Credited Interest Rate definition

Credited Interest Rate means, for each Plan Year, the rate of return equal to Moody's Monthly Average of Yields of Aa Corporate Bonds, as published by Moody's Investors Service, Inc., for the month of July immediately preceding such Plan Year. If such rate (or any alternative rate described in this sentence) is at any time no longer available, the Plan Administrator shall designate an alternative rate which in the Plan Administrator's reasonable judgment is generally comparable to the rate described in the preceding sentence, and such alternative rate shall thereafter be the Credited Interest Rate.
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Credited Interest Rate. The interest rate credited to the Contract by the Company for any given Guarantee Period in the MVA Account or the Fixed Account. The Credited Interest Rates for the available Guarantee Periods for the Fixed Account and the MVA Account are shown on the Contract Schedule.
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Credited Interest Rate means the annual equivalent of the interest rate credited to the Guaranteed Principal Account.
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Examples of Credited Interest Rate in a sentence

  • The Plan Administrator then shall apply the Credited Interest Rate for such Plan Year to such Participant's adjusted Interest Income Subaccount (as determined in subparagraph (i) hereof), and the total amount of investment earnings resulting therefrom shall be credited to such Participant's Interest Income Subaccount as of such Valuation Date.

  • When Great-West moved for summary judgment contesting fiduciary status, it argued that “[t]he evidence shows that” when it changes the Credited Rate, “participants, not Great-West, have the ‘final say’ on whether any Credited Interest Rate will apply to their investments in the [KGPF].” Aplt.

  • Great-West contended that this was so because participants who have invested in the KGPF “can reject any new Credited Interest Rate by transferring their accounts out of the [KGPF] at any point, without penalty.” Id.; see also id.

  • The provisions of this Ordinance arise from the need to limit, restrict and control auction, garage and yard sales.

  • The interest rate applied to the Loan Account will never be less than the Guaranteed Minimum Loan Account Credited Interest Rate shown in the Policy Specifications.

  • During the thirty (30) days prior to the end of a current Guarantee Period, the Certificate Owner may renew for the same or any other Guarantee Period then available at the then Credited Interest Rate or may elect to transfer all or a portion of the amount to a Fixed Account option, if available, or to the Variable Account.

  • This account is credited (or debited) with interest at the Credited Interest Rate and is debited with taxes as appropriate.

  • The Credited Interest Rate of this new Certificate may be higher or lower than the Credited Interest Rate of any other Certificate or Deposit.

  • The Credited Interest Rate of this Deposit may be higher or lower than the Credited Interest Rate of any other Deposit.

  • ILLUSTRATION SNAPSHOTAnnuitant (Age): Valued Client (65)Premium: $100,000.00Agent Name: Valued Agent + Annual Effective Rate over first 10 years.^ Reflects the maximum MVA.* Credited Interest Rate does not reflect Strategy Fees.


More Definitions of Credited Interest Rate

Credited Interest Rate means the rate of interest specified in Schedule A.
Sample 1
Credited Interest Rate. The interest rate credited to the Contract by the Company for any given Guarantee Period in the MVA Account and the Fixed Account. The Credited Interest Rates for the available Guarantee Periods for the MVA Account and the Fixed Account are shown on the Contract Schedule. ELIGIBLE FUND: An investment entity that is made available for this Contract. FIXED ACCOUNT: An investment option within the General Account. FIXED ANNUITY: A series of payments made during the Annuity Period which are guaranteed as to dollar amount by the Company. GENERAL ACCOUNT: The Company's general investment account which contains all the assets of the Company except for the Variable Account and other segregated asset accounts. GUARANTEE PERIOD: The period for which the credited Interest Xxxx is credited in the MVA Account. Each deposit or transfer to the MVA Account creates one or more new Guarantee Period(s). The Guarantee periods selected by the Owner are shown on the Contract Schedule. MARKET VALUE ADJUSTMENT: An adjustment to the amount withdrawn or transferred from an MVA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period. MVA ACCOUNT: A separate account which provides investment options where the Company guarantees the rate of interest for a specified Guarantee Period and where withdrawals or transfers may be subject to a Market Value Adjustment.
Sample 1
Credited Interest Rate means the interest rate declared by the Board at the beginning of each plan year pursuant to its power in section 5(e):
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Credited Interest Rate. The interest rate credited to the Contract by the Company for any given Guarantee Period in the MVA Account or the Fixed Account. The Credited Interest Rates for the available Guarantee Periods for the Fixed Account and the MVA Account are shown on the Contract Schedule. EFFECTIVE DATE: The Effective Date of a Guarantee Period with a Credited Interest Rate. ELIGIBLE FUND: An investment entity shown on the Contract Schedule. FIXED ACCOUNT: An investment option within the General Account. FIXED ANNUITY: A series of payments made during the Annuity Period which are guaranteed as to dollar amount by the Company. GENERAL ACCOUNT: The Company's general investment account which contains all the assets of the Company with the exception of the Variable Account and other segregated asset accounts. GUARANTEE PERIOD: The period for which the Credited Interest Rate is credited in either the MVA Account or the Fixed Account. Each deposit or transfer to the MVA Account creates one or more new Guarantee Period(s). The Guarantee Periods selected by the Owner are shown on the Contract Schedule. MARKET VALUE ADJUSTMENT: An adjustment to the amount withdrawn or transferred from an MVA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period. MVA ACCOUNT: A separate account which provides investment options where the Company guarantees the rate of interest for a specified Guarantee Period and where withdrawals or transfers may be subject to a Market Value Adjustment. NET PURCHASE PAYMENT: A Purchase Payment less any applicable Premium Tax.
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Related to Credited Interest Rate

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Stated Interest Rate means with respect to (i) the Class AA Certificates, 3.15% per annum, (ii) the Class A Certificates, 3.50% per annum and (iii) the Class B Certificates, 3.85% per annum.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Capped Interest Rate is defined in the Note, if applicable.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Selected Interest Rates as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

  • Agreed Interest Rate means that interest rate determined as of the time it is to be applied that is equal to the lesser of (i) 5% in excess of the discount rate established by the Federal Reserve Bank of San Francisco as it may be adjusted from time to time, or (ii) the maximum interest rate permitted by Law.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

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

  • Class D Interest Rate means 3.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class E Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Assumed Interest Rate means the annual yield payable on the last day of the applicable Calculation Period on ten (10) year United States Treasury obligations in amounts approximating the outstanding principal balance of the Loan on the last day of the Calculation Period plus two hundred fifty (250) basis points per annum; provided, however, that the Assumed Interest Rate shall be not less than six percent (6.0%) per annum.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Class A-2a Interest Rate means 0.45% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.