Variable Rate of Interest definition

Variable Rate of Interest. (VRI) means the interest rate announced by AHFL from time to time as its RPLR and applied by AHFL with spread, if any, as may be decided by AHFL on the loan of the Borrower pursuant to this Agreement.
Sample 1Sample 2
Variable Rate of Interest means a rate calculated as follows:
Sample 1Sample 2
Variable Rate of Interest shall be the rate of interest linked to the RLLR applied with spread by BANDHAN BANK on the loan.
Sample 1Sample 2

Examples of Variable Rate of Interest in a sentence

  • In any case, the Variable Rate of Interest may be lower than market interest rates and lower than the rate of interest then payable by the Issuer on other floating rate securities.

  • The Notes shall bear interest on their outstanding aggregate principal amount at the Variable Rate of Interest (as defined below) from, and including, the Interest Rate Change Date to, but excluding, the Maturity Date (as defined in § 5 (1)) (the "Second Period").

  • Such Variable Rate of Interest will be capped at any specified Maximum Rate of Interest (see risk factor 8.4 below).

  • If “ISDA Determination” is applicable, the Variable Rate of Interest to be applied will be based on the relevant ISDA Rate, plus or minus the Margin (if any), after application of the Interest Multiplier (if any) to the resulting amount (see risk factor 8.3 below).

  • Where the applicable Final Terms specifies that the Variable Rate of Interest for an Interest Period will be determined using CMS SOFR, the Variable Rate of Interest will be determined by reference to the SOFR Swap Rate.

  • Such Variable Rate of Interest will be capped at any specified Maximum Rate of Interest (see risk factor8.4 below).

  • If “Screen Rate Determination” is applicable, the Variable Rate of Interest to be applied will be based on the relevant benchmark Reference Rate, plus or minus the Margin (if any), after application of the Interest Multiplier (if any) to the resulting amount (see risk factor8.3 below).

  • The Calculation Agent will cause the Variable Interest Period and the Variable Rate of Interest for the relevant Variable Interest Period to be notified to the Issuer, any stock exchange on which the Notes are from time to time listed (if required by the rules of such stock exchange) and to the Holders in accordance with § 11 as soon as possible after their determination.

  • The Variable Amount of Interest shall be calculated by applying the Variable Rate of Interest to the Specified Denomination, multiplying such sum by the applicable Variable Day Count Fraction (as defined below) and rounding the resulting figure to the nearest sub-unit of the relevant Specified Currency, with half of such sub-unit being rounded upwards or otherwise in accordance with applicable market convention.

  • If “Screen Rate Determination” is applicable, the Variable Rate of Interest to be applied will be based on the relevant benchmark Reference Rate, plus or minus the Margin (if any), after application of the Interest Multiplier (if any) to the resulting amount (see risk factor 8.3 below).


More Definitions of Variable Rate of Interest

Variable Rate of Interest means a rate calculated as follows: MIN{MAX[ – ( × ), ], } 2.2 Rate of Interest The Rate of Interest applicable to the Notes in respect of any Interest Period to which the Inverse Floating Rate Coupon Conditions apply (as specified in the relevant Final Terms) shall be the Variable Rate of Interest. The Interest Amount shall be calculated in accordance with General Condition 4(d) (Interest on Structured Notes).
Sample 1

Related to Variable Rate of Interest

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • 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);

  • 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;

  • 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;

  • 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.

  • 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:

  • 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.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • 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.

  • 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.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Variable Rate Indebtedness means any portion of indebtedness or other payment obligations, the interest rate on which is not established at the time of incurrence and has not at some subsequent date been established at a single numerical rate for the entire term thereof.

  • 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.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Fixed Rate Term means a period commencing on a Business Day and continuing for 1, 2, 3 or 6 months, as designated by Borrower, during which all or a portion of the outstanding principal balance of this Note bears interest determined in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than One Hundred Thousand Dollars ($100,000.00); and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day.

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

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

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on July 1, 2020 and ending on and including June 30, 2025 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including June 30 in the fifth year thereafter.

  • 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).

  • available rate of exchange means the rate at which the Creditor Party concerned is able at the opening of business (London time) on the Business Day after it receives the sum concerned to purchase the Contractual Currency with the Payment Currency. This Clause 21.4 creates a separate liability of the Borrower which is distinct from its other liabilities under the Finance Documents and which shall not be merged in any judgment or order relating to those other liabilities.

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

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on September 20, 2018 and ending on and including December 19, 2018, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.