Default Rate Definition Example with 6 Variations

This page contains an example definition of Default Rate, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Default Rate. Shall mean, with respect to an acceleration of the Mezzanine Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three percent (3%) above the LIBOR Rate, adjusted from time to time as set forth herein.
Found in CNL Hotels & Resorts, Inc. contract

Variations

Default Rate. Shall shall mean, with respect to an acceleration of the Mezzanine Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three percent (3%) above the LIBOR Applicable Rate, adjusted from time to time as set forth herein.
Found in CNL Hotels & Resorts, Inc. contract
Default Rate. Shall shall mean, with respect to an acceleration of the Mezzanine Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three four percent (3%) (4%) above the LIBOR Rate, adjusted from time to time as set forth herein.
Found in CNL Hotels & Resorts, Inc. contract
Default Rate. Shall shall mean, with respect to an acceleration of the Mezzanine Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three four percent (3%) (4%) above the LIBOR Rate, adjusted from time to time as set forth herein.
Found in 3 Contracts from MPG Office Trust, Inc.
Default Rate. Shall shall mean, with respect to an acceleration of the Mezzanine Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three four percent (3%) (4%) above the LIBOR Rate, adjusted from time to time as set forth herein.
Found in AMERICAN FINANCIAL REALTY TRUST contract
Default Rate. Shall mean, with respect to an acceleration of the Mezzanine Loan, shall mean a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three percent (3%) above the LIBOR Rate, adjusted from time to time as set forth herein.
Found in 16 Contracts from STATION CASINOS INC
Default Rate. Shall shall mean, with respect to an acceleration of the Mezzanine Loan, a rate per annum equal to the lesser of (a) the Maximum Legal Rate and (b) three four percent (3%) (4%) above the LIBOR Rate, adjusted from time to time as set forth herein.
Found in GLIMCHER REALTY TRUST contract
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