Official Rate definition

Official Rate. , in relation to interest, means the rate of interest applicable from time to time under section 178 of FA 1989 for the purposes of Chapter 7 of Part 3 of ITEPA 2003.
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Official Rate means in relation to any Advance, the taux de l'usure calculated by the Banque de France (as provided in Article L.313-3 of the French Code de la Consommation and implementing laws) and published in the Journal Officiel of the French Republic applicable to floating rate loans made for an initial duration exceeding two years for the quarter preceding that which such Advance is proposed to be made.
Sample 1
Official Rate means the official rate of interest used in the determination of taxable employment benefits, as prescribed by the Income Tax Act, 1962, as amended, replaced or re-enacted from time to time, being the reference rate in respect of employees of the Bank;
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Examples of Official Rate in a sentence

  • You agree that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • The Grantee agrees that the loan will bear interest at the then-current HM Revenue & Customs (“HMRC”) Official Rate, it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to in Section 13(a).

  • The Grantee agrees that the loan will bear interest at the then-current HM Revenue & Customs (“HMRC”) Official Rate, it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by deduction from cash amounts otherwise payable to the Grantee (including wages or other cash compensation).

  • The Grantee agrees that the loan will bear interest at the then-current HM Revenue & Customs (“HMRC”) Official Rate, it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to in Section 17(a).

  • You agree that the loan will bear interest at the then-current Official Rate of Her Majesty’s Revenue and Customs (“HMRC”), it will be immediately due and repayable, and Sun or the Employer may recover it at any time thereafter by any of the means referred to in the Withholding Taxes section of the Award Agreement.

  • The Grantee agrees that the loan will bear interest at the then-current Inland Revenue Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • Interest was charged on drawn amounts at Reserve Bank of Australia Official Rate (currently 1.75%) plus 4.25%, charged daily on drawn amounts and accrued monthly.

  • You agree that the loan will bear interest at the then-current HMRC Official Rate and that it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • Optionee agrees that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • The Executive agrees that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company may recover it at any time thereafter by any of the means referred to above.


More Definitions of Official Rate

Official Rate means, as of any date of determination, the MXN/USD FIX Rate published by Banco de México on such date.
Sample 1
Official Rate means the official rate of interest used in the Parties means you and us and Party means any one of us as the context may indicate; Prime Interest Rate means our publicly quoted basic rate of interest Principal Debt means the total amount owing to us at any time in Repayment means a payment made by you to us; Repayment Due Date means the due date for payment of all amounts due Service Fee means the fee levied by us in connection with the Settlement Date means the date on which all amounts due and Staff means an employee of any member of the Standard Bank Group; Statement means a document reflecting the transactions made Termination means that you, or we, may withdraw from this Transaction Account means an account that offers the ability to deposit, 2 Provision of financial information
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Official Rate means the official rate of interest used in the determination of taxable employment benefits, as prescribed by the Income Tax Act 58 of 1962, and all regulations promulgated in terms of this act, being the reference rate in respect of Staff (“Staff” means an employee of Standard Bank or the Group);
Sample 1
Official Rate means the official rate of interest as it is from time to time, used in the determination of taxable employment benefits, as prescribed by the Income Tax Act 58 of 1962, as amended, replaced or re-enacted from time to time, being the reference rate in respect of Staff (“Staff” means employees of the Bank or the Group);
Sample 1

