercial Paper Rate Notes.

  • Borrowing Base Deficiency 50 Section 2.10 Optional Prepayments; Removal of Collateral 51 Section 2.11 Determination of Interest Rate.

  • Section 2.14 Special Provisions Governing Eurodollar Rate Loans (a) Determination of Interest Rate.

  • Determination of Interest Rate Periods 24 ARTICLE XI MISCELLANEOUS Section 11.01.

  • Determination of Interest Rate and Calculation of Interest Amount by the Calculation AgentThe Calculation Agent will, as soon as practicable after 11.00 a.m. (Brussels Time) on each Interest Determination Date in relation to each Interest Period, calculate the amount of interest (the " Interest Amount") payable in respect of each Note for such Interest Period.

Related to Determination of Interest Rate

  • Calculation of Interest Interest on the Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: October 1, 1998 to April 1, 1999 equals 6 months and 0 days, or 180 days; the interest paid equals 180/360 times the annual rate of interest times the principal amount of the Note. The period from December 3, 1998 to April 1, 1999 equals 3 months and 28 days, or 118 days; the interest payable equals 118/360 times the annual rate of interest times the principal amount of the Note.)

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Applicable Interest Rate means (i) with respect to any Fixed Rate Indebtedness, the fixed interest rate applicable to such Fixed Rate Indebtedness at the time in question, and (ii) with respect to any Floating Rate Indebtedness, either (x) the rate at which the interest rate applicable to such Floating Rate Indebtedness is actually capped (or fixed pursuant to an interest rate hedging device), at the time of calculation, if Borrower has entered into an interest rate cap agreement or other interest rate hedging device with respect thereto or (y) if Borrower has not entered into an interest rate cap agreement or other interest rate hedging device with respect to such Floating Rate Indebtedness, the greater of (A) the rate at which the interest rate applicable to such Floating Rate Indebtedness could be fixed for the remaining term of such Floating Rate Indebtedness, at the time of calculation, by Borrower’s entering into any unsecured interest rate hedging device either not requiring an upfront payment or if requiring an upfront payment, such upfront payment shall be amortized over the term of such device and included in the calculation of the interest rate (or, if such rate is incapable of being fixed by entering into an unsecured interest rate hedging device at the time of calculation, a fixed rate equivalent reasonably determined by Administrative Agent) or (B) the floating rate applicable to such Floating Rate Indebtedness at the time in question.

  • Capped Interest Rate is defined in the Note, if applicable.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Interest Rate Cap means a Cap.

  • Conversion to Fixed Interest Rate With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan is not a Convertible Mortgage Loan;

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Note Interest Rate means a per annum rate equal to 0.02% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Interest Rates means the interest rates provided for in Sections 2.11 and 2.12 of the Credit Agreement.

  • LIBOR Interest Rate means, for any LIBOR Loan, a rate per annum determined by Administrative Agent to be equal to the quotient of (1) the LIBOR Base Rate for such LIBOR Loan for the Interest Period therefor divided by (2) one minus the LIBOR Reserve Requirement for such LIBOR Loan for such Interest Period.

  • Net Interest Rate means with respect to any Note, the Interest Rate for such Note minus the Servicing Fee Rate applicable to such Note.

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;