Common use of Stipulated Rate Clause in Contracts

Stipulated Rate. The rate of interest, calculated annually, equal to --------------- two percent (2%), plus the annual rate of simple interest announced from time to time by Citibank, N.A. as its publicly announced commercial prime lending rate to its most creditworthy borrowers, but not higher than the highest nonusurious rate of simple interest for commercial loans under applicable law, nor lower than the lowest interest rate that may be charged without causing the imputation of interest for federal income tax purposes.

Stipulated Rate. The rate of interest, calculated annually, equal to --------------- two percent (2%), ) per annum plus the annual rate of simple interest announced reported from time to time by Citibank, N.A. The Wall Street Journal as its publicly announced commercial prime lending rate to its most creditworthy borrowersthe "Prime Rate", but not higher than the highest nonusurious rate of simple interest for commercial loans under applicable law, nor lower than the lowest interest rate that may be charged without causing the imputation of interest for federal income tax purposes.