Alternate Variable Rate Basis Clause Samples

The Alternate Variable Rate Basis clause defines how interest or payment rates will be determined if the original variable rate reference becomes unavailable or inappropriate. In practice, this clause specifies a backup benchmark or calculation method, such as switching from LIBOR to another published rate, to ensure continuity in rate-setting. Its core function is to provide a clear and agreed-upon process for adjusting to changes in financial benchmarks, thereby reducing uncertainty and potential disputes between parties.
Alternate Variable Rate Basis. The Company may from time to time publish higher initial rates for variable payment plans under this Contract. These higher rates will not be available to increase payments under payment plans already in effect. When a variable payment plan is effective on an alternate rate basis, the Daily Adjustment Factor described in Section 11.3 will be determined based on the Assumed Investment Rate used in calculating the alternate payment rate. ▇▇.▇.▇.▇▇. (1106) 19 Years 1-4 Not Available 11 $ 9.09 21 $ 5.56 1 $ 83.52 11 $ 7.78 21 $ 4.18 Fixed income installment rates are based on 0.50% interest. ▇▇.▇.▇.▇▇. (1106) 20 55 $ 4.41 $ 4.36 $ 4.23 55 $ 4.04 $ 4.02 $ 3.96 56 4.49 4.44 4.29 56 4.10 4.08 4.01 57 4.58 4.52 4.35 57 4.17 4.14 4.07 58 4.67 4.60 4.41 58 4.24 4.21 4.12 59 4.77 4.69 4.47 59 4.31 4.28 4.18 60 4.87 4.79 4.54 60 4.39 4.36 4.24 61 4.98 4.89 4.60 61 4.48 4.44 4.31 62 5.10 4.99 4.67 62 4.57 4.52 4.37 63 5.23 5.11 4.74 63 4.66 4.61 4.44 64 5.36 5.22 4.81 64 4.77 4.71 4.51 65 5.51 5.35 4.87 65 4.88 4.81 4.58 66 5.67 5.47 4.94 66 5.00 4.92 4.66 67 5.84 5.61 5.00 67 5.12 5.03 4.73 68 6.02 5.75 5.07 68 5.26 5.15 4.80 69 6.21 5.89 5.13 69 5.41 5.28 4.88 70 6.41 6.05 5.19 70 5.57 5.42 4.95 71 6.63 6.20 5.25 71 5.74 5.56 5.02 72 6.86 6.36 5.30 72 5.93 5.71 5.09 73 7.11 6.53 5.35 73 6.13 5.87 5.16 74 7.37 6.70 5.39 74 6.34 6.04 5.23 75 7.65 6.87 5.44 75 6.58 6.22 5.29 76 7.96 7.05 5.47 76 6.83 6.40 5.34 77 8.28 7.23 5.51 77 7.11 6.59 5.39 78 8.63 7.40 5.54 78 7.40 6.78 5.44 79 9.01 7.58 5.56 79 7.72 6.98 5.48 80 9.41 7.76 5.59 80 8.07 7.18 5.52 81 9.84 7.93 5.61 81 8.45 7.38 5.55 82 10.30 8.10 5.62 82 8.86 7.58 5.58 83 10.79 8.27 5.63 83 9.30 7.78 5.60 84 11.31 8.42 5.64 84 9.78 7.98 5.62 85 and over 11.87 8.57 5.65 85 and over 10.30 8.16 5.63 55 $ 3.75 $ 3.89 $ 4.02 $ 4.14 $ 4.23 $ 4.29 $ 4.33 60 3.83 4.02 4.21 4.39 4.54 4.65 4.73 65 3.90 4.13 4.39 4.65 4.89 5.09 5.22 70 3.94 4.22 4.54 4.89 5.26 5.58 5.81 75 3.98 4.28 4.65 5.10 5.59 6.07 6.45 80 4.00 4.32 4.73 5.24 5.86 6.51 7.07 85 and over 4.01 4.34 4.77 5.34 6.04 6.84 7.58 The amount of the payment for any other combination of ages will be furnished by the Company on request. Monthly payment rates are based on an Assumed Investment Rate of 3.50% and the 1983 Table a with Projection Scale G. Mortality improvements are projected for 22 years plus the remaining life of the Annuitant. * See Section 11.9 ▇▇.▇.▇.▇▇. (1106) 21 55 $ 3.77 $ 3.74 $ 3.64 55 $ 3.48 $ 3.46 $ 3.41 56 3.85 3.82 3.70 56 3.54 3.52 3.47 57 3.9...
View SourceView Similar (16)
Alternate Variable Rate Basis. The Company may from time to time publish higher initial rates for variable payment plans under this contract. These higher rates cannot be used to increase payments under payment plans that have already started. When a variable payment plan is on an alternate rate basis, the Daily Adjustment Factor defined in Section 8.2 will be determined based on the Assumed Investment Rate used in calculating the alternate payment rate. PAYMENT RATE TABLES Monthly Income Payments Per $1,000 Contract Benefits First Payment Under Variable Payment Plan INSTALLMENT INCOME PLAN (OPTION B) -------------------------------------------------------------------------------- PERIOD MONTHLY PERIOD MONTHLY PERIOD MONTHLY (YEARS) PAYMENT (YEARS) PAYMENT (YEARS) PAYMENT -------------------------------------------------------------------------------- Years 1-4 11 $ 9.09 21 $ 5.56 Not Available 12 8.46 22 5.39 13 7.94 23 5.24 14 7.49 24 5.09 5 $ 18.12 15 7.10 25 4.96 6 15.35 16 6.76 26 4.84 7 13.38 17 6.47 27 4.73 8 11.90 18 6.20 28 4.63 9 10.75 19 5.97 29 4.53 10 9.83 20 5.75 30 4.45 -------------------------------------------------------------------------------- Guaranteed Fixed Payment Plans INSTALLMENT INCOME PLAN (OPTION B) -------------------------------------------------------------------------------- PERIOD MONTHLY PERIOD MONTHLY PERIOD MONTHLY (YEARS) PAYMENT (YEARS) PAYMENT (YEARS) PAYMENT -------------------------------------------------------------------------------- 1 $84.09 11 $8.42 21 $4.85 2 42.46 12 7.80 22 4.67 3 28.59 13 7.26 23 4.51 4 21.65 14 6.81 24 4.36 5 17.49 15 6.42 25 4.22 6 14.72 16 6.07 26 4.10 7 12.74 17 5.77 27 3.98 8 11.25 18 5.50 28 3.87 9 10.10 19 5.26 29 3.77 10 9.18 20 5.04 30 3.68 -------------------------------------------------------------------------------- NPV.1C.(0594) 12 PAYMENT RATE TABLES MONTHLY INCOME PAYMENTS PER $1,000 CONTRACT BENEFITS LIFE INCOME PLANS (Options C and E) ------------------------------------------------------------------- SINGLE LIFE MONTHLY PAYMENTS (Option C) ------------------------------------------------------------------- GUARANTEED FIXED PAYMENT OR FIRST PAYMENT UNDER VARIABLE PAYMENT PLAN ------------------------------------------------------------------- ADJUSTED CERTAIN PERIOD (YEARS) AGE* ZERO 10 20 ------------------------------------------------------------------- 55 $4.17 $4.14 $4.06 56 4.23 4.20 4.11 57 4.31 4.28 4.17 58 4.39 4.35 4.23 59 4.47 4.43 4.29 60 4.56 4.51 4.35 61 4.65 4.59 4.42 62 4.76 4.69 4.49 ...
View SourceView Similar (3)
Alternate Variable Rate Basis. The Company may from time to time publish higher initial rates for variable payment plans under this Contract. These higher rates will not be available to increase payments under payment plans already in effect.
View SourceView Similar (2)

