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INDEX RATE Clause Examples for Any Agreement

The INDEX RATE clause defines the specific benchmark interest rate that will be used to calculate variable payments under an agreement, such as a loan or financial contract. Typically, this clause identifies a well-known rate, like LIBOR or SOFR, and outlines how and when the rate is determined, as well as what happens if the index becomes unavailable. By clearly specifying the reference rate and its application, the clause ensures transparency and predictability in payment calculations, reducing disputes and uncertainty for both parties.
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INDEX RATE.ÌýThe “Index Rateâ€� is the highest Prime Rate published in the “Money Ratesâ€� column of The Wall Street Journal (“WSJâ€�) (the “Prime Rateâ€�) in the month preceding the billing cycle. (such date is an “Index Rate Adjustment Dateâ€�). The new Index Rate will take effect on the first day of your next Billing Cycle that follows an Index Rate Adjustment Date. If the APR increases, your Minimum Payment amount may increase and if you only pay the Minimum Payment, it will take you longer to pay what you owe in full. We use the Prime Rate solely as a pricing index and do not represent it to be the lowest or best interest rate available to any of our borrowers at any given time. If WSJ ceases to publish a Prime Rate, we may substitute another rate published in another publication or another index which we do not control as the Index Rate.
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INDEX RATE.ÌýThe index will serve only as a device for setting the interest rate on this note. You do not guarantee by selecting this index, or the margin, that the interest rate on this note will be the same rate you charge on any other loans or class of loans you make to me or other borrowers. POST MATURITY RATE â€� For purposes of deciding when the "Post Maturity Rate" (shown on page 1) applies, the term "maturity" means the date of the last scheduled payment indicated on page 1 of this note or the date you accelerate payment on the note, whichever is earlier.
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INDEX RATE.ÌýIf you selected an index product, the Rate for your Service will be the index and the adder indicated in your Enrollment Documentation and will vary in accordance with the terms of the specific index (“Index Rateâ€�).
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INDEX RATE.ÌýThe index will serve only as a device for setting the rate on this note. You do not guarantee by selecting this index, or the margin, that the rate on this note will be the same rate you charge on any other loans or class of loans to me or other borrowers.ACCRUAL METHOD: The amount of interest that I will pay on this loan will be calculated using the interest rate and accrual method stated on page 1 of this note. For the purpose of interest calculation, the accrual method will determine the number of days in a “year.â€� If no accrual method is stated, then you may use any reasonable accrual method for calculating ixxxxxxx.XXXX MATURITY RATE: For purposes of deciding when the â€�Post Maturity Rateâ€� (shown on page 1) applies, the term “maturityâ€� means the date of the last scheduled payment indicated on page 1 of this note or the date you accelerate payment on the note, whichever is earlier.
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INDEX RATE.ÌýFor any day, a floating rate equal to the higher of (i) the rate publicly quoted from time to time by THE WALL STREET JOURNAL as the "base rate on corporate loans posted by at least 75% of the nation's 30 largest banks" (or, if THE WALL STREET JOURNAL ceases quoting a base rate of the type described, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled "Selected Interest Rates" as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in this Credit Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate. INELIGIBLE PROFESSIONAL EXPENSES. Fees or expenses incurred by any Person, including the Creditors' Committee, in (i) preventing, hindering or delaying the Lenders' or the Agents' enforcement or realization upon any of the Collateral once the Termination Declaration Date has occurred, (ii) using cash collateral or selling any other Collateral without the consent of the Lenders (except to the extent permitted by this Credit Agreement), (iii) incurring Indebtedness without the consent of the Lenders (except to the extent permitted by this Credit Agreement) and (iv) objecting to or contesting in any manner, or in raising any defenses to, the validity, extent, perfection, priority or enforceability of the Obligations or any Liens with respect thereto or any other rights or interests of the Agents and the Lenders, or in asserting any claims or causes of action, including, without limitation, Avoidance Actions or equitable subordination claims against the Agents or the Lenders. The term does not include fees or expenses incurred to investigate such matters or litigation respecting whether an Event of Default has occurred.
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INDEX RATE.Ìý14 GECC Composite Commercial Paper Rate. . . . . . . . . . . . . . . . . 14
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INDEX RATE.ÌýThe Index Rate shall be a variable rate per annum for any Bond in the Index Rate Mode, subject to the following terms and conditions: (1) The Index Rate shall be applicable for the related Index Rate Period. The duration of each Index Rate Period is subject to the terms and conditions of Section 4.2
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INDEX RATE.ÌýThe index will serve only as a device for setting the rate on this note. You do not guarantee by selecting this index, or the margin, that the rate on this note will be the same rate you charge on any other loans or class of loans to me or other borrowers. ACCRUAL METHOD: The amount of interest that I will pay on this loan will be calculated using the interest rate and accrual method stated on page 1 of this note. For the purpose of interest calculation, the accrual method will determine the number of days in a year. If no accrual method is stated, then you may use any reasonable accrual method for calculating-interest. POST MATURITY RATE: For purposes of deciding when the "Post Maturity Rate" (shown on page 1) applies, the term "maturity" means the date of the last scheduled payment indicated on page 1 of this note or the date you accelerate payment on the note, whichever is earlier.
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Related to INDEX RATE

  • Alternate Rate of Interest; Illegality (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing: (i) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period; or (ii) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or other electronic transmission as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (x) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (y) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing. (b) If any Lender reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted after the Effective Date that it is unlawful, for such Lender or its applicable lending office to make or maintain any Eurodollar Borrowing, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligations of such Lender to make or continue any Eurodollar Borrowing or to convert ABR Borrowings to Eurodollar Borrowings shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), either convert all Eurodollar Borrowings of such Lender to ABR Borrowings, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Borrowings to such day, or immediately, if such Lender may not lawfully continue to maintain such Loans (in which case the Borrower shall not be required to make payments pursuant to Section 2.13 in connection with such payment). Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different lending office if such designation will avoid the need for such notice and will not, in the determination of such Lender, otherwise be disadvantageous to it.