Adjustable Interest Rate. Interest shall accrue at the Adjustable Rate.
Adjustable Interest Rate. This section explains how we calculate rates and interest charges applicable to your account. This VISA loan has a variable rate, which means that your APR may increase or decrease each billing cycle while you maintain your account with us.
(A) The Index: The APR is subject to change each billing cycle based on an increase or decrease in the Prime Rate Index (hereafter, Prime). Prime is the highest Prime Rate Index published in The Wall Street Journal "Money Rates" section on the 13th day of each month. If the Wall Street Journal is not published on that day, then we will use the immediately preceding edition. If Prime is no longer available, we will choose a new index that is based upon comparable information. We will give you notice of this choice.
(B) Calculation of Changes: We calculate your APR for Purchases, Balance Transfers, and Cash Advances by adding 6.74%, an amount which we call the Margin, to the Prime. Even if the Margin and Prime could be higher, the rate on any transaction type will not exceed 24.99% APR. Purchases, Balance Transfers, and Cash Advances made on your Account will be subject to an INTEREST CHARGE at a Daily Periodic Rate of 0.0397%, which corresponds to an ANNUAL PERCENTAGE RATE (APR) of 14.49%.
Adjustable Interest Rate. (a) IHFL-FRR: % per annum (as on the date of execution of this Agreement)
(b) Adjustable Rate of Interest: IHFL-FRR +/- ........................%p.a. =. %p.a.
Adjustable Interest Rate. (a) IMLR: % per annum (as on the date of execution of this Agreement)
(b) Adjustable Rate of Interest: IMLR +/- ........................%p.a. = %p.a.
Adjustable Interest Rate. (indexed) — On the first day of , , the interest rate will be adjusted, and on dates occurring at successive intervals of years each thereafter during the remaining term of the Loan. The interest rate will be based upon the index for adjustments. The index for adjustments in the interest rate is the estimated weekly average available for the one-year bonds funding cost index as reported by the Federal Farm Credit Banks Funding Corporation at its Web site, found in the Farm Credit System, Funding Cost Index, Archive section at xxxx://xxx.XXXXXXXX0X-XXXX.xxx, for that week which contains the date that is 45 days before the date the interest rate is to be adjusted. If the date that is 45 days before the date the interest rate is to be adjusted is not a business day, the Lender shall use that estimated weekly average for the one-year bonds funding cost index for that week which immediately precedes the 45-day date. If this index is no longer available, the Lender will select a new index which is based on comparable information. The Lender will give the Borrower notice of this choice. The new interest rate will be calculated by adding percentage points to the current index and rounding the total to the nearest one-eighth of one percent. On any single adjustment date, the new interest rate may not increase or decrease the rate that it replaces by more than percentage points. In addition, at no time during the term of the Note may the interest rate be more than percentage points higher or lower than the initial rate if the Note is not in default, or more then percentage points plus the default rate higher than the initial rate during periods of default
Adjustable Interest Rate. First and second year interest rate at 7% with 25 year amortization monthly payment at $5935.95 Third and forth year interest rate at 8% with 25 year amortization monthly payment at $6453.71 Fifth year interest rate at 9% with 25 year amortization monthly payment at $6958.35
Adjustable Interest Rate. For purposes of Sections 1.1, 1.6, 1.12 and 13.9, the interest rate shall be adjusted as of the first day of each calendar quarter and shall be equal to the per annum “prime rate” as published in the Wall Street Journal on the last business day of the immediately preceding calendar quarter plus 2%; provided, however, that in no event shall such interest rate exceed 8.0% per annum.
Adjustable Interest Rate. The Interest Rate will be based on the Index and will be adjusted periodically as the Index changes. The Interest Rate is a variable or floating rate and shall be the sum of the Wall Street Journal Prime Rate (the “Index”) and One-Quarter of One Percentage Point (0.25%) (the “Margin”), (The Index and Margin are collectively the Rate). The interest rate determined shall be adjusted from time to time on the effective date of any changes to the Index as stated by the Wall Street Journal. If at any time the index is no longer available, Bank, with notice to Borrower, will choose a new Index that is based on comparable information.
Adjustable Interest Rate. The interest rate shall be adjusted annually on January 1 of each year (the "Change Date") so as to equal the average interest rate designated as the "Introduction Rates" on adjustable rate loans as publicly offered by the banks and savings and loans in California as published by the Los Angeles Times in its Sunday edition. The rate shall be set using the rates published in the Los Angeles Times on the Sunday immediately preceding the Change Date. In the event that the "Introduction Rates" list is not published in the Los Angeles Times for any reason, then, in such event, the Payee shall establish the interest rate based on a survey by it of the introductory interest rates on adjustable loans offered by no fewer than five banking institutions located in Southern California that the Payee, in its sole discretion, deems representative of banking institutions in the Ventura and Los Angeles County areas. Payee shall give Staff Member notice if the interest rate shall be determined using this alternative method. Notwithstanding the foregoing, the interest rate shall never be increased or decreased on any single Change Date by more than one percentage point from the interest rate for the preceding 12 months. At no time during the term of this Note shall the annual interest rate exceed 7.4% per annum. Payee shall deliver or mail to Staff Member a notice of any changes in the adjustable interest rate on this Note and the amount of the Staff Member's semi-monthly payroll deductions before the effective date of any change. The notice shall include information required by law to be given to Staff Member and also the title and telephone number of a person who shall answer any questions Staff Member may have regarding the notice.
