Prevailing Fixed Interest Rate definition

Prevailing Fixed Interest Rate means in relation to each Interest Period falling in any Reset Period commencing on or after the First Reset Date, a percentage rate per annum which is the aggregate of (i) the relevant Reference Rate for such Reset Period, (ii) the Re-Offer Spread and (iii) four (4) per cent. per annum as determined by the Calculation Agent.
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Examples of Prevailing Fixed Interest Rate in a sentence

  • The interest payable shall be determined by the Calculation Agent by applying the Prevailing Fixed Interest Rate to the principal amount of such Capital Note, multiplying the product by the Fixed Day Count Fraction and rounding the resulting figure to the nearest cent (half a cent if being rounded upwards).

  • From and including the First Reset Date, the Capital Notes bear interest on their outstanding principal amount at the Prevailing Fixed Interest Rate, subject to Clauses 6.3 (Minority Dividend) and 7.7 (Change of Control).

  • Prevailing Fixed Interest Rate – Shall be the highest rate offered by Nantucket County banks for a non-conforming 30-year fixed rate mortgage.

  • Maximum Sale Price - The purchase price of the NHNC Secondary Lot to be calculated annually, on the first business day of each calendar year, by assuming a ten percent (10%) down payment and an annual mortgage debt service at the Prevailing Fixed Interest Rate equal to thirty percent (30%) of the income of a hypothetical buyer who earns one hundred twenty five percent (125%) of the Nantucket County Median Family Income.

  • The interest payable shall be determined by the Calculation Agent by applying the Prevailing Fixed Interest Rate to the principal amount of such Capital Notes, multiplying the product by the Fixed Day Count Fraction and rounding the resulting figure to the nearest cent (half a cent being rounded upwards).

Related to Prevailing Fixed Interest Rate

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Prevailing Interest Rate means the rate of interest payable on the Securities applicable from time to time pursuant to Condition 4 (Interest Payments);

  • Capped Interest Rate is defined in the Note, if applicable.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Agreed Interest Rate means that interest rate determined as of the time it is to be applied that is equal to the lesser of (i) 5% in excess of the discount rate established by the Federal Reserve Bank of San Francisco as it may be adjusted from time to time, or (ii) the maximum interest rate permitted by Law.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Stated Interest Rate means with respect to (i) the Class AA Certificates, 3.15% per annum, (ii) the Class A Certificates, 3.50% per annum and (iii) the Class B Certificates, 3.85% per annum.

  • Prevailing Rate means, in respect of any currencies on any day, the spot rate of exchange between the relevant currencies prevailing as at or about 12 noon (London time) on that date as appearing on or derived from the Reference Page or, if such a rate cannot be determined at such time, the rate prevailing as at or about 12 noon (London time) on the immediately preceding day on which such rate can be so determined or, if such rate cannot be so determined by reference to the Reference Page, the rate determined in such other manner as an Independent Financial Adviser shall in good faith prescribe;

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.

  • Assumed Interest Rate means the annual yield payable on the last day of the applicable Calculation Period on ten (10) year United States Treasury obligations in amounts approximating the outstanding principal balance of the Loan on the last day of the Calculation Period plus two hundred fifty (250) basis points per annum; provided, however, that the Assumed Interest Rate shall be not less than six percent (6.0%) per annum.

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • Additional Interest Rate With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Initial Interest Rate means, as of any date of determination, (a) with respect to each A Note, the Initial Note A Interest Rate and (b) with respect to each B Note, the Initial Note B Interest Rate.

  • Selected Interest Rates as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

  • Late Payment Rate As defined in the Insurance Agreement.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Effective Interest Rate means the rate of interest per annum on the Loans in effect from time to time pursuant to the provisions of Section 3.1(a), (b) and (c).

  • Loan Interest Rate means, as to any Loan, the annual rate of interest specified in the Loan.