Interest Rate Adjustments definition

Interest Rate Adjustments. The Annual Percentage Rate (“APR”) is a variable rate (other than on purchases for the period from the date your account is open until the last day of the 12th billing cycle after your account is open) and will be adjusted according to the Index Rate. The Index Rate is the Prime Rate published in The Wall Street Journal on the last business day of the month immediately preceding the month in which the billing cycle commences. The daily periodic rate is determined by dividing the APR currently in effect by 365, and then truncating that number to the nearest one hundred thousandth percent. The rate so determined will remain in effect until the first day of the next billing cycle, when it will be adjusted again. The APR is 0% on purchases for the period from the date your account is open until the last day of the 12th billing cycle after your account is open (promotional period). This is a daily periodic rate of 0%. The APR is 26.65 percentage points above the Index Rate on purchases after the last day of the promotional period and on cash advances. This APR as of the date set forth below is 30.65%, which is a daily periodic rate of .08396%. The APR (other than during the promotional period) will increase if there is an increase in the Index Rate. An increase in the Index Rate may result in an increase in the minimum monthly payment. The APR (other than during the promotional period) will decrease if there is a decrease in the Index Rate. The APRs will never be increased above the maximum rate permitted by law. The foregoing APRs and daily periodic rates are based on the Index Rate as of June 30, 2022, and are estimates. To obtain each APR currently in effect, call the Bank (toll-free) at 0-000-000-0000. There is a minimum interest charge of 50¢ for each billing period in which an interest charge is imposed.
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Examples of Interest Rate Adjustments in a sentence

  • Interest Rate Adjustments: The annual adjustable rate HECM loans related to a pool may have different interest rate adjustment dates.

  • The interest rate on ISRF Financings will be based on a combination of the Interest Rate Benchmark and Interest Rate Adjustments.

  • I/We above named tenderer do hereby solemnly affirm and verify that the contents of my/our above affidavit are true andcorrect.

  • Generally, Interest Rate Adjustments will cause the interest rate on ISRF Financings to be below the Interest Rate Benchmark.

  • Change Date March 24, 2011 4155.1 6.B.2.aARM Interest Rate Adjustments and CapsThe table below describes the annual interest rate adjustment and interest rate cap over the life of the five types of Adjustable Rate Mortgage (ARM) loans.

  • Interest Rate Adjustments Traditional ARMs: Interest rate adjustments occur on an annual basis.

  • Credit Rating-Related Interest Rate Adjustments Paragraph 6d, includes an exclusion that prevents certain embedded derivatives from “tainting” the host financial instrument and thereby preventing it from being reported as a bond where the embedded derivative does not call into question its bond-like characteristics.

  • Method of Calculating Interest Rate Adjustments The mortgagee and the borrower negotiate the initial interest rate and margin.

  • Calculating Interest Rate Adjustments, Continued 4155.1 6.B.5.bBasis for the IndexThe index used is based on either the weekly LIBOR rate, orweekly average yield on U.S. Treasury securities, adjusted to a constantmaturity of one year.

  • The Interim Value is used to calculate amounts available for withdrawal, surrender (including any applicable surrender charge, Interest Rate Adjustments, premium tax or rider fees and charges), annuitization or payment of a death claim for each day during an Indexed Term.

Related to Interest Rate Adjustments

  • 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.

  • Rate Adjustment Date With respect to each ARM Loan, the date on which the Note Rate adjusts.

  • Interest Rate Adjustment Event means the occurrence of any of the following:

  • Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms.

  • Interest Adjustment Rate means the interest adjustment rate assigned to the Security. The initial Interest Adjustment Rate is the interest adjustment rate specified in the Table (the "Initial Interest Adjustment Rate").The Issuer may adjust, in its reasonable discretion pursuant to §315 BGB and in consideration of the relevant capital market practice and by acting in good faith (including market interest rates and the interest-rate expectations of the market), the Interest Adjustment Rate, including the Initial Interest Adjustment Rate, on any Scheduled Trading Day within the range (deviation (+) or (-)) specified in the Table for any given Security. The adjusted rate will be published without undue delay in accordance with §12.

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

  • 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;

  • 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 Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

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

  • Interest Rate Contracts means all interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and interest rate insurance.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Eurodollar Rate (Reserve Adjusted) means, with respect to any Settlement Period and any portion of the Capital, a rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined pursuant to the following formula: Eurodollar Rate = Eurodollar Rate (Reserve Adjusted) 1 - Eurodollar Reserve Percentage where:

  • Value Adjustments means cash lending revenues and other revenues on collateral in respect of a Series of ETP Securities.

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • 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.

  • LIBOR Adjustment Date With respect to any Payment Date, the second business day before the related Accrual Period begins. For this purpose, a “business day” is a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.C.

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

  • 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.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

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

  • Component Interest Rate Not applicable.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 85% of the lesser of (i) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if after the Interest Payment Date.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.