Distribution and Interest Amount Clause Samples
The 'Distribution and Interest Amount' clause defines how and when interest or other distributions are calculated and paid to relevant parties under an agreement. Typically, it outlines the method for determining the amount of interest accrued on funds held, the frequency of payments, and the parties entitled to receive such distributions. This clause ensures transparency and fairness in the allocation of financial returns, preventing disputes over payment timing or calculation methods.
Distribution and Interest Amount. (i) INTEREST RATE. The "INTEREST RATE" will be with respect to the Base Currency, the Effective Federal funds rate in US$ published on Telerate Page 118 for the relevant day at the close of business in New York on such day, or any successor page and if for any reason Telerate Page 118 should be unavailable the Interest Rate shall be such rate as agreed between the parties reflecting the then prevailing market rate. In the event that the parties agree that Eligible Credit Support may include currencies other than the Base Currency, the "INTEREST RATE" with respect to each such currency shall be such rate as may be agreed between the parties at the time that it is agreed that Eligible Credit Support may include such currency.
Distribution and Interest Amount. (i) INTEREST RATE. The "INTEREST RATE" will be, with respect to the Base Currency, such rate as may be agreed between the parties from time to time, and subject to confirmation from Moody's that it shall not affect the then current ratings of the Series 2
Distribution and Interest Amount. (i) INTEREST RATE. The "INTEREST RATE" will be, with respect to the Base Currency, such rate as may be agreed between the parties from time to time, and subject to confirmation from Moody's that it shall not affect the then current ratings of the Series 1 Class A1 Master Issuer Notes. In the event that the parties agree that Eligible Credit Support may include currencies other than the Base Currency, the "INTEREST RATE" with respect to each such currency shall be such rate as may be agreed between the parties at the time that it is agreed that Eligible Credit Support may include such currency and subject to confirmation from Moody's that it shall not affect the then current ratings of the Series 1 Class A1 Master Issuer Notes.
Distribution and Interest Amount