Examples of Monthly equivalent in a sentence
The "Amount at Risk" at the beginning of the Certificate Month is the difference between: (a) the Insured's Death Benefit that would have been payable in the event of the Insured's death on that day divided by one plus the Guaranteed Monthly Equivalent Interest Rate; and Page 11 (b) the Fund Value at the beginning of the Certificate Month, decreased by the monthly deduction for any additional benefit riders.
The Cost of Insurance is determined on the Monthly Date and is computed as follows: [bullet] Divide the Death Benefit on the first day of the contract month by 1 plus the Guaranteed Monthly Equivalent Interest Rate shown on the Contract Charges page; [bullet] Reduce the result by the Account Value on that day before computing the Monthly Deduction for the Cost of Insurance; and [bullet] Multiply the difference by the Cost of Insurance Rate for that month divided by 1000.
The NQMPPP Feature Monthly Equivalent is calculated in the same form and manner as the Monthly Equivalent in the MPPP.
Notwithstanding the foregoing, if a Participant ceases to meet the definition of an Eligible Employee while remaining an employee who accrues benefits or earnings under the NQMPPP, HMPP and/or the MPPP, then the offsets for the NQMPPP Monthly Equivalent, HMPP Monthly Benefit and MPPP Monthly Equivalent as so increased shall continue to be used to decrease the ESERP monthly Floor Benefit Feature.
If the Conversion Right is exercised during the second (2nd) Loan year the Conversion Rate shall be based on Holder's then-prevailing market interest rate spread for comparable mortgages with comparable loan terms, as determined by Holder in its sole discretion, ("Conversion Rate Spread") over the Monthly Equivalent Treasury Security Rate.
Monthly Equivalent Rate Estimated monthly rate pursuant to provisions in Clause 13.23.
If the Conversion Right is exercised during the first (1st) Loan year, the Conversion Rate shall be ninety-five one hundredths percent (0.95%) over the Monthly Equivalent Treasury Security Rate (as defined below).
INTEREST AND CHARGES INTEREST RATES Guaranteed Annual Interest Rate For the Fixed Account [3.50%] Guaranteed Monthly Equivalent Interest Rate [0.28709%] CONTRACT CHARGES Contract Fee [$30.00] per year Cost of Insurance as defined on page 9.
The Monthly Equivalent Treasury Note Rate for purposes of this provision shall be the rate which when compounded monthly results in a yield that is equivalent to the yield on the U.S. Treasury Note plus ___ percent (__%) which is compounded semi- annually, having a maturity date closest to the Maturity Date.
Notwithstanding the foregoing, if a Participant ceases to meet the definition of an Eligible Employee while remaining an employee who accrues benefits or earnings under the NQMPPP, HMPP and/or the MPPP, then the offsets for the NQMPPP Monthly Equivalent, HMPP Monthly Benefit and MPPP Monthly Equivalent as so increased shall continue to be used to decrease the ESERP monthly Floor Benefit Feature; provided, however, no such offsets shall increase or decrease after March 31, 2002.