Lower Rate definition

Lower Rate. As defined in the definition of Minimum Defaulted Monthly Payment.

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Lower Rate means a rate of interest which is 2% per annum below the rate of interest that we used for the purpose of calculating the rent due under this contract;

Lower Rate means the number of weeks indicated in Staff Regulation 301.16 as payable to a staff member with neither a spouse nor dependent child at the time of separation; "higher rate" shall mean the number of weeks indicated therein as payable to a staff member with a spouse or dependent child at the time of separation.

Examples of Lower Rate in a sentence

FEP shall not be required to offer any Lower Rate to Shipper which (i) applies to any contract with Shipper; or (ii) results from the temporary or permanent assignment or release of firm capacity by Shipper or any other shipper under FEP's Tariff.
In such event, Shipper shall be neither required, nor entitled, to increase the Contract MDQ to the Lower Rate MDQ.
Notwithstanding section 5.1 through section 5.5 above, Bonneville may allow the CAISO to: (1) manage EIM Incremental Flows in a manner that exceeds Bonneville’s Upper Rate of Change Limit or Lower Rate of Change Transfer Limit; (2) operate the EIM in a manner that exceeds Managed Limits; or (3) exceed scheduling limits identified on the ETSR or any transmission schedules associated with the ETSR.
Switch to Lower Rate (Plot Loans)- Variable Rate Switch to Lower Rate (Loans under HDFC Reach)- Variable Rate 0.5% of principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of Conversion.
In the event of a Lower Rate Mandate, at ELE’s sole discretion, Section 3.3 and 3.5 of this Agreement may be deemed amended to permit ELE to pay at the rate established by the Lower Rate Mandate effective on the same date the Lower Rate Mandate becomes effective.
If interest is paid when due and there is then no subsisting Event of Default, the Financiers will accept interest calculated at the Lower Rate in relation thereto.
Greater than or equal to 1.50:1.00, and no Event of Default has occurred and is continuing 6.25% (the “Lower Rate”) Less than 1.50:1:00, or an Event of Default has occurred and is continuing 9.00% (the “Higher Rate”) The initial interest rate in effect as of March 1, 2011 shall be the Lower Rate.

More Definitions of Lower Rate

Lower Rate. – means the lower rate of interest charged or chargeable by the Bank under this Mortgage or an Agreement and in the absence of such rate, the Lower Rate shall be as reasonably determined by the Bank from time to time having regard to the Bank’s Legitimate Interests and in any event shall be less than the Higher Rate.

Lower Rate means 8% per annum; 3.4.3 "Interest payment date" means the date that the installments referred to in clause 2.1 are due and payable.

Lower Rate means the rate per annum set out in Item 5 of Schedule 1 (Key Details).

Lower Rate shall have the meaning given in Section 9.3(a)(i).

Lower Rate for each Interest Period means the aggregate of the applicable BBSY Rate and the Margin.