Common use of Standard Rates Clause in Contracts

Standard Rates. The Periodic Rate and corresponding Annual Percentage Rate(s) used to compute the Interest Charge are variable and based on the value of an index. The index in effect for each billing period shall be the highest “Prime Rate” of interest appearing in The Wall Street Journal published on the last business day of the month preceding the first day of such billing period or, if The Wall Street Journal is not published on such date, the next day on with such Prime Rate is published. To determine the Annual Percentage Rate, we add a margin to the index. The amount of the margin depends on the type of account, your credit profile, and other factors we deem appropriate. The margin applicable to your account is provided to you in your Account Disclosure. The Annual Percentage Rate is divided by 365 to obtain the Periodic Rate. The rate can change monthly effective the first day of the billing cycle. Any increase or decrease in the Annual Percentage Rate will affect the number of monthly payments you may have to make. If The Wall Street Journal ceases publication or ceases to publish the Prime Rate, we reserve the right to use the Prime Rate published in any other newspaper of general circulation, or we may substitute a similar reference at our sole discretion.

Standard Rates. The Periodic Rate and corresponding Annual Percentage Rate(s) used to compute the Interest Charge are variable and based on the value of an index. The index in effect for each billing period shall be the highest “Prime Rate” of interest appearing in The Wall Street Journal published on the last business day of the month preceding the first day of such billing period or, if The Wall Street Journal is not published on such date, the next day on with such Prime Rate is published. To determine the Annual Percentage Rate, we add a margin to the index. The amount of the margin depends on the type of account, your credit profile, and other factors we deem appropriate. The margin applicable to your account is provided to you in your Account Disclosure. The Annual Percentage Rate is divided by 365 to obtain the Periodic Rate. The rate can change monthly effective the first day of the billing cycle. Any increase or decrease in the Annual Percentage Rate will affect the number of monthly payments you may have to make. If The the Wall Street Journal ceases publication or ceases to publish the Prime Rate, we reserve the right to use the Prime Rate published in any other newspaper of general circulation, or we may substitute a similar reference at our sole discretion.