Lease Interest Rate definition

Lease Interest Rate means the lesser of (A) 200 basis points in excess of the Prime Rate in effect from time to time or (B) the maximum amount or rate that lawfully may be charged in the circumstances, if such a maximum exists.

Lease Interest Rate means the lesser of (a) that fluctuating rate of interest equal to two percentage points (2%) over the rate of interest announced from time to time by the Bank of America National Trust and Savings Association as its prime or reference commercial lending rate (or in the event such bank ceases to announce such rate, then by such other federally regulated banking institution as Landlord shall determine), or (b) the maximum interest rate permitted by law.

Lease Interest Rate means four (4) percentage points per annum above the prime rate per annum announced from time to time by PNC Bank, N.A, or its successors.

Examples of Lease Interest Rate in a sentence

• All sums so paid by Landlord (together with interest at the Lease Interest Rate) and all necessary incidental costs and expenses in connection with the performance of any such act by Landlord, shall be deemed to be additional rent under this Lease and shall be payable to Landlord immediately on demand.

• Any monetary obligations due from Tenant to Landlord which are not paid when due shall bear interest from the due date until paid to Landlord at the Lease Interest Rate.

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• Tenant shall document the actual and reasonable costs incurred by Tenant to perform such cure, and supply said documentation to Landlord with a written request for reimbursement, and Landlord shall reimburse Tenant for all such costs within thirty (30) days after receipt of such request for reimbursement, with interest at the Lease Interest Rate accruing from the date Tenant incurred such costs.

• For the purposes of this Lease "Interest Rate" shall mean three (3%) percent per annum over the then prime rate of interest established by Citibank, N.A. (or any successor thereto), adjusted daily, but in no event in excess of the maximum lawful rate of interest permitted by applicable law.

More Definitions of Lease Interest Rate

Lease Interest Rate means two percent (2%) plus the prime rate.

Lease Interest Rate means interest at the rate of twelve (12%) percent per annum provided such rate does not violate the usury laws of New York State. If such rate violates such usury laws, then it shall be 1/2% below the maximum permissible rate.

Lease Interest Rate. As used in this Lease, the "Lease Interest Rate" shall be a rate equal to two percent (2%) per year in excess of the "Reference Rate" most recently announced by Bank of America, Los Angeles from time to time, provided however that if Bank of America ceases to announce such Reference Rate, then such rate shall be a rate comparable to such Reference Rate; and provided further, however, that in no event shall the Lease Interest Rate exceed the highest lawful rate of interest permissible by law.

Lease Interest Rate means the greater of 15% per annum or such variable per annum rate which is from time to time equal to 3% above the base rate as stated by Citibank, N. A. or its successor, or, in the absence of there being a successor to Citibank, N. A. by such other bank having an office in the City of New York as Landlord may from time to time select. Nothing herein shall be construed as waiving any rights of Landlord arising out of any default of Tenant by reason of Landlord’s accepting any such late charge or interest; the right to collect a late charge and interest is separate and apart from any other rights or remedies of Landlord after default by Txxxxx. Without limiting the generality of the foregoing, if Tenant shall be in default in the performance of any of its obligations hereunder, Landlord, without being required to give Tenant any notice or opportunity to cure, may (but shall not be obligated to do so), in addition to any other rights it may have in law or in equity, cure such default on behalf of Tenant, and Tenant shall reimburse Landlord upon demand for any sums paid or costs incurred by Landlord in curing such default, including reasonable attorneys’ fees and other legal expenses, together with interest at the Lease Interest Rate from the dates of Landlord’s incurring of costs or expenses. Tenant further waives the right to any notices to quit as may be specified in the Landlord and Tenant Act of Pennsylvania, Act of April 6, 1951, as amended, or any similar or successor provision of law, and agrees that five days notice shall be sufficient in any case where a longer period may be statutorily specified.

Lease Interest Rate means a rate equal to the lesser of (i) the Prime Rate plus four percent (4%), or (ii) the maximum applicable legal rate.

Lease Interest Rate means the interest rate specified in Item 9 of the Basic Terms.

Lease Interest Rate as used in Section 9.02 and 26.19 of this Lease, shall mean interest at the rate which three percent (3%) in excess of the then current rate of interest charged by the First Union National Bank as its so called “base rate”.