Actual/Actual (ISMA) definition

Actual/Actual (ISMA) means a calculation in accordance with the definition of “Actual/Actual” adopted by the International Securities Market Association (“ISMA”), which means that interest is calculated on the following basis:

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Actual/Actual (ISMA). Fixed Day Count Convention means:

Actual/Actual (ISMA) means the actual number of days in the Fixed Rate Payer Calculation Period in respect of which payment is being made divided by the number of days in the Determination Period in which it falls;

Examples of Actual/Actual (ISMA) in a sentence

Unless otherwise specified in the Pricing Supplement, if this Note is denominated in a Specified Currency other than U.S. dollars, interest will be computed on the basis of the Actual/Actual (ISMA) Fixed Day Count Convention.
Actual/Actual (ISMA) for the period from and including to but excluding .
Interest payments for the 2020 Senior Notes shall be computed and paid on an Actual/Actual (ISMA) day fraction basis.
Whenever it is necessary to compute any amount of interest in respect of the Notes, other than with respect to regular semi-annual payments, such interest shall be computed on the basis of Actual/Actual (ISMA).
Actual/Actual (ISMA) refers to Actual/Actual as set forth in Rule 251 of the statutes, by-laws, rules and recommendations of the International Securities Market Association (ISMA) as published in April 1999 and as applied to straight and convertible notes issued after December 31, 1998.
Interest payments for the 2024 Senior Notes shall be computed and paid on an Actual/Actual (ISMA) day fraction basis.
Actual/Actual (ISMA) for the period from and including ____ to but excluding _____.
Interest on the Series 2006-1A-7_ Senior Notes during the initial Reset Period and during any subsequent Reset Period when the Series 2006-1A-7_ Senior Notes bear a fixed rate of interest and are denominated in a currency other than U.S. Dollars will be calculated in accordance with the Actual/Actual (ISMA) Accrual Method, or another Day Count Basis as may be established on the related Remarketing Terms Determination Date.
The Company shall pay interest on overdue principal and overdue installments of interest, if any from time to time, calculated on an Actual/Actual (ISMA) day count fraction basis (giving effect to the actual payment date for such overdue principal and overdue installments of interest), on demand at the interest rate borne by the Notes to the extent lawful.
Unless otherwise specified in the applicable Pricing Supplement, interest on Fixed Rate Notes denominated other than in U.S. dollars will be computed on the basis of the "Actual/Actual (ISMA)" Fixed Day Count Convention.

More Definitions of Actual/Actual (ISMA)

Actual/Actual (ISMA) means, in respect of any period, the number of days in the relevant period, from (and including) the first day in such period to (but excluding) the last day in such period, divided by the number of days in the Regular Period in which the relevant period falls; and

Actual/Actual (ISMA) means that interest on the Global Security will be calculated on the basis of (a) the actual number of days in the period from and including the last Interest Payment Date (or the issue date of the Global Security with respect to the first Interest Payment Date) to but excluding the Interest Payment Date on which the interest payment falls due divided by (b) the product of (x) the actual number of days in the period from and including the last Interest Payment Date (or the issue date of the Global Security with respect to the first Interest Payment Date) to but excluding the Interest Payment Date on which the interest payment falls due and (y) the number of Interest Payment Dates per year.

Actual/Actual (ISMA) is specified in the applicable Pricing Supplement: (i) if the Calculation Period is equal to or shorter than the Determination Period during which it falls, the number of days in the Calculation Period divided by the product of (B) the number of days in such Determination Period and (A) the number of Determination Periods normally ending in any year; and (ii) if the Calculation Period is longer than one Determination Period, the sum of: (A) the number of days in such Calculation Period falling in the Determination Period in which it begins divided by the product of (aa) the number of days in such Determination Period and (ab) the number of Determination Periods normally ending in any year; and (B) the number of days in such Calculation Period falling in the next Determination Period divided by the product of (aa) the number of days in such Determination Period and (ab) the number of Determination Periods normally ending in any year where:

Actual/Actual (ISMA) means the number of days from (and including) the date on which interest begins to accrue during the relevant Calculation Period to (but excluding) the date on which interest falls due, divided by the actual number of days in the relevant Calculation Period.