Annual Percentage Rates. The APR for purchases is based on a monthly “Prime Rate” plus a margin. The Standard APR is determined by adding 23.74% to the Prime Rate. The Penalty APR is determined by adding 26.74% to the Prime Rate. The corresponding daily periodic rates are 1/365th (1/366th for a leap year) of the then current APR. The applicable APRs at the time of account opening are displayed in the Current Rate Schedule immediately preceding this Agreement. Subsequent applicable APRs will appear in the monthly billing statement. The APRS may change. Please see paragraph 10 for details relating to how these rates may change, including if you default under this Agreement.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement
Annual Percentage Rates. The APR for purchases is based on a monthly “Prime Rate” plus a margin. The Standard APR is determined by adding 23.74% to the Prime Rate. The Penalty APR is determined by adding 26.74% to the Prime Rate. The corresponding daily periodic rates are 1/365th (1/366th for a leap year) of the then current APR. The applicable APRs at the time of account opening are displayed in the Current Rate Schedule immediately preceding this Agreement. Subsequent applicable APRs will appear in the monthly billing statement. The APRS may change. Please see paragraph 10 for details relating to how these rates may change, including if you default under this Agreement. 12.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement
