Federal Funds Rate Advance definition
Examples of Federal Funds Rate Advance in a sentence
The unpaid principal amount of each Federal Funds Rate Advance shall bear interest prior to maturity at a rate per annum equal to the Federal Funds Rate plus the Applicable Federal Funds Rate Margin.
Each Federal Funds Rate Advance shall be in an amount that is an integral multiple of $500,000.
The criteria for selecting the final alignment included traffic demand/ridership, accessi- bility and integration with existing public transport nodes, available right of way within major roads, ground conditions, capital and operating costs, availability of land for the depot and sta- tions, as well as minimum disturbance/ avoidance of heritage structures.
While such Advance is a Federal Funds Rate Advance, a rate per annum equal at all times to the sum of the Federal Funds Rate in effect from time to time plus the Applicable Margin for Federal Funds Rate Advances, payable quarterly in arrears on the last Business Day of each March, June, September and December and on the date such Advance shall be Converted or such principal repaid.
If the Company shall fail to notify the Bank of the continuation of any Eurodollar Rate Advance within the time required by this Section, such Advance shall, on the last day of the Interest Period applicable thereto, automatically be converted into a Federal Funds Rate Advance of the same principal amount.