Permitted Rate definition

Permitted Rate. The lesser of (a) two percent (2%) per annum over the Prime Rate or (b) the maximum non-usurious interest rate permitted by applicable law from time to time in effect.
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Permitted Rate means the lesser of (i) the prime rate of interest charged from time to time by large U.S. money center banks plus two percent (2%) per annum or (ii) the maximum non-usurious interest rate permitted by applicable law from time to time in effect.
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Permitted Rate. As used herein, the term "Permitted Rate" shall mean the interest rate that is equal to sixteen percent (16%) per annum, but if the maximum lawful rate of interest that may be charged by Landlord shall be ascertainable and shall be less than sixteen percent (16%) per annum, the term "Permitted Rate" shall mean the rate of interest that is equal to such maximum lawful rate of interest.
Sample 1

Examples of Permitted Rate in a sentence

  • Eff.Comments7.6 /b PM/MMscf 100 lb NOx/MMscf 84 lb CO/MMscf5.5 lb VOC/MMscf0.6 lb SO2/MMscf402Current Permitted Rate of Bromine HCl and Cl2 to be emitted intrace amountsN/AScrubber95% for BR2403Testing HCl and Cl2 to be emitted intrace amounts5.4 E-4 lbs Br2/hr5.4 E-4 lbs HBr/hrN/AN/AEst.

  • After reviewing TWE’s Rate Filing, the State finds that TWE’s calculations are accurate, and that accordingly, there are no adjustments necessary to TWE’s proposed monthly Maximum Permitted Rate for the Projected Period.

  • In the event any provision hereof would result in the rate of interest payable hereunder being in excess of the Maximum Permitted Rate, the amount of interest required to be paid hereunder shall automatically be reduced to eliminate such excess; provided, however, that any subsequent increase in the Maximum Permitted Rate shall be retroactively effective to the Redemption Date to the extent permitted by law.

  • The Accounting Department shall then:(a) Send to the creditor the allowable amount garnished from the employee’s paycheck following each payroll period.

  • Similarly to the photoinduced interdiffusion, the ion beam induced mixing also was accompanied with optical bleaching and volume expansion of the samples.

  • In the event any provision hereof would result in the rate of interest payable hereunder being in excess of the Maximum Permitted Rate, the amount of interest required to be paid hereunder shall automatically be reduced to eliminate such excess; provided, however, that any subsequent increase in the Maximum Permitted Rate shall be retroactively effective to the applicable Redemption Date to the extent permitted by law.

  • A Permitted Conversion (a "Permitted Conversion") is a Conversion that is not a Permitted Rate Conversion (as defined below) and that satisfies the following conditions as at the relevant MM Test Date: (a) no Enforcement Notice has been served in respect of the Notes; (b) the aggregate current principal balance of those Mortgages which are 90 days or more in arrears does not exceed 10.0 per cent.

  • Maximum Permitted Rate Change %With Only This Variance (Change At Max Per Template) Overall Maximum Permitted Rate Change %For All Variances 15.35% Page 11bSTATE OF CALIFORNIA Company Name:DEPARTMENT OF INSURANCE (CDI) Line of Insurance:#REF! #REF! Forms Insurers who wish to use a new or replacement form in connection with a new or existing program must furnish the following information and documentation for our review.

  • Maximum Permitted Rate Change %Excluding Variance (Change At Max Per Template) #REF! 1.

  • Please bear in mind that there will also be Network Agreement-related Rules which individuals Sites/Shippers will be obliged to adhere to.UNC TPD J 3.10.5 - this section states that National Grid are not obliged to provide gas at an offtake which is above the Maximum Permitted Rate or exceeding the Flat capacity entitlements.


