Strategy Credit Rate Sample Clauses

Strategy Credit Rate. On any Business Day, the rate measuring the performance of the Strategy since the Strategy Term Start Date as determined by the Crediting Factors and the Index Performance of the Selected Index. Strategy Fee – The amount of the Contract Fee assessed to the Strategy Base on the Strategy Term End Date. Strategy Gross Withdrawal – The amount of Strategy Value that is withdrawn as the result of a Request for a partial withdrawal. Strategy Index MVA Factor – The factor used, in combination with the Strategy Interest MVA Factor, to calculate the Strategy MVA. Strategy Interest MVA Factor – The factor used, in combination with the Strategy Index MVA Factor, to calculate the Strategy MVA. Strategy MVA – The MVA calculated for each Strategy when a Contract Base Withdrawal in excess of the Free Annual Withdrawal Amount is taken from the Contract. The sum of the Strategy MVA(s) is equal to the MVA.
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Strategy Credit Rate. The Strategy Credit Rate is the rate measuring the performance of the Strategy since the Strategy Term Start Date as determined by the Crediting Factors and the Index Performance of the Selected Index. On the Strategy Term End Date, after application of the Strategy Credit to the Strategy Base, the Strategy Credit Rate is set to zero. The calculation of the Strategy Credit Rate varies by Strategy and is subject to the declared Crediting Factors. The Strategy Credit Rate is a function of the Index Performance. On any Business Day, Index Performance is calculated as A / B – 1, where: A = Index Value on that Business Day, and B = Index Value on the Strategy Term Start Date. The Strategy Credit Rate for the Point-to-Point Cap and Floor Strategy equals the greater of A and B, where: A = Floor, and B = the lesser of Index Performance and Cap. The Strategy Credit Rate for the Point-to-Point Cap and Buffer Strategy equals the lesser of A and B if Index Performance is greater than or equal to zero, where: A = Index Performance, and B = Cap. The Strategy Credit Rate for the Point-to-Point Cap and Buffer Strategy equals the lesser of A + B and zero if Index Performance is less than zero, where: A = Index Performance, and B = Buffer. Examples of these calculations are as follows: Example 1 – Point-to-Point Cap and Floor Strategy Floor = -10% Cap = 8% Index Value on Strategy Term Start Date = 2,000 Index Value on the date of the calculation = 2,200 Index Performance = 2,200/2,000 - 1 = 10% (0.10) Strategy Credit Rate = 8% ILVA-RIA-Core 13 Example 2 – Point-to-Point Cap and Floor Strategy Floor = -10% Cap = 8% Index Value on Strategy Term Start Date = 2,000 Index Value on the date of the calculation = 1,600 Index Performance = 1,600/2,000 - 1 = -20% (-0.20) Strategy Credit Rate = -10% Example 3 – Point-to-Point Cap and Buffer Strategy Buffer = 10% Cap = 8% Index Value on Strategy Term Start Date = 2,000 Index Value on the date of the calculation = 1,700 Index Performance = 1,700/2,000 - 1 = -15% (-0.15) Strategy Credit Rate = -5% Example 4 – Point-to-Point Cap and Buffer Strategy Buffer = 10% Cap = 8% Index Value on Strategy Term Start Date = 2,000 Index Value on the date of the calculation = 2,100 Index Performance = 2,100/2,000 - 1 = 5% (0.05) Strategy Credit Rate = 5% Example 5 – Point-to-Point Cap and Buffer Strategy Buffer = 10% Cap = 8% Index Value on Strategy Term Start Date = 2,000 Index Value on the date of the calculation = 1,900 Index Performance = 1,900/2,00...
Sample 1

Related to Strategy Credit Rate

  • Base Rate The greater of (a) the fluctuating annual rate of interest announced from time to time by the Agent at the Agent’s Head Office as its “prime rate” or (b) one half of one percent (0.5%) above the Federal Funds Effective Rate. The Base Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Any change in the rate of interest payable hereunder resulting from a change in the Base Rate shall become effective as of the opening of business on the day on which such change in the Base Rate becomes effective, without notice or demand of any kind.

  • Prime Rate Borrower may prepay principal on any portion of this Note which bears interest determined in relation to the Prime Rate at any time, in any amount and without penalty.

