Base Rate of Interest definition

Base Rate of Interest means the base rate of interest charged to its best commercial customers from time to time by the Bank of Boston or its successor.

Base Rate of Interest means the base rate of interest declared from time to time by the Bank of Boston.

Base Rate of Interest means the rate of interest set and publicly announced from time to time by the Lender as its "prime" or "base" rate (or equivalent successor rate), whether or not the Lender makes loans to its customers at rates at, above or below said Base Rate of Interest.

Examples of Base Rate of Interest in a sentence

• Any payments by Monsanto that are not paid on or before the date such payments are due under this Agreement shall bear interest, to the extent permitted by law, at two percentage points above the Base Rate of Interest calculated based on the number of days that payment is delinquent.

• The Base Rate of Interest of SOUTHTRUST BANK shall be that rate of interest (but not necessarily the best or lowest rate charged borrowing customers of SOUTHTRUST BANK) described by it as its Base Rate of Interest, whether or not such rate shall be otherwise published, as such rate shall vary from time to time, and each adjustment shall be effective on the day the change occurs.

• In the event that ArQule makes a late delivery of Mapping Arrays to Monsanto pursuant to Section 3.2.1 or delivers a Compass Array Library after the [*] period described in Section 3.2.1, Monsanto may deduct from the next quarterly installment of the delivery fee set forth in Section 3.2.5 an amount determined by multiplying the amount of such quarterly installment by an annualized rate equal to [*] above the Base Rate of Interest calculated based on the number of days that delivery was late.

• Any payments by any Party that are not paid on or before the date such payments are due under this Agreement shall bear interest, to the extent permitted by law, at [ ] above the Base Rate of Interest calculated based on the number of days that payment is delinquent.

• Except as provided in SECTION 2.4(B), all Obligations whether or not charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to the Base Rate of Interest, plus the Base Rate Margin.

More Definitions of Base Rate of Interest

Base Rate of Interest means, in respect of a particular day, the average prime rate that was in effect on,

Base Rate of Interest means the base rate of interest set and announced from time to time by Norwest as the basis for determining the rate of interest on commercial borrowing, whether or not the Lender or Norwest makes loans at, above or below said base rate of interest. The rate of interest due hereunder shall initially be determined as of the date hereof and shall thereafter be adjusted on each day that the Base Rate of Interest changes (each such day hereinafter being referred to as an "Adjustment Date"). All such adjustments to said rate shall be made and become effective as of the Adjustment Date and said rate as adjusted shall remain in effect until and including the day immediately preceding the next Adjustment Date. Interest hereunder shall be computed on the basis of a year of three hundred sixty (360) days but charged for actual days principal is unpaid. Upon the occurrence of an Event of Default, and at any time thereafter, the Lender shall have the right to set off any and all amounts due hereunder by the Borrower to the Lender against any indebtedness or obligation of the Lender to the Borrower.

Base Rate of Interest means the rate equal to the aggregate of: (a) the EURIBOR plus(b) a margin of 1.95 per cent. per annum.

Base Rate of Interest means the Initial Rate of Interest or the Subsequent Rate of Interest. “Calculation Amount” means £1,000 in principal amount of the Notes.

Base Rate of Interest means the rate of interest publicly announced by the Reference Bank in New York, New York from time to time as its reference rate, base rate or prime rate. The reference rate, base rate or prime rate is determined from time to time by the Reference Bank as a means of pricing some loans to its borrowers and neither is tied to any external rate of interest or index nor necessarily reflects the lowest rate of interest actually charged by the Reference Bank to any particular class or category of customers. Each change in the Base Rate shall be effective from and including the date such change is publicly announced as being effective.

Base Rate of Interest. 1.13. "Chemical Theme" 1.14. "Confidential Information" 1.15. "Contract Year" 1.16. "Derivative Compound" 1.17. "Directed Array (tm)" 1.18. "Directed Array (tm) Program" 1.19. "Disclosing Party" 1.20. "Effective Date" 1.21. "Extraordinary Expenses" 1.22. "FDA" 1.23. "Joint Patent Rights" 1.24. "Licensed Compound" 1.25. "Licensed Compound Set" 1.26. "Mapping Array (tm)" 1.27. "Mapping Array (tm) Program" 1.28. "Net Sales" 1.29. "Net Sales Price" 1.30. "Party" 1.31. "Patent Rights" 1.32. "Phase I Clinical Trials" 1.33. "Phase II Clinical Trials" 1.34. "Phase III Clinical Trials" 1.35. "Preclinical Compound" 1.36. "Preclinical Development" 1.37. "Receiving Party" 1.38. "Research Period" 1.39. "Research Program" 1.40. "Research Plan" 1.41. "Royalty-Bearing Product" 1.42. "Royalty Period" EXHIBIT 10.16

Base Rate of Interest is defined as that rate of interest established from time to time and announced by Lendxx xx the "base rate," which is used as an index for establishing interest rates on loans. The interest rate shall be adjusted daily to reflect any changes in such "base rate of interest".