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, 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.
Examples of Taxable Rate in a sentence
As additional interest on the Series 2021 Bonds, the City shall pay to the Owners of any Outstanding Series 2021 Bonds, from the commencement date of any Event of Taxability to the maturity or prior redemption date of such Series 2021 Bonds, if the Event of Taxability is deemed retroactive to the Issuance Date, an amount equal to the Taxable Rate.
More Definitions of Taxable Rate
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, upon a Determination of Taxability, the interest rate per annum that shall provide the Bank with the same after tax yield that the Bank would have otherwise received had the Determination of Taxability not occurred, taking into account the increased taxable income of the Bank as a result of such Determination of Taxability. The Bank shall provide the City with a written statement explaining the calculation of the Taxable Rate, which statement shall, in the absence of manifest error, be conclusive and binding on the City.
Taxable Rate means, from and after the occurrence of a Determination of Taxability and as of any date of calculation, a per annum rate of interest equal to the product of the Direct Purchase Rate which otherwise would have been in effect for the Series 2020 D Bonds multiplied by 1.54.
Taxable Rate means the interest rate per annum that shall provide the Lender with the same after tax yield that the Lender would have otherwise received had the Event of Taxability not occurred, taking into account the increased taxable income of the Lender as a result of such Event of Taxability. The Lender shall provide the Borrower with a written statement explaining the calculation of the Taxable Rate, which statement shall, in the absence of manifest error, be conclusive and binding on the Borrower and the Authority.
Taxable Rate means _ % per annum.
Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Bond during such period and (ii) 1.54.
Taxable Rate means an interest rate calculated to provide Lessor with an after-tax yield equivalent to the yield provided to Lessor by the interest rate at which the interest component of Lease Payments on a Property Schedule was originally calculated.