Variable Interest Sample Clauses

Variable Interest. Each variable interest rate provided for under this Agreement will change automatically, without notice, whenever the Prime Rate or the U.S. Base Rate, as the case may be, changes.
Sample 1Sample 2Sample 3See All (4)
Variable Interest. In the event that the Company's net income for any financial year before the Maturity Date exceeds EUR 2,000,000, the Principal shall accrue an additional variable interest of 2% (the "Variable Interest"), which shall be calculated based on a 360 days’ year and shall be due and payable on the Maturity Date. For the avoidance of doubt, the Variable Interest will amount to 0% in the event that the net income does not exceed EUR 2,000,000. The Variable Interest shall be added to the Principal and the Fixed Interest, and considered for the purposes of capitalizing the Loan, excluding any withholding tax to be applied to the Variable Interest.
Sample 1Sample 2
Variable Interest. The interest rate We shall use to calculate the Periodic Rate and the corresponding Average Daily Balance may change the first day of each billing period, and shall be effective for that billing period. The applicable interest rate shall be equal to the prevailing “Prime Rate” on the first day of the billing period, plus the number of percentage points set as a margin in the Statement of Charges and Fees. “Prime Rate” shall be the base rate for commercial loans announced by no less than 75% of the 30 largest banks in the United States, as published in The Wall Street
Sample 1
Variable Interest. If the summary specifies the interest rate is variable, subject to the following clause, each change in interest rate shall take effect on the date the Reserve Bank of Australia publishes a change in the Cash Target Rate. The lender must notify the borrower of each interest rate change within 14 days of such change. If the lender fails or chooses not to so notify the borrower of an interest rate increase within 14 days of publication by the Reserve Bank of an increase in the Target Cash Rate, that interest rate increase shall not apply. The lender may recalculate the instalments payable by the borrower if there is an alteration to the rate of interest payable or if there is any further advance or any other money become payable. The lender shall recalculate the instalments payable so as to ensure, as nearly as practicable, that the amount of the loan and interest thereon will be repaid to the lender on the due date. In the event that instalments are not recalculated then any additional interest payable shall be capitalized monthly. The lender shall give notice in writing to the borrower of any recalculation and upon receipt of such notice the borrower shall pay to the lender the instalments as recalculated by the lender. If the borrower pays to the lender payments in excess of those then due and the lender accepts them, those payments shall be credited to the borrower’s account with the lender but the borrower’s obligation to make any succeeding payment on the due date for payment shall not be altered. The commencing interest rates are as specified in the summary
Sample 1
Variable Interest. If this Note provides for interest which may vary based on changes in a designated, published, or otherwise determined rate (hereafter referred to as the "reference rate"), the interest rate on this Note shall change effective: with each change in the Wall Street Journal Prime Rate as published in the Wall Street Journal. If more than one change in the reference rate occurs before such effective date, the most recent change shall control.
Sample 1
Variable Interest. (1) If it is noted in the interest clause of the deposit application that variable interest shall be paid in respect of any deposit period or in respect of one or more of the deposit periods, the deposit principal shall bear, for the said period, variable interest at the rate identical to the prime interest, as determined by the Bank from time to time, less a fixed-rate margin set forth in the deposit application. The deposit interest rate correct as at the deposit commencement date until a change in the prime interest, as set forth below, is as set forth in the deposit application. (2) Wherever there is a change in the prime interest at the Bank, the deposit interest rate shall change accordingly and the interest shall be computed in accordance with the number of days to which the said rate applies, divided by 365 or 366, in accordance with the number of days in the year in which the said period falls. If part of the computation period is in a 365 day year and the other part in a 366 day year, the computation shall be made in respect of each part separately, in accordance with the number of days in the year in which such part of the deposit period in respect of which the computation is being made, falls. (3) Notwithstanding the provisions of Clause 6.2.3(2) above, if the Prime interest is not determined for any day, the interest rate shall not be computed as aforesaid, but as of such date until the date on which the Prime interest is again determined, the interest applicable shall be variable interest at the rate determined by the Bank each day and applicable in respect of such day only, which shall be identical to the interest rate prevailing at the Bank on such day in respect of new 7 day “fixed Pakam” deposits, in an amount similar to the deposit amount as shall be on such day, as noted in the interest rates table.
Sample 1
Variable Interest. THIS PARAGRAPH IS TO PROVIDE RECORD NOTICE OF THE RIGHT OF MORTGAGEE TO INCREASE OR DECREASE THE INTEREST RATE ON ANY OF THE OBLIGATIONS IN ACCORDANCE WITH THE TERMS OF THE LOAN DOCUMENTS WHERE THE TERMS AND PROVISIONS OF SUCH LOAN DOCUMENTS PROVIDE FOR A VARIABLE INTEREST RATE.
Sample 1
Variable Interest. During the portion of the Term beginning on the day after Project Completion and continuing through the Interest Accrual Period ending on December 31, 2003, Borrower shall pay Variable Interest on a monthly basis in arrears on each Interest Payment Date, in an amount equal to nine and ninety-nine one hundredths of one percent (9.99%) of the EBITDA of the Borrower for the calendar month prior to such Interest Payment Date. By way of illustration, the Variable Interest payment due on March 15, 2003 would be based on the EBITDA of the Borrower for the calendar month of February, 2003. Within twenty (20) days after the delivery of the audited financial statements for the fiscal year of Borrower ending on September 30, 2003 pursuant to Section 13.1, the Borrower shall adjust the amount of Variable Interest paid in respect of such fiscal year by either paying additional Variable Interest in an amount computed by subtracting (x) the sum of the monthly Variable Interest payments previously made by Borrower in respect of such fiscal year from (y) nine and ninety-nine one hundredths of one percent (9.99%) of the actual EBITDA set forth in such financial statements for such fiscal year, or, if the resulting difference is negative, by crediting the difference against each successive monthly payment of Fixed Interest by Borrower until fully reimbursed to the Borrower. Each payment of Variable Interest shall be accompanied by Borrower's detailed computation of the amount of such payment and a copy of its financial statements upon which such computation is based.
Sample 1

