Monthly Interest Rate definition

Monthly Interest Rate or “Interest Rate” means the monthly revolving rate of interest used for computing the Monthly Interest Charge, as reflected in the Application Form, as may be amended from time to time.

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Monthly Interest Rate means the prevailing Interest Rate for Ready Credit accounts that is charged to any or all of the following: (i) on fees and charges , including the interest on the said fees and charges, if I opt to pay the Minimum Amount Due per month, (ii) on the Total Amount Due (less the interest component of the unpaid billed installment amounts of my Installment Loan(s)) when my Ready Credit account is in default at 60 days past due; and (iii) on my Cash Advance transactions which is charged starting on the date of the transactions. Such interest is charged based on the daily outstanding balance on my Ready Credit account, which may include unpaid Interest Charges from my previous statements (less the interest component of any outstanding Monthly Installments of my Installment Loan(s)). Such interest shall be compounded daily and the interest will continue to accrue until full payment of Total Amount Due plus accrued interest.

Monthly Interest Rate means interest on all amounts due under this Agreement (including, without limitation, Debt Service, Accrued Interest and the Exit Fee) at a rate equal to (a) LIBOR plus 5.20% with respect to all payments or other amounts due under this Agreement from the date hereof through and including the Payment Date occurring on February 1, 2011 and (b) LIBOR plus 6.50% with respect to all payments or other amounts due under this Agreement after February 1, 2011.

Examples of Monthly Interest Rate in a sentence

• Upon the agreement of the parties as to the correction, if the corrected Applicable Interest Rate, the Monthly Interest Rate or Accrued Interest represents an increase in the applicable monthly (or other) payment, Borrowers shall, within ten (10) days after receipt of notice from Lender, pay to Lender the corrected amount.

• If, at any time, Lender or Borrowers determine that Lender has miscalculated the Applicable Interest Rate, the Monthly Interest Rate or Accrued Interest (whether because of a miscalculation of LIBOR or otherwise), such party shall notify the other of the necessary correction.

• Upon the agreement of the parties as to the correction, if the corrected Applicable Interest Rate, Monthly Interest Rate or Accrued Interest (if such Accrued Interest shall have been paid) represents an overpayment by Borrowers to Lender and no Event of Default then exists, Lender shall promptly refund the overpayment to Borrowers or, at Borrowers’ option, credit such amounts against Borrowers’ payment next due hereunder.

• Interest payable on the Loan will be computed by (i) dividing the Annual Interest Rate by twelve to obtain the monthly interest rate (the "Monthly Interest Rate"), (ii) dividing the Monthly Interest Rate by the actual number of days elapsed in the statement period during which interest accrues and (iii) multiplying (ii) above by the principal balance of the Loan outstanding at the beginning of the statement period.

• Monthly Interest Rate _____ %, the benchmark interest rate shall be adjusted from the second day after the adjustment date of the People’s Bank of China.

More Definitions of Monthly Interest Rate

Monthly Interest Rate means interest calculated on the Outstanding Principal Balance of the Loan at a rate equal to (a) LIBOR plus 8.75% or, as applicable, the Prime Rate plus the Prime Rate Spread.

Monthly Interest Rate. (a) the rate of interest per annum determined by the Remarketing Agent, on the Interest Rate Determination Date immediately preceding the applicable Interest Rate Adjustment Date, to be the lowest interest rate for the Interest Rate Period commencing on the applicable Interest Rate Adjustment Date to and including the day preceding the first Business Day of the next month, in the judgment of the Remarketing Agent (taking into consideration current transactions and comparable securities with which the Remarketing Agent is involved or of which it is aware and prevailing financial market conditions) at which, as of such Interest Rate Determination Date, the Bonds could be remarketed at par, plus the accrued interest (if any) on the Interest Rate Adjustment Date for that Interest Rate Period or (b) in the event that the Remarketing Agent has been removed or has resigned and no successor has been appointed, or the Remarketing Agent has failed to determine the Monthly Interest Rate for whatever reason, or the Monthly Interest Rate cannot be determined pursuant to clause (a) for whatever reason, the interest rate then in effect with respect to the Bonds, without adjustment; provided that in no event shall the Monthly Interest Rate exceed the Maximum Rate.

Monthly Interest Rate means the interest rate applicable to the 95 Day Notice Account set by the Bank each month;

Monthly Interest Rate means the interest rate specified in division

Monthly Interest Rate means (a) the rate of interest per annum determined by the Remarketing Agent, on the Interest Rate Determination Date immediately preceding the applicable Interest Rate Adjustment Date, to be the lowest interest rate for the Interest Rate Period commencing on the applicable Interest Rate Adjustment Date to and including the day preceding the first Business Day of the next month or, in the case of the Interest Rate Period commencing on the Closing Date, the first Business Day of the month which is at least twenty days after the Closing Date, in the judgment of the Remarketing Agent (taking into consideration current transactions and comparable securities with which the Remarketing Agent is involved or of which it is aware and prevailing financial market conditions) at which, as of such Interest Rate Determination Date, the Bonds could be remarketed at par, plus accrued interest (if any) on the Interest Rate Adjustment Date for that Interest Rate Period or (b) in the event that the Remarketing Agent has been removed or has resigned and no successor has been appointed, or the Remarketing Agent has failed to determine the Monthly Interest Rate for whatever reason, or the Monthly Interest Rate cannot be determined pursuant to clause (a) for whatever reason, the interest rate then in effect with respect to the Bonds, without adjustment; provided that in no event shall the Monthly Interest Rate exceed the Maximum Rate.

Monthly Interest Rate. One Percent (1.0%). Interest accruing under this Note shall be computed on the basis of a 360-day year and shall be assessed for the actual number of days elapsed.

Monthly Interest Rate means the interest rate on Bonds of a Series --------------------- established monthly in accordance with Section 2.03(a)(i) hereof.