Usurious interest definition

Usurious interest means interest that exceeds the applicable maximum amount allowed by law.
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Usurious interest means contracting for, charging or receiving interest, as defined under the applicable usury laws, in excess of the maximum nonusurious rate provided by law.
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Examples of Usurious interest in a sentence

  • Usurious interest is defined as “interest that exceeds the applicable maximum allowed by law.” Tex.

  • Usurious interest is inter-Interest on a traditional IRA is tax deferred.

  • Usurious interest means interest that exceeds the applicable maximum amount allowed by law.

  • See COM(2005) 650 of 15 December 2005.3.2.11 Usurious interest rates.

  • Example.Interest on a Roth IRA generally is not taxable.maturity date is taxable.You deposited $5,000 with a Usurious interest.

  • Usurious interest reduced; null and void; actions to recover usurious amounts.(1) The provisions of any agreement entered into prior to the effective date of this Chapter, which provide for the payment of interest at a rate higher than is allowed under this Chapter, shall be deemed amended to provide for interest at the rate of twenty-four percent per annum.

  • Usurious interest; penalty for taking; limitations The taking, receiving, reserving, or charging a rate of interest greater than is allowed by section 85 of this title, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.

  • Usurious interest rates may still be practiced, but they must then be self-enforcing: debt peons will service their debt as long as the minimum stable consumption that is guaranteed to them by the patron/lender provides them with an expected discounted utility higher than U (πt) + W(πt).

  • Licensees need to complete the review of the basis for external events against modern state-of-the-art practices for evaluating external events magnitudes and relevant design capacity for these events.

  • Human Power Services is focused solely on enhancing the performance of your organization.

Related to Usurious interest

  • Maximum Rate of Interest It is intended that the rate of interest hereon shall never exceed the maximum rate, if any, which may be legally charged on the loan evidenced by this Note ("Maximum Rate"), and if the provisions for interest contained in this Note would result in a rate higher than the Maximum Rate, interest shall nevertheless be limited to the Maximum Rate and any amounts which may be paid toward interest in excess of the Maximum Rate shall be applied to the reduction of principal, or, at the option of HSBC, returned to the Company.

  • Overdue Interest means any interest payable pursuant to Section 2.8(b) of the Credit Agreement.

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.

  • Default Rate of Interest means the rate of interest otherwise payable on the principal of the Securities plus 1% per annum.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

  • Excess Interest With respect to each ARD Mortgage Loan, additional interest accrued on such ARD Mortgage Loan after the Anticipated Repayment Date allocable to the difference between the Revised Rate and the Mortgage Rate, plus any compound interest thereon, to the extent permitted by applicable law and the related Loan Documents. The Excess Interest on any ARD Mortgage Loan shall not be an asset of any Trust REMIC, but rather shall be an asset of the Grantor Trust.

  • Late Payment Interest means and refer to interest on a particular Late Payment at the Default Rate.

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Tier 1 BCN or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Tier 1 BCN and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Interest when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

  • Rate of Interest means the rate of interest payable from time to time in respect of this Note and that is either specified or calculated in accordance with the provisions hereon.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Maximum Rate shall have the meaning assigned to such term in Section 9.09.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid.

  • Simple interest means interest computed on the principal balance outstanding

  • Interest Rate Protection Agreement means any interest rate swap agreement, interest rate cap agreement, interest collar agreement, interest rate hedging agreement or other similar agreement or arrangement.

  • 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.

  • Interest Rate Agreement means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary.

  • Class E Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).