Modified Duration definition

Modified Duration means, with respect to any Corporate Bond or U.S. Government Security, the quotient of (a) the weighted average term to maturity of the cash flows generated by such security divided by (b) the sum of (i) one plus (ii) the quotient of (A) the yield to maturity of such security divided by (B) the number of interest payments on such security per year. For the purposes of this calculation, the number of interest payments on any non-interest bearing Corporate Bonds or U.S. Zeroes is assumed to be two per year. With respect to a portfolio of Eligible Fixed-Income Investments, Modified Duration means an amount equal to the average of the Modified Duration of each such Eligible Fixed-Income Investment, weighted on the basis of the Market Values thereof.
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Modified Duration means an amount equal to the average of the Modified Duration of each such Eligible Fixed-Income Investment, weighted on the basis of the Market Values thereof.
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Modified Duration means, with respect to any Corporate Bond, U.S. Treasury Note, U.S. Treasury Zero, U.S. Agency Note, U.S. Agency Zero or U.S. Treasury Future on any Valuation Date, the quotient of (a) the weighted average term to maturity of the cash flows generated by such security (or, in the case of a U.S. Treasury Future, by the Cheapest-to-Deliver Bond with respect to such U.S. Treasury Future on such Valuation Date) divided by (b) the sum of (i) one plus (ii) the quotient of (x) the yield to maturity of such security (or, in the case of a U.S. Treasury Future, of the Cheapest-to-Deliver Bond with respect to such U.S. Treasury Future) divided by (y) the number of interest payments on such security per year (or in the case of a U.S. Treasury Future, on the Cheapest-to-Deliver Bond with respect to such U.S. Treasury Future). For the purposes of this calculation, the number of interest payments on any U.S. Treasury Zero is assumed to be two per year.
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More Definitions of Modified Duration

Modified Duration means, with respect to any fixed income security, the quotient of (a) the weighted average term to maturity of such security's cash flows divided by (b) the sum of (i) one plus (ii) one half of the security's current bond equivalent yield to maturity.
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Modified Duration means, with respect to any Corporate Bond, U.S. Treasury Zero or U.S. Treasury Future on any Valuation Date, the quotient of (a) the weighted average term to maturity of the cash flows generated by such security (or, in the case of a U.S. Treasury Future, by the Cheapest-to-Deliver Bond with respect to such U.S. Treasury Future on such Valuation Date) divided by (b) the sum of (i) one plus (ii) the quotient of (x) the yield to maturity of such security (or, in the case of a U.S. Treasury Future, of the Cheapest-to-Deliver Bond with respect to such U.S. Treasury Future) divided by (y) the number of interest payments on such security per year (or, in the case of a U.S. Treasury Future, on the Cheapest-to-Deliver Bond with respect to such U.S. Treasury Future). For the purposes of this calculation, the number of interest payments on any U.S. Treasury Zero is assumed to be two per year.
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Modified Duration means a quotient whose numerator is the Macaulay duration and whose denominator is the sum of one and the yield to maturity,
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Modified Duration means the modified duration (calculated to six decimal places) for a Ten-Year Treasury Rate.
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Modified Duration means, with respect to a Portfolio Asset, the modified duration of an interest rate hedge or swap agreement having the same weighted average maturity (as determined by the Investment Administrator in a commercially reasonable manner) as the Portfolio Asset. The Investment Administrator shall compute such modified duration using data from the "Receive Fixed" section of the "SWPM" page on the Bloomberg service for such interest rate hedge or swap agreement. In computing such modified duration, the Investment Administrator shall enter the following information into the input fields of the "Receive Fixed" section:
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Related to Modified Duration

  • Specified Duration means, with respect to any Floating Rate to be determined in accordance with a Screen Rate Determination on an Interest Determination Date, the duration specified in the relevant Final Terms or, if none is specified, a period of time equal to the relative Interest Accrual Period, ignoring any adjustment pursuant to Condition 5(c)(ii).

  • Modified Asset Any Serviced Loan as to which any Servicing Transfer Event has occurred and which has been modified by the Special Servicer pursuant to Section 3.24 of this Agreement in a manner that:

  • Modified Restructuring Maturity Limitation Date means with respect to a Reference Obligation, the date that is the later of (x) the Scheduled Maturity Date of the Notes and (y) 60 months following the Restructuring Date in the case of a Restructured Bond or Loan, or 30 months following the Restructuring Date in the case of all other Reference Obligations.

