Accrual of Interest definition

Accrual of Interest means, with reference to each Receivable, the Interest Component, pro rata temporis on the basis of a month of 30 days, calculated, with reference to the Initial Receivables, as at the Financial Effective Date and, with reference to the Subsequent Receivables, as at the relevant Valuation Date and relating to the first Instalment falling due after such Financial Effective Date or Valuation Date, as the case may be.
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Accrual of Interest. Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 6 to the Relevant Date (as defined in Condition 9).
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Accrual of Interest. Interest will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account. Account Restrictions: This certificate of deposit is for minors 0-17 years of age. Additional deposits to these accounts, other than the payment of interest as described in Compounding and Crediting are not allowed prior to maturity. Other than the payment of interest as described in Compounding and Crediting, you may not withdraw from this account prior to maturity. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. Early Withdrawal Penalties: The penalty for early withdrawal on the 12-Month Youth Certificate of Deposit will equal 90 days of interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty. IRA CERTIFICATE OF DEPOSIT: The interest rates to be earned on IRA certificates are predetermined and may change daily. The rate you may earn on an IRA certificate of deposit is contractually set for the term of your certificate. Our current daily offering rates on IRA certificates are available by contacting us by phone, on our website, or through inquiry at any of our branch locations. Once you purchase an IRA certificate, your interest rate will not be changed or recalculated during the term of the certificate. The Annual Percentage Yield (APY) assumes that interest earned will remain on deposit until maturity. Earnings will be reduced if you have interest deposited in another account. Compounding and Crediting: Interest on the 12-, 18-, 24-, 36-, 48-, and 60-Month IRA Certificates will be compounded and credited monthly. Interest earned can be received as follows:
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Examples of Accrual of Interest in a sentence

  • The Amortisation Yield[s] [is][are] [insert Amortisation Yield][In the case of different Amortisation Yields for individual Interest Periods, set forth applicable provisions (including fallback provisions) herein]] [Continuation of general terms and conditions for interest:[(●)] Accrual of Interest and Default Interest.

  • Falls die Emittentin die Schuldverschreibungen bei Fälligkeit nicht einlöst, sind die Schuldverschreibungen bezogen auf ihren Nennbetrag vom Tag der Fälligkeit an (einschließlich) bis zum Tag der tatsächlichen Rückzahlung der Schuldverschreibungen (ausschließlich) in Höhe des gesetzlich festgelegten Zinssatzes für Verzugszinsen zu verzinsen.1(4) Accrual of Interest and Default Interest.

  • Accrual of Interest on Noncash Deposits: Interest will begin to accrue on the day you deposit noncash items (for example, checks) into your account.

  • There will not be any periodic payments of interest on the Notes.(2) Accrual of Interest.

  • See below for what we believe are our Critical Accounting Policies.

  • Accrual of Interest The frequency of interest accrual, whether daily, monthly, quarterly, half-yearly, or annual, can be specified for a product during set up.

  • All certificates, communications, opinions, determinations, calculations, quotations and decisions given, expressed, made or obtained for the pur­ poses of the provisions of this § 3 by the [Calculation Agent] [Determination Agent] shall (in the absence of manifest error) be binding on the Issuer, the Fiscal Agent [, the Paying Agent[s]] and the Holders.(7) Accrual of Interest.

  • Accrual of Interest Each S.O. Bond (or in the case of the redemption of part only of an S.O. Bond, that part only of such S.O. Bond) will cease to bear interest (if any) from the date for its redemption unless payment of principal is improperly withheld or refused.

  • Accrual of Interest, Debits by Reserve Bank: Interest on each Advance shall accrue daily against the Borrower’s Account and shall be debited from the Borrower’s Account on the Maturity Date.

  • Accrual of Interest: Interest will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.


More Definitions of Accrual of Interest

Accrual of Interest. Interest will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account. Account Restrictions: With the exception of Super Saver Certificates, additional deposits to these accounts, other than the payment of interest as described in Compounding and Crediting are not allowed prior to maturity. Other than the payment of interest as described in Compounding and Crediting, you may not withdraw from this account prior to maturity. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. Early Withdrawal Penalties: The penalty for early withdrawal on the one-year certificate will equal 90 days of interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five-year certificate will be equal to one (1) year interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty.
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Accrual of Interest. Interest shall cease to accrue on each Note on the due date for redemption unless, upon due presentation, payment is improperly withheld or refused, in which event interest shall continue to accrue (both before and after judgment) at the Rate of Interest in the manner provided in this Condition 5 to the Relevant Date (as defined in Condition 8) (Taxation).
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Accrual of Interest. Interest will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account. Account Restrictions: With the exception of Super Saver Certificates, additional deposits to these accounts, other than the payment of interest as described in Compounding and Crediting are not allowed prior to maturity. Other than the payment of interest as described in Compounding and Crediting, you may not withdraw from this account prior to maturity. There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. Early Withdrawal Penalties: The penalty for early withdrawal on the one-year certificate will equal 90 days of interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five-year certificate will be equal to one (1) year interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty. NESTFUND CERTIFICATES: If you purchase a NestFund Certificate, you may make additional deposits into that certificate throughout its term. NestFund Certificates are available in 24-, 36-, 48-, and 60-month terms. Variable Rate Information: This account is subject to a Variable Rate. The interest rate and corresponding Annual Percentage Yield (APY) may change. Current interest rate and APY will be available each business day in our offices and on our website. The APY is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For this certificate, the Interest Rate and Annual Percentage Yield are variable and will be indexed to the S&P/Case-Shiller Detroit Home Price Index. Rates will adjust the first business day of each month to reflect the changed index. Rates will not be less than 0.50% and will never exceed 3.00%. Compounding and Crediting: Interest on the 24-, 36-, 48-, or 60-month certificates will be compounded and credited monthly. Interest earned will be rolled into your certificate.
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Related to Accrual of Interest

