Annual Basis for the purpose of this rule, means a year as defined in Iowa Code section 4.1(40) beginning January 1 and ending December 31.

Annual Basis means computation of interest at the Rate set forth above using a 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Annual Basis means computation of interest for the actual number of days elapsed and as if each year were composed of 360 days and (ii) the term “Prime Rate” means, on any day, the rate of interest per annum then most recently established by Lender as its “prime rate.” Any such rate is a general reference rate of interest, may not be related to any other rate, and may not be the lowest or best rate actually charged by Lender to any customer or a favored rate and may not correspond with future increases or decreases in interest rates charged by other lenders or market rates in general, and that Lender may make various business or other loans at rates of interest having no relationship to such rate. Each time the Prime Rate changes, the per annum rate of interest on this Note shall change immediately and contemporaneously with such change in the Prime Rate. If Lender (including any subsequent holder of this Note) ceases to exist or to establish or publish a prime rate from which the Prime Rate is then determined, the applicable variable rate from which the Prime Rate is determined thereafter shall be instead the prime rate reported in The Wall Street Journal (or the average prime rate if a high and a low prime rate are therein reported), and the Prime Rate shall change without notice with each change in such prime rate as of the date such change is reported.

Examples of Annual Basis in a sentence

Such payments shall be subject to standard mandatory deductions by the Employer (i.e., Federal & State Taxes, Social Security, Medicare) and shall be made on a ☐ Weekly ☐ Bi-Weekly ☐ Monthly ☐ Quarterly ☐ Annual basis.

More Definitions of Annual Basis

Annual Basis means computation of interest for the actual number of days elapsed and as if each year were composed of 360 days, and (ii) the term “BBA LIBOR Daily Floating Rate” shall mean a fluctuating rate of interest per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as selected by Lender from time to time) as determined for each Business Day at approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, for U.S. Dollar deposits (for delivery on the first day of such interest period) with a one month term, as adjusted from time to time in Lender’s sole discretion for governmental reserve requirements, deposit insurance assessment rates and other regulatory costs. If such rate is not available at such time for any reason, then a comparable rate will be reasonably selected by Lender. “Business Day” shall mean a day on which Lender is open for the conduct of substantially all of its banking business at its office in the city in which this Note is payable (excluding Saturdays and Sundays). A “London Banking Day” is a day on which banks in London are open for business and dealing in offshore dollars.

Annual Basis referred to in this Note means computation of interest for the actual number of days elapsed and as if each year were composed of 360 days.

Annual Basis shall be determined based on a financial year;

Annual Basis. At least once a year the entire Program Agreement and the IDHS/EI Medical Programs Guide shall be reviewed by IDPA and IDHS. Such review shall be for the purpose of continuing the Program Agreement, maintenance of the IDHS/EI Medical Programs Guide, and/or including clarifications as may be necessary.

Annual Basis means July 1, 2023 and every year thereafter until the termination or expiration of the agreement.

Annual Basis referred to in this Note means computation of interest for the actual number of days elapsed and as if each year were composed of 360 days. However, use of the Annual Basis is subject always to limitation by the Maximum Rate and in no event shall any such computation result in an amount of interest in excess of the Maximum Amount (hereinafter defined). In any event, all interest at the Maximum Rate shall be computed on the Annual Basis of 365 days (366 in a leap year). Any principal of, and to the extent permitted by applicable law, any interest on this Note, and any other sum payable hereunder, which is not paid when due shall bear interest, from the date due and payable until paid, payable on demand, at a rate per annum (the "Default Rate") equal to the lesser of (i) three percent (3%) above the Stated Rate or (ii) the Maximum Rate.