Stated Rate has the meaning set forth in Section 2.7.
Stated Rate is defined in Section 2.21.
Stated Rate means a rate per annum equal to the lesser of (a) the “prime rate” (as reported in The Wall Street Journal) plus two percent (2%) and (b) the maximum rate allowed by Applicable Law.
Examples of Stated Rate in a sentence
The Bonds shall be dated as of the date of initial delivery thereof; shall mature on August 1, 2030, shall be in registered form; and shall bear interest in the case of the 2020A Bond from the date of issuance until payment of the principal amount thereof, at the applicable Stated Rate, and in the case of the 2020B Bond shall bear interest from the date of each draw thereon in accordance with the terms hereof until payment of the principal amount thereof, at the applicable Stated Rate.
Thereafter, the interest rate payable shall be the Stated Rate unless and until the Stated Rate again would exceed the Maximum Lawful Rate, in which event this provision shall again apply.
More Definitions of Stated Rate
Stated Rate means Fellows’ published rates of commission for the time being and value added tax thereon (also available on request);
Stated Rate has the meaning set forth in Section 3.5.
Stated Rate has the meaning given it in Section 2.6(g).
Stated Rate means Fellows’ published rates of commission for the time being and value added taxthereon (also available on request);
Stated Rate has the meaning specified in Section 10.04(b)(ii).
Stated Rate means, as specified in the related Series Supplement, the rate of interest payable on a specific Note of the related Series or Class.
Stated Rate means, for any day, a rate per annum equal to (i) the CB Floating Rate minus the Applicable Margin for all CBFR Borrowings, if any, outstanding on such date, and (ii) the applicable Adjusted LIBOR Rate plus the Applicable Margin for all LIBOR Borrowings, if any, outstanding on such date; provided, that if on any day the Stated Rate for all or any portion of the principal balance of this note for that day would exceed the Ceiling Rate for that day, the Stated Rate for such applicable portion of the principal balance of this note shall be fixed at the Ceiling Rate on that day and on each day thereafter until the total amount of interest accrued at the Stated Rate (as so fixed) on such applicable portion of the unpaid principal balance of this note equals the total amount of interest which would have accrued if there had been no Ceiling Rate. If this note matures (or is prepaid) before such equality is achieved, then, in addition to the unpaid principal and accrued interest then owing pursuant to the other provisions of this note, Maker promises to pay on demand to the order of the holder of this note interest in an amount equal to the excess (if any) of (a) the lesser of (i) the total interest which would have accrued on this note if the Stated Rate had been defined as equal to the Ceiling Rate from time to time in effect and (ii) the total interest which would have accrued on this note if the Stated Rate were not so prohibited from exceeding the Ceiling Rate, over (b) the total interest actually accrued hereon to such maturity (or prepayment) date. Without notice to Maker or any other person or entity, the Stated Rate shall automatically fluctuate upward and downward in accordance with the provisions of this Subparagraph and the Credit Agreement.