Default Rate

Example Definitions of "Default Rate"
Default Rate. Means an interest rate (which shall in no event be higher than the rate permitted by applicable law) equal to the prime interest rate of Contractor's principal lender.
Found in WILLIAMS PARTNERS L.P. contract
Default Rate. Means an annual interest rate equal to nine percent (9%) computed, notwithstanding anything contained in this Note to the contrary, from the Effective Date ; provided, however, at no time will the Default Rate exceed the Maximum Interest Rate.
Found in NATIONAL TAX CREDIT INVESTORS II contract
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