Semiannual Rate Sample Clauses

Semiannual Rate. During any Semiannual Rate Period the Bonds will bear interest at the Semiannual Rate. During any Semiannual Rate Period, the Remarketing Agent will determine the Proposed Rate for the next Calculation Period on the Proposed Rate Determination Date. Thereafter, the Remarketing Agent will determine a Semiannual Rate for the next Calculation Period on the applicable Determination Date; provided, however, that such Semiannual Rate shall not be less than the Proposed Rate determined by the Remarketing Agent on the preceding Proposed Rate Determination Date. Each Semiannual Rate shall be the rate of interest per annum determined by the Remarketing Agent on and as of each applicable Determination Date as the minimum rate of interest per annum necessary, in the judgment of the Remarketing Agent taking into account market conditions prevailing on the Determination Date and subject to the foregoing proviso concerning the Proposed Rate, to enable the Remarketing Agent to arrange for the sale of all of the Bonds on the first day of the applicable Calculation Period in the secondary market at a price equal to the principal amount thereof (plus accrued interest to the date of settlement). If the Remarketing Agent fails to certify such rate or if, for any reason, the Semiannual Rate is held to be invalid or unenforceable by a court of competent jurisdiction for any Calculation Period, the Semiannual Rate for such Calculation Period shall be the Alternate Semiannual Rate (as defined in the Indenture). In connection with any change in the Interest Rate Determination Method to a Semiannual Rate pursuant to Section 203, the Proposed Rate shall be determined as provided above on the applicable Proposed Rate Determination Date and the initial Semiannual Rate shall be determined as provided above on the applicable Determination Date. Notwithstanding anything else contained herein, the Semiannual Rate shall not in any event exceed the lesser of (i) 15% per annum or (ii) the maximum rate permitted by law.
Sample 1
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Semiannual Rate. Periods shall (A) commence on a Semiannual Rate Conversion Date and on the first day of each sixth (6th) calendar month thereafter; and (B) end on the day preceding either the commencement date of the following Semiannual Rate Period or the Conversion Date on which a different type of Rate Period shall become effective.
Sample 1

Related to Semiannual Rate

  • Interest on Term Loan The Credit Agreement is hereby further amended by deleting ss.4.5.1. thereto in its entirety and substituting in lieu thereof the following new ss.4.5.1.:

  • Interest on Arrears 5.19.1 If the Tenant shall fail to pay the Rents or any other sum due under this Lease within 14 days of the date due whether formally demanded or not (save for Rent or any other sum the amount of which was tote notified by the Landlord who has failed to do so) the Tenant shall pay to the Landlord Interest (compounded on each quarter day) on the Rents or other sum from the date when they were due to the date on which they are paid and such Interest shall be deemed to be rents due to the Landlord

  • Interest on Term Loans The outstanding principal amount of each Term Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Term Loan is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time, and (ii) during such periods as such Term Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Margin in effect from time to time.

  • Interest on Late Payment 20.1 Where a sum is required to be paid under this agreement (other than under the Tax Covenant) but is not paid before or on the date the parties agreed, the party due to pay the sum shall also pay an amount equal to interest on that sum for the period beginning with that date and ending with the date the sum is paid (and the period shall continue after as well as before judgment).

  • Interest on Overdue Payments Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.

  • Interest on Late Payments With respect to any payment between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under Section 6621 of the Code from such due date to and including the payment date.

  • Interest Rate Subject to Section 2.5(b), the principal amount outstanding under the Revolving Line shall accrue interest a floating per annum rate equal to the greater of (i) one quarter of one percentage point (0.25%) above the Prime Rate, or (ii) three and one half percentage points (3.50%), which interest shall, in each case, be payable monthly in accordance with Section 2.5(d) below.”

  • Interest on the Term Loan Subject to the provisions of Section 2.8, the Term Loan shall bear interest as follows:

  • Interest on Advances Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower by each Bank from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Interest on Payments Any payment by the Receiver pursuant to Section 2.6(d) shall be made together with interest on the amount thereof that accrues with effect from five (5) Business Days after the date on which payment was agreed or determined to be due until such amount is paid. The annual interest rate shall be determined by the Receiver based on the coupon equivalent of the three (3)-month U.S. Treasury Xxxx Rate in effect as of the first Business Day of each Calendar Quarter during which such interest accrues as reported in the Federal Reserve Board Statistical Release for Selected Interest Rates H.15 opposite the caption “Treasury bills (secondary market), 3-Month” or, if not so reported for such day, for the next preceding Business Day for which such rate was so reported.

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