Interest Ratchet definition

Interest Ratchet means the following rates of interest:
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Examples of Interest Ratchet in a sentence

  • If a Step Up Event or Step Down Event is specified in the relevant Final Terms, the Rate of Interest applicable to the Notes shall be the Rate of Interest at any time determined in accordance with Condition 6 or Condition 7, as the case may be, (the “ applicable Rate of Interest”), subject to adjustment in accordance with the Interest Ratchet (each such adjustment, a “Rate Adjustment”).

  • The interest rate payable on the Bonds shall be the Initial Rate of Interest, subject to adjustment in accordance with the Interest Ratchet (each such adjustment, a “ Rate Adjustment”).

  • The interest rate payable on the Bonds shall be the Initial Rate of Interest, subject to adjustment in accordance with the Interest Ratchet (each such adjustment, a “ RateAdjustment”).

  • The Rate of Interest payable on the Bonds is subject to adjustment in accordance with the Interest Ratchet in the event of a Step Up Event or a Step Down Event (each such adjustment a “Rate Adjustment”).

  • If Step Down Rating Change or Step Up Rating Change Event is specified hereon, the Rate of Interest payable on the Notes will be the Initial Rate of Interest, subject to adjustment in accordance with the Interest Ratchet (each such adjustment, a “Rate Adjustment”).

  • The rate of interest payable on the Bonds shall be subject to adjustment in accordance with the Interest Ratchet (each such adjustment, a "Rate Adjustment").

  • Interest Rate subject to adjustment in accordance with the Interest Ratchet:Applicable with an Interest Ratchet Margin of 1.25 per cent.

  • Signed Dated* Delete as appropriateANNEX III ADJUSTMENT OF INTEREST RATEThe following provisions form part of these Economic Terms and Conditions.For the avoidance of doubt, the Rating Decrease as defined below exclude any Rating Downgrade as defined in the Change of Control provisions set out in Annex I.1 The Rate of Interest payable on the Notes is subject to adjustment in accordance with the Interest Ratchet in the event of a Step Up Event or a Step Down Event (each such adjustment a “Rate Adjustment”).

  • If a Step Up Event or Step Down Event is specified in the relevant Final Terms, the Rate of Interest applicable to the Notes shall be the Rate of Interest at any time determined in accordance with this Condition 6 (the “ applicable Rate of Interest”), subject to adjustment in accordance with the Interest Ratchet (each such adjustment, a “Rate Adjustment”).

  • The rate of interest payable on the Bonds shall be subject to adjustment in accordance with the Interest Ratchet (as defined in Condition 5(b)), which may apply if a Step Up Event or a Step Down Event (each as defined in Condition 5(b)) occurs with respect to the Bonds.

Related to Interest Ratchet

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Component Interest Rate Not applicable.

  • Class E Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Weighted Average Interest Rates means, with respect to any Outstanding Notes of a class or tranche of the MBNAseries, or of all of the Outstanding Notes of the MBNAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date) of the following rates of interest:

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Settlement Interest Rate means, for the first calendar quarter or portion thereof during which interest accrues, the rate determined by the Receiver to be equal to the equivalent coupon issue yield on twenty-six (26)-week United States Treasury Bills in effect as of Bank Closing as published in The Wall Street Journal; provided, that if no such equivalent coupon issue yield is available as of Bank Closing, the equivalent coupon issue yield for such Treasury Bills most recently published in The Wall Street Journal prior to Bank Closing shall be used. Thereafter, the rate shall be adjusted to the rate determined by the Receiver to be equal to the equivalent coupon issue yield on such Treasury Bills in effect as of the first day of each succeeding calendar quarter during which interest accrues as published in The Wall Street Journal.

  • Note Interest Rate means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Class D Interest Rate means 3.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Class A Interest Rate has the meaning assigned to such term in the Indenture.

  • Loan Interest Rate means, as to any Loan, the annual rate of interest specified in the Loan.