Lump Sum Interest Rate definition

Lump Sum Interest Rate means, as of any specific date, the sum of one-twelfth (1/12th) of each GATT Interest Rate for the twelve (12) consecutive months beginning with the thirteenth (13th) month preceding the month during which such date occurs.
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Lump Sum Interest Rate means, as of any specific date, the sum of one-twelfth (1/12th) of each GATT Interest Rate for the twelve consecutive
Sample 1Sample 2
Lump Sum Interest Rate means, as of any specific date:
Sample 1Sample 2

Examples of Lump Sum Interest Rate in a sentence

  • Lump sum amounts shall be determined by using the Lump Sum Interest Rate and the Lump Sum Mortality Table.

  • Notwithstanding the preceding sentence, the interest rate for those Vested Participants who elected to participate in The Hershey Company 2005 Enhanced Mutual Separation Plan for E-Grade Employees (the "EMSP") or The Hershey Company 2005 Early Retirement Plan for E-Grade Employees (the "ERP for E-Grade Employees") shall be an interest rate equal to (i) the Lump Sum Interest Rate as of December 31, 2005 or (ii) the prevailing Lump Sum Interest Rate as of the date of the Vested Participant’s retirement.

  • Such payment shall be calculated using: (i) the mortality table set forth in Revenue Ruling 2001-62, 2001-53 I.R.B. 632, and (ii) an interest rate equal to the Lump Sum Interest Rate as of the date of the Vested Participant’s Separation from Service or death.

  • If the Committee, in its sole discretion, determines that the benefit payable to a Vested Participant covered under the EMSP or ERP for E-Grade Employees using the Lump Sum Interest Rate as of December 31, 2005 exceeds the benefit otherwise payable under this Plan by $500, the excess shall be paid in a lump sum cash payment as soon as administratively practicable following the date of retirement or death.

  • The lump sum cash payment that is otherwise payable to a Key Employee under Section 6.a., and the monthly annuity payments that are otherwise payable to a Key Employee under Section 6.c., shall accrue interest during the Waiting Period at a rate equal to the Lump Sum Interest Rate.

  • The lump sum cash payment that is otherwise payable to a Key Employee under Section 6.a. shall accrue interest during the Waiting Period at a rate equal to the Lump Sum Interest Rate.


More Definitions of Lump Sum Interest Rate

Lump Sum Interest Rate means the discount rate used for the Company’s financial disclosure purposes under Financial Accounting Standards Statement No. 158 for the December 31 prior to or coincident with the Participant’s Retirement Date.
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Related to Lump Sum Interest Rate

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Capped Interest Rate is defined in the Note, if applicable.

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Class E Interest Rate means 5.02% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Late Payment Rate As defined in the Insurance Agreement.

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Class A-1 Interest Rate means 0.48000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • LIBOR Interest Rate means the rate per year (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) determined by CNB to be the quotient of (a) the LIBOR Base Rate divided by (b) one minus the Eurocurrency Reserve Requirement for the Interest Period; which is expressed by the following formula: LIBOR Base Rate

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Applicable Interest Rate means (i) with respect to any Fixed Rate Indebtedness, the fixed interest rate applicable to such Fixed Rate Indebtedness at the time in question, and (ii) with respect to any Floating Rate Indebtedness, either (x) the rate at which the interest rate applicable to such Floating Rate Indebtedness is actually capped (or fixed pursuant to an interest rate hedging device), at the time of calculation, if Borrower has entered into an interest rate cap agreement or other interest rate hedging device with respect thereto or (y) if Borrower has not entered into an interest rate cap agreement or other interest rate hedging device with respect to such Floating Rate Indebtedness, the greater of (A) the rate at which the interest rate applicable to such Floating Rate Indebtedness could be fixed for the remaining term of such Floating Rate Indebtedness, at the time of calculation, by Borrower’s entering into any unsecured interest rate hedging device either not requiring an upfront payment or if requiring an upfront payment, such upfront payment shall be amortized over the term of such device and included in the calculation of the interest rate (or, if such rate is incapable of being fixed by entering into an unsecured interest rate hedging device at the time of calculation, a fixed rate equivalent reasonably determined by Administrative Agent) or (B) the floating rate applicable to such Floating Rate Indebtedness at the time in question.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Note Interest Rate means a per annum rate equal to 0.02% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.