Taxable Rate definition

Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Loan during such period and (ii) 1.54.

Taxable Rate means an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any payment date would, after such interest was reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.

Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Bonds during such period and (ii) 1.54.

Examples of Taxable Rate in a sentence

Any Series 2019A and Series 2019B Bonds so held shall thereupon constitute Series 2019A and Series 2019B Credit Facility Bonds and shall, from the date of such tender and while they are Series 2019A and Series 2019B Credit Facility Bonds, bear interest at the rate provided for herein (i.e., the Purchaser Rate, the Taxable Rate or the Default Rate, as applicable), and have other characteristics of Series 2019A and Series 2019B Credit Facility Bonds as set forth herein and in the Ordinance.
As used herein, "Taxable Period" shall mean the period of time between (a) the date that interest on the Series 2021 Bonds is deemed to be included in the gross income of the owner thereof for federal income tax purposes as a result of a Determination of Taxability, and (b) the date of the Determination of Taxability and after which the Series 2021 Bonds bear interest at the Taxable Rate.

Taxable Rate means, for each day that the interest component of Rental Payments is taxable for Federal income tax purposes, an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any Rental Payment Date would, after such interest was reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.

Taxable Rate means a rate of interest equal to the lesser of twelve percent (12.0%) per annum or a rate per annum that is two percent (2%) in excess of the Prime Rate, with changes in the Taxable Rate effective concurrently with each announced change in the Prime Rate.

Taxable Rate means, with respect to each Lease, for each day that the interest component of Rental Payments is taxable for Federal income tax purposes, an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any Rental Payment Date would, after such interest was reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.

Taxable Rate means % per annum.

Taxable Rate means, for each day during a Taxable Period, a rate of interest per annum equal to the product of (i) the interest rate on the Bonds for such day and (ii) 1.54.

Taxable Rate means an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any payment date would, after such interest is reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.