variable-rate contract definition

variable-rate contract. ’ means a loan contract, installment purchase contract or other financing agreement in which the interest rate is adjusted at intervals during the life of the contract or agreement in accordance with its terms; ‘‘weighted average principal maturity’’ means, with respect to fixed-rate con- tracts and variable-rate contracts, the number of years, or portion thereof, that is equal to the number obtained by
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variable-rate contract. ’ means a loan contract, installment purchase contract or other financing agreement in which the in- terest rate is adjusted at intervals during the life of the contract or agreement in accordance with its terms;
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variable-rate contract means a loan contract, instalment purchase contract or other financing agreement in which the interest rate is adjusted at intervals during the life of the contract or agreement in accordance with its terms; (contrat à taux variable)
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Related to variable-rate contract

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds.

  • Variable Rate Indebtedness means any portion of indebtedness or other payment obligations, the interest rate on which is not established at the time of incurrence and has not at some subsequent date been established at a single numerical rate for the entire term thereof.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.