Current Index definition

Current Index. The index, as provided in each Mortgage Note, used to adjust the Mortgage Interest Rate on each Interest Rate Change Date.

Current Index has the meaning indicated in Section 4.2(b).

Current Index. The published Index that is effective on the 15th day before the applicable Rate Change Date.

Examples of Current Index in a sentence

• Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI-U Calculation Example: CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.

• The Note Holder will then round the result of the Margin plus the Current Index to the nearest one-eighth of one percentage point (0.125%).

• Before each Change Date, the Note Holder will calculate my new interest rate by adding percentage points ( %) (the “Margin”) to the Current Index.

• Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI-U Calculation Example: CPI for current period232.945Less CPI for base period229.815Equals index point change3.130Divided by base period CPI229.815Equals0.0136Result multiplied by 1000.0136 x 100Equals percent change1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.

• The most recent Index value available as of the date 45 days before each Change Date is called the “Current Index,” provided that if the Current Index is less than zero, then the Current Index will be deemed to be zero for purposes of calculating my interest rate.

More Definitions of Current Index

Current Index means the Index that is determined by Lender on each Rate Determination Date.

Current Index. The published Index that is effective on the Business Day immediately preceding the applicable Rate Change Date.

Current Index means, with respect to each Interest Change Date, the Index Rate figure most recently available as of such Interest Change Date.

Current Index means the Index in effect for the first month of the lease year for which the adjustment in rent is calculated.

Current Index means the Index for the month of September immediately preceding each anniversary date of the Commencement Date.

Current Index means the index derived for the November of the year immediately preceding the year in which a New Index is derived.

Current Index means the most recent Index figure available thirty (30) days before the Change Date.