Definition of Pre-Conversion Rate


Pre-Conversion Rate means a floating rate of Prime plus Two Percent (2%) as in effect on the first business day of the month, with a minimum rate of 5.5% and a maximum rate of 9%.
Sample 1

Examples of Pre-Conversion Rate in a sentence

Prior to the Conversion Date, Borrower agrees to pay interest monthly on the outstanding principal balance of the Aggregate Loan Balance at the Pre-Conversion Rate.