Interest Rate Determination Methods Sample Clauses
The Interest Rate Determination Methods clause defines how the applicable interest rate for a financial agreement will be calculated and adjusted over time. It typically outlines the reference rate to be used (such as LIBOR, SOFR, or a central bank rate), any applicable margins or spreads, and the frequency at which the rate is reviewed or reset. This clause ensures both parties have a clear and consistent understanding of how interest charges are computed, reducing the risk of disputes and providing transparency in financial obligations.
Interest Rate Determination Methods. In accordance with the notification requirements described herein, the Company shall determine the applicable interest rate determination method (each a “Determination Method”) on the Bonds. The interest rate on the Bonds shall be determined by one of the following Determination Methods.
Interest Rate Determination Methods. While there exists an Event of Default under the Indenture, the interest rate on the Bonds will be the rate on the Bonds on the day before the Event of Default occurred, except that if interest on any Bond was then payable at a Commercial Paper Rate, the interest rate for all Bonds then bearing interest at a Commercial Paper Rate will be the highest Commercial Paper Rate then in effect for any Bond.
Interest Rate Determination Methods. While there exists an Event of Default, the interest rate on each Bond shall be the interest rate on such Bond on the day before the Event of Default occurred.
Interest Rate Determination Methods. While there exists an Event of Default, the interest rate on each Series 1997 Bond shall be the interest rate on such Series 1997 Bond on the day before the Event of Default occurred.