Implied APR Cap definition

Implied APR Cap means a limit on the total amount you may pay under this Agreement due to the Implied APR Limit. The Implied APR Cap will be met if at any time during the Payment Term your cumulative total of all Monthly Payments reaches an amount that causes your Implied Annual Percentage Rate to equal the Implied APR Limit. If the Implied APR Cap is met, your Monthly Payments will immediately stop, subject to your payment of any owed and outstanding fees provided for herein. “Implied APR Limit” means 19.99%.
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Implied APR Cap means [ 21%]. If at any time during the Payment Term your cumulative total of all Monthly Payments reaches an amount that caused your Implied Annual Percentage Rate to equal [21%], then your Monthly Payments will immediately stop, subject to your payment of any already owed and outstanding fees provided for herein. [ “Implied Annual Percentage Rate” reflects the cost of your Income Share Agreement as a yearly rate. The Implied Annual Percentage Rate will equal the monthly calculated internal rate of return for the initial Amount Financed paid on your behalf and all Monthly Payments actually paid by you under this Agreement.2]
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Examples of Implied APR Cap in a sentence

  • The sum of all Monthly Payments you pay under this Agreement will not exceed the lesser of the Multiple Payment Cap or an amount that would cause your Implied Annual Percentage Rate to equal the Implied APR Cap.

  • The sum of all Monthly Payments you pay under this Agreement will not exceed the lesser of the Multiple Payment Cap or the Implied APR Cap.

  • You may at any time satisfy in full your financial obligations to the Company under this Agreement by paying an amount equal to the Prepayment Amount, which is calculated by subtracting your total payments from the lesser of the Multiple Payment Cap or the Implied APR Cap, plus any unpaid fees (described in Section 9 below).

  • You may terminate your Agreement at any time by making a payment equal to the (X) lesser of (A) the Multiple Payment Cap or (B) an amount that would cause your Implied Annual Percentage Rate to equal the Implied APR Cap, less (Y) the sum of all Monthly Payments already made at that time, plus (Z) any outstanding fees.