Non-default Rate definition

Non-default Rate means the rate certified by the Non-defaulting Party to be a rate offered to the Non-defaulting Party by a major bank in a relevant interbank market for overnight deposits in the applicable currency, such bank to be selected in good faith by the Non-defaulting Party for the purpose of obtaining a representative rate that will reasonably reflect conditions prevailing at the time in that relevant market.
Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount. "Non-defaulting Party" has the meaning specified in Section 6(a).

Examples of Non-default Rate in a sentence

  • Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the Default Rate, Non-default Rate, or Termination Rate exceed the maximum non-usurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged, or received on the subject indebtedness under the law applicable to such party.

  • Notwithstanding any provision to the contrary contained in this Agreement, the Default Rate, Non-default Rate, Termination Rate and any other rate of interest payable under this Agreement shall not exceed the maximum interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged, or received under applicable law.

  • Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the Default Rate, Non-default Rate, or Termination Rate exceed the Highest Lawful Rate.

  • The last day of the Early Termination Period shall be the Early Termination Date for purposes of Section 6; provided, however, that interest shall accrue on the Transactions terminated during the Early Termination Period prior to the Early Termination Date at the Non-default Rate.

  • Any payments deferred pursuant to this provision shall be made on the deferred payment date together with interest accrued on each deferred amount from and including its originally scheduled due date to but excluding the deferred due date (or, if an Early Termination Date is designated, to but excluding the day it is designated) at the Non-default Rate.


More Definitions of Non-default Rate

Non-default Rate means, on any date, the average bid rate for the purchase of bank accepted bills of exchange having a tenor of 90 days as displayed at or about 10.45am on that date on page BKBM (or its successor page) of the Reuters Monitor Screen.
Non-default Rate. LIBOR; “Parties:” the Buyer and the Seller;
Non-default Rate means the rate of interest specified in Section 2(a) or Section 2(b), as applicable.
Non-default Rate means a per annum rate of interest equal to 3.00 percentage points above the Reference Rate; provided, however that, commencing on October 1, 2001 and as of the first day of each fiscal quarter thereafter, such interest rate shall be automatically increased by an additional 0.25 percentage points.
Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.Cap Transaction. A transaction in which one party pays a single or periodic fixed amount and the other party pays periodic amounts of the same currency based on the excess, if any, of a specified floating rate (in the case of an interest rate cap) or commodity price (in the case of a commodity cap) in each case that is reset periodically over a specified per annum rate (in the case of an interest rate cap) or commodity price (in the case of a commodity cap).
Non-default Rate means a rate per annum equal to the cost (without
Non-default Rate means for any date, the per annum rate of interest equal to the rate opposite the captionFederal Funds (Effective)” for such day as published for such day in Federal Reserve Publication H.15(519) or any successor publication as published by the Board of Governors of the Federal Reserve System. The Federal Reserve Board publication H.15 can be accessed at the following website: http:/xxx.xxxxxxxxxxxxxx.xxx/xxxxxxxx/x00/.