Related to Official Rate

  • ANNUAL RATE ADJUST: MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE : LIFETIME RATE : 8.00000 MATURITY DATE : 01/01/27 CURRENT INT RATE: 8.00000 PRODUCT CODE : 002 LTV : 80.00000 ------------------------------------------------------------------ 0 0030726640 MORTGAGORS: TERRY THOMAS XXXXX DENISE REGION CODE XXXXXXX : 0 XXXXXXXX XXXX 01 CITY : AUSTIN STATE/ZIP : TX 78738 MORTGAGE AMOUNT : 000,050.00 OPTION TO CONVERT : UNPAID BALANCE : 264,872.15 ANNUAL RATE ADJUST: MONTHLY P&I : 1,944.85 OUTSIDE CONV DATE : LIFETIME RATE : 8.00000 MATURITY DATE : 01/01/27 CURRENT INT RATE: 8.00000 PRODUCT CODE : 002 LTV : 90.00000 ------------------------------------------------------------------ 0 0030726665 MORTGAGORS: FUSCO ARTHUR XXXXX JOELLEN REGION CODE XXXXXXX : 0000 XXXXXXXXXXX AVENUE 01 XXXX : XXX XXXXS STATE/ZIP : NV 89117 MORTGAGE AMOUNT : 000,000.00 OPTION TO CONVERT : UNPAID BALANCE : 349,398.20 ANNUAL RATE ADJUST: MONTHLY P&I : 2,629.43 OUTSIDE CONV DATE : LIFETIME RATE : 8.25000 MATURITY DATE : 12/01/26 CURRENT INT RATE: 8.25000 PRODUCT CODE : 002 LTV : 83.33300 ------------------------------------------------------------------ - **** PAGE TOTALS ***** NUM OF LOANS: 5 LOAN AMT: 1,399,950.00 P & I AMT: 10,333.61 UPB AMT: 1,398,004.37

  • Maximum Legal Rate means the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Note and as provided for herein or the other Loan Documents, under the laws of such state or states whose laws are held by any court of competent jurisdiction to govern the interest rate provisions of the Loan.

  • Final rate means an indirect cost rate applicable to a specified past period which is based on the actual allowable costs of the period. A final audited rate is not subject to adjustment.

  • Initial Rate means each rate of interest to be paid in an Initial Period as set forth in the Certificate.

  • Applicable Reference Rate means, collectively or individually, Term SOFR, Daily Compounded XXXXX, XXXXX or the EURIBOR Rate.

  • Reset Reference Rate means, in relation to a Reset Determination Date and subject to Condition 5(b)(iii) and Condition 5(c)(v), if applicable:

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Prime Rate Margin is one-half of one percent (0.50%).”

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Replacement Reference Rate means a reference rate which is:

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Offshore Rate means, for any Interest Period, with respect to Offshore Rate Loans comprising part of the same Borrowing, the rate of interest per annum (rounded upward to the next 1/16th of 1%) determined by the Agent as follows: Offshore Rate = LIBOR ------------------------------------ 1.00 - Eurodollar Reserve Percentage Where,

  • U.S. Treasury Note Rate on any date means (i) the yield as calculated by reference to the bid price quotation of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as such bid price quotation is published on the Business Day immediately preceding such date by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Note Rate on such date. "Alternate Treasury Note Rate" on any date means the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as determined by the bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

  • Offshore Base Rate means the rate per annum appearing on Telerate Page 3750 (or any successor page) as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period. If for any reason such rate is not available, the Offshore Base Rate shall be, for any Interest Period, the rate per annum appearing on Reuters Screen LIBO Page as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates. If for any reason none of the foregoing rates is available, the Offshore Base Rate shall be, for any Interest Period, the rate per annum determined by Agent as the rate of interest at which dollar deposits in the approximate amount of the LIBOR Rate Loan comprising part of such Borrowing would be offered by the Bank's London Branch to major banks in the offshore dollar market at their request at or about 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period.

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • GBP LIBOR means, in respect of a day, the rate for deposits in pounds sterling for a period of 12 months which appears on Bloomberg Page BP0012M INDEX for that day, or, if not available, ascertained from any other source as the Margin Loan Provider may deem appropriate

  • Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place:

  • Swap LIBOR With respect to any Distribution Date (and the related Accrual Period) the product of (i) the Floating Rate Option (as defined in the Swap Agreement for the related Swap Payment Date), (ii) two and (iii) the quotient of (a) the actual number of days in the Accrual Period for the Lower Tier REMIC Interests divided by (b) 30.

  • Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, nineteen hundred fifty (1,950) hours for seven and one-half (7-1/2) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;

  • U.S. Base Rate means, for any day, the rate of interest per annum equal to the greater of (a) the interest rate per annum publicly announced from time to time by the Administrative Agent as its reference rate in effect on such day at its principal office in Toronto for determining interest rates applicable to commercial loans denominated in U.S. Dollars in Canada (each change in such reference rate being effective from and including the date such change is publicly announced as being effective) and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.