Examples of Default Rate of Interest in a sentence
To the extent interest due on any Interest Payment Date is not paid, interest shall accrue thereon at the Default Rate of Interest, except as provided herein, until such unpaid interest and interest accrued thereon are paid in full.
Default Rate of Interest: If you are in default and until such time as the default is cured, and in substitution for any other rate of interest specified in this Agreement, interest may be charged at the rate of 24% per annum (or the maximum rate permitted by applicable law) on the debit balance of all margin accounts which are carried by Clearing Firm.
To the extent interest due on any Interest Payment Date is not paid, interest shall accrue thereon (to the extent permitted by applicable law) at the Default Rate of Interest until such unpaid interest and interest accrued thereon are paid in full.
The daily default percentage rate is the Default Rate of Interest divided by 365.
Upon the occurrence of an Event of Default interest will accrue at the Default Rate of Interest as provided in Section 12.02.