Related to Variable Interest

  • VARIABLE INTEREST RATE The interest rate on this Note is subject to change from time to time based on changes in an index which is the BOKF National Prime Rate, described as the rate of interest set by BOK Financial Corporation, in its sole discretion, on a daily basis as published by BOK Financial Corporation ("BOKF") from time to time (the "Index"). The Index is not necessarily the lowest rate charged by Lender on its loans and is set by Lender in its sole discretion. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute index after notifying Borrower. Lender will tell Borrower the current Index rate upon Borrower's request. The interest rate change will not occur more often than each day. Borrower understands that Lender may make loans based on other rates as well. The Index currently is 4.000% per annum. Interest on the unpaid principal balance of this Note will be calculated as described in the "INTEREST CALCULATION METHOD" paragraph using a rate of 0.500 percentage points under the Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of 3.500% per annum based on a year of 360 days. NOTICE: Under no circumstances will the interest rate on this Note be less than 3.500% per annum or more than the maximum rate allowed by applicable law. INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this method.

  • Consolidation of Variable Interest Entities All references herein to consolidated financial statements of the Borrower and its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein.

  • 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.

  • Applicable Interest Rates (a) U.S.

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • Simple Interest Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.

  • Insurable Interest To the extent that Purchaser may have any equitable or insurable interest in the Property, Purchaser will take appropriate steps to protect the same. Notwithstanding the foregoing, should the Property be damaged by calamity after the date hereof, but before Closing, Seller, may, at the Seller’s sole option, declare this Agreement null and void, and, on the return of the Deposit to Purchaser, the parties shall have no further liability to each other.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Variable Rate The initial ANNUAL PERCENTAGE RATE for Purchases is a fixed promotional rate as shown on page 1 of this Agreement and will remain in effect for your first six (6) billing cycles following the opening of your account ("Initial Rate Period for Purchases"). The Daily Periodic Rate during the Initial Rate Period for Purchases is 0%. After the Initial Rate Period for Purchases, the Daily Periodic Rate for Purchases based on the Current Index and Rate Spread described below will be .0493% and the corresponding ANNUAL PERCENTAGE RATE will be 18.00%. After the Initial Rate Period for Purchases, the ANNUAL PERCENTAGE RATE for Purchases will change to the current rate shown on page 1 of this Agreement. The ANNUAL PERCENTAGE RATE for transfers of account balances you have with another creditor ("Balance Transfers") is a fixed rate as shown on page 1 of this Agreement and will be in effect for eight (8) billing cycles following the opening of your account. The Daily Periodic Rate for Balance Transfers during the eight-billing cycle period is 4.99%. The Daily Periodic Rate for Balance Transfers after the eight-billing cycle period based on the Current Index and Rate Spread described below will be .0493% and the corresponding ANNUAL PERCENTAGE RATE will be 18.00%. The ANNUAL PERCENTAGE RATE for Balance Transfers after the eight-billing cycle period will change to the current rate shown on page 1 of this Agreement. The current Daily Periodic Rate for Purchases and Balance Transfers is .0493%. The Daily Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE may change (by increasing or decreasing) on the first day of each of your billing cycles that begin in March, June, September, and December. Each date on which the rate of interest could change is called a "Change Date." Changes will be based on changes in the "Index." The Index is the highest U.S. Prime Rate published in the "Money Rates" section of The Wall Street Journal on the last business day of the calendar month prior to the month in which the Change Date occurs. The most recent Index is called the “Current Index.” If the Index is no longer available, we will choose a new index based upon comparable information and will give you notice of our choice. Your interest rate for Purchases is based on a variable rate equal to the sum of the Current Index plus a "Rate Spread" of 12.99 percentage points. (The Rate Spread is also called the Margin.) Immediately before each Change Date we will determine the new interest rate for Purchases by adding the Rate Spread to the Current Index. For example, if the Current Index was 7.00% and the Rate Spread 12.99 percentage points, the ANNUAL PERCENTAGE RATE would be 18.00% and by dividing this percentage figure by 365, we would compute a Daily Periodic Rate of .0493%. The new interest rate for Purchases will become effective at the start of your first billing cycle after the Change Date. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate permitted by law. The effect of any increase in the ANNUAL PERCENTAGE RATE and the Daily Periodic Rate for Purchases would be to increase the amount of interest you must pay and thus increase your monthly payments.

