tiered interest definition

tiered interest means you will earn different rates of interest depending on the balance of your account.
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tiered interest means a single interest rate applies to the entire balance of your account. When your balance reaches a higher tier, you will receive the highest interest rate for that tier on the entire balance of your account
Sample 1Sample 2Sample 3
tiered interest means you will earn different rates of interest depending on the balance of your account. One interest rate will apply to the entire balance of your account but that rate will depend upon the amount of your balance. When your balance reaches a higher interest tier you will receive the interest rate for that tier on the entire balance of your account. For example:
Sample 1

More Definitions of tiered interest

tiered interest is defined in Section 7.01.
Sample 1
tiered interest means you will earn different rates of interest depending on the balance of your account. One interest rate will apply to the entire balance of your account but that rate will depend upon the amount of your balance. When your balance reaches a higher tier you will receive the interest rate for that tier on the entire balance of your account. For example:if the rate of interest is 0.05% p.a. where the account balance is less than $2,000 and 1.5% p.a. where the account balance is $2,000 or more; andyour account balance is $3,000,the rate of interest applying to the entire balance of your account will be 1.5% p.a.
Sample 1

Related to tiered interest

  • Offered Interest has the meaning set forth in Section 11.2.1.

  • Imputed Interest means any interest imputed under Section 1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer’s payment obligations under this Agreement.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • REO Imputed Interest As to any REO Property, for any calendar month during which such REO Property was at any time part of REMIC I, one month's interest at the applicable Net Mortgage Rate on the Stated Principal Balance of such REO Property (or, in the case of the first such calendar month, of the related Mortgage Loan, if appropriate) as of the close of business on the Distribution Date in such calendar month.

  • registered interest means an international interest, a registrable non-consensual right or interest or a national interest specified in a notice of a national interest registered pursuant to Chapter V;

  • Paired Interest means one Class C Paired Interest or one Class D Paired Interest, as applicable.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Required Interest shall have the meaning specified in the Standard Terms.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Compounded Interest shall have the meaning set forth in Section 4.1.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Vested Interest means a Participant’s nonforfeitable interest in his or her Account, determined in accordance with Article V.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Purchased Interest means, at any time, the undivided percentage ownership interest in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage interest shall be computed as:

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Accreted Interest Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues.

  • Current Class B-5 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the Principal Balance of the Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-5 Fractional Interest.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.