Minimum Interest Rate. Notwithstanding the foregoing, --------------------- in no event shall the per annum rate of interest on any Revolving Credit Loan be less than six percent (6.0%). Interest in all cases shall be calculated on a daily basis (computed on the actual number of days elapsed over a year of 360 days), commencing on the date hereof.
Minimum Interest Rate. The term “
Minimum Interest Rate. If a Tax Deduction is required by law in respect of any interest payable by Borrower and should it be unlawful for Borrower to comply with paragraph (a) of Clause 15.1 (Tax Gross-Up) for any reason, where this would otherwise be required by the terms of paragraph (a) of Clause 15.1 (Tax Gross-Up), then (i) the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 9.1 (Interest Rates) divided by one minus the rate at which the relevant Tax Deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant Tax Deduction is required to be made is for this purpose expressed as a fraction of one); and (ii) Borrower shall (A) pay the relevant interest at the adjusted rate in accordance with paragraph (i) above and (B) make the Tax Deduction on the interest so recalculated, and all references to an interest rate under this Agreement shall be construed accordingly. To the extent that an interest payable by Borrower becomes subject to Swiss Withholding Tax, the Loan Parties shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate Tax authority) to the extent possible and necessary for Borrower to obtain authorization to make interest payments without being subject to Swiss Withholding Tax and/or for Lender to get a partial or full refund of Swiss Withholding Tax.
Minimum Interest Rate. Notwithstanding anything to the contrary contained in Section 4(a) and Section 4(b) above, at no time will the per annum rate of interest payable on the Principal Balance of this Note be less than a per annum rate of interest of four and 25/100ths percent (4.25%).
Minimum Interest Rate. The Minimum Interest Rate applicable to the Fixed Accounts available under the Contract shall be [1.00% - 3.00%] per year.
Minimum Interest Rate. Notwithstanding anything to the contrary in this Agreement, under no circumstances shall the Interest Rate ever be less than 4.5% or more than the Highest Lawful Rate.
Minimum Interest Rate. (i) In no event shall the rate of interest chargeable hereunder in respect of Working Capital Loans be less than eight percent (8.0%) per annum. To the extent that interest accrued hereunder in respect of Working Capital Loans at the rate set forth in paragraph (a) above is less than the foregoing minimum rate, the interest rate chargeable hereunder in respect of Working Capital Loans for the month in question automatically shall be deemed increased to such minimum rate of interest.
(ii) In no event shall the rate of interest chargeable hereunder in respect of Reducing Revolving Loans be less than ten percent (10.0%) per annum. To the extent that interest accrued hereunder in respect of Reducing Revolving Loans at the rate set forth in paragraph (a) above is less than the foregoing minimum rate, the interest rate chargeable hereunder in respect of Reducing Revolving Loans for the month in question automatically shall he deemed increased to such minimum rate of interest.
Minimum Interest Rate. At no time shall the rate of interest applicable to the Loans or any part thereof be less than five percent (5%) per annum.
Minimum Interest Rate. Subparagraph (d) of Exhibit "B" to the --------------------- Receivables Agreement is hereby modified to delete from the provisions thereof the words "12% per annum" and substitute in lieu thereof the words "10.9% per annum."
Minimum Interest Rate. Servicer and Lender agree that (i) the interest rate charged on any Loan may exceed the minimum interest rate set forth in the Underwriting Criteria and (ii) for every increase or decrease of 100 basis points in the Bank Margin, the minimum interest rate charged on Loans shall accordingly increase or decrease by 100 basis points.
