Interest Equivalents Clause Samples
The Interest Equivalents clause defines what types of financial instruments or accounts are considered equivalent to cash interest for the purposes of a contract. Typically, this includes items such as certificates of deposit, time deposits, or other short-term, highly liquid investments that earn interest and can be readily converted to cash. By specifying what qualifies as an interest equivalent, the clause ensures clarity in financial calculations and prevents disputes over what assets can be treated as cash or interest-bearing for contractual obligations.
Interest Equivalents. The Distribution Equivalent Rights Award Agreement for a Distribution Equivalent Rights Award may provide for the crediting of interest on a Distribution Rights Award to be settled in cash at a future date (but in no event later than by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company’s fiscal year in which such interest was credited), at a rate set forth in the applicable Distribution Equivalent Rights Award Agreement, on the amount of cash payable thereunder.
Interest Equivalents. The Board, acting pursuant to Section 3.7, shall determine the terms and conditions governing the issuance of such Additional Interests, including the number and designation of such Additional Interests, the preference (with respect to Distributions, in liquidation or otherwise) over any other membership interests and any required contributions in connection therewith. If an Additional Interest is issued in accordance herewith, the Board, acting pursuant to Section 3.7, shall redetermine the Percentage Interests, and the Secretary of the Company shall amend Schedule A without the further vote, act or consent of any other Person to reflect the issuance of such Additional Interest. Upon such amendment of Schedule A, such Member shall be issued his or its Additional Interest.
Interest Equivalents. Any Award under this Plan that is settled in whole or in part in cash on a deferred basis may provide in the grant for interest equivalents to be credited with respect to such cash payment. Interest equivalents may be compounded and shall be paid upon such terms and conditions as may be specified by the grant.
Interest Equivalents. Within 30 days following the last day of each Plan Year, the Committee will credit to each Participant's Account, as of the January 1 immediately following such Plan Year end, a dollar amount equal to the yield on one-year United States Treasury bills plus one percentage point, applied to the Participant's Account balance on the last day of the immediately preceding Plan Year. If amounts are to be 9 distributed to a Participant in the form of a single sum payment prior to the January 1 following the Plan Year during which the Participant is entitled to receive a distribution of his Plan Account, the Committee shall credit to the Participant's Account, a pro rata portion of the yearly interest equivalent through the date of such Participant's distribution.