Oftel Interest Rate definition

Oftel Interest Rate three eighths of one per cent (3/8%) above the London Inter Bank Offered Rate being the rate per annum of the offered quotation for sterling deposits for delivery on the due date for payment for a period of three months as displayed on page 3750 on the Telerate Service (or any other page that may replace page 3750 on that service) at or about 11 am London time on the due date of payment provided that if such a rate is not so displayed London Inter Bank Offered Rate shall mean the rate quoted by National Westminster Bank PLC to leading banks in the London interbank market at or about 11 am London time on the due date of payment for the offering of sterling deposits of a comparable amount for a period of three months. Such interest shall be calculated on a daily basis;
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Oftel Interest Rate means three eighths of one per cent (3/8%) above LIBOR. Such interest shall be calculated on a daily basis;
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Oftel Interest Rate three eighths of one per cent (3/8%) above the London Inter Bank Offered Rate being the rate per annum of the offered quotation for sterling deposits for delivery on the due date for payment for a period of three months as displayed on page 3750 on the Telerate Service (or any other page that may replace page 3750 on that service) at or about 11 am London time on the due date of payment provided that if such a rate is not so displayed London Inter Bank Offered Rate shall mean the rate quoted by National Westminster Bank PLC to leading banks in the London
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Examples of Oftel Interest Rate in a sentence

  • For the avoidance of doubt, and without prejudice to the application of the Oftel Interest Rate or Default Interest Rate as applicable in accordance with this Agreement, no Oftel Interest Rate or Default Interest Rate shall be payable in respect of any payment or credit adjustment made solely in accordance with this Clause 15.10.3.

  • A calculation of interest at the Oftel Interest Rate shall be calculated on a daily basis from and including the date of payment of the original amount to be adjusted up to and including the date on which the adjusted amount is paid.

  • For the avoidance of doubt, and without prejudice to the application of the Oftel Interest Rate or Default Interest Rate as applicable in accordance with this Agreement, no Oftel Interest Rate or Default Interest Rate shall be payable in respect of any payment or credit adjustment made solely in accordance with this Clause 15.19.3.

  • Any refund due to the Communications Provider shall be made as soon as reasonably practicable together with interest on such refund at the Oftel Interest Rate from the date of payment by the Communications Provider under paragraph 5.9 to the date of payment by BT to the Communications Provider.

  • Without prejudice to the provisions of paragraphs 5.1 to 5.5 (inclusive) a Party shall pay pursuant to paragraph 5.6 to the other the amount of the adjustment together with interest calculated at the Oftel Interest Rate calculated from the Due Date, to the date on which the adjustment is paid (both dates inclusive).

  • And I think the teachers explained it to us as if it was Prevent.’ (Group 8).

  • If a recalculation and adjustment is required pursuant to paragraphs 12 or 13 of the main body of this Agreement, the amount of such adjustment together with interest calculated at the Oftel Interest Rate shall be calculated and paid accordingly.

  • The burden for a claiming CP should not be so high as to prevent any alternative rate being awarded (a point made in the CPs response to the Oftel Interest Rate Determination).

  • We consistently perform well on both satisfaction surveys and complaints handling, and we have exceeded our performance commitment target for this year on SIM.But we do not simply want to be the best for customer service in the water sector; we want customers to be as satisfied with our service as they are with the top household names.

  • We consider that the SIA clearly envisages a situation such as that arising in the Dispute and sets out that where this occurs interest will be payable on any sums overpaid or underpaid at the Oftel Interest Rate.

Related to Oftel Interest Rate

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Note Interest Rate means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.