  • LIBOR Rate The election of LIBOR Rates shall be subject to the following terms and requirements:

  • Interest Rates; LIBOR Notification The interest rate on Eurodollar Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in certain other circumstances as set forth in Section 2.14(c) of this Agreement, such Section 2.14(c) provides a mechanism for determining an alternative rate of interest. The Administrative Agent will notify the Borrower, pursuant to Section 2.14, in advance of any change to the reference rate upon which the interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not be adjusted pursuant to Section 2.14(c), will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.

  • Interest on Revolving Credit Loans Except as otherwise provided in Section 5.11,

  • Eurodollar Rate Each Eurodollar Loan shall bear interest (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is made or created until the last day of the Interest Period applicable thereto or, if earlier, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted Eurodollar Rate, payable on the last day of each Interest Period applicable thereto and at maturity (whether by acceleration or otherwise) and, with respect to any Eurodollar Loan with an Interest Period in excess of three months, on the date occurring every date which is three months after the date such Loan is made or created; provided that if on the last day of the Interest Period applicable to any Eurodollar Loan the Company does not pay such Loan, such Loan shall automatically become a Domestic Rate Loan as of the day immediately following the last day of the Interest Period applicable thereto.

  • Interest on Revolving Credit Advances Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Eurodollar CDs Any Portfolio Securities which are Eurodollar CDs may be physically held by the European branch of the U.S. banking institution that is the issuer of such Eurodollar CD (a "European Branch"), provided that such Portfolio Securities are identified on the books of the Bank as belonging to the Fund and that the books of the Bank identify the European Branch holding such Portfolio Securities. Notwithstanding any other provision of this Agreement to the contrary, except as stated in the first sentence of this subsection 6.8, the Bank shall be under no other duty with respect to such Eurodollar CDs belonging to the Fund.

  • Rate of Interest All Loans and the outstanding amount of all other Obligations shall bear interest, in the case of Loans, on the unpaid principal amount thereof from the date such Loans are made and, in the case of such other Obligations, from the date such other Obligations are due and payable until, in all cases, paid in full, except as otherwise provided in clause (c) below, as follows:

  • Applicable Margin The following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to §8.4(c): Level Total Leverage Ratio Eurodollar Rate Loans / Letter of Credit Fees Base Rate Loans Commitment Fee I ≥ 3.75x 2.00% 1.00% 0.35% II < 3.75x and ≥ 3.25x 1.75% 0.75% 0.30% III < 3.25x and ≥ 2.50x 1.50% 0.50% 0.25% IV < 2.50x 1.25% 0.25% 0.20% Any increase or decrease in the Applicable Margin resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to §8.4(c); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required Lenders, Level I shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. The Applicable Margin in effect from the Sixth Amendment Effective Date through the date of delivery of the Compliance Certificate for the period ending March 31, 2019 (pursuant to §8.4(c)), with the financial statements to be delivered pursuant to §8.4(a), shall initially be set at Level II and in any event shall be no lower than Level II. Notwithstanding the foregoing to the contrary, in the event either the Borrowers or the Administrative Agent determines, in good faith, that the calculation of the Total Leverage Ratio on which the Applicable Margin for any particular period was determined is inaccurate and, as a consequence thereof, the Applicable Margin was lower or higher than it should have been, (i) the Borrowers shall promptly deliver (but in any event within ten (10) Business Days after the Borrowers discover such inaccuracy or the Borrowers are notified by the Administrative Agent of such inaccuracy, as the case may be) to the Administrative Agent correct financial statements for such period (and if such financial statements are not accurately restated and delivered within thirty (30) days after the first discovery of such inaccuracy by the Borrowers or such notice, as the case may be, and the Applicable Margin was lower than it should have been, then Level I shall apply retroactively for such period until such time as the correct financial statements are delivered and, upon the delivery of such corrected financial statements, thereafter the corrected Level shall apply for such period), (ii) the Administrative Agent shall determine and notify the Borrowers of the amount of interest that would have been due in respect of outstanding Obligations, if any, during such period had the Applicable Margin been calculated based on the correct Total Leverage Ratio (or, to the extent applicable, the Level I Applicable Margin if such corrected financial statements were not delivered as provided herein) and (iii) the applicable Borrower shall promptly pay to the Administrative Agent the difference, if any, between that amount and the amount actually paid in respect of such period. The foregoing notwithstanding shall in no way limit the rights of the Administrative Agent or the Lenders to exercise their rights to impose the rate of interest applicable during an Event of Default as provided herein.

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