Examples of Initial Fixed Rate Period in a sentence
Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.0025 or 0.00125 9.999999 ARMs Only Where ARM Round Flag = 1, 2, or 3 >= 0 and < 1 45 Initial Fixed Rate Period For hybrid ARMs, the period between the first payment date of the mortgage and the first interest rate adjustment date.
On expiry of the Initial Fixed Rate Period applicable to each series of Class C LP Units, and each five-year period thereafter, each such series of Class C LP Units is redeemable at par (together with all accrued and unpaid payments thereon) at the option of the Partnership or the holder, upon giving at least 120 days’ prior notice.
During the five-year period beginning immediately following the completion of the Initial Fixed Rate Period, and each five-year period thereafter, if not redeemed, the fixed payment rate for Class C LP Units will be reset, and the holders of Class C LP Units will be entitled, subject to certain conditions, to elect either a fixed rate or floating rate option.
Interest during the Initial Fixed Rate Period shall be calculated on the basis of a 360-day year divided into twelve months of 30 days each and, in the case of an incomplete month, on the basis of the actual number of days elapsed in such period.
Initial Fixed Rate Period Interest on the Notes during the initial fixed rate period will be calculated on the basis of a 360-day year consisting of twelve 30-day months and, in the case of an incomplete month, on the basis of the actual number of days elapsed in such period.