Accrual of Interest definition

Accrual of Interest means, with reference to each Receivable, the Interest Component, pro rata temporis on the basis of a month of 30 days, calculated, with reference to the Initial Receivables, as at the Financial Effective Date and, with reference to the Subsequent Receivables, as at the relevant Valuation Date and relating to the first Instalment falling due after such Financial Effective Date or Valuation Date, as the case may be.
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Accrual of Interest. Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 6 to the Relevant Date (as defined in Condition 9).
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Accrual of Interest. Interest will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account. Account Restrictions: This certificate of deposit is for minors 0-17 years of age. Additional deposits to these accounts, other than the payment of interest as described in Compounding and Crediting are not allowed prior to maturity. Other than the payment of interest as described in Compounding and Crediting, you may not withdraw from this account prior to maturity. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. Early Withdrawal Penalties: The penalty for early withdrawal on the 12-Month Youth Certificate of Deposit will equal 90 days of interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty. IRA CERTIFICATE OF DEPOSIT: The interest rates to be earned on IRA certificates are predetermined and may change daily. The rate you may earn on an IRA certificate of deposit is contractually set for the term of your certificate. Our current daily offering rates on IRA certificates are available by contacting us by phone, on our website, or through inquiry at any of our branch locations. Once you purchase an IRA certificate, your interest rate will not be changed or recalculated during the term of the certificate. The Annual Percentage Yield (APY) assumes that interest earned will remain on deposit until maturity. Earnings will be reduced if you have interest deposited in another account. Compounding and Crediting: Interest on the 12-, 18-, 24-, 36-, 48-, and 60-Month IRA Certificates will be compounded and credited monthly. Interest earned can be received as follows:
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Examples of Accrual of Interest in a sentence

  • Accrual of Interest on Noncash Deposits — Interest begins to accrue on the business day you deposit noncash items (for example, checks).

  • Accrual of Interest: Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused by the Issuer or the Agents, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 5 to the Relevant Date (as defined in Condition 8).

  • Accrual of Interest: Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 5 to the Relevant Date (as defined in Condition 8).

  • Accrual of Interest: Providers are not allowed to retain more than $100 in interest earned on federal funds per year per Title 45 CFR, 92.21(i).

  • No Accrual of Interest on Loans of Certain Active Duty ServicemembersFor all types of loans made through the Direct Loan program that were first disbursed on or after October 1, 2008, no interest accrues during a period of up to 60 months while the borrower is serving on active duty in the Armed Forces or is performing qualifying National Guard duty in an area of hostilities during a war or national emergency.

  • Accrual of Interest on Child Support ........................................................

  • There will not be any periodic payments of interest on the Notes.(2) Accrual of Interest.

  • Accrual of Interest on Non-cash Items Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items.

  • Accrual of Interest: Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 5 to the Relevant Date (as defined in Condition 9).

  • The Amortisation Yield[s] [is][are] [insert Amortisation Yield][In the case of different Amortisation Yields for individual Interest Periods, set forth applicable provisions (including fallback provisions) herein]] [Continuation of general terms and conditions for interest:[(●)] Accrual of Interest and Default Interest.


More Definitions of Accrual of Interest

Accrual of Interest. Interest will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account. Account Restrictions: With the exception of Super Saver Certificates, additional deposits to these accounts, other than the payment of interest as described in Compounding and Crediting are not allowed prior to maturity. Other than the payment of interest as described in Compounding and Crediting, you may not withdraw from this account prior to maturity. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. Early Withdrawal Penalties: The penalty for early withdrawal on the one-year certificate will equal 90 days of interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five-year certificate will be equal to one (1) year interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty.
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Accrual of Interest. Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 5 to the Relevant Date (as defined in Condition 8) (Taxation).
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Accrual of Interest. Interest will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account. Account Restrictions: With the exception of Super Saver Certificates, additional deposits to these accounts, other than the payment of interest as described in Compounding and Crediting are not allowed prior to maturity. Other than the payment of interest as described in Compounding and Crediting, you may not withdraw from this account prior to maturity. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. Early Withdrawal Penalties: The penalty for early withdrawal on the one-year certificate will equal 90 days of interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five-year certificate will be equal to one (1) year interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty. NESTFUND CERTIFICATES: If you purchase a NestFund Certificate, you may make additional deposits into that certificate throughout its term. NestFund Certificates are available in 24-, 36-, 48-, and 60-month terms. Variable Rate Information: This account is subject to a Variable Rate. The interest rate and corresponding Annual Percentage Yield (APY) may change. Current interest rate and APY will be available each business day in our offices and on our website. The APY is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For this certificate, the Interest Rate and Annual Percentage Yield are variable and will be indexed to the S&P/Case-Shiller Detroit Home Price Index. Rates will adjust the first business day of each month to reflect the changed index. Rates will not be less than 0.50% and will never exceed 3.00%. Compounding and Crediting: Interest on the 24-, 36-, 48-, or 60-month certificates will be compounded and credited monthly. Interest earned will be rolled into your certificate.
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Related to Accrual of Interest

  • Calculation of Interest Interest on the Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: October 1, 1998 to April 1, 1999 equals 6 months and 0 days, or 180 days; the interest paid equals 180/360 times the annual rate of interest times the principal amount of the Note. The period from December 3, 1998 to April 1, 1999 equals 3 months and 28 days, or 118 days; the interest payable equals 118/360 times the annual rate of interest times the principal amount of the Note.)

  • Accrual Yield means the rate specified as such in the applicable Final Terms; and

  • Identity of Interest means a situation in which a Project Participant has a direct or indirect interest in the ownership of an entity which contracts with a Project Participant to provide land, goods, loans, financial support, or services for the project or where there is a financial, familial, or business relationship that permits less than arm’s length transactions.

  • Expression of Interest means a statement of qualifications submitted in response to and according to the terms of this Request for Expressions of Interest;

  • Accrual Date With respect to any Series or Class of Certificates, the date upon which interest begins accruing on the Certificates of such Series or Class, which shall be specified in the related Pooling and Servicing Agreement.

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Tier 1 BCN or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Tier 1 BCN and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Arrears of Interest means as at any date and in relation to any Mortgage Loan, interest (other than Capitalised Interest or Accrued Interest) on such Mortgage Loan which is currently due and payable on such date;

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Proof of Interest means a proof of Interest Filed against any of the Debtors in the Chapter 11 Cases.

  • Accrual Period With respect to each Payment Date, the period beginning on and including the prior Payment Date (or, in the case of the first Payment Date, the Closing Date) and ending on and including the day preceding such Payment Date.

  • Interest Accrual Date means with respect to any Security, the date the Company accepts funds for the purchase of the Security if such funds are received by 3:00 p.m. (EDT) on a Business Day, or if such funds are not so received, on the next Business Day.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Interest Basis has the meaning given to it in the applicable Final Terms;

  • Interest Day Count Convention means the actual number of days in the related Interest Accrual Period divided by 360.

  • Day Count Fraction means, in respect of the calculation of an amount of interest on any Note for any period of time (from and including the first day of such period to but excluding the last) (whether or not constituting an Interest Period or an Interest Accrual Period, the “Calculation Period”):