Interest Calculation Rules Sample Clauses

Interest Calculation Rules. The LKE Account Bank calculates and posts interest for all funds held through a standard method that utilizes interest rates as reported by the investment vehicle utilized by Intermediary. For check receipts, the first day for interest to be earned is generally two Banking Business Days following actual receipt (to accommodate float). For all other receipts (ACH, wire and book transfers), the first day for interest to be earned is generally one Banking Business Day following actual receipt. The last day interest is earned is the day prior to the date funds are disbursed pursuant to this Agreement. Interest is generally calculated daily and posted monthly to the Exchange Funds Account.