Interest compensation definition

Interest compensation means an amount of money calculated at the av- erage of the Federal Funds rates pub- lished by the Federal Reserve Bank of New York for each of the days for which interest compensation is pay- able, divided by 360. The Federal Funds rate for any day on which a published rate is not available is the same as the published rate for the last preceding day for which there is a published rate. (pp) Contractual branch, with respect to a bank, means a branch of another bank that accepts a deposit on behalfof the first bank.(qq) Claimant bank means a bank that submits a claim for a recredit for a substitute check to an indemnifying bank under § 229.55.(rr) Collecting bank means any bank handling a check for forward collec- tion, except the paying bank.(ss) Consumer means a natural person who—
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Interest compensation means, in respect of a Debenture to be issued under a Debenture Series otherwise than on the last Business Day of the previous Interest Period, an amount equal to the Allocated Income for each calendar month since the commencement of the current Interest Period, divided by the number of Debentures outstanding under such Debenture Series during such calendar month.
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Interest compensation means, with respect to any prepayment of a Term Loan, an amount equal to the remainder of (a) the present value at the date of such prepayment of (i) 102% of the principal amount of such prepayment plus (ii) the aggregate amount of interest that would accrue on an amount equal to the principal amount so prepaid during the period from the date of prepayment to the first anniversary of the Effective Time at a rate per annum equal to 10.75%, discounted to the date of prepayment at a rate per annum equal to 4.75% (and in all cases assuming a year of 360 days and actual days elapsed) minus (b) the principal amount of such prepayment.
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Examples of Interest compensation in a sentence

  • Consistent with Policy GP37 Conflict of Interest, compensation decisions are made free of conflict of interest.

  • Conflict of InterestConsistent with Policy AM 04-2 Conflict of Interest, compensation decisions are made free of conflict of interest.

  • Interest compensation is paid monthly.Effective as of 3 April 2020.

  • Any Financial Interest, compensation, gifts or remuneration re- ceived in exchange for attending any meetings for the purpose of listening to sales information, or reviewing product training or education (so-called “detailing”), or in exchange for ordering or prescribing (so-called “tying”), or for changing an order or prescription (so-called “switching”) of a product is prohibited.

  • Interest compensation will not be paid for the period from the date of Acceptance until the Settlement Date.

  • OFFER DOCUMENT Interest compensation will neither be paid for the period from the date of acceptance until the Settlement Date, nor will interest compensation be paid to the Acceptants if the Offer Period is extended.

  • Interest compensation will not be paid for the period from the date of acceptance until the Settlement Date, nor will interest compensation be paid to the Acceptants if the Offer Period is extended.

  • Interest compensation will be credited to your cash balance on a quarterly basis.

  • Residents must take steps to protect and care for their personal property.

  • Any Financial Interest, compensation, gifts or remuneration received in exchange for attending any meetings for the purpose of listening to sales information, or reviewing product training or education (so-called “detailing”), or in exchange for ordering or prescribing (so-called “tying”), or for changing an order or prescription (so-called “switching”) of a product is prohibited.


More Definitions of Interest compensation

Interest compensation. In the event of a check disbursement or wire payment error in which a shareholder has lost interest due to a misrouting of the proceeds, except where the Transfer Agent is the responsible party, the Transfer Agent will pay interest compensation to the shareholder only upon receipt of reimbursement of such interest earnings from the bank that benefited in error from the misrouted payment. In cases where the Transfer Agent is at fault, payment of interest compensation to the shareholder will not be delayed. GAIN/LOSS REPORTING AND TRACKING The Transfer Agent tracks the responsibility for all gains and losses generated by "as-of" transactions. The Transfer Agent may also prepare detailed explanations of "as-of" activity, primarily for internal process improvement purposes. Additionally, a daily/weekly/monthly gain/loss report can be made available to designated individuals at the Funds. DATED: APRIL ___, 2003 SCHEDULE D PERFORMANCE STANDARDS
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Interest compensation means, with respect to any Term Loan on any date of prepayment, an amount equal to the sum of (a) 3.0% of the principal amount of such Term Loan prepaid, plus (b) the present value at the date of such prepayment of all required interest payments due on such Loan through the 180th day after the Amendment No. 1 Effective Date (excluding accrued but unpaid interest to the date of such prepayment and applying the interest rate then applicable to Eurodollar Rate Loans, giving effect to any increases in the Applicable Rate which have occurred through the date of such prepayment) discounted to the date of prepayment on a quarterly basis (assuming a 360-day year and actual days elapsed) at a per annum rate equal to such then applicable interest rate for Eurodollar Rate Loans.
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Interest compensation has the meaning given to it in Clause 3.1 (D);
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Related to Interest compensation

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • 415 Compensation means:

  • Compensation Limit means the compensation limit of Section 401(a)(17) of the Code, as adjusted under Section 401(a)(17)(B) of the Code for increases in the cost of living.

  • Final compensation of a member means:

  • Basic Compensation means Salary and Benefits.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Additional Compensation has the meaning set out in Section 13.3(1).

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Average final compensation means the average annual creditable compensation of a member during

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.