what is set rate ??????????
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1 a quantity or amount considered in relation to or measured against another quantity or amount. a rate of 70 miles an hour. a a price or charge with reference to a standard or scale.rate of interest, rate of discount.
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Set Rate means, with respect to any Competitive Loan (other than a Variable Rate Competitive Loan), the fixed rate of interest per annum specified by the Lender making such Competitive Loan in its related Competitive Bid.
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