Contract Rate means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable.
Wage Rate refers to an Employee’s hourly rate of pay reflected by the pay grade of her position and her step within that grade, as set out in the Wage Rate grid in Appendix II.
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.
Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.
Heat Rate means the quantity of BTU’s consumed to produce a kilowatt-hour of energy, calculated as follows:
Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.
Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.
Overdraft Rate means the per annum rate of interest, regardless of compounding frequency, designated by the Financial Institution as its “Overdraft Rate” from time to time.
Maximum Net Mortgage Rate As to any Mortgage Loan and any date of determination, the Maximum Mortgage Rate for such Mortgage Loan minus the per annum rate at which the Servicing Fee is calculated.
Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.
Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.
Discount Net Mortgage Rate As defined in the Series Supplement.
Net Loan 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 then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.
Mortgage Rate The annual rate of interest borne by a Mortgage Note from time to time.
Net 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 then applicable Mortgage Rate for such Mortgage Loan minus the Servicing Fee Rate.
FX Rate means the “noon exchange rate” as reported by the Bank of Canada on any relevant date or if applicable, the rate calculated by the Calculation Agent, between the Canadian dollar and the foreign currencies into which some Reference Shares are denominated, expressed as the amount of Canadian dollars per one unit of foreign currency.
Prevailing wage rate means the rate, amount, or level of wages, salaries, benefits, and other
Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.
Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.
Rate means the Adjusted LIBO Rate and the Alternate Base Rate.
Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.
APR means, with respect to any Receivable, the annual percentage rate of interest stated in such Receivable.
Indirect Cost Rate means a device for determining in a reasonable manner the proportion of indirect costs each Program should bear. It is a ratio (expressed as a percentage) of the Indirect Costs to a Direct Cost base. If reimbursement of Indirect Costs is allowable under an Award, Grantor will not reimburse those Indirect Costs unless Grantee has established an Indirect Cost Rate covering the applicable activities and period of time, unless Indirect Costs are reimbursed at a fixed rate.
Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.