AFR Rate means the fixed rate of return as of the date of the first Drawdown, equal to the applicable federal long-term rate under section 1274(d) of the Code, compounded annually, as determined in the good faith judgment of the General Partner, PROVIDED, that the General Partner may increase such fixed rate of return if, as of the date of any subsequent Drawdown, such fixed rate of return is less than the applicable federal rate under Section 1274(d) of the Code, compounded annually.
AFR Rate means the applicable federal interest rate determined in accordance with Section 1274 of the Code.
AFR Rate means 120% of the long term Applicable Federal Rate (as defined in the Code), compounded monthly, as in effect each month.
Examples of AFR Rate in a sentence
However, intra-family personal loans are subject to the IRS Minimum Federal Rate (AFR Rate), issued annually.
More Definitions of AFR Rate
AFR Rate means, with respect to any Fund, the fixed rate of return as of the date of the first capital call of such Fund, equal to the applicable federal long-term rate under section 1274(d) of the Code, compounded annually, as determined in the good faith judgment of the general partner of such Fund, PROVIDED that the general partner of such Fund may increase such fixed rate of return if, as of the date of any subsequent capital call of such Fund, such fixed rate of return is less than the applicable federal rate under section 1274(d) of the Code, compounded annually.
AFR Rate means the rate of interest established from time to time by the Secretary of the United States Department of the Treasury pursuant to section 724(d) of the Internal Revenue Code of 1986.
AFR Rate means the applicable federal rate published from time to time by the Department of Treasury, as determined on the Effective Date and on each anniversary date thereafter.
AFR Rate means the fixed rate of return equal to the long-term "applicable federal rate" (within the meaning of section 1274(d) of the Code and the Treasury Regulations thereunder), compounded semi-annually, as of the date of the first Initial Closing.
AFR Rate is defined in Section 6.2B.
AFR Rate means the applicable federal rate for “mid-term” loans in effect as of the date on which the Community Center Parcel and Public Community Center are accepted by City, as published by the Internal Revenue Service pursuant to section 1274(d) of the Internal Revenue Code. City shall pay the Community Center Reimbursement Payment in annual installments commencing on the September 1 immediately following City’s acceptance of dedication of the Community Center Parcel and Public Community Center and continuing annually thereafter on each September 1 until paid in full, provided that in no event shall full payment be made later than the ninth (9th) annual payment. Community Center Reimbursement Payments shall be applied first to payment accrued interest and second to payment of outstanding principal. Initially, City shall reimburse Developer out of City’s Capital Facilities Fee Fund. Developer acknowledges that City currently commits approximately One Million Dollars ($1,000,000.00) of Capital Facilities Fund revenues per year to payment of debt service on City’s outstanding certificates of participation indebtedness, and that City will pay to Developer in each annual installment the difference between the total amount of Capital Facilities Fee Fund revenue collected from capital facilities Impact Fees during the prior fiscal year and the amount of those Impact Fees used in the prior fiscal year to pay debt service on the certificates of participation indebtedness (including any refinancing of such certificate of participation indebtedness; provided the highest annual debt service of the refinancing obligation is not greater than $1,000,000.00) until the Community Center Reimbursement Payment is fully paid. Except as otherwise provided above with respect to City’s existing certificate of participation indebtedness and potential permitted refinancing of same, until such time as the Community Center Reimbursement Payment has been paid in full, City shall not obligate Capital Facilities Fee Fund revenues in any way that would create an obligation senior in priority to the Community Center Reimbursement Payment. In the event that annual payments from the Capital Facilities Fee Fund are insufficient to fully