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 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.
Sample 1
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

Examples of National Commercial Rate in a sentence

  • 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.

  • 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.

  • 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.

  • 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%.

  • 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.

  • 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").

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

Related to National Commercial Rate

  • national competent authority means any national competent authority as defined in Article 2(2) of Regulation (EU) No 1024/2013;

  • National Commissioner means the National Commissioner of the South African Police Service, appointed in terms of section 207(1) of the Constitution;

  • 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 water service provided by the water utility that the customer uses in the promotion of a business or business product that is a source of revenue or income to the customer or others using the premises.

  • Community rate means a rate of payment based on a per member per month capitation rate or its equivalent that applies to a combination of the subscriber groups for a comprehensive medical plan carrier. References in this subchapter to ‘‘a combination of cost and price analysis’’ relating to the ap- plicability of policy and contract clauses refer to comprehensive medical plan carriers using community rates.

  • 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 or “IFRS” means the accounting standards issued or endorsed by the International Accounting Standards Board.

  • International Classification means the Classification established under the Locarno Agreement Establishing an International Classification for Industrial Designs;

  • 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.

  • Common Reporting Standard (CRS) means the Standard for Automatic Exchange of Financial Account Information (“AEOFAI”) in Tax Matters and was developed in response to the G20 request and approved by the Organisation for Economic Co-operation and Development (OECD) Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.

  • Adjusted community rate means the rating method used to

  • Publication NPC-232 means the Ministry Publication NPC-232, "Sound Level Limits for Stationary Sources in Class 3 Areas (Rural)", October, 1995 as amended.

  • regional council means a regional council established under section 2 of the Regional Councils Act, 1992 (Act 22 of 1992);

  • 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.

  • National Council means the National Bargaining Council for the Clothing Manufacturing Industry, registered in terms of the Act;

  • Scheduled Commercial Bank means any bank included in the second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934).

  • 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;

  • Publication NPC-233 means the Ministry Publication NPC-233, "Information to be Submitted for Approval of Stationary Sources of Sound", October, 1995 as amended.

  • international carriage means any carriage in which, according to the contract of carriage, the place of departure and the place of destination are situated in two different States, or in a single State if, according to the contract of carriage or the scheduled itinerary, there is an intermediate port of call in another State;

  • Commencement of Commercial Production means: (i) if a mill is located on the Property, the last day of a period of 40 consecutive days in which, for not less than 30 days, the mill processed ore from the Property at 60% of its rated concentrating capacity; or (ii) if a mill is not located on the Property, the last day of a period of 30 consecutive days during which ore has been shipped from the Property on a reasonably regular basis for the purpose of earning revenues, but any period of time during which ore or concentrate is shipped from the Property for testing purposes, or during which milling operations are undertaken as initial tune-up, shall not be taken into account in determining the date of Commencement of Commercial Production;

  • 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;

  • international voyage means a voyage from a country to which the present Convention applies to a port outside such country, or conversely.

  • State minimum standards means minimum requirements

  • Generally accepted auditing standards means Canadian Generally Accepted Auditing Standards as adopted by the Canadian Institute of Chartered Accountants applicable as of the date on which such record is kept or required to be kept in accordance with such standards.

  • CIC Protection Period means the two-year period beginning on the date of a Change in Control and ending on the day before the second annual anniversary of the date of the Change in Control.