Fixed Rate Option definition
Fixed Rate Option means any of the Fixed Rate Options defined in Paragraph 3.02 hereof.
Fixed Rate Option shall have the meaning indicated in the particular Note for a Loan.
Fixed Rate Option. MINIMUM INTEREST CREDITING RATE: [3.0%] GUARANTEE PERIODS AND INITIAL INTEREST RATES AS OF THE ISSUE DATE: INITIAL ADDITIONAL ONE-YEAR INTEREST CREDITING RATE FOR GUARANTEE PERIODS INITIAL INTEREST RATE THE GUARANTEE PERIOD SHOWN [1 year X% X% 2 years X% X% 3 years X% X% 4 years X% X% 5 years X% X% 6 years X% X% 7 years X% X% 8 years X% X% 9 years X% X% 10 years X% X%] SCHEDULE (CONTINUED) THE ADDITIONAL INTEREST CREDITING RATE VARIES BASED UPON THE GUARANTEED PERIOD YOU ELECT, BUT IS CREDITED FOR ONE YEAR ONLY, BEGINNING ON THE DATE YOU ALLOCATE A PURCHASE PAYMENT, OR PART OF ONE, TO A FIXED RATE OPTION. THE INITIAL INTEREST RATE CREDITED WILL BE [0.15%] LESS THAN THE RATE THAT WOULD BE CREDITED IF THE ANNUITY DID NOT CONTAIN AN INITIAL ADDITIONAL ONE-YEAR INTEREST CREDITING RATE. THIS REDUCTION IN THE INTEREST RATE WILL REMAIN IN EFFECT THROUGHOUT THE ACCUMULATION PERIOD. THE INTEREST RATE WILL NOT BE LESS THAN THE MINIMUM INTEREST CREDITING RATE SHOWN ABOVE. PLEASE NOTE THAT THE GUARANTEE PERIODS AND CORRESPONDING INITIAL INTEREST RATES SHOWN ARE THOSE YOU SELECTED AT THE ISSUE DATE OF THIS ANNUITY. WE MAY OFFER DIFFERENT GUARANTEE PERIODS OF DIFFERENT DURATION AFTER THE ISSUE DATE. THE INITIAL INTEREST RATES SHOWN ARE EFFECTIVE ONLY AS OF THE ISSUE DATE. THE INTEREST RATES FOR NEW FIXED RATE OPTIONS MAY BE CHANGED PERIODICALLY.] [MVA OPTION: MINIMUM INTEREST CREDITING RATE: 3.0% GUARANTEE PERIODS AND INITIAL INTEREST RATE AS OF THE ISSUE DATE:
Examples of Fixed Rate Option in a sentence
Borrower shall provide Lender irrevocable Notice of pricing of a Loan Segment using a Fixed Rate Option by 10:00 a.m. Spokane time on the Pricing Date.
Any amounts not paid under the Operative Agreements by Borrower when due shall bear interest at the Past-Due Rate (calculated on the basis of a year of 360 days and actual number of days elapsed or if the Fixed Rate Option has been elected under Section 4.5, on the basis of a year of 360 days consisting of twelve 30-day months), and shall be payable on demand.
The rate of interest under Fixed Rate Option may be reviewed and re-set by the Bank on completion of each Block Period of 5 years.
Borrower provides Lender Notice that Loan principal priced under a Fixed Rate Option is to be repriced or prepaid on other than a Pricing Date, after which Borrower revokes such Notice or fails to prepay pursuant to the Notice.
If Borrower exercises the Fixed Rate Option, the aggregate Commitment shall be reduced to the amount specified in Section 2 of Schedule 2 of this Agreement.
More Definitions of Fixed Rate Option
Fixed Rate Option defined in Section 4.5 of the Loan Agreement.
Fixed Rate Option described in Section 4.5 of the Loan Agreement. GAAP: generally accepted accounting principles as set forth in the statements of financial accounting standards issued by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants, as varied by any applicable financial accounting rules or regulations issued by the SEC or the Public Company Accounting Oversight Board, and applied on a basis consistent with prior periods except as may be disclosed in the pertinent Person’s financial statements. GEES Acknowledgment and Agreement: the acknowledgment and agreement of GE Engine Services, Inc. to the collateral assignment contemplated by Granting Clause (2) of the Mortgage and the agreement of Borrower as to certain matters addressed therein, substantially in the form attached to the Loan Agreement as Exhibit F. Governmental Entity: (1) any national government, political subdivision thereof, or local jurisdiction therein; (2) any instrumentality, board, commission, court, or agency of any thereof, however constituted; and (3) any association, organization, or institution of which any of the above is a member or to whose jurisdiction any thereof is subject. GTA: General Terms Agreement No. CFM-03-0017, dated June 30, 2003, by and between Engine Manufacturer and Borrower including all exhibits thereto. Holdings: AirTran Holdings, Inc., a Nevada corporation.
Fixed Rate Option as used herein shall mean the one-time option of the Borrower to have interest computed hereunder on the basis of an interest rate per annum equal to two and one-half percent (2.50%) per annum above the "Fixed Rate" (as hereinafter defined) (the "Adjusted Fixed Rate") for a period of three, four or five years (the "Fixed Rate Period"). The "Fixed Rate" shall be the fixed rate of interest quoted by the Lender for the outstanding principal balance hereunder for the remainder of the term hereunder. Upon expiration of the Fixed Rate Period, the principal amount outstanding hereunder shall then immediately bear interest at the Adjusted Base Rate for the balance at the term hereof, if any.
Fixed Rate Option means any of the Fixed Rate Options defined in Paragraph 4.02 hereof.
Fixed Rate Option means each Term SOFR Rate Option.
Fixed Rate Option means for each of the Banks the fixed annual percentage rate determined from time to time pursuant to the provisions of Section 2.5(a) of this Agreement.
Fixed Rate Option shall have the meaning given in Section 3.1(b)(ii).