Excess Interest Rate definition

Excess Interest Rate. With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the Mortgage Rate for such Loan resulting from the passage of such Anticipated Repayment Date.

Excess Interest Rate. The Group I, Group II or Group III Excess Interest Rate, as applicable.

Excess Interest Rate. With respect to any Hyper-Amortization Loan after its Anticipated Repayment Date, the incremental increase in the Mortgage Rate for such Mortgage Loan resulting from the passage of such Anticipated Repayment Date.

Examples of Excess Interest Rate in a sentence

• For any Qualified Substitute Mortgage Loan and Distribution Date, the product of (x) the Stated Principal Balance, as of the second preceding Due Date after giving effect to scheduled payments for that Due Date, whether or not received, of such Mortgage Loan and (y) the Qualified Substitute Mortgage Loan Excess Interest Rate for such Mortgage Loan and Distribution Date.

• Unless the Borrower has made other arrangements with us, we will automatically debit the operating account of the Borrower for all fees payable with respect to L/Cs. Any Overdraft in the operating account in excess of any Credit Limit attached to the operating account will bear interest at the Excess Interest Rate.

• If you exceed your Overdraft Limit, we may also charge you interest at an Excess Interest Rate.

• Amounts allocated to the Fixed Account for any Guaranteed Period will be credited with interest at the Subsequent Guarantee Rate, and in addition, an Excess Interest Rate which we may declare at Our discretion.

• You should be aware that we can change the credit fees, charges and Excess Interest Rate you might have to pay under clause 11.1(b)(ii) of the General Terms.

More Definitions of Excess Interest Rate

Excess Interest Rate. The Group 5 Excess Interest Rate and Group 6 Excess Interest Rate, as applicable.

Excess Interest Rate. A per annum rate equal to 0.01%.

Excess Interest Rate means, with respect to any Collection Period, a rate equal to (i) the weighted average APR of the Eligible Receivables, minus (ii) the Servicing Fee Rate, minus (iii) the Annualized Third Party Fee Rate, minus (iv) the product of (x) the applicable Interest Rate for such Collection Period (provided, that, in the event the Interest Rate is determined by reference to the Base Rate, the Interest Rate for a Collection Period shall be the weighted average of the Base Rates in effect during such Collection Period) and (y) the Effective Advance Rate.

Excess Interest Rate. For any Distribution Date, a per annum rate equal to 0.04%.

Excess Interest Rate means the variable reference interest rate per year declared by CIBC from time to time to be its interest rate on accounts that exceed their authorized Credit Limit, which is currently an annual rate of 21%.

Excess Interest Rate means, with respect to any Collection Period, a rate equal to (i) the weighted average APR of the Eligible Receivables, m inus (ii) the Servicing Fee Rate, m inus (iii) the Annualized Third Party Fee Rate, m inus (iv) the product of (x) the applicable Interest Rate for such Collection Period (provided, that, in the event the Interest Rate is determined by reference to the Base Rate, the Interest Rate for a Collection Period shall be the weighted average of the Base Rates in effect during such Collection Period) and (y) the Effective Advance Rate.

Excess Interest Rate means a rate of interest applied to the Bond Special Assessments in accordance with the PID Act which may exceed the actual interest rate per annum paid on the Bonds by no more than one half of one percent (0.50%) (the “Excess Interest Rate”).