Maximum Applicable Rate definition

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

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

Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws. “Maximum Potential Gross-Up Dividend Liability” means, as of any Valuation Date, the aggregate amount of Gross-Up Dividends that would be due if the Trust were to make Retroactive Taxable Allocations, with respect to any fiscal year, estimated based upon dividends paid and the amount of undistributed realized net capital gains and other taxable income earned by the Trust, as of the end of the calendar month immediately preceding such Valuation Date and assuming such Gross-Up Dividends are fully taxable.

Examples of Maximum Applicable Rate in a sentence

• The provisions of the immediately preceding sentence notwithstanding, at any time that the application of the provisions with respect to a Failure to Deposit would, but for the provisions of the immediately preceding sentence, result in a dividend rate on a share of Preferred Stock being in excess of the Maximum Applicable Rate per annum, the maximum dividend rate applicable to such share of Preferred Stock shall be such higher dividend rate as provided below.

• The Auction Agent will not round the applicable Reference Rate as part of its calculation of the Maximum Applicable Rate.

• Negotiated Rate or Rate Formula: Transporter and Shipper have mutually agreed that Shipper will pay the following Negotiated Rate: STATEMENT OF NEGOTIATED RATE (1, 2, 3, 4, 5, 6) Shipper Name: Freepoint Commodities LLC Contract Number: R-7250-37 Term of Agreement: November 1, 2021 – April 1, 2022 Rate Schedule: RTS Mainline Contract Demand (Dth/d): 5,000 Demand Rate ($/Dth/d): $42.4310 Commodity Rate: Maximum Applicable Rate Primary Receipt Point(s): Shelton A Primary Delivery Point(s): Milford B NOTES: 1.

• Such Notice of Percentage Increase shall specify the new Percentages to be used to calculate the Maximum Applicable Rate and shall be in substantially the form of Exhibit G to the Auction Agent Agreement.

• The Chief Financial Officer may not revoke a Notice of Percentage increase and the Percentages specified therein will be the applicable Percentages for the determination of the Maximum Applicable Rate with respect to such shares for subsequent Dividend Periods, except as described below, until a new Notice of Percentage Increase shall be delivered in accordance with the terms thereof.

More Definitions of Maximum Applicable Rate

Maximum Applicable Rate with respect to Preferred Shares, has the meaning set forth in Section 11.10(a)(vi) of these Bylaws.

Maximum Applicable Rate means, with respect to APS for any Dividend Period, the Applicable Percentage of the Reference Rate. The Auction Agent will round each applicable Maximum Applicable Rate to the nearest one-thousandth (0.001) of one percent per annum, with any such number ending in five ten-thousandths of one percent being rounded upwards to the nearest one-thousandth (0.001) of one percent.

Maximum Applicable Rate on any Auction Date, shall mean the rate per annum obtained by multiplying the Applicable Determining Rate on such Auction Date by a percentage determined as set forth below based on the lower of the credit ratings assigned to the Series G MAPS by Moody's and S&P (or if Moody's or S&P or both shall not make such rating available, the equivalent of either or both of such ratings by a Substitute Rating Agency or two Substitute Rating Agencies, as the case may be, or in the event that only one such rating shall be available, the percentage shall be based on such rating).

Maximum Applicable Rate for any Dividend Period will be the higher of the Applicable Percentage of the Reference Rate or the Applicable Spread Over the Reference Rate which term shall mean the rate equaling the sum of the Applicable Spread (as more particularly set forth below) plus the Reference Rate. The Applicable Percentage will be determined based on the credit rating assigned on such date to such shares by Fitch and Xxxxx'x (or if Fitch or Xxxxx'x shall not make such rating available, the equivalent of such rating by a Substitute Rating Agency) as follows: APPLICABLE PERCENTAGE APPLICABLE SPREAD XXXXX'X CREDIT RATINGS S&P/FITCH OF REFERENCE RATE OVER REFERENCE RATE ------- -------------- --------- ----------------- ------------------- Aaa AAA 125% 125 bps Aa3 to Aa1 AA- to AA+ 150% 150 bps A3 to A1 A- to A+ 200% 200 bps Baa3 to Baa1 BBB- to BBB+ 250% 250 bps Ba1 and lower BB+ and lower 300% 300 bps Assuming the Fund maintains an AAA/Aaa rating on the APS, the practical effect of the different methods used to calculate the Maximum Applicable Rate is shown in the table below: Maximum Applicable Maximum Applicable Rate Using the Rate Using the Method Used to Determine Applicable Percentage of Applicable Spread over the Maximum Applicable Reference Rate the Reference Rate the Reference Rate Rate -------------- ------------------ ------------------ ---- 1% 1.25% 2.25% Spread 2% 2.50% 3.25% Spread 3% 3.75% 4.25% Spread 4% 5.00% 5.25% Spread 5% 6.25% 6.25% Either 6% 7.50% 7.25% Percentage The Fund shall take all reasonable action necessary to enable Fitch and Xxxxx'x to provide a rating for each series of APS. If Fitch or Xxxxx'x shall not make such a rating available, Xxxxx Xxxxx Management or its affiliates and successors, after consultation with the Trust, shall select a nationally recognized statistical rating organization to act as a Substitute Rating Agency.

Maximum Applicable Rate. , as of any date, means the rate obtained by multiplying the Applicable Determining Rate then in effect for a Dividend Period by the Percentage (as it may be adjusted from time to time based on certain factors by the Chief Financial Officer in accordance with the provisions hereof) determined as set forth below based on the lower of the credit ratings assigned to the Preferred Stock by Moody's and S&P.

Maximum Applicable Rate as defined in the definition of “Applicable Margin”.

Maximum Applicable Rate means, on any date on which the Applicable Rate is determined, the rate equal to 150% of the applicable Reference Rate, subject to upward but not downward adjustment in the discretion of the Board of Directors after consultation with the Broker-Dealers, provided that immediately following any such increase the Corporation would be in compliance with the ATP Basic Maintenance Amount.