Related to Alternate Variable Rate Basis

  • Interest Rate Basis Interest on this Note will be determined by reference to the applicable Interest Rate Basis or Interest Rate Bases, which may, as described below, include the CD Rate, the CMT Rate, the Commercial Paper Rate, the Constant Maturity Swap Rate, the Federal Funds Open Rate, the Federal Funds Rate, LIBOR, the Prime Rate or the Treasury Rate (each as defined below).

  • Alternate Base Rate Loans During such periods as Revolving Loans shall be comprised of Alternate Base Rate Loans, each such Alternate Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Alternate Base Rate plus the Applicable Percentage; and

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing: (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or (b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar Revolving Borrowing, such Borrowing shall be made as an ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted.

  • Variable Rate The initial ANNUAL PERCENTAGE RATE for Purchases is a fixed promotional rate as shown on page 1 of this Agreement and will remain in effect for your first six (6) billing cycles following the opening of your account ("Initial Rate Period for Purchases"). The Daily Periodic Rate during the Initial Rate Period for Purchases is 0%. After the Initial Rate Period for Purchases, the Daily Periodic Rate for Purchases based on the Current Index and Rate Spread described below will be .0493% and the corresponding ANNUAL PERCENTAGE RATE will be 18.00%. After the Initial Rate Period for Purchases, the ANNUAL PERCENTAGE RATE for Purchases will change to the current rate shown on page 1 of this Agreement. The ANNUAL PERCENTAGE RATE for transfers of account balances you have with another creditor ("Balance Transfers") is a fixed rate as shown on page 1 of this Agreement and will be in effect for eight (8) billing cycles following the opening of your account. The Daily Periodic Rate for Balance Transfers during the eight-billing cycle period is 4.99%. The Daily Periodic Rate for Balance Transfers after the eight-billing cycle period based on the Current Index and Rate Spread described below will be .0493% and the corresponding ANNUAL PERCENTAGE RATE will be 18.00%. The ANNUAL PERCENTAGE RATE for Balance Transfers after the eight-billing cycle period will change to the current rate shown on page 1 of this Agreement. The current Daily Periodic Rate for Purchases and Balance Transfers is .0493%. The Daily Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE may change (by increasing or decreasing) on the first day of each of your billing cycles that begin in March, June, September, and December. Each date on which the rate of interest could change is called a "Change Date." Changes will be based on changes in the "Index." The Index is the highest U.S. Prime Rate published in the "Money Rates" section of The Wall Street Journal on the last business day of the calendar month prior to the month in which the Change Date occurs. The most recent Index is called the “Current Index.” If the Index is no longer available, we will choose a new index based upon comparable information and will give you notice of our choice. Your interest rate for Purchases is based on a variable rate equal to the sum of the Current Index plus a "Rate Spread" of 12.99 percentage points. (The Rate Spread is also called the Margin.) Immediately before each Change Date we will determine the new interest rate for Purchases by adding the Rate Spread to the Current Index. For example, if the Current Index was 7.00% and the Rate Spread 12.99 percentage points, the ANNUAL PERCENTAGE RATE would be 18.00% and by dividing this percentage figure by 365, we would compute a Daily Periodic Rate of .0493%. The new interest rate for Purchases will become effective at the start of your first billing cycle after the Change Date. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate permitted by law. The effect of any increase in the ANNUAL PERCENTAGE RATE and the Daily Periodic Rate for Purchases would be to increase the amount of interest you must pay and thus increase your monthly payments.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.