Commercial Interest Rate definition

Commercial Interest Rate means the sum of (a) the Prime Rate as reported in the Wall Street Journal on every Tuesday in the Money Rates section; and (b) 500 basis points (or “Prime +5.0%”);
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Commercial Interest Rate. When referring to pesos, it shall be the current interest rate at the time of the delay; in dealing with dollars of the United States of America, it shall be the prime rate fixed by the LIBOR (London Interbank Borrowing Offered Rate), three (3) months for dollar deposits, increased by four percentage points (LIBOR +4%).
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Commercial Interest Rate means a rate equal to the per annum rate of interest equal to the “Monthly” Federal Funds Rate (as reset on a monthly basis and based on the latest month for which such rate is available) as reported in Federal Reserve Bank Publication H.15-519, or any successor publication, published by the Board of Governors of the Federal Reserve System.
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Examples of Commercial Interest Rate in a sentence

  • Overdue payments shall accrue interest from the due date to the date of payment at the Commercial Interest Rate.

  • Any cash posted as Security hereunder shall accrue interest for the benefit of the Posting Party in accordance with the Commercial Interest Rate.

  • If the invoiced Party fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at the Commercial Interest Rate.

  • Overdue payments or refunds shall accrue interest from the due date to the date of payment at the Commercial Interest Rate.

  • In the event a Party disputes an invoice or a portion thereof, or any other claim or adjustment arising with respect to this Agreement, the disputing Party shall pay the disputed invoiced amounts in full on the applicable payment due date, subject to later return together with interest accrued at the Commercial Interest Rate until the date paid.