Floating Interest Rate definition

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.
Floating Interest Rate means for each Pre-Delivery Period and Interest Period selected pursuant to Clause 5.3.1 the aggregate of LIBOR or EURIBOR (as the case may be) and the Margin;
Floating Interest Rate means a fluctuating rate per annum equal to LIBOR plus the Spread; provided, however, in no event shall LIBOR be deemed to be less than zero.

Examples of Floating Interest Rate in a sentence

  • Floating Interest Rate:- A floating interest rate, also known as a variable or adjustable rate, refers to any type of debt instrument, such as a loan, bond, mortgage or credit, that does not have a fixed rate of interest over the life of the instrument.


More Definitions of Floating Interest Rate

Floating Interest Rate means a Rate of Interest calculated in accordance with Condition 5(b).
Floating Interest Rate. Interest Rate Basis(es): Fixed Interest Rate: Fixed Rate Commencement Date: Inverse Floating Rate Note: [ ] Yes [ v ] No. If, Yes, Fixed Interest Rate: Floating Interest Rate: Interest Rate Basis(es): Initial Interest Rate, if any: Interest Rate Basis plus the Spread determined as of the second London banking day preceding the Original Issue Date Initial Interest Reset Date: December 22, 2004 Interest Rate Basis(es). Check all that apply: [ ] CD Rate [ ] Commercial Paper Rate [ ] CMT Rate [ ] Eleventh District Cost of Funds Rate [ v ] LIBOR [ ] Federal Funds Rate [ ] EURIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other (See Attached) If LIBOR: [ ] LIBOR Reuters Page [ v ] LIBOR Moneyline Telerate Page 3750 LIBOR Currency: U.S. Dollars If CMT Rate: Designated CMT Telerate Page: If 7052: [ ] Weekly Average [ ] Monthly Average Designated CMT Maturity Index: Index Maturity: Three months Spread (+/-): +0.15% Spread Multiplier: Not applicable Interest Reset Date(s): Each Interest Payment Date Interest Determination Date(s): The second London banking day preceding the related Interest Reset Date Maximum Interest Rate, if any: Not applicable Minimum Interest Rate, if any; Not applicable Calculation Agent: X.X. Xxxxxx Trust Company, National Association Exchange Rate Agent: Not applicable Computation of Interest (not applicable unless different than as specified in the prospectus and prospectus supplement): Day Count Convention (not applicable unless different than as specified in the prospectus and prospectus supplement):
Floating Interest Rate means, in respect of any Interest Period, the rate per annum determined by the Agent to be the aggregate of:
Floating Interest Rate means for each Pre-Delivery Period and Interest Period selected pursuant to Clause 5.3.1 and for the Delayed Principal Amount the aggregate of LIBOR and the applicable Margin;
Floating Interest Rate shall have the meaning set forth in Section 2.5(a).
Floating Interest Rate means the sum of (i) the Adjusted LIBOR Rate and (ii) the LIBOR Spread.