  • Calculation of Interest Interest on the Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: October 1, 1998 to April 1, 1999 equals 6 months and 0 days, or 180 days; the interest paid equals 180/360 times the annual rate of interest times the principal amount of the Note. The period from December 3, 1998 to April 1, 1999 equals 3 months and 28 days, or 118 days; the interest payable equals 118/360 times the annual rate of interest times the principal amount of the Note.)

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

  • Current Class B-3 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-4, Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-3 Fractional Interest.

  • Identity of Interest means a situation in which a Project Participant has a direct or indirect interest in the ownership of an entity which contracts with a Project Participant to provide land, goods, loans, financial support, or services for the project or where there is a financial, familial, or business relationship that permits less than arm’s length transactions.

  • Expression of Interest means a statement of qualifications submitted in response to and according to the terms of this Request for Expressions of Interest;

  • Current Class B-4 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-4 Fractional Interest.

  • Accrual Date With respect to any Series or Class of Certificates, the date upon which interest begins accruing on the Certificates of such Series or Class, which shall be specified in the related Pooling and Servicing Agreement.

  • Original Class B-3 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-4 Principal Balance, the Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-3 Fractional Interest is specified in Section 11.18.

  • Current Class B-1 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-1 Fractional Interest.

  • Arrears of Interest means as at any date in respect of any Loan, interest (other than Capitalized Interest or Accrued Interest) on that Loan which is currently due and payable and unpaid on that date;

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Current Class B-2 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-3, Class B-4, Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-2 Fractional Interest.

  • Current Class B-5 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the Principal Balance of the Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-5 Fractional Interest.

  • Proof of Interest means a proof of Interest filed in any of the Debtors in the Chapter 11 Cases.

  • Original Class B-4 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-4 Fractional Interest is specified in Section 11.19.

  • Accrual Period With respect to each Payment Date, the period beginning on and including the prior Payment Date (or, in the case of the first Payment Date, the Closing Date) and ending on and including the day preceding such Payment Date.

  • Interest Accrual Date means with respect to any Security, the date the Company accepts funds for the purchase of the Security if such funds are received by 3:00 p.m. (EDT) on a Business Day, or if such funds are not so received, on the next Business Day.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Original Class B-1 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-2 Principal Balance, the Original Class B-3 Principal Balance, the Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-1 Fractional Interest is specified in Section 11.16.

  • Interest Basis means the First Interest Basis or the Second Interest Basis, as applicable.

  • Original Class B-2 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-3 Principal Balance, the Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-2 Fractional Interest is specified in Section 11.17.

  • Original Class B-5 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-5 Fractional Interest is specified in Section 11.20.

  • Day Count Fraction means, in respect of the calculation of an amount of interest on any Note for any period of time (from and including the first day of such period to but excluding the last) (whether or not constituting an Interest Period or an Interest Accrual Period, the “Calculation Period”):

  • Taxable Equivalent of the Short-Term Municipal Bond Rate on any date means 90% of the quotient of (A) the per annum rate expressed on an interest equivalent basis equal to the Kenny S&P 30-day High Grade Index (the "Kenny Index") or any successor index, made available for the Business Day immediately preceding such date but in any event not later than 8:30 A.M., New York City time, on such date by Kenny Information Systems Inc. or any successor thereto, based upon 30-day yield evaluations at par of bonds the interest on which is excludable for regular Federal income tax purposes under the Code of "high grade" component issuers selected by Kenny Information Systems Inc. or any such successor from time to time in its discretion, which component issuers shall include, without limitation, issuers of general obligation bonds but shall exclude any bonds the interest on which constitutes an item of tax preference under Section 57(a)(5) of the Code, or successor provisions, for purposes of the "alternative minimum tax," divided by (B) 1.00 minus the Marginal Tax Rate (expressed as a decimal); provided, however, that if the Kenny Index is not made so available by 8:30 A.M., New York City time, on such date by Kenny Information Systems Inc. or any successor, the Taxable Equivalent of the Short-Term Municipal Bond Rate shall mean the quotient of (A) the per annum rate expressed on an interest equivalent basis equal to the most recent Kenny Index so made available for any preceding Business Day, divided by (B) 1.00 minus the Marginal Tax Rate (expressed as a decimal). The Corporation may not utilize a successor index to the Kenny Index unless Moody's and S&P provide the Corporation with written confirmation that the use of such successor index will not adversely affect the then-current respective Moody's and S&P ratings of the AMPS.

  • Dividend Rate has the meaning set forth in the Statement.