Extension Rate definition

Extension Rate means, for each distribution date following a Failed Remarketing with respect to the class A-5 notes if such notes are then in foreign exchange mode, the rate of interest payable to the related currency Swap Counterparty, generally not to exceed three-month LIBOR plus 0.75%, unless the remarketing agent, in consultation with the administrator, determine that market conditions or some other benefit to the trust requires a higher rate; provided that in each case the Rating Agency Condition is satisfied.

Extension Rate means, for any Collection Period shall equal the percentage equivalent of a fraction the numerator of which is the aggregate Principal Balance of the Receivables that have been extended during such Collection Period and the denominator of which is the beginning of the period Aggregate Principal Balance.

Extension Rate means, for each Distribution Date following a Failed Remarketing if a class of Reset Rate Notes is then in Foreign Exchange Mode, the rate of interest payable to each related Currency Swap Counterparty, not to exceed Three-Month LIBOR plus 0.75%, unless the Remarketing Agents, in consultation with the Administrator, determine that market conditions or some other benefit to the Trust requires a higher rate; provided that in such case the Rating Agency Condition is satisfied. The initial Extension Rate for each class of Reset Rate Notes under the Initial Currency Swap Agreements is Three-Month LIBOR plus 0.75%.

Examples of Extension Rate in a sentence

• The “Actual Interest Amount” calculated in respect of the Net Tax Benefit for a Taxable Year will equal the amount of any Extension Rate Interest.

• If the Estimated Tax Benefit Payment for a Taxable Year exceeds the finally determined Tax Benefit Payment for such Taxable Year, such excess, along with an appropriate amount of Extension Rate Interest in respect of such excess (being charged by the Corporation to the Member), shall be applied to reduce the amount of any subsequent future Tax Benefit Payments (including Estimated Tax Benefit Payments, if any) to be paid by the Corporation to such Member.

• Customer TPPs that expire prior to January 11, 2008 may extend their service until January 11, 2008 utilizing the Monthly Extension Rate provision of the TPP.

• See 11 CFR 103.2 and Advisory Opinions 1980-39, 1976-25, copies enclosed.

• Subject to the provisions of this Agreement, the Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the Actual Tax Liability of Parent for such Taxable Year attributable to the Basis Adjustments, Imputed Interest and Extension Rate Interest, and the Inherited Tax Attributes as determined using a “with and without” methodology described in Section 2.6(a).

More Definitions of Extension Rate

Extension Rate means, for each distribution date following a Failed Remarketing with respect to a class of reset rate notes if such class is then in foreign exchange mode, the rate of interest payable to the related currency Swap Counterparty, generally not to exceed three-month LIBOR plus 0.75%, unless the remarketing agents, in consultation with the administrator, determine that market conditions or some other benefit to the trust requires a higher rate; provided that in each case the Rating Agency Condition is satisfied. The initial Extension Rate for each class of reset rate notes under each related initial class A-7A currency swap agreement is an annual rate equal to three-month LIBOR plus 0.75%.

Extension Rate means the “Addendum No. 5 ROFO Rate”;

Extension Rate means the “Addendum No. 5 Option Rate”;

Extension Rate means, with respect to any Distribution Date, the quotient of (x) the sum of the fractions, expressed as a percentage, for each of the three most recently ended Collection Periods, the numerator of which is the number of Receivables during the related Collection Period with respect to which the Principal Balance was extended, and the denominator of which is the number of Receivables at the commencement of the Collection Period divided by (y) three, provided that, with respect to each of the first and second Distribution Dates, the numerator and denominator of "Extension Rate" shall be computed only with respect to the Collection Periods ending after the Closing Date.

Extension Rate means, for each distribution date following a Failed Remarketing with respect to the class A-5 notes if such notes are then in foreign exchange mode, the rate of interest payable to the related currency Swap Counterparty, generally not to exceed three-month LIBOR plus 0.75% (or, for any reset period commencing on or after July 25, 2023, generally not to exceed the SOFR Rate plus 0.75%), unless the remarketing agent, in consultation with the administrator, determine that market conditions or some other benefit to the trust requires a higher rate; provided that in each case the Rating Agency Condition is satisfied.

Extension Rate means, for each ECP Note, the rate of interest per annum established under the Resolution for each weekly period from and after the Original Maturity Date.

Extension Rate means, for each Series 2021A ECP Note, the rate of interest per annum established under Section 2.2(g) for each weekly period from and after the Original Maturity Date.