Maximum Allowable Rate definition

Maximum Allowable Rate means the highest amount which a licensed or certified provider may charge a patient for a given service in accordance with the appropriate rate schedule.
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Maximum Allowable Rate means the statewide average per diem cost for services as derived in accordance with OAR 309- 015-0020 and 309-015-0021.
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Maximum Allowable Rate means, on any day, the maximum non-usurious rate of interest permitted for that day by whichever of applicable federal or Texas law permits the higher interest rate, stated as a rate per annum. On each day, if any, that Chapter One ("Chapter One") of Title 79, Texas Revised Civil Statutes, 1925, as amended (the "Texas Credit Code"), establishes the Maximum Allowable Rate, the Maximum Allowable Rate shall be the "indicated rate ceiling" (as defined in Chapter One) for that day. To the extent that the Maximum Allowable Rate under applicable law is subject to fluctuation, without notice to Borrower or any other person or entity, the Maximum Allowable Rate hereunder shall automatically fluctuate upward and downward as, and in the amount by which, the maximum non-usurious rate of interest permitted by applicable law fluctuates. In no event shall the rate of interest calculated and charged hereunder exceed the Maximum Allowable Rate. All agreements between Borrower and Bank, or any subsequent Holder of this Note, whether now existing or hereafter arising and whether written or oral, are expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of the maturity of this Note or otherwise, shall the aggregate of all amounts paid or agreed to be paid to the Holder of this Note for the use, forbearance or detention of the funds advanced pursuant to this Note or for the performance or payment of any covenant or obligation contained herein or in any other document evidencing, securing or pertaining to this Note or of any other debt evidenced hereby exceed the Maximum Allowable Rate. If from any circumstances whatsoever, fulfillment of any provision hereof or of any such other document, at the time performance of such provision shall be due, shall involve transcending the limit of validity prescribed by applicable law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any circumstance or reason whatsoever, the interest paid or received on this Note during its full term produces a rate which exceeds the Maximum Allowable Rate, Bank or any subsequent Holder of this Note shall refund to the payor or, at Bank's or such Holder's option, credit against the unpaid principal of this Note, if any, such portion of said interest as shall be necessary to cause the interest paid on this Note to produce a rate equal to the Maximum Allowable Rate. All sums paid or agreed to be paid to an...
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Examples of Maximum Allowable Rate in a sentence

  • In the event that fulfillment of any provision of this Agreement results in the interest rate hereunder being in excess of the Maximum Allowable Rate, the obligation to be fulfilled shall automatically be reduced to eliminate such excess.

  • If, notwithstanding the foregoing, the Bank receives an amount which under applicable law would cause the interest rate set forth in this Agreement to exceed the Maximum Allowable Rate, the portion thereof which would be excessive shall automatically be applied to and deemed a prepayment of the unpaid principal balance of the Loan and not a payment of interest.

  • If notwithstanding the foregoing, the holder of such Obligation receives an amount which under applicable law would cause the interest rate thereunder to exceed the Maximum Allowable Rate, the portion thereof which would be excessive shall automatically be applied to and deemed a prepayment of the unpaid principal balance under such Obligation and not a payment of interest.

  • The MMIS system then pays the actual billed amount up to the Maximum Allowable Rate X 1.75.

  • In the event that fulfillment of any provisions of any Obligation results in the interest rate thereunder being in excess of the Maximum Allowable Rate, then amount to be paid thereunder resulting in an excessive interest rate shall automatically be reduced to eliminate such excess.

  • For purposes hereof, "applicable law" shall mean the law in effect on the date hereof, except that if there is a change in such law which results in a higher Maximum Allowable Rate being applicable to the Obligation subject thereto, then such Obligation shall be governed by such amended law from and after its effective date.

  • If, notwithstanding the foregoing, the Bank or any other holder of this Restated Note receives an amount which under applicable law would cause the interest rate hereunder to exceed the Maximum Allowable Rate, the portion thereof which would be excessive shall automatically be applied to and deemed a prepayment of the unpaid principal balance of this Restated Note and not a payment of interest.

  • As an example, Medi-Cal claims are paid at the State Maximum Allowable Rate (SMA) which is typically less than the billed amount.

  • The interest rate provisions of each of the Obligations are subject to the condition that in no event shall the amount paid or agreed to be paid to the holder of such Obligation which is deemed interest under applicable law exceed the maximum rate of interest on the unpaid principal balance of such Obligation allowed by applicable law, if any, (the "Maximum Allowable Rate").

  • In the event that fulfillment of any provision of this Restated Note or the Loan Documents results in the interest rate hereunder being in excess of the Maximum Allowable Rate, the obligation to be fulfilled shall automatically be reduced to eliminate such excess.


