Rate calculation. (1) The Guar- xxxxx Fee rate generally shall vary in- versely with the ratio of Equity to Long-Term Debt (Variable Rate) of the Person who we consider to be the pri- xxxx source of credit in the trans- action (Credit Source), for example,
(i) The long term time charterer (where the charter hire represents the source of payment of interest and prin- cipal with respect to the Obligations),
(ii) The guarantor of the Obligations,
(iii) The Obligor, or
(iv) The bareboat charterer.
(2) Where the Variable Rate is used, we may make such adjustments to the computation of Equity and Long-Term Debt considered necessary to reflect more accurately the financial condi- tion of the Credit Source.
(3) We shall base our determination of Equity and Long-Term Debt on in- formation contained in forms or state- ments on file with us prior to the date on which the Guarantee Fee is to be paid.
(4) With our consent, you may in- clude in Equity and exclude from Long- Term Debt, any subordinated indebted- ness representing loans from any credit source.
Rate calculation. Each Employee granted a vacation under this Article will be paid at his average straight time rate (standard hourly wage rate plus incentive) for the prior calendar year. The average straight time rate (for the purposes of this Section) shall be computed by:
(1) Totaling (a) pay received for all hours worked (excluding premium for overtime, holiday, Sunday and shift differential), (b) vacation pay, including pay in lieu of vacation, and (c) pay for unworked holidays, and
Rate calculation specify the basis for the travel costs.
a. For mileage, specify the number of miles and the cost per mile. For air transportation, specify the cost. For per diem, specify the number of days and daily cost. For lodging, specify the number of nights and daily cost.
b. Costs for contingencies and miscellaneous costs are not allowable.
Rate calculation. Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest rate by 365. Wemultiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.