More Definitions of Permitted Rate

Permitted Rate means the rate charged to MillerCoors for City Water determined using the formula set forth on Exhibit D.
Sample 1
Permitted Rate means the lesser of (i) the prime rate of interest charged from time to time by large United States money center banks plus four percent (4%) per annum or (ii) the maximum non-usurious interest rate permitted by applicable law from time to time in effect.
Sample 1
Permitted Rate means the rate of 6.39% per annum, being the Intended Rate effective as of and from May 1, 2013; provided that the rate of interest shall be adjusted on May 1, 2014 and each year thereafter if such rate, is determined as of such date, outside of a band of tolerance defined as 0.25% above or below the Intended Rate (the “Band of Tolerance”). In the event the interest rate does fall outside the Band of Tolerance, the Permitted Rate shall be adjusted effective immediately to the Intended Rate, which shall continue until such time as that adjusted Permitted Rate falls outside of the Band of Tolerance. For the sake of clarity, under no circumstance shall the Permitted Rate be adjusted if the result is to produce a rate of interest greater than the Market Rate or less than the deemed Long-Term debt rate for Cost of Service applications as set by the Ontario Energy Board from time-to-time.” 3. A new definition shall be added to Schedule “A” of the Promissory Note as follows:
Sample 1
Permitted Rate means as of any date of determination, a rate per annum equal to: (a) the rate on Indebtedness under a bona fide financing arrangement with an unaffiliated third party incurred by Parent or any Affiliate of Parent (as applicable) the proceeds of which are directly used to provide the Indebtedness to the Company pursuant to Section 5.3 hereof or to Vegas pursuant to Section 2.4 of the Shareholders Agreement; (b) if Parent or such Affiliate does not use the proceeds of Indebtedness to directly provide Indebtedness to the Company or Vegas, the Cost of Funds; or (c) if no such bona fide financing arrangements exist, then a rate that is mutually agreed upon by the parties. In the case of clauses (a) or (b) above, the Company shall provide to the Class B Member a written statement, certified by the Chief Financial Officer of Parent, describing in reasonable detail how such rate was determined.
Sample 1
Permitted Rate means the rate of interest that is equal to such maximum lawful rate of interest.
Sample 1

Related to Permitted Rate

  • Specified Rate means, on any day, the sum of:

  • Permitted Loan shall have the meaning set forth in Section 4.02(a).

  • Permitted Loans means:

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Permitted Ratio Debt means Indebtedness of the Lead Borrower or any of its Restricted Subsidiaries; provided that (a) such Indebtedness is either (x) senior unsecured Indebtedness ranking pari passu in right of payment to the Obligations or (y) subordinated in right of payment to the Obligations, (b) such Indebtedness does not mature prior to the date that is 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (c) such Indebtedness has no scheduled amortization or scheduled payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (other than customary offers to repurchase upon a change of control, asset sale or casualty event and customary acceleration rights after an event of default) prior to the date that is 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (d) no Default or Event of Default shall then exist or result therefrom, (e) immediately after giving effect thereto and to the use of the proceeds thereof, the Lead Borrower shall be in Pro Forma Compliance with a Total Net Leverage Ratio of 6.00:1.00 as of the most recently ended Test Period for which financial statements have been delivered pursuant to Sections 5.04(a) and 5.04(b), (f) the covenants, events of default, guarantees and other terms of such Indebtedness are customary for similar Indebtedness in light of then-prevailing market conditions and in any event, when taken as a whole (other than interest rate and redemption premiums), are not more restrictive to the Lead Borrower and its Restricted Subsidiaries than those set forth in this Agreement (provided that a certificate of a Responsible Officer of the Lead Borrower delivered to the Administrative Agent in good faith at least five (5) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Lead Borrower has determined in good faith that such terms and conditions satisfy the requirement set out in the foregoing clause (f), shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent provides notice to the Lead Borrower of an objection during such five (5) Business Day period (including a reasonable description of the basis upon which it objects)), (g) in respect of which no Restricted Subsidiary of the Lead Borrower that is not a Guarantor under the Loan Documents is an obligor, (h) if such Indebtedness is subordinated, (x) the subordination provisions shall be reasonably satisfactory to the Administrative Agent and (y) the Term Loan Facilities shall have been, and while the Term Loan Facilities remain outstanding no other Indebtedness is or is permitted to be, designated as “designated senior debt” or its equivalent in respect of such Indebtedness and (i) the Lead Borrower shall have delivered to the Administrative Agent an officer’s certificate executed by a Responsible Officer of the Lead Borrower certifying to such officer’s knowledge, compliance with the requirements of this definition, including reasonably detailed calculations required to demonstrate compliance with the Total Net Leverage Ratio required by clause (e) above.

