Legal Interest Rate definition

Legal Interest Rate means 1.31%, the federal post-judgment interest ratein effect on the Petition Date, as set forth in 28 U.S.C. §1961.
Sample 1
Legal Interest Rate means 1.41%, the federal post-judgment interest rate in effect on the Petition Date, as set forth in 28 U.S.C. §1961.
Sample 1
Legal Interest Rate means the reference loan rate of financial institution set forth and/or promulgated (as adjusted from time to time) by the Headquarters of the People's Bank of China. The Legal Interest Rate shall be the reference to determine the loan rate under this Contract that will change together with the adjustment thereof.
Sample 1

Examples of Legal Interest Rate in a sentence

  • At closing on the sale of the Real Property, the Allowed Class 1 Claim shall be paid in full from Available Cash, with interest at the Legal Interest Rate.

  • If any instalments are due and not paid, they will accrue delay interest at a nominal rate equivalent to two percentage points above the ordinary interest rate agreed yet under no circumstance may exceed three times the Legal Interest Rate of Money, the maximum limit established by the Spanish Mortgage Act.

  • Fort asserts Larry and Michael received voluntary transfers by way of overpayment because they waived the accrual of interest during the 15-month period set forth in the 2007 Memorandum or, alternatively, the parties intended for the LIBOR rate to apply.12 Fort also contends the Legal Interest Rate is applicable for the time thereafter because no interest rate is provided in the 2007 Memorandum.

  • Under no circumstance may it be higher than three times the Legal Interest Rate of Money.

  • The holder of the Allowed Class 1 Claim shall also receive interest on such Allowed Class 1 Claim at the Legal Interest Rate for the period commencing on the Petition Date and ending on the Effective Date (or date of payment, if payment is made after the Effective Date).

  • The holders of Allowed Class 6 Claims shall also receive interest on such Allowed Class 6 Claims at the Legal Interest Rate for the period commencing on the Petition Date and ending on the Effective Date (or date of payment, if payment is made after the Effective Date).

  • Provided the Class 4 Carveout is repaid with interest, the holders of Allowed Class 6 Claims then will receive an additional Pro Rata distribution from Available Cash until the Allowed Class 6 Claims are paid in full, with interest at the Legal Interest Rate.

  • The Class 4, 5, and 6 Allowed Claims will be paid interest post-petition at the Legal Interest Rate.

  • At closing on the sale of the Real Property, after payment in full of the Allowed Class 1 Claim and the Allowed Class 2 Claims, the Allowed Class 3 Claim shall be paid in full from Available Cash, with interest at the Legal Interest Rate.

  • The holder of the Allowed Class 4 Claim shall also receive interest on such Allowed Class 4 Claim at the Legal Interest Rate for the period commencing on the Petition Date and ending on the Effective Date (or date of payment, if payment is made after the Effective Date).


More Definitions of Legal Interest Rate

Legal Interest Rate means 1.41%, the federal post-judgment interestrate in effect on the Petition Date, as set forth in 28 U.S.C. §1961.
Sample 1

Related to Legal Interest Rate

  • Initial Interest Rate means, as of any date of determination, (a) with respect to each A Note, the Initial Note A Interest Rate and (b) with respect to each B Note, the Initial Note B Interest Rate.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Additional Interest Rate With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.

  • Capped Interest Rate is defined in the Note, if applicable.

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

  • 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.

  • Post-ARD Additional Interest Rate With respect to any ARD Mortgage Loan after its Anticipated Repayment Date, the incremental increase in the Mortgage Rate for such ARD Mortgage Loan resulting from the passage of such Anticipated Repayment Date.

  • Interest Rate Cap Payment (a) With respect to the Class A-2 Certificates and the first 36 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class A-2 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (ii) the applicable Class A-2 notional amount set forth on Schedule A to the Class A-2 Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates and the first 44 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, and the first 44 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Stated Interest Rate “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, “Underwriting Agreement”, “United”, and “United Bankruptcy Event”.

  • Floating Interest Rate means: (a) initially Three-Month Term SOFR (as defined below). (b) Notwithstanding the foregoing clause (i) of this Section 2(b): (i) If the Calculation Agent, determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Holders and Section 2(c) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period. (ii) However, if the Calculation Agent, determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent (as defined below). (iii) If the then-current Benchmark is Three-Month Term SOFR and any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Interest Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Company, then the relevant Three-Month Term SOFR Conventions will apply.

  • Retained Interest Rate Not applicable.

  • Interest Rate Cap means the establishment of an upper limit for a variable interest rate.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its "prime rate." If a Citibank, N.A. prime rate is not available, the applicable prime rate shall be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid. "Contract Price" means the applicable price, expressed in $/MWh for Net Output and Capacity Rights stated in Section 5.1.

  • Interest Rates Annual Percentage Rates (APRs) - The APR corresponds to the Daily Periodic Rate (“DPRs”): the APR is equal to the DPR multiplied by 365, and the DPR is equal to the APR divided by 365. Interest charges are calculated by using the DPR. If a rate is a variable rate, we calculate that APR by adding together an index and a margin. For more information on variable rates, please refer to Section 11 (c). We add transactions and fees to your daily balance no earlier than: For new Purchases, Balance Transfers or Cash Advances – the date of the transaction. For new Bank Card Checks - the date the payee deposits the check. Fees – either on the date of a related transaction, the date they are posted to your Account, or the last day of the billing cycle, whichever we may choose. The balances subject to interest rate for each type of transaction shown on your billing statement is the sum of the daily balances for that type of transaction divided by the number of days in the billing cycle. We may use mathematical formulas that produce equivalent results to calculate the balance subject to interest rate, interest charges andrelated amounts.

  • 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).

  • 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.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.

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

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • 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.

  • Bond Interest Rate means, with respect to any Tranche of Securitization Bonds, the rate at which interest accrues on the Securitization Bonds of such Tranche, as specified in the Series Supplement.

  • Reference Interest Rate means the following rate (expressed as a percentage rate per annum) for deposits in the currency of the Strike Price: the Reference Interest Rate specified in the Table which has been published on the screen page specified in the Table (the "Screen Page") (or on a screen page replacing such screen page) on the immediately preceding Reset Date, provided that if such day is a Monday, the relevant day will be the immediately preceding Friday; all as determined by the Determination Agent.

  • Late Payment Rate As defined in the Insurance Agreement.

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