RATE AND PAYMENT definition

RATE AND PAYMENT. The unpaid principal balance hereof shall bear interest at that rate equal to two (2%) percent per annum in excess of that rate stated by the Bank to be its Prime Rate from time to time in effect, payable monthly in arrears commencing on May 1, 1997 and on the 1st day of each month thereafter. In addition to the aforementioned payments of interest, the Borrower shall pay to the Bank twenty (20) equal consecutive monthly payments of principal each in the amount of Thirty-Two Thousand ($32,000) Dollars commencing on May 1, 1997 and on the 1st day of each month thereafter together with a final payment of all outstanding principal, interest and/or related charges on December 31, 1998, which shall be the maturity day of this Note. Wherever any payment to be made under this Note is required to be paid on a date that is a Saturday, Sunday or public holiday, or the equivalent for banks under the laws of the State of New York, such payment may be made on the next succeeding business day, and such extension of time shall in such case be included in the computation of interest due. The Bank may charge any account of the Borrower for any payment due to the Bank hereunder. All payments due under the Note shall be made by automatic debit from an account maintained by the Borrower for such purpose at the Bank in which the Borrower shall maintain balances sufficient to pay each monthly payment due to the Bank under the Loan. In the event that the money maintained in such account is insufficient for any payment due under this Note, the Bank may charge any account of the Borrower for any payment due to the Bank under this Note. Payments shall be applied first to interest on unpaid principal balances to the date payment is received by the Bank and then to reduction of principal. If the interest rate is based on the Bank's announced Prime Rate, the interest rate shall change when the Prime Rate changes and nothing herein shall prevent the Bank from loaning money at less than Prime Rate on such terms and conditions as it deems advisable. Interest shall be calculated on a 360 day year and actual number of days elapsed. PREPAYMENT: Prepayment in whole or in part may be made at any time without penalty.
RATE AND PAYMENT. The Borrower shall pay said sum, or such lesser amount as may then be the aggregate unpaid principal balance of all loans made by the Bank to the Borrower hereunder, (each a "Loan" and collectively the "Loans") as set forth herein. The Borrower promises to pay interest (computed on the basis of a 360 day year for actual days elapsed) at said office on the unpaid principal amount hereof from time to time outstanding from the date hereof until the Maturity Date at a variable rate equal to the greater of (a) three hundred fifty (350) basis points in excess of LIBOR or (b) the Interest Rate Floor. Each change in the LIBOR shall effect a simultaneous and corresponding change in the interest rate hereunder without notice to the Borrower. Interest shall be payable monthly on the first day of each month, commencing on the first such day to occur after the date hereof, and upon payment in full of the unpaid principal amount hereof. This Note shall mature on May 30, 2012 (the “Maturity Date”), on which date all outstanding principal, interest and/or related charges due to the Bank hereunder shall be fully due and payable.
RATE AND PAYMENT. The unpaid principal balance hereof shall bear interest at a fixed annual rate of interest of Five and 67/1 00 percent (5.67%) (at times, the "Rate"), payable monthly in arrears, and repayment shall be from the date hereof up to March 1, 2018 (the "Maturity Date") as follows:

Examples of RATE AND PAYMENT in a sentence

  • However, under no circumstances will your ANNUAL PERCENTAGE RATE exceed 18.000% per annum or, go below 4.500% per annum at any time during the term of the Plan.MAXIMUM RATE AND PAYMENT EXAMPLE.Draw Period.

  • During that period, you would make 119 payments of $34.93 with a final balloon payment of $10,034.93.MAXIMUM RATE AND PAYMENT EXAMPLES.Plan V12.

  • This annual percentage rate could be reached at the time of the 67th payment.MAXIMUM RATE AND PAYMENT EXAMPLE - LOAN TO VALUES GREATERTHAN OR EQUAL TO 80.01%: If you had an outstanding balance of $10,000, the minimum payment at the maximum ANNUAL PERCENTAGE RATE of 12.0% would be $120.04.

  • IT IS PROVIDED AS AN EXAMPLE ONLY IF IT IS FOR AN ADJUSTABLE RATE MORTGAGE LOAN, IT ASSUMES HYPOTHETICAL INTEREST RATE AND PAYMENT CHANGES THAT MAY DIFFER FROM ACTUAL CHANGES.

