Composite percentage definition

Composite percentage means the average of all minimum payment percentages for a specific credit transaction.

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Composite percentage shall be computed as of the Effective Date and as of the last day of each month thereafter (the "computation date") and for any month the composite percentage shall be that computed as of the most recent computation date. "Composite percentage" as of a computation date shall be the sum of (i) the equity percentage as of such date multiplied by the percentage which equity investment as of such date is of the total capital as of such date, plus (ii) the stated interest rate per annum of each principal amount of indebtedness bearing a particular rate of interest outstanding on such date for money borrowed from persons other than Purchasers multiplied by the percentage which such principal amount is of total capital as of such date. "Equity percentage" as of any date shall be whatever percentage per annum may be authorized from time to time by FERC. "Common stock equity investment" as of any date shall consist of equity investment as of such date less the aggregate par value of all issues of preferred stock outstanding on such date.

Composite percentage shall be computed as of the last day of each month ("the computation date"), and for any month the composite percentage shall be that computed as of the last day of the previous month. "Composite percentage" as of a computation date shall be the sum of (i) fifteen percent (15%) multiplied by the ratio which the equity investment with respect to the Unit, as of such date, is to the total capital as of such date; plus (ii) the "effective interest rate" per annum of each principal amount of long-term debt outstanding on such date for money borrowed with respect to the Unit (including the amount of Connecticut Yankee's obligation to the U.S. Department of Energy in regard to disposal of prior spent nuclear fuel and associated high level radioactive material which is included in net Unit investment), multiplied by the ratio which such principal amount is to total capital as of such date; plus (iii) the "effective dividend rate" per annum of each series of preferred stock outstanding as of such date with respect to the Unit multiplied by the ratio which the amount at which such preferred stock would be reflected on a balance sheet of Connecticut Yankee is to total capital as of such date. The "effective interest rate" of each principal amount of long-term debt referred to in clause (ii) will reflect the annual interest requirements and to the extent applicable, amortization of issuance expenses and discounts and premiums and sinking fund call premiums, and expenses and discounts, refunding and retirement expenses and discounts and premiums, and all other expenses applicable to the issue of such indebtedness. The "effective dividend rate" of each series of preferred stock referred to in clause (iii) will reflect the annual dividend requirements, and to the extent applicable, amortization of issuance expenses and discounts and premiums, sinking fund call premiums and expenses and discounts, refunding and retirement expenses and discounts and premiums, and all other expenses applicable to each such issue of preferred stock.

More Definitions of Composite percentage

Composite percentage shall be computed as of the Effective Date and as of the last day of each month thereafter (the "computation date") and for any month the composite percentage shall be that computed as of the most recent computation date. "Composite percentage" as of a computation date shall be the sum of (i) the equity percentage as of such date multiplied by the percentage which equity investment as of such date is of the total capital as of such date, plus (ii) the stated interest rate per annum of each principal amount of indebtedness (other than the Decommissioning Borrowing) bearing a particular rate of interest outstanding on such date for money borrowed from persons other than Purchasers multiplied by the percentage which such principal amount is of total capital as of such date. "Equity percentage" as of any date shall be whatever percentage may be authorized from time to time by FERC. "Common stock equity investment" as of any date shall consist of equity investment as of such date less the aggregate par value of all issues of preferred stock outstanding on such date.

Composite percentage shall be computed as of the plant completion date and as of the last day of each month thereafter (the "computation date") and for any month the composite percentage shall be that computed as of the last day of the previous month. "Composite percentage" as of a computation date shall be the sum of (i) nine and eight-tenths percent (9.8%) multiplied by the percentage which equity investment with respect to the Unit (other than equity investment for the financing of fuel inventory, including nuclear materials and the cost of fabrication thereof, for the Unit) as of such date is of the total capital as of such date; plus (ii) the "effective interest rate" per annum of each principal amount of indebtedness outstanding on such date for money borrowed with respect to the Unit (other than for money borrowed for the financing of fuel inventory, including nuclear materials and the cost of fabrication thereof, for the Unit), multiplied by the percentage which such principal amount is of total capital as of such date. The "effective interest rate" of each principal amount of indebtedness referred to in clause (ii) of the next preceding sentence will reflect the annual interest requirements and to the extent applicable, amortization of issue expenses, discounts and premiums, sinking fund call premiums, expenses and discounts, refunding and retirement expenses, discounts and premiums, and all other expenses applicable to the issue.