  • Modified Version of the Document means any work containing the Document or a portion of it, either copied verbatim, or with modifications and/or translated into another language.

  • Modified EDFR means a reference rate equal to the EDFR plus the EDFR Spread;

  • Range During Month or "(RDM)" as a sample type means the lowest and the highest values of all of the monitoring data for the reporting month.

  • Modified or related words shall have meanings correlative thereto.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Modified Net Mortgage Rate As to any Mortgage Loan that is the subject of a Servicing Modification, the Net Mortgage Rate minus the rate per annum by which the Mortgage Rate on such Mortgage Loan was reduced.

  • Maximum Emergency means the designation of all or part of the output of a generating unit for which the designated output levels may require extraordinary procedures and therefore are available to the Office of the Interconnection only when the Office of the Interconnection declares a Maximum Generation Emergency and requests generation designated as Maximum Emergency to run. The Office of the Interconnection shall post on the PJM website the aggregate amount of megawatts that are classified as Maximum Emergency.

  • Range During Sampling or "(RDS)" as a sample type means the maximum and minimum of all values recorded as a result of analyzing each grab sample of; 1) a Composite Sample, or, 2) a Grab Sample Average. For those Permittee with pH meters that provide continuous monitoring and recording, Range During Sampling means the maximum and minimum readings recorded with the continuous monitoring device during the Composite or Grab Sample Average sample collection.

  • Restructuring Maturity Limitation Date means, with respect to a Valuation Obligation, the Limitation Date occurring on or immediately following the Credit Observation End Date. Notwithstanding the foregoing, if the final maturity date of the Restructured Bond or Loan with the latest final maturity date of any Restructured Bond or Loan occurs prior to the 2.5-year Limitation Date (such Restructured Bond or Loan, a "Latest Maturity Restructured Bond or Loan") and the Credit Observation End Date occurs prior to the final maturity date of such Latest Maturity Restructured Bond or Loan, then the Restructuring Maturity Limitation Date will be the final maturity date of such Latest Maturity Restructured Bond or Loan.

  • Refinanced Term Loans shall have the meaning provided in Section 13.1.

  • Desired Due Date means the desired service activation date as requested by CLEC on a service order.

  • Acceleration Date means the earlier of the date of stockholder approval or approval by the Company's Board of Directors of (i) any consolidation or merger of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of Company Common Stock would be converted into cash, securities or other property, other than a merger of the Company in which stockholders of the Company immediately prior to the merger have the same proportionate ownership of stock in the surviving corporation immediately after the merger; (ii) any sale, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company; or (iii) any plan of liquidation or dissolution of the Company.

  • Mortgage Rate Caps With respect to an Adjustable Rate Mortgage Loan, the Periodic Mortgage Rate Cap, the Maximum Mortgage Rate, and the Minimum Mortgage Rate for such Mortgage Loan.

  • Refinanced and “Refinancing” shall have correlative meanings.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.

  • Declared weight means the total unladen weight of a vehicle plus the weight of the maximum load

  • Maximum Maturity means an obligation that has a remaining maturity of not greater than the period specified in the Standard (or if no such period is specified, thirty years);

  • Maximum Permissible Rate means, with respect to interest payable on any amount, the rate of interest on such amount that, if exceeded, could, under Applicable Law, result in (a) civil or criminal penalties being imposed on the payee or (b) the payee's being unable to enforce payment of (or, if collected, to retain) all or any part of such amount or the interest payable thereon.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Maximum Net Mortgage Rate With respect to any adjustable rate Mortgage Loan and any date of determination, the Maximum Mortgage Rate minus the sum of (i) the Subservicing Fee Rate and (ii) the Servicing Fee Rate. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Refinanced Debt has the meaning assigned to such term in the definition of “Credit Agreement Refinancing Indebtedness.”

  • Strike Priceprevious means the Strike Price applicable before the latest Reset Date and, if the latest Reset Date is the first Reset Date after the First Trading Date, the Initial Strike Price as defined under the definition of "Strike Price".