Involuntary Rate means the Prime Rate plus six percent (6%) per annum but, in no event, in excess of the maximum permissible interest rate then in effect in the Commonwealth of Virginia.
Involuntary Rate means at any time a rate per annum equal to two (2%) percent in excess of the otherwise applicable rate or, if there is no rate in effect, two (2%) percent in excess of the Prime Rate in effect from time to time.
Involuntary Rate means twelve and seventy-five hundredths percent (12.75%) above the rate of interest that would otherwise be payable under the Note, but in no event to exceed the maximum rate allowed by law.
Examples of Involuntary Rate in a sentence
Any amount so paid by Xxxxxxxx, including all reasonable costs and expenses incurred by Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of Landlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to Landlord within ten (10) days after demand.
All of the sums paid or obligations incurred by Landlord as aforesaid, with interest at the Involuntary Rate, shall be paid by Tenant to Landlord within fifteen (15) days after demand by Landlord.
More Definitions of Involuntary Rate
Involuntary Rate shall have the meaning set forth in the Note.
Involuntary Rate means the Interest Rate provided in the Note plus five (5%) percent, but in no event to exceed the maximum rate allowed by law.
Involuntary Rate means (i) eighteen (18%) percent per annum, or (ii) the maximum rate or amount, if any, permitted by applicable law, whichever is less.
Involuntary Rate means the lesser of (x) fifteen percent (15%) per annum, or (y) the highest rate of interest per annum allowed by law for loans evidenced by the Note and secured by this Mortgage.
Involuntary Rate means the rate of interest described in Section 1.08(c) of the Credit Agreement.
Involuntary Rate. An annual rate equal to the greater of (a) ten percent (10%) above the Prime Lending Rate for Dollars applicable from time to time or (b) eighteen percent (18%), (but in no event higher than the maximum rate permitted by applicable law).
Involuntary Rate. An annual rate equal to the lesser of (i) Prime Rate plus 10% (i.e. plus 1,000 basis points); or (ii) 18% (which is a daily rate of ..0493150685%), but if such interest rate should ever exceed that permitted by law, the highest interest rate permitted by law shall be applicable. LANDLORD'S APPROVAL LETTER. See Exhibit F.