Interest Rate definition
Examples of Interest Rate in a sentence
The Calculation Agent’s determination of any interest rate and its calculation of the amount of interest for any Interest Rate Reset Period beginning on or after the Initial Interest Rate Reset Date will be conclusive and binding absent manifest error, may be made in the Calculation Agent’s sole discretion and, notwithstanding anything to the contrary in the documentation relating to the Notes, will become effective without consent from any other Person or entity.
Interest will accrue on the aggregate unpaid principal amount of this Note from, and including, March 27, 2026 to, but excluding, July 31, 2031 (the “Initial Interest Rate Reset Date”) at a rate of 6.875% per annum.
All sums so paid by ▇▇▇▇▇▇▇▇ and all necessary incidental costs shall be deemed additional rent hereunder and shall be payable by Tenant to Landlord on demand, together with interest on all such sums from the date of expenditure by Landlord to the date of repayment by ▇▇▇▇▇▇ at the Interest Rate.
If the agreed or confirmed audit shows an underpayment of Operating Expenses by ▇▇▇▇▇▇, Tenant shall pay to Landlord, within thirty (30) days after the audit is agreed to or confirmed, the amount owed to Landlord, and, if the agreed or confirmed audit shows an overpayment of Operating Expenses by ▇▇▇▇▇▇, Landlord shall reimburse Tenant, within thirty (30) days after the audit is agreed to or confirmed, for such overpayment, plus interest at the Interest Rate.
The formula is: Interest = Outstanding Loan Balance × Number of Days Used × Loan Interest Rate / 360.