Prevailing Interest Rate means the rate of interest payable on the Securities applicable from time to time pursuant to Condition 4 (Interest Payments);
Prevailing Interest Rate as used herein shall mean the yield to maturity on a United States Treasury Bond or Treasury Note selected by Holder having a maturity date as near as possible to the original maturity date of this Note and an "ask" price, as close as possible to par (as published two weeks prior to the specified date of prepayment in THE WALL STREET JOURNAL or similar publication or available from the Federal Reserve Bank of New York), less the Basis Point Adjustment as computed in accordance with EXHIBIT A attached hereto to convert the monthly payments to a semi-annual equivalent. No Prepayment Premium shall be due on the principal balance prepaid within the thirty (30) day period prior to the Maturity Date of this Note. Written notice of Maker's election to make a prepayment in full of this Note shall be given in the manner provided for notices under the Mortgage. Partial prepayment of the outstanding principal amount of this Note shall not be permitted except in accordance with the terms of the Mortgage. In the event of such a permitted partial prepayment, the Prepayment Premium calculated in this Paragraph 9 shall be prorated based on the amount of the partial prepayment relative to the then current outstanding principal balance of this Note. Maker acknowledges that Holder:
Prevailing Interest Rate as of any date means the highest rate of interest then payable by the Debtors under any Loan.
Examples of Prevailing Interest Rate in a sentence
The total sum will then bear interest at the relevant Prevailing Interest Rate.
Such payment must be made together with interest from the date the costs and expenses are incurred to the date of full payment at the Prevailing Interest Rate and if applicable, the Default Rate (both before and after judgment).
More Definitions of Prevailing Interest Rate
Prevailing Interest Rate means the rate of interest payable on the 8 Year Non-Call Securities applicable from time to time pursuant to Condition 4;
Prevailing Interest Rate means a current interest rate benchmark selected by the treasurer of state that banks are willing to pay to hold deposits for a specific time period, as measured by a third-party organization.
Prevailing Interest Rate. Prevailing Interest Rate. During the term hereof, Loans outstanding hereunder shall bear interest at a per annum rate equal to the Reference Rate plus zero percent (0.0%) (such advances shall hereinafter be referred to as "Reference Rate Advances"); however, for any monthly period, to the extent average daily Available Deposits are maintained with Bank by the Borrower (or by an Affiliate of the Borrower as designated by Bank) during such monthly period, such loans in an amount equal to such average daily Available Deposits shall bear interest at a rate of interest equal to one and one quarter percent (1.25%) per annum (such advances shall hereinafter be referred to as "Deposit Based Advances"). In addition to Reference Rate Advances and Deposit Based Advances, the Bank hereby agrees to make Loans to the Borrower, at the Borrower's election, at a fixed rate (the "Fixed Rate") for such period of time that the Bank may quote and offer, provided that any such period of time shall not exceed thirty (30) days (the "Interest Period"), and provided that any such period of time does not extend beyond the Maturity date for advances in the minimum amount of $250,000.00, (such advances shall hereinafter be referred to as "Fixed Rate Advances"). For Fixed Rate Advances, the interest rate for the Fixed Rate shall be a percentage approximately equivalent to one and one quarter percent (1.25%) per annum in excess of the rate which the Bank determines in its sole and absolute discretion to be equal to the Bank's cost of acquiring funds (adjusted for any and all assessments, surcharges and reserve requirements pertaining to the borrowing or purchase by the Bank of such funds) in an amount approximately equivalent to the amount of the relevant Fixed Rate Advance and for a period of time approximately equal to the relevant Interest Period; The Bank shall provide the Borrower with a statement of the Borrower's Fixed Rate Advances, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies the Bank to the contrary within 10 days after the Borrower's receipt of any such statement which it deems to be incorrect. Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 12:00 p.m. (California Time) on a business day, the Borrower may elect:
Prevailing Interest Rate means a current interest 31
Prevailing Interest Rate. Base Rate plus the Spread or Standardised Base Rate plus the Spread, whichever applicable to the Property Financing/Facility or subject to Section 5.3(c), such other rate of interest that the Bank may prescribe at any time.
Prevailing Interest Rate means the average interest rate of two mortgage lenders in the County, acceptable to the director, for a thirty year fixed loan with no discount points.
Prevailing Interest Rate means the London Interbank Offered Rate quoted for six-month periods as reported in The Wall Street Journal on the Closing Date plus 100 basis points; provided that the Prevailing Interest Rate shall increase by an additional 100 basis points for each six-month period during which any payment under Section 2.02(g) shall not be timely made when due and the highest such rate shall be applied to the entire period for which such payment shall be due; provided, further, in no event shall the Prevailing Interest Rate (as herein defined) exceed 10%.