  • Payment of Additional Interest Unless otherwise provided pursuant to Section 2.03, the provisions of this Section 4.06 shall be applicable to Bearer Securities of any series. The Company will, subject to the exceptions and limitations set forth below, pay as additional interest to the Holder of any Bearer Security or Coupon that is a United States Alien such amounts as may be necessary so that every net payment on such Bearer Security or Coupon, after deduction or withholding for or on account of any present or future tax, assessment or other governmental charge imposed upon or as a result of such payment by the United States (or any political subdivision or taxing authority thereof or therein), will not be less than the amount provided in such Bearer Security or Coupon to be then due and payable. However, the Company will not be required to make any such payment of additional interest for or on account of: (a) any tax, fee, assessment or other governmental charge that would not have been imposed but for (i) the existence of any present or former connection between such Holder (or between a fiduciary, settlor or beneficiary of, or a Person holding a power over, such Holder, if such Holder is an estate or a trust, or a member or shareholder of such Holder, if such Holder is a partnership or corporation) and the United States, including such Holder (or such fiduciary, settlor, beneficiary, Person holding a power, member or shareholder) being or having been a citizen or resident thereof or being or having been engaged in trade or business or present therein or having or having had a permanent establishment therein or (ii) such Holder's past or present status for United States Federal income tax purposes as a personal holding company, foreign personal holding company or private foundation or other tax-exempt organization with respect to the United States or as a corporation that accumulates earnings to avoid United States Federal income tax; (b) any estate, inheritance, gift, sales, transfer or personal property tax or any similar tax, assessment or other governmental charge; (c) any tax, fee, assessment or other governmental charge that would not have been imposed but for the presentation by the Holder of a Bearer Security or Coupon for payment more than 15 days after the date on which such payment became due and payable or on which payment thereof was duly provided for, whichever occurs later; (d) any tax, fee, assessment or other governmental charge that is payable otherwise than by deduction or withholding from a payment on a Bearer Security or Coupon; (e) any tax, fee, assessment or other governmental charge that would not have been imposed but for a failure to comply with applicable certification, documentation, information or other reporting requirement concerning the nationality, residence, identity or connection with the United States of the Holder or beneficial owner of a Bearer Security or Coupon if, without regard to any tax treaty, such compliance is required by statute or regulation of the United States as a precondition to relief or exemption from such tax, assessment or other governmental charge; or (f) any tax, fee, assessment or other governmental charge imposed on a Holder that actually or constructively owns ten percent or more of the combined voting power of all classes of stock of the Company or that is a controlled foreign corporation related to the Company through stock ownership; nor shall additional interest be paid with respect to a payment on a Bearer Security or Coupon to a Holder that is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner would not have been entitled to the additional interest had such beneficiary, settlor, member or beneficial owner been the Holder of such Bearer Security or Coupon. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of, or premium, if any, or interest on, any Debt Security or payment with respect to any Coupon of any series, such mention shall be deemed to include mention of the payment of additional interest provided for in the terms of such Debt Securities and this Section 4.06 to the extent that, in such context, additional interest is, was or would be payable in respect thereof pursuant to the provisions of this Section 4.06 and express mention of the payment of additional interest (if applicable) in any provisions hereof shall not be construed as excluding additional interest in those provisions hereof where such express mention is not made. If the payment of additional interest becomes required in respect of the Debt Securities or Coupons of a series, at least ten days prior to the first interest payment date with respect to which such additional interest will be payable (or if the Debt Securities of that series will not bear interest prior to its Stated Maturity, the first day on which a payment of principal, and premium, if any, is made and on which such additional interest will be payable), and at least ten days prior to each date of payment of principal, and premium, if any, or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers' Certificate, the Company will furnish the Trustee and each paying agent with an Officers' Certificate that shall specify by country the amount, if any, required to be withheld on such payments to Holders of Debt Securities or Coupons that are United States Aliens, and the Company will pay to the Trustee or such paying agent the additional interest, if any, required by the terms of such Debt Securities and this Section 4.06. The Company covenants to indemnify the Trustee and any paying agent for, and to hold them harmless against, any and all loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers' Certificate furnished pursuant to this Section 4.06.