Accrual Feature definition

Accrual Feature means the result of the fraction of which the numerator is the number of days in the relevant Interest Accrual Period on which interest will be deemed to have accrued by reference to the following formula:
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Accrual Feature means the result of the fraction of which the numerator is the number of days in the relevant Interest Accrual Period on which interest will be deemed to have accrued by reference to the circumstances or formula described in the relevant Final Terms and the denominator is the number of days in the relevant Interest Accrual Period, in each case as further described in the Final Terms;
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Accrual Feature shall equal the number of Business Days during the applicable quarterly interest period on which CMS30 is equal to or greater than CMS2 divided by the number of Business Days during such quarterly interest period, provided that CMS30 and CMS2 on the seventh Business Day prior to the end of a quarterly interest period will be deemed to the rate applicable to each of the seven Business Days prior to the end of such quarterly interest period.
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Examples of Accrual Feature in a sentence

  • For calendar days which are not Business Days, the Accrual Feature calculation will use CMS30 and CMS2 from the last fixings immediately preceding such calendar day.

  • During the quarterly interest period beginning on April 5, 2008 and during each quarterly interest period thereafter, interest shall accrue on the Notes at 7.00% per annum multiplied by the Accrual Feature (as defined below).

  • For calendar days which are not Business Days, the Accrual Feature calculation will use CMS30 and CMS10 from the last fixings immediately preceding such calendar day.

  • From and including June 30, 2009 to but excluding June 30, 2013, interest on the Notes shall accrue at 8.40% per annum multiplied by the Accrual Feature (as defined below).

  • Interest on this Note shall accrue during each quarterly interest period at 11.00% per annum multiplied by the Accrual Feature (as defined below).

  • During the quarterly interest period beginning on February 25, 2009 and during each quarterly interest period thereafter, interest shall accrue on the Notes at 9.125% per annum multiplied by the Accrual Feature (as defined below).

  • During the quarterly interest period beginning on June 12, 2008, and during each quarterly interest period thereafter, interest shall accrue on the Notes at 9.00% per annum multiplied by the Accrual Feature (as defined below).

  • During each quarterly interest period, interest on this Note shall accrue at 8.30% per annum multiplied by the Accrual Feature.

  • During the quarterly interest period beginning on June 29, 2009 and during each quarterly interest period thereafter, interest shall accrue on the Notes at 9.00% per annum multiplied by the Accrual Feature (as defined below).

  • During the semi-annual interest period beginning on June 6, 2008 and during each semi-annual interest period thereafter, interest shall accrue on the Notes at 9.57% per annum multiplied by the Accrual Feature (as defined below).


More Definitions of Accrual Feature

Accrual Feature shall equal the number of Business Days during the applicable quarterly interest period on which 6-month U.S. Dollar LIBOR (as defined below) is within the Range (as defined below), divided by the number of Business Days during such quarterly interest period, provided that 6-month U.S. Dollar LIBOR on the seventh Business Day prior to the end of a quarterly interest period will be deemed to be the rate applicable to each of the seven Business Days prior to the end of such quarterly interest period. The “Range” is:
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Accrual Feature shall equal the number of Business Days during the applicable semi-annual interest period on which CMS5 is greater than CMS2 by 0.15% or more, divided by the number of Business Days during such semi-annual interest period, provided that CMS5 and CMS2 on the seventh Business Day prior to the end of a semi-annual interest period will be deemed to the rate applicable to each of the seven Business Days prior to the end of such semi-annual interest period. “CMS5” equals the 5-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on Reuters page ISDAFIX1, at 11:00 a.m., New York City time.
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Accrual Feature shall equal the number of calendar days during the applicable semi-annual interest period on which CMS30 (as defined below) is greater than or equal to CMS10 (as defined below), divided by the number of calendar days during such semi-annual interest period, provided that CMS30 and CMS10 on the seventh scheduled Business Day prior to the end of a semi-annual interest period will be deemed to be the rate applicable to each calendar day from and including such seventh scheduled Business Day to the end of such semi-annual interest period. For calendar days which are not Business Days, the Accrual Feature calculation will use CMS30 and CMS10 from the last fixings immediately preceding such calendar day.
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Accrual Feature shall equal the number of calendar days during the applicable semi-annual interest period on which CMS5 is greater than CMS2 by 0.15% or more, divided by the number of calendar days during such semi-annual interest period, provided that CMS5 and CMS2 on the seventh Business Day prior to the end of a semi-annual interest period will be deemed to the rate applicable to each of the seven Business Days prior to the end of such semi-annual interest period. For calendar days which are not Business Days, the Accrual Feature calculation will use the CMS5 and CMS2 rates from the last fixing immediately preceding such calendar day. “CMS5” equals the 5-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on Reuters page ISDAFIX1, at 11:00 a.m., New York City time.
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Accrual Feature shall equal the number of calendar days during the applicable semi-annual interest period on which CMS5 (as defined below) is greater than CMS2 (as defined below) by 0.15% or more, divided by the number of calendar days during such semi-annual interest period, provided that CMS5 and CMS2 on the seventh Business Day prior to the end of a semi-annual interest period will be deemed to the rate applicable to each of the seven Business Days prior to the end of such semi-annual interest period. For calendar days which are not Business Days, the Accrual Feature calculation will use the CMS5 and CMS2 rates from the last fixing immediately preceding such calendar day. “CMS5” equals the 5-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on Reuters page ISDAFIX1, at 11:00 a.m., New York City time.
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Related to Accrual Feature

  • Formula means the appropriate secondary road fund distribution formula or farm-to-market road fund distribution formula as defined in subrules 102.2(2) and 102.2(3).

  • Accrual Yield means the rate specified as such in the applicable Final Terms; and

  • CLASS Features means certain CCIS-based features available to Customers, including: Automatic Call Back; Caller Identification and related blocking features; Distinctive Ringing/Call Waiting; Selective Call Forward; and Selective Call Rejection.

  • Water feature means a design element where open water performs an aesthetic or recreational function. Water features include ponds, lakes, waterfalls, fountains, artificial streams, spas, and swimming pools (where water is artificially supplied). The surface area of water features is included in the high water use hydrozone of the landscape area. Constructed wetlands used for on-site wastewater treatment, habitat protection, or storm water best management practices that are not irrigated and used solely for water treatment or storm water retention are not water features and, therefore, are not subject to the water budget calculation.