Hybrid Interest Rate definition
Hybrid Interest Rate means the Combination Interest Rate which is to be computed at Fixed Interest Rate for specified period and after the expiry of the time period of Fixed Interest Rate, the Borrower shall move to Variable Interest Rate as specified in the Loan Agreement, for the balance tenure of the Loan. Hence, Foreclosure charges for Combination Interest Rate shall apply depending on whether at the time of foreclosure, the loan is at Fixed or Variable Interest Rate.
Hybrid Interest Rate means the interest rate which is to be computed at the fixed percentage rate per annum specified in Schedule I hereto for the period specified in Schedule I hereto and after the expiry of the said period, to be computed as the aggregate of the spread specified by the Lender and Six Month MCLR applicable from time to time, for the balance tenor of the Loan (in case the Interest Rate for the Loan is a Hybrid Interest Rate);
Hybrid Interest Rate means 9.5% per annum, with the cash interest portion of the Hybrid Interest accruing interest at a rate of 4.25% per annum and the PIK Interest portion of the Hybrid Interest accruing interest at a rate of 5.25% per annum.