Hund's Rule states that electrons will occupy separate orbitals within the same energy level before pairing up in the same orbital. This means that when filling orbitals of equal energy, each orbital gets one electron first, which helps minimize electron-electron repulsion. This rule is important in understanding the electron configuration of atoms, particularly in the context of the Periodic Table. By following Hund's Rule, we can predict the behavior of elements during chemical reactions and their bonding characteristics, as the arrangement of electrons influences how atoms interact with one another.