Relevant Rate of Interest definition

Relevant Rate of Interest means the rate of interest which is two per cent. (2%) per annum above the rate quoted by Chemical Bank as its prime per annum rate for the period in respect of which the Relevant Rate of Interest falls to be determined;
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Relevant Rate of Interest means in respect of any payment due under this Agreement which is not paid on its due date: (i) if the payment is not in respect of Excluded Property, the rate applicable to the corresponding payment under the Loan Agreement or other applicable Operative Document; or (ii) if the payment is in respect of Excluded Property, ten per cent (10%) per annum; “Remarketing Agent” means any remarketing agent appointed in respect of the Vessel by the Representative Owner and notified to the Charterer in writing from time to time;
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Relevant Rate of Interest means the rate of interest determined by the Facility Agent to be one point five per cent. (1.5%) per annum plus the Applicable Margin above LIBOR for the relevant period.
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Examples of Relevant Rate of Interest in a sentence

  • Moneys becoming due by the Hirer to the Owner under the indemnities contained in this clause 10 or elsewhere in this Agreement or any of the other Hirer's Documents shall be paid on demand made by the Owner and shall be paid together with interest thereon at the Relevant Rate of Interest from the date of demand by the Owner to the date of reimbursement by the Hirer to the Owner (after as well as before judgment).

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  • If the Hirer fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 9.3) on its due date for payment under any of the Hirer's Documents, the Hirer shall pay to the Owner on demand interest on such sum from the due date up to the date of actual payment (after as well as before any relevant judgment) at the Relevant Rate of Interest.

  • This can occur when the product itself is known to be tied to that certain location.


More Definitions of Relevant Rate of Interest

Relevant Rate of Interest means the rate of interest determined by the Owner to be Two percent (2%) per annum above the base rate of The Royal Bank of Scotland plc;
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Relevant Rate of Interest means the rate of interest determined by the Owner to be two per cent (2%) per annum above the base rate of The Royal Bank of Scotland plc;
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Relevant Rate of Interest means the rate of interest determined by the Owner to be three per cent. (3%) per annum above LIBOR;
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Related to Relevant Rate of Interest

  • 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);

  • 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.

  • Prime Rate of Interest means that rate of interest designated as such by Fleet National Bank of Connecticut, N.A., or any successor thereto, as the same may from time to time fluctuate.

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

  • Default Rate of Interest means a rate of interest per annum equal to the sum of: (i) two percent (2%), (ii) the Chase Bank Rate, and (iii) the then Applicable Margin for Chase Bank Rate Loans, which rate the Agent shall be entitled to charge the Borrowers on all Obligations due the Lenders or the Agent by the Borrowers to the extent provided in Section 10.2 of this Financing Agreement.

  • 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;

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period, 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.

  • Relevant Rate means the Benchmark for a Representative Amount of the Specified Currency for a period (if applicable or appropriate to the Benchmark) equal to the Specified Duration commencing on the Effective Date.

  • Maximum Rate of Interest It is intended that the rate of interest hereon shall never exceed the maximum rate, if any, which may be legally charged on the loan evidenced by this Note ("Maximum Rate"), and if the provisions for interest contained in this Note would result in a rate higher than the Maximum Rate, interest shall nevertheless be limited to the Maximum Rate and any amounts which may be paid toward interest in excess of the Maximum Rate shall be applied to the reduction of principal, or, at the option of HSBC, returned to the Company.

  • Reference Rate of Interest Event means, with respect to the Swap Rate or any subsequent Reference Rate of Interest (the "Reference Rate of Interest") one of the following events:

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • Substitute Reference Rate of Interest Adjustments means such adjustments as are determined by the Issuer to be consistent with enabling the correct functioning of the Substitute Reference Rate of Interest (which may include, without limitation, adjustments to the applicable screen page, Business Day Convention, the definition of Business Day, the Interest Determination Date, the Day Count Fraction or any method or definition for obtaining or calculating the Substitute Reference Rate of Interest).

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • LIBOR Screen Rate means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).

  • Rate means the Adjusted LIBO Rate and the Alternate Base Rate.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • Reference Rate means the rate specified as such hereon.

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • EURIBOR Screen Rate has the meaning assigned to such term in the definition of “Eurocurrency Rate”.

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Current rate of pay means the member's actual hourly, daily, weekly, biweekly, monthly, or yearly rate of pay converted to an annual rate as defined in final rate of pay. The rate shall be certified by the employer;