Reference Rate of Interest definition

Reference Rate of Interest means the one-year marginal cost of funds based lending rate (MCLR) of the State Bank of India (SBI) issued from time to time plus 325 basis points;
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Reference Rate of Interest means the reference rate of interest (or equivalent successor rate) set and announced from time to time by Xxxxxx Financial Corporation as a basis for determining the rate of interest on commercial borrowing, whether or not the Lender makes loans to other customers at, above or below said base rate of interest.
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Examples of Reference Rate of Interest in a sentence

  • Wherever in this License reference is made to interest due on sums in connection herewith, such sums shall bear interest from the date at a rate equal to the greater of the Reference Rate of Interest as announced by the Bank of America, N.T. & S.A. plus two percent (2%) as of the date such sum becomes due or the rate of interest required to avoid imputed interest pursuant to the provisions of the Internal Revenue Code of 1986, as amended.

  • If the same day of fixing the updated Reference Rate of Interest was agreed for a group of several subsequent interest periods, the actual day of fixing the updated Reference Rate of Interest for each of these interest periods shall be the second Business Day immediately preceding the first day for the first of such interest periods.

  • The Reference Rate of Interest shall be chosen from among the Reference Rates of Interest determined two Business Days before the start of the agreed interest period so that the difference between the agreed interest period and the fixed period of the selected Reference Rate of Interest is smallest.

  • For the calculation of the present value of the difference in interest, the Reference Rate of Interest fixed on the day of exercising the right to financial settlement shall be used.

  • The day of fixing the updated Reference Rate of Interest shall be the second Business Day immediately preceding the first day of the interest period.

  • The rolling of fixing of Reference Rate of Interest is based on the number of Business Days, by which the day of fixing of the Reference Rate of Interest updated for a certain interest period precedes the first day of that interest period.

  • For this reason, the anticipated day of fixing the updated Reference Rate of Interest in a Confirmation is not necessarily the actual day of fixing.

Related to Reference Rate of Interest

  • 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.

  • Reference Rate means the rate specified as such hereon.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.