More Definitions of Maximum Allowable Rate

Maximum Allowable Rate means the statewide average per diem cost for services as derived in
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Maximum Allowable Rate means, on any day, the maximum nonusurious rate of interest permitted for that day by whichever of applicable federal or Texas law permits the higher interest rate, stated as a rate per annum.
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Maximum Allowable Rate means the statewide average per diem cost for services as
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Maximum Allowable Rate means, on any day, the maximum nonusurious rate of interest permitted for that day by applicable law, stated as a rate per month. It is expressly acknowledged and agreed that Alabama law, including without limitation the laws governing interest, shall be applicable to this Agreement and shall establish the Maximum Allowable Rate; provided, however, that if for any reason whatsoever it is determined by a court of competent jurisdiction that, notwithstanding the Merchant's and the Bank's express agreement that no law other than Alabama law shall be applicable to this Agreement with respect to usury, on any day that any other law is deemed applicable, the Maximum Allowable Rate shall be the maximum nonusurious rate of interest applicable to an entity such as Merchant in the applicable jurisdiction. If for any reason Merchant's performance of an agreement or obligation under this Agreement involves exceeding the limit of validity prescribed by applicable law, then such agreement or other obligation shall be reduced to the limit of such validity, and if for any reason amounts paid under this Agreement during its full term are deemed interest which produces a rate which exceeds the Maximum Allowable Rate, Bank shall refund to Merchant such portion of said interest as shall be necessary to cause the interest paid on this Agreement to produce a rate equal to the Maximum Allowable Rate.
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Related to Maximum Allowable Rate

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Maximum allowable cost list means a list of drugs for

  • Maximum allowable residential density means the density allowed under the zoning ordinance and land use element of the general plan, or if a range of density is permitted, means the maximum allowable density for the specific zoning range and land use element of the general plan applicable to the project. Where the density allowed under the zoning ordinance is inconsistent with the density allowed under the land use element of the general plan, the general plan density shall prevail.

  • Maximum Advance Rate means 80.0%.

  • Applicable Rate means a percentage per annum equal to:

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Hurdle Rate means the minimum annual rate of return over the Net Asset Value at launch, or the beginning of the relevant Performance Period, as applicable, that must be achieved before an Equalisation Performance Fee is applied (details of which are set out in the section headed “Unit Class Information” in the Supplement for the relevant Fund where applicable). This rate is accrued at each Valuation Point.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Bonds during such period and (ii) 1.54.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Adjusted Maximum Amount means, with respect to a Contributing Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this Guaranty or a Related Guaranty, in each case determined in accordance with the provisions hereof and thereof; provided that, solely for purposes of calculating the “Adjusted Maximum Amount” with respect to any Contributing Guarantor for purposes of this paragraph 2, the assets or liabilities arising by virtue of any rights to or obligations of contribution hereunder or under any similar provision contained in a Related Guaranty shall not be considered as assets or liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of any date of determination, the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty and the Related Guaranties (including, without limitation, in respect of this paragraph 2 or any similar provision contained in a Related Guaranty). The amounts payable as contributions hereunder and under similar provisions in the Related Guaranties shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this paragraph 2 or any similar provision contained in a Related Guaranty shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder or under a Related Guaranty. Each Contributing Guarantor under a Related Guaranty is a third party beneficiary to the contribution agreement set forth in this paragraph 2.

  • Maximum Permissible Rate means, with respect to interest payable on any amount, the rate of interest on such amount that, if exceeded, could, under Applicable Law, result in (a) civil or criminal penalties being imposed on the payee or (b) the payee's being unable to enforce payment of (or, if collected, to retain) all or any part of such amount or the interest payable thereon.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • Annual Percentage Rate or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

  • Maximum Amount means the Maximum Amount as specified in § 1 of the Product and Underlying Data.

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Maximum Applied Water Allowance (MAWA) means the upper limit of annual applied water for the established landscaped area as specified in Section 492.4. It is based upon the area's reference evapotranspiration, the ET Adjustment Factor, and the size of the landscape area. The Estimated Total Water Use shall not exceed the Maximum Applied Water Allowance. Special Landscape Areas, including recreation areas, areas permanently and solely dedicated to edible plants such as orchards and vegetable gardens, and areas irrigated with recycled water are subject to the MAWA with an ETAF not to exceed 1.0. MAWA = (ETo) (0.62) [(ETAF x LA) + ((1-ETAF) x SLA)]

  • Minimum Dilution Reserve Percentage means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the average of the Dilution Ratios for the twelve (12) most recent Fiscal Months, multiplied by (b) the Dilution Horizon Ratio.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Expense Rate As to each Mortgage Loan, the sum of the Master Servicing Fee Rate and the Trustee Fee Rate.

  • Maximum Net Mortgage Rate With respect to any adjustable rate Mortgage Loan and any date of determination, the Maximum Mortgage Rate minus the sum of (i) the Subservicing Fee Rate and (ii) the Servicing Fee Rate. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.