  • The ANNUAL PERCENTAGE RATE will not go below 6.0% for Loan-to-Values greater than or equal to 80.01%.MAXIMUM RATE AND PAYMENT EXAMPLE - LOAN TO VALUES LESS THANOR EQUAL TO 80%: If you had an outstanding balance of $10,000, the minimum payment at the maximum ANNUAL PERCENTAGE RATE of 10.0% would be $107.48.

  • Ask us for the specific rate limitations that will apply to your credit line.MAXIMUM RATE AND PAYMENT EXAMPLES: If you had an outstanding balance of $10,000, the minimum payment at the maximum ANNUAL PERCENTAGE RATE of 14.0% would be $188.00.

  • MAXIMUM RATE AND PAYMENT EXAMPLE: If you had an outstanding balance of $10,000.00, the minimum payment at the maximum ANNUAL PERCENTAGE RATE of 18.000% would be $150.00.

  • Second Revised Volume No. 1 Rate and Payment v.1.0.0 Superseding v.0.0.0 5.6.3 RATE AND PAYMENT 1.

  • All reproductions by the City shall contain a credit to the Artist and a copyright notice substantially in the following form: “ (c), date.” The Artist shall use his/her best efforts to include a credit reading substantially "An original work commissioned by the City of Dublin, California" in any public showing under the Artist's control of reproductions of the Work.

  • You will be charged$50.00 at the time you exercise the option, which is a FINANCE CHARGE.MAXIMUM RATE AND PAYMENT EXAMPLES: If you had an outstanding balance of $10,000, the minimum payment at the maximum ANNUAL PERCENTAGE RATE of 18.0% would be $150.00.


More Definitions of RATE AND PAYMENT

RATE AND PAYMENT. The rate of interest payable on a Tranche A Advance for each Interest Period shall be the rate per annum determined by the Facility Agent to be the aggregate of:
RATE AND PAYMENT. The unpaid principal balance hereof shall bear interest at the Effective Interest Rate as hereinafter defined, payable monthly, in arrears, on the first day of each month. In addition to the foregoing payments of interest, the Borrower shall pay to the Bank twenty-three (23) equal consecutive monthly payments of principal, commencing on March 1, 2002 and on the first day of each month thereafter, each in the amount of Forty-One Thousand Six Hundred Sixty-Six and 67/100 ($41,666.67) Dollars, together with a final payment of all outstanding principal, interest and related charges due to the Bank hereunder on February 1, 2004, on which date this Note shall mature. The "Effective Interest Rate" as utilized herein shall be that rate equal to 300 basis points in excess of that rate of interest being paid by the Bank with respect to the Certificate of Deposit (the "CD") to be pledged to the Bank as collateral for this Note and as hereinafter referenced. The current Effective Interest Rate is four and 95/100 (4.95%) percent per annum, said rate to continue until such time as the CD shall mature or be terminated, and the Effective Interest Rate to thereafter be calculated utilizing the rate of interest paid by the Bank with respect to any replacement or replacements to the CD. The Effective Interest Rate shall change on each date upon which the interest rate applicable to the CD shall change (each a "Rate Change Date") provided, however, that the Effective Interest Rate shall not exceed a rate equal to one (1%) percent in excess of the Bank's Prime Rate in effect on each Rate Change Date.
RATE AND PAYMENT. The Borrower shall pay said sum, or such lesser amount as may then be the aggregate unpaid principal balance of all loans made by the Bank to the Borrower hereunder, (each a "Loan" and collectively the "Loans") as set forth herein. Advances to the Borrower hereunder shall be available on a revolving basis from the date hereof until August 1, 2009 (the “Revolving Line Maturity Date”) and shall be utilized by the Borrower to finance working capital needs and acquisition of 1725758 Ontario Inc. d/b/a The Optical Group and assets of Corowl Optical Credit Services, Inc. This Note shall mature on the Revolving Line Maturity date, after which date no further Loans shall be available and on which date all outstanding principal, interest and/or related charges due to the Bank hereunder shall be due and payable.
RATE AND PAYMENT. The unpaid principal balance hereof shall bear interest, and repayment shall be, from the date hereof up to March 1, 2018 (the "Maturity Date"), as follows:

Related to RATE AND PAYMENT

  • Repayment Price means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

  • Transaction Notional Amount means (A) in respect of any Transaction that is a cross currency hedge, the Base Currency Equivalent of the Currency Amount applicable to Party A’s payment obligations and (B) in respect of any other Transaction, the Base Currency Equivalent of the Notional Amount.