  • Permitted Additional Debt means unsecured Indebtedness, issued by the Borrower or a Guarantor, (a) the terms of which (i) do not provide for any scheduled repayment, mandatory redemption or sinking fund obligation prior to the Final Maturity Date (other than customary offers to purchase upon a change of control, asset sale or event of loss and customary acceleration rights after an event of default) and (ii) to the extent the same are subordinated, provide for customary subordination to the Obligations under the Credit Documents, (b) the covenants, events of default, guarantees and other terms of which (other than interest rate and redemption premiums), taken as a whole, are not more restrictive to the Borrower and the Restricted Subsidiaries than those herein (or to the extent such Permitted Additional Debt constitutes refinancing Indebtedness of the (x) Senior Subordinated Notes, those applicable to the Senior Subordinated Notes being so refinanced or (y) the Senior Notes, those applicable to the Senior Notes being refinanced); provided that a certificate of an Authorized Officer of the Borrower is delivered to the Administrative Agent at least five Business Days (or such shorter period as the Administrative Agent may reasonably agree) prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Borrower within such period that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees) and (c) of which no Subsidiary of the Borrower (other than a Guarantor or any guarantor of the Indebtedness being refinanced by such Permitted Additional Debt, if applicable) is an obligor.

  • Permitted Payments has the meaning specified in Section 7.06(b).

  • Permitted Payment as defined in Subsection 8.2(b).

  • Permitted Restricted Payments means any of the following Restricted Payments made by:

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Refinancing Date The date on which a Current Mortgage Loan or Mortgage Loan is refinanced by Seller or an affiliate thereof.

  • Other Permitted Indebtedness means (a) accrued expenses and current trade accounts payable incurred in the ordinary course of the Borrower’s business which are not overdue for a period of more than 90 days or which are being contested in good faith by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions in the ordinary course of the Borrower’s business in connection with its securities transactions, derivatives transactions, reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Borrower’s Investment Policies (after giving effect to any Permitted Policy Amendments), provided that such Indebtedness does not arise in connection with the purchase of Portfolio Investments other than Cash Equivalents and U.S. Government Securities and (c) Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Permitted Overadvance means an Overadvance made by the Agent, in its discretion, which:

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;

  • Permitted Asset Dispositions means the following Asset Dispositions, provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition:

  • Required Rate means (a) 8.30%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 7.80%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Repo Rate on any day means the highest interest rate available to a Lender from investment in overnight repurchase agreements.

  • Permitted Investment means an Investment by the Company or any Restricted Subsidiary in:

  • 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;

  • Blended Rate means, with respect to any Taxable Year, the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the maximum effective rate in any state or local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such jurisdiction in such Taxable Year. As an illustration of the calculation of Blended Rate for a Taxable Year, if the Corporate Taxpayer solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate tax rates in effect in such states in such Taxable Year are 6% and 5%, respectively and the apportionment factors for such states in such Taxable Year are 60% and 40%, respectively, then the Blended Rate for such Taxable Year is equal to 5.6% (i.e., 6% times 60% plus 5% times 40%).

  • Permitted Obligations mean (i) nonspeculative Hedging Obligations of any Person and its Subsidiaries arising in the ordinary course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or currency exchange rates and which in the case of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the applicable obligations being hedged and (ii) Commodity Trading Obligations. For the avoidance of doubt, such transactions shall be considered nonspeculative if undertaken in conformance with FE’s Corporate Risk Management Policy then in effect, as approved by FE’s Audit Committee, together with the Approved Business Unit Risk Management Policies referenced thereunder.

  • Refinancing Revolving Loans has the meaning assigned to such term in Section 2.26(a).