Interest Equivalent definition

Interest Equivalent means a yield on a 360-day basis of a discount basis security which is equal to the yield on an equivalent interest-bearing security.

Interest Equivalent has the meaning set forth in the definition of “‘AA’ Financial Composite Commercial Paper Rate.”

Interest Equivalent means an additional amount to be credited to a Cash Account calculated in accordance with Section 7(a)(ii).

Examples of Interest Equivalent in a sentence

• The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

• If the Reference Rate is not quoted on an interest basis but is quoted on a discount basis, the Auction Agent shall convert the quoted rate to an Interest Equivalent, as set forth in paragraph 1 of the Articles Supplementary; or, if the rate obtained by the Auction Agent is not quoted on an interest or discount basis, the Auction Agent shall convert the quoted rate to an interest rate after consultation with the Company as to the method of such conversion.

• The undersigned further agrees that until the Subsequent closing occurs or is abandoned, the undersigned may not transfer, convey, or assign its Member Interest or Member Interest Equivalent and any such transfer, assignment or conveyance shall be null, void and ineffective.

• However, the Employee shall not be entitled to the Interest Equivalent for any years prior to such termination, and such Interest Equivalent shall not be included in determining Employee’s benefit hereunder.

• As of the last day of each fiscal quarter and the Eligible Director’s Service Termination Date, the Eligible Director’s Cash Account will be credited with an Interest Equivalent equal to (i) the Rate of Interest, multiplied by (ii) the Average Daily Cash Balance, multiplied by (iii) the number of days during the fiscal quarter or other period during which such Cash Account had a positive balance, divided by (iv) 365.

More Definitions of Interest Equivalent

Interest Equivalent means a yield on a 3 60-day basis of a discount basis security which is equal to the yield on an equivalent interest-bearing security.

Interest Equivalent means the entry in a Deferred Compensation Account of an interest credit with respect to a Cash Unit, compounded on the basis of the balance in the Participant’s Deferred Compensation Account, applying the interest factor approved by the Committee each year for such purpose.

Interest Equivalent of a rate stated on a discount basis for commercial paper of a given number of days' maturity shall mean a number equal to the quotient (rounded upward to the next higher one-thousandth (0.001) of 1%) of (1) such rate expressed as a decimal, divided by (2) the difference between (x) 1.00 and (y) a fraction, the numerator of which shall be the product of such rate expressed as a decimal, multiplied by the number of days in which such commercial paper shall mature and the denominator of which shall be 360.

Interest Equivalent means a right granted to a Grantee under Section 6(g) to receive cash, which may be deferred or paid currently, equal to the interest which would be earned on a specified amount of money, including money deferred in a Deferred Cash Account. Interest Equivalents may be awarded on a free-standing basis or in connection with another Award, and may be paid currently or on a deferred basis. Unless the Committee otherwise provides to the contrary or except as otherwise provided in the Plan, Interest Equivalents paid on a deferred basis will be compounded on a quarterly basis.

Interest Equivalent means a yield on a 360–day basis of a discount basis security which is equal to the yield on an equivalent interest–bearing security.

Interest Equivalent means any security or obligation that is by its terms directly or indirectly convertible into or exchangeable or exercisable for Interests or other equity securities of the Company, and any option, warrant or other subscription or purchase right with respect to Interests or such other equity securities of the Company.

Interest Equivalent means the equivalent yield on a 360-day basis of a discount basis security to an interest-bearing security.