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Prepayment Price Has the meaning specified in Section 6.02(b) of the Indenture.

  • First Reset Rate of Interest means, in respect of the First Reset Period and subject to Condition 5.2(b), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the Reference Rate and the First Margin;

  • Rate of Interest means the rate of interest payable from time to time in respect of this Note and that is either specified or calculated in accordance with the provisions hereon.

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Note or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Note and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Floating Rate Interest Payment Date has the meaning provided in Section 2.7(b).

  • Reset Interest Period means each period from (and including) any Reset Date and ending on (but excluding) the next Reset Date.

  • Bund Rate means, with respect to any relevant date, the rate per annum equal to the equivalent yield to maturity as of such date of the Comparable German Bund Issue, assuming a price for the Comparable German Bund Issue (expressed as a percentage of its principal amount) equal to the Comparable German Bund Price for such relevant date, where:

  • Rate Determination Notice has the meaning specified in Section 3.07(g).

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

  • Maturity Payment Amount shall have the meaning set forth in Section 2 of this Annex A.

  • Additional Amount Payment means a payment to a Holder of MuniFund Term Preferred Shares of an amount which, when taken together with the aggregate amount of Taxable Allocations made to such Holder to which such Additional Amount Payment relates, would cause such Holder’s dividends in dollars (after federal income tax consequences) from the aggregate of such Taxable Allocations and the related Additional Amount Payment to be equal to the dollar amount of the dividends that would have been received by such Holder if the amount of such aggregate Taxable Allocations would have been excludable (for federal income tax purposes) from the gross income of such Holder. Such Additional Amount Payment shall be calculated (i) without A-1 consideration being given to the time value of money; (ii) assuming that no Holder of MuniFund Term Preferred Shares is subject to the federal alternative minimum tax with respect to dividends received from the Fund; and (iii) assuming that each Taxable Allocation and each Additional Amount Payment (except to the extent such Additional Amount Payment is designated as an exempt-interest dividend under Section 852(b)(5) of the Code) would be taxable in the hands of each Holder of MuniFund Term Preferred Shares at the maximum marginal regular federal individual income tax rate applicable to ordinary income or net capital gains, as applicable, or the maximum marginal regular federal corporate income tax rate applicable to ordinary income or net capital gains, as applicable, whichever is greater, in effect at the time such Additional Amount Payment is paid.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • Prepayment Rate means the bond equivalent yield (in the secondary market) on the United States Treasury Security that as of the Prepayment Rate Determination Date has a remaining term to maturity closest to, but not exceeding, the remaining term to the Maturity Date, as most recently published in the "Treasury Bonds, Notes and Bills" section in The Wall Street Journal as of the date of the related tender of the payment. If more than one issue of United States Treasury Securities has the remaining term to the Maturity Date referred to above, the "Prepayment Rate" shall be the yield on the United States Treasury Security most recently issued as of such date. If the publication of the Prepayment Rate in The Wall Street Journal is discontinued, Lender shall determine the Prepayment Rate on the basis of "Statistical Release H.15(519), Selected Interest Rates," or any successor publication, published by the Board of Governors of the Federal Reserve System, or on the basis of such other publication or statistical guide as Lender may reasonably select. "PREPAYMENT RATE DETERMINATION DATE" shall mean the date which is five (5) Business Days prior to the prepayment date.

  • Swap Notional Amount With respect to any Distribution Date is the amount set forth on Schedule II attached hereto with respect to such Distribution Date.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Repayment Amount means the amount to be paid by the Recipient to the OPWC on each payment date of each year during the Term pursuant to the terms and conditions of the Note.

  • Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;

  • Interest Reset Date means, with respect to any Interest Period with respect to the Floating Rate Notes, the first day of such Interest Period; provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed to the next succeeding day that is a Business Day, except that if that Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day.

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period and subject to Condition 4(b)(ii), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Discount Price means the product of (i) the price per share of Capital Stock sold in an Equity Financing and (ii) 100% less the Discount.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.