Non-default Rate definition

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-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.

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 Confirmation Letter, 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, in no event shall the Default Rate, Non-default Rate, or Termination Rate exceed the Highest Lawful Rate.

• The definition of "Applicable Rate" set forth in Section 14 is hereby amended by adding to the end of Section (b) of the definition after the word "Rate" the following proviso: "provided, however, that if the payee is a Defaulting Party for purposes of Section 6(e), then the rate shall be the Non-default Rate.

More Definitions of Non-default Rate

Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual costs) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

Non-default Rate means the rate certified by the Non-defaulting Party to be 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 the interest rate per annum as specified in the relevant Confirmation and if not specified in the relevant Confirmation, the interest rate pursuant to Thai laws.

Non-default Rate. LIBOR; “Parties:” the Buyer and the Seller;

Non-default Rate means a rate per annum equal to the cost (without

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 means, on any date, the bid rate administered by the New Zealand Financial Benchmark Facility Limited (or any other person who takes over administration of that rate) for bank bills having a term of, or about, of 90 days for that date."