Variable Rate Interest Rate definition

Variable Rate Interest Rate means an adjustable interest rate, equal to the Margin plus the Index, in effect on a Variable Rate Loan during its term and on a Fixed to Float Loan during the Extension Period for such Fixed to Float Loan, if applicable, that periodically adjusts as set forth in the Note for such Loan.
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Examples of Variable Rate Interest Rate in a sentence

  • The Variable Rate Interest Rate will adjust each interest adjustment period (each one calendar month period) so as to equal the Index Rate plus the Margin.

  • If an Extension Period applies to a Fixed to Float Loan, the interest rate shall convert to a Variable Rate Interest Rate on the first day of the Extension Period.

  • During the Extension Period, the Variable Rate Interest Rate shall adjust each calendar month so as to equal the Index Rate plus a Margin as set forth in the Commitment.

  • CERTIFICATES PLEDGED AS COLLATERAL FOR MORTGAGE‌ (2 Year only) CERTIFICATES OF DEPOSIT Date Opened: Account #: CD Term: 2 YEAR Renewal Term: 2 YEAR if Fixed Rate/1 YEAR if Variable Rate Interest Rate: % Annual Percentage Yield: % Variable* or Fixed Rate of Interest: *For variable rate accounts, we may change the interest rate on your account every February and August.