NORMAL INTEREST RATE definition
NORMAL INTEREST RATE. The rate of interest applicable to an Advance for all or any part of a particular Interest Period relating to that Advance shall be the rate per annum (as determined by the Agent) equal to the sum of the Margin and the arithmetic mean (rounded up, if necessary, to the next 1/16 per cent.) of the respective rates (as quoted to the Agent) at which each Reference Bank is offering deposits in US Dollars for that Interest Period in an amount comparable to the Advance to which that Interest Period relates to prime banks in the Singapore inter-bank market at or about 11 a.m. on the second Business Day before the first day of that Interest Period. If any Reference Bank does not supply any quotation required from it for the purpose of this Agreement, the relevant arithmetic mean (rounded up, if necessary, to the next 1/16 per cent.) shall be determined on the basis of the quotations supplied by the remaining Reference Banks.
NORMAL INTEREST RATE has the meaning given to in it clause 3.3 (Calculation of Interest);
NORMAL INTEREST RATE. The rate of interest applicable to an Advance for all or any part of its Term shall be the rate per annum (as determined by the Agent) equal to the sum of:
Examples of NORMAL INTEREST RATE in a sentence
THE NORMAL INTEREST RATE WILL THEN BE RE-APPLIED AS SOON AS CIRCUMSTANCES ALLOW AND THE EURIBOR RATE CAN ONCE MORE BE CALCULATED AND PUBLISHED.
THE SURROGATE INTEREST RATE WILL BE APPLIED FOR AS LONG AS THE CIRCUMSTANCES THAT OCCASIONED ITS USE PERSIST AND A RETURN TO THE NORMAL INTEREST RATE WILL THEN OCCUR AS SOON AS THE CIRCUMSTANCES ALLOW AND THE EURIBOR RATE CAN ONCE MORE BE CALCULATED AND PUBLISHED.
More Definitions of NORMAL INTEREST RATE
NORMAL INTEREST RATE. The rate of interest applicable to the Loan for all or any part of a particular Interest Period relating to the Loan shall be the rate per annum (as determined by the Agent) which is the sum of the Loan Margin and SIBOR (as determined by the Agent in the manner set out in Clause 1(B)) applicable to that Interest Period. Subject as otherwise provided in this Agreement, on the last day of each Interest Period relating to the Loan, the Borrower shall pay to the Agent the unpaid interest accrued during that Interest Period on the Loan at the rate applicable to that Interest Period.
NORMAL INTEREST RATE. The rate of interest applicable to an Advance for all or any part of a particular Interest Period relating to that Advance shall be the rate per annum (as determined by the Agent) equal to the sum of the Margin and the arithmetic mean (rounded up, if necessary, to the next 1/16 per cent.) of the respective rates which are quoted as of 11 a.m. on the second Business 25 Day before the first day of that Interest Period on the page "LIBO" of the Reut▇▇ ▇▇▇itor Money Rates Service (or such other page as may replace the LIBO page for the purpose of displaying London inter-bank US Dollar offered rates of leading reference banks) as being the interest rates offered in the London inter-bank market for US Dollar deposits for the same period as that Interest Period (or, if the periods are not the same, such period as the Agent determines to be substantially the same) but:-
(1) if only two or three such offered quotations appear, the relevant arithmetic mean (rounded as mentioned above) shall be determined on the basis of those offered quotations; and
(2) if no, or only one, such offered quotation appears, the relevant arithmetic mean (rounded as mentioned above) shall be determined on the basis of the respective rates (as quoted to the Agent at its request) at which each Reference Bank is offering US Dollar deposits for that Interest Period in an amount comparable to the Advance to which that Interest Period relates to prime banks in the London inter-bank market at or about 11 a.m. on the second Business Day before the first day of that Interest Period. If any Reference Bank does not supply any quotation required from it for the purpose of this Agreement, the relevant arithmetic mean (rounded up, if necessary, to the next 1/16 per cent.) shall be determined on the basis of the quotations supplied by the remaining Reference Banks.
NORMAL INTEREST RATE. The rate of interest applicable to an Advance for each Interest Period applicable to that Advance shall be the rate per annum (as determined by the Agent) equal to the sum of:
(a) the Margin as applicable for that Advance; and
(b) the Mandatory Costs (as notified to the Agent by the Lenders) for that, or (as the case may be) that part of that, Interest Period if applicable; and
(c) EURIBOR for that Interest Period unless market practice dictates otherwise.
NORMAL INTEREST RATE. Subject to Clause 10, the rate of interest applicable to each Advance for a particular Interest Period shall be the Applicable Rate.