Late Payment Rate

Late Payment Rate. Shall mean the lesser of (a) the greater of (i) the per annum rate of interest publicly announced from time to time by Citibank, N.A. as its prime or base lending rate (any change in such rate of interest to be effective on the date such change is announced by Citibank, N.A. ), plus 2% per annum and (ii) the then applicable highest rate of interest on the Class A Notes and (b) the maximum rate permissible under applicable usury or similar laws limiting interest rates. The Late Payment Rate... shall be computed on the basis of the actual number of days elapsed over a year of 360 days. View More

Late Payment Rate. Whenever in this Agreement the term "Late Payment Rate" is used it will mean the greater of (a) 10% per annum, or (b) the rate of interest which is 3% over the prime rate (as published in the Wall Street Journal under "WSJ Prime Rate" from time to time) charged at the time interest is accruing at the Late Payment Rate, whichever is higher, unless prohibited by law, in which case "Late Payment Rate" will mean the maximum contract rate permitted by law.

Late Payment Rate. The rate of interest as it is publicly announced by Citibank, N.A. at its principal office in New York, New York as its prime rate (any change in such prime rate of interest to be effective on the date such change is announced by Citibank, N.A. ), plus 3%. The Late Payment Rate shall be computed on the basis of a year of 365 days calculating the actual number of days elapsed. In no event shall the Late Payment Rate exceed the maximum rate permissible under any applicable law limiting interest... rates. View More

Late Payment Rate. Shall mean an annual interest rate equal to the lesser of 18% or the maximum interest rate permitted by Applicable Law.