Definition of Pre-Completion Interest Rate


Pre-Completion Interest Rate means 3.7875% being 3 month US LIBOR plus 1% per annum as at 1 July 2008.
Sample 1

Examples of Pre-Completion Interest Rate in a sentence

If a party fails to pay any amount payable by it under or in accordance with this Agreement (including the Cash Purchase Price or the Note), the party must, if demand is made, pay simple interest on that amount from the due date for payment until that amount is paid in full at the rate per annum which is the sum of the Pre-Completion Interest Rate (as defined in clause 5(c)(ii)), plus an additional margin of 1%, calculated daily.