Interest Rate Spread Sample Clauses

An Interest Rate Spread clause defines the difference between two interest rates, typically specifying how much higher or lower one rate is compared to a benchmark or reference rate. In practice, this clause is used in loan agreements or financial contracts to determine the total interest rate a borrower will pay, such as setting the loan rate at a fixed percentage above the LIBOR or SOFR rate. Its core function is to provide transparency and predictability in interest calculations, ensuring both parties understand how the applicable rate is determined and protecting against unexpected fluctuations in market rates.
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Interest Rate Spread. The Undersigned shall pay a basis -------------------- point spread under this Note on the LIBOR Rate option based on the Undersigned's financial performance as measured by the Cash Flow Ratio (as defined in the Credit Agreement) and effective on the first day following receipt of the Undersigned's quarterly financial statements and continuing until receipt of the Undersigned's quarterly financial statements for the following fiscal quarter: LIBOR Rate Plus Cash Flow Ratio Basis Point Spread --------------- ------------------------------- Greater than 2.00 to 1.00 LIBOR + 100 b.p. Less than or equal to 2.00 to 1.00 but greater than or equal to LIBOR + 125 b.p. 1.50 to 1.00 (c) The definition of Maturity Date set forth in paragraph 12 of the Supplement shall be amended by replacing the date May 30, 1998 with May 30, 1999. (d) The Note shall be amended to reflect that references in the Note to the "Credit Agreement" shall be references to the Revolving Line of Credit Agreement as amended by the Credit Amendment and as may be still further amended, modified or supplemented from time to time.
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Interest Rate Spread. If at any time the differential between Borrower's gross yield (including the impact of any discount retained by Borrower) on Borrower's portfolio of Contracts and the
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Interest Rate Spread. The Undersigned shall pay a basis point spread -------------------- under this Note on its LIBOR Rate Option based on the Undersigned's financial performance based on its Cash Flow Ratio (as defined in the Credit Agreement) and effective on the first day following receipt of the Undersigned's quarterly financial statements and continuing until receipt of the Undersigned's quarterly financial statements for the following fiscal quarter: Cash Flow Ratio LIBOR Rate Plus --------------- Basis Point Spread ------------------------------ Less than 2.50 to 1.00 LIBOR + 150 b.p. Greater than or equal to 2.50 to 1.00, But less than 3.50 to 1.00 LIBOR + 125 b.p. Greater than or equal to 3.50 to 1.00 LIBOR + 100 b.p.
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Interest Rate Spread. From and after the Modification Effective Date, the Spread is hereby increased from 2.50% to 3.50%. Accordingly, from and after the Modification Effective Date, the Interest Rate for any Interest Accrual Period shall be the sum of 3.50% plus the greater of LIBOR for such Interest Accrual Period and 4.95% (or, when applicable pursuant to the Note or any other Loan Document, the Default Rate).
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Interest Rate Spread. The Undersigned's shall pay a basis point -------------------- spread under this Note on the LIBOR Rate option based on the Undersigned's financial performance based on its Cash Flow
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Related to Interest Rate Spread

  • Interest Rates All outstanding Term Loans to the Borrower shall bear interest on the unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Base Rate or Adjusted Term SOFR plus the Applicable Margin, but not to exceed the Maximum Rate. If at any time Term Loans are outstanding with respect to which the Borrower has not delivered to the Agent a notice specifying the basis for determining the interest rate applicable thereto in accordance herewith, those Term Loans shall be treated as Base Rate Loans until notice to the contrary has been given to the Agent in accordance with this Agreement and such notice has become effective. Except as otherwise provided herein, the Term Loans shall bear interest as follows: (i) For all Base Rate Loans, at a fluctuating per annum rate equal to the Base Rate plus the Applicable Margin; and (ii) For all SOFR Rate Loans, at a fluctuating per annum rate equal to Adjusted Term SOFR plus the Applicable Margin. Each change in the Base Rate (or any component thereof) shall be reflected in the interest rate applicable to Base Rate Loans as of the effective date of such change. All computations of interest for Base Rate Loans when the Base Rate is determined by the “prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). On the last Business Day of each calendar quarter hereafter and on the Termination Date, the Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest accrued from the last Business Day of the preceding calendar quarter to the last Business Day of such calendar quarter (or accrued to the Termination Date in the case of a payment on the Termination Date) on all Base Rate Loans in arrears. The Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest on all SOFR Rate Loans in arrears on each SOFR Interest Payment Date.

  • Maximum Interest Rate In no event shall any interest rate provided for hereunder exceed the maximum rate legally chargeable under applicable law with respect to loans of the Type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 3.3, have been paid or accrued if the interest rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the applicable Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to the Borrower such excess.

  • Fixed Interest Rate The loan interest rate hereunder is determined by the latest þ1-year ☐5-year and above ☐ other LPR published on the natural day before þ the Effective Date of this Contract ☐the loan issuance date plus (plus/less) 105.000000 basis points (LPR, the loan prime rate published by the National Interbank Funding Center, 1 basis point =0.01%, the same below), subject to the loan receipts or the electronic data and vouchers generated by E-banking such as online banking. During the term of loan, the loan interest rate shall not be adjusted.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.