Benchmark Rate
Benchmark Rate. The benchmark interest rate (i.e., the prime rate or secured overnight funding rate) used by Purchaser to determine the per annum rate of interest for Dealers designated from time to time by Purchaser pursuant to the Sales and Service Agreements, such benchmark rate to be determined by Purchaser in the same manner as determined under the Sales and Service Agreements.
All Definitions
Found in
FORD CREDIT FLOORPLAN LLC contract