Interest on Cash Deposit. CenturyLink shall pay interest on any such cash deposit in accordance with state requirements for End User deposits if such exist
Interest on Cash Deposit. SCE will pay interest on cash deposits, except as provided below, calculated on a daily basis, and compounded at the end of each calendar month, from the date fully paid to the date of refund by check or credit to Seller’s account. The interest rate applicable in each calendar month shall be set forth in Rule 7; except that when a refund is made within the first fifteen days of a calendar month the interest rate applicable in the previous month shall be applied for the elapsed portion of the month in which the refund is made.
Interest on Cash Deposit. SCE will pay interest on cash deposits, except as provided below, calculated on a daily basis, and compounded at the end of each calendar month, from the date fully paid to the date of refund by check or credit to Aggregator’s account. SCE will pay interest compounded monthly at the rate of 1/12 of the interest rate on Commercial paper (prime, 3 months), published the prior month in the Federal Reserve Statistical Release, G.13. Should publication of the interest rate on Commercial Paper (prime 3 months) be discontinued interest will so accrue at the rate of 1/12 of the of the interest rate on Commercial paper, which most closely approximates the discontinued rate, and which is published the prior month in the Federal Reserve Statistical release, G.13. or its successor publication. Applicable interest commences on the date the deposit is received and earned interest will be paid at the time the deposit is applied to the customer’s account or refunded, similar to the calculation defined in Rule 7, except that when a refund is made within the first 15 days of a calendar month the interest rate applicable in the previous month shall be applied for the elapsed portion of the month in which the refund is made.
Interest on Cash Deposit. SCE will pay interest on cash deposits, calculated using the Federal Funds Effective Rate. The Federal Funds Effective Rate is the annual interest rate posted opposite the caption “Federal Funds (effective),” as set forth in the weekly statistical release as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System. Applicable interest commences on the date the deposit is received and earned interest will be calculated as the sum of the daily interest amounts for all calendar days in such Interest Period. The daily interest amount is to be determined as follows: (i) the amount of Cash held by SCE on that day; (ii) multiplied by the Federal Funds Effective Rate for that day, (iii) divided by 360. SCE will calculate and pay simple interest on cash deposits to Aggregator, concurrently with the return of such cash deposits in accordance with the terms and this Agreement..
