National Commercial Rate definition

National Commercial Rate means a floating annual rate of interest that is designated from time to time by the Bank as the National Commercial Rate and is used by the Bank as a reference base with respect to different interest rates charged to borrowers. The Bank's determination and designation from time to time of the National Commercial Rate shall not in any way preclude the Bank from making loans to other borrowers at a rate which is higher or lower than or different from the National Commercial Rate.
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National Commercial Rate is used by the Agent as a reference rate with respect to different interest rates charged to borrowers. The Agent's determination and designation from time to time of the reference rate shall not in any way preclude the Agent from making loans to other borrowers at a rate that is higher or lower than or different from the reference rate.
Sample 1
National Commercial Rate means a floating annual rate of interest designated from time to time by Bank as its "National Commercial Rate" and used by Bank as a reference base with respect to different rates of interest charged to borrowers. The rate of interest payable by Borrower under this Agreement and the Notes shall change simultaneously and automatically upon Bank's designation of any change in such referenced rate. Bank's determination and designation of such referenced rate from time to time shall not in any way preclude Bank from making loans to other borrowers at rates which are higher or lower than, or different from, such referenced rate.
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Examples of National Commercial Rate in a sentence

  • Additional contributions under this Section 7.3 shall constitute loans to the Company by the contributing Member at an interest rate equal to 2% over the Wilmington Trust Company National Commercial Rate at the end of each month, and shall be repaid by the Company within sixty (60) days from the date of its advance.

  • The Contributing Members shall be entitled to treat the amounts contributed pursuant to this section as a loan from the Contributing Members bearing interest at a rate equal to 2% over the Wilmington Trust Company National Commercial Rate in effect when the loan is made, secured by the Delinquent Member's interest in the Company.

  • Effective as of the date of the merger of Meridian Bank into CoreStates Bank, N.A., all references in the Loan Documents to Meridian Bank shall be deemed to refer to CoreStates Bank, N.A., and all references in the Loan Documents to the National Commercial Rate shall be deemed to refer to the "Prime Rate", as defined in this Second Amended and Restated Loan and Security Agreement.

  • Maker also promises to pay interest on the unpaid principal balance of this Note at an annual rate equal to Payee's National Commercial Rate as hereinafter defined plus one percent (1.0%).

  • The rate of interest payable on any such unpaid amount shall change as of the opening of business on each day on which the National Commercial Rate changes.

  • The revolving loan has an interest rate of CoreStates Bank's National Commercial Rate plus one and one-quarter percent (1.25%).

  • If any amount payable by Borrower under Sections 2.05(B), 4.01(B), 4.01(C), 5.02 and 5.03 hereof is not paid when due, Borrower shall pay to Bank on demand interest on such unpaid amount from the date on which payment was due to the date of payment in full at an annual rate equal to the sum of the National Commercial Rate plus 2%.

  • From the maturity of the obligations evidenced by the Notes, as well as upon the occurrence of an Event of Default, until final payment of all sums owed under this Agreement, the Notes or any other document or instrument pertaining hereto, the outstanding principal balance and all other sums due hereunder and thereunder shall bear interest at the rate of the National Commercial Rate plus 5% per annum ("Default Rate").

Related to National Commercial Rate

  • Commercial sex act means any sex act on account of which anything of value is given to or received by any person.

  • Commercial Service means service to Customers engaged primarily in the sale of goods or services including institutions and local, sate and federal government agencies for uses other than those involving manufacturing or electric power generation.

  • Commercial plan means a subcontracting plan (including goals) that covers the offeror’s fiscal year and that applies to the entire production of commercial items sold by either the entire company or a portion thereof (e.g., division, plant, or product line).

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • National Ambient Air Quality Standards or “NAAQS” means national ambient air quality standards that are promulgated pursuant to Section 109 of the Act, 42 U.S.C. § 7409.

  • Commences Commercial Service means the date upon which a Capital Improvement is first put into or commences commercial service by a Group Member following completion of construction, replacement, improvement or expansion and testing, as applicable.

  • Common Reporting Standard means the standard for automatic exchange of financial account information in tax matters (which includes the Commentaries), developed by the OECD, with G20 countries;

  • Commencement of Commercial Production means the first occurrence of Commercial Production in an Area.

  • Scheduled Commercial Operation Date shall have the meaning ascribed to it in Clause 5.4.1;

  • Geneva Convention means the Convention of 28 July 1951 relating to the status of refugees, as amended by the New York Protocol of 31 January 1967;