Lending Income definition

Lending Income means (A) amounts earned from securities lending activities (for the avoidance of doubt, prior to payment of compensation to BTC), consisting of income earned on the investment and reinvestment of Cash Collateral plus any Securities Loan Fees otherwise paid by the Borrowers after deducting (B) the sum of (x) any Rebate due to the Borrowers under the applicable Securities Lending Agreement with the Borrowers and (y) applicable Cash Management Costs, if any. BTC has agreed to cap Cash Management Costs on an annualized basis to 0.05% of the daily value of the Cash Collateral; such cap, which may be raised or reduced upon mutual agreement between BTC and the Board of the Company, may be effected through caps of expenses incurred by a joint account, fund or similar vehicle in which Cash Collateral is invested or, to the extent such cap does not reduce Cash Management Costs to the agreed-upon percentage, through a waiver of fees received by BTC pursuant to this Agreement. BTC and the Board of the Company have further agreed that for the period from January 1, 2014 through December 31, 2014, BTC shall waive the Cash Management Costs on an annualized basis to 0.04% of the daily value of the Cash Collateral. The BTC Fund of Funds Fee Percentage shall be such percentage as may from time to time be agreed upon by the Board of the Company and BTC and shall be set forth in writing. Effective as of January 1, 2014, the BTC Fund of Funds Fee Percentage is twenty five percent (25%); provided, however, that if at any point during a calendar year, the sum of the (A) Lending Income earned by a Fund and the other Funds in the Lending Complex from the lending of their securities plus (B) aggregate Cash Management Costs paid by the Fund and the other Funds in the Lending Complex (collectively, the “Aggregate Lending Income and Cash Management Costs”), exceeds the Lending Income earned by the Lending Complex from the lending of Securities during calendar year 2013 (“2013 Lending Income”), from the next Business Day after the date that the Aggregate Lending Income and Cash Management Costs exceeds the 2013 Lending Income until December 31 of such calendar year, the BTC Fund of Funds Fee Percentage shall be reduced to twenty percent (20%).
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Lending Income means income of a kind mentioned in section 412C(3);
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Lending Income and “2013 Lending Income” have the meanings set forth in Section 5.6(a)(i) of this Agreement.
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Examples of Lending Income in a sentence

  • If the Portfolio's aggregate Net Securities Lending Income for any calendar month shall be a negative amount, the fee payable by the Portfolio for such month pursuant to this Paragraph 2 shall be zero, and an amount equal to 40% of such negative Net Securities Lending Income shall be carried forward and applied against future fees earned by Subadviser pursuant to this Paragraph 2 for a period not to exceed 3 calendar months.

  • The Trust, on behalf of the Portfolio, shall pay Subadviser a monthly fee equal to 40% of the Portfolio's aggregate Net Securities Lending Income (as defined below) attributable to the securities lending activities conducted by Subadviser on the Portfolio's behalf.

  • For securities lending transactions collateralized by securities or a letter of credit, the Portfolio's aggregate Net Securities Lending Income attributable to such transactions for such month shall be equal to (I) the securities lending fees paid by the borrower to the Portfolio in respect of such transactions, less (II) any rebates, commissions or similar fees paid by the Portfolio in respect of such transactions.

  • This Trust shall be known as “GuideMark Alternative Lending Income Fund” and the Board of Trustees shall conduct the business of the Trust under that name, or any other name as it may from time to time designate.

  • Examples of these types of transactions are: · Sweep Transfer Letters · Accrued Sweep Interest · Manager/Bank Fees Securities Lending Income HNB will be responsible for notifying the Fund and The Fund’s Service Provider of any securities lending income that is posted to their account as part of the Activity Reconciliation Process described earlier.

  • Examples of these types of transactions are: o Sweep Transfer Letters o Accrued Sweep Interest o Manager/Bank Fees Securities Lending Income HNB will be responsible for notifying the Fund and Unified Fund Services of any securities lending income that is posted to their account as part of the Activity Reconciliation Process described earlier.

  • GUIDEMARK ALTERNATIVE LENDING INCOME FUND By: By: Name: Name: Title: Title: Schedule A to the Investment Advisory Agreement between GuideMark Alternative Lending Income Fund and AssetMark, Inc.

  • Xxxxxxxxxxx Xx., XX-XX-S302 Milwaukee, WI 53212 Attn: Xxx Xxxxxx Phone: 000-000-0000 Fax: 000-000-0000 Notice to the Fund shall be sent to: Muzinich Corporate Lending Income Fund, Inc.

  • Examples of these types of transactions are: • Sweep Transfer Letters • Accrued Sweep Interest • Manager/Bank Fees Securities Lending Income HNB will be responsible for notifying the Fund and The Fund’s Service Provider of any securities lending income that is posted to their account as part of the Activity Reconciliation Process described earlier.

  • All notices to the Company shall be delivered to Muzinich Corporate Lending Income Fund, Inc., 000 Xxxx Xxxxxx, Xxx Xxxx, XX 00000, Attention: Legal Department or email xxxxx@xxxxxxxx.xxx with a copy to xxxxxx@xxxxxxxx.xxx.


More Definitions of Lending Income

Lending Income and “iShares Complex Breakpoint” have the meanings set forth in Section 5.6(a)(i) of this Agreement.
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Lending Income and “2017/2018 Lending Income” have the meanings set forth in Section 5.6(a)(i) of this Agreement.
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Lending Income means income of a kind mentioned in section 412C(3); “relevant year” has the meaning given by section 412C(1)(b).
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Related to Lending Income

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.

  • Earnings from Operations for any period means net earnings excluding gains and losses on sales of investments, extraordinary items and property valuation losses, as reflected in the financial statements of the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Net Income (Loss) of any Person means, for any period, the Consolidated net income (or loss) of such Person and its Subsidiaries for such period on a Consolidated basis as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (or loss), by excluding, without duplication, (i) all extraordinary gains or losses (exclusive of all fees and expenses relating thereto), (ii) the portion of net income (or loss) of such Person and its Subsidiaries on a Consolidated basis allocable to minority interests in unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by such Person or one of its Subsidiaries, (iii) net income (or loss) of any Person combined with such Person or any of its Subsidiaries on a “pooling of interests” basis attributable to any period prior to the date of combination, (iv) any gain or loss, net of taxes, realized upon the termination of any employee pension benefit plan, (v) net gains (or losses) (except for all fees and expenses relating thereto) in respect of dispositions of assets other than in the ordinary course of business, (vi) the net income of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders, (vii) any gain arising from the acquisition of any securities, or the extinguishment, under GAAP, of any Indebtedness of such Person, (viii) transaction costs charged in connection with the Refinancing, or (ix) amortization of intangible assets of such Person and its Subsidiaries on a consolidated basis under GAAP.

  • Funds From Operations shall have the meaning determined from time to time by the National Association of Real Estate Investment Trusts to be the meaning most commonly used by its members.

  • Median income means the median income by household size for the applicable housing region, as adopted annually by COAH or a successor entity approved by the Court.

  • EBIT means earnings before interest and taxes.

  • Step Up Margin means the rate per annum specified in the applicable Final Terms; and

  • Hedged Margin for CFD trading shall mean the necessary margin required by the Company so as to open and maintain Matched Positions.

  • Moderate Income means more than 50 percent but less than 80

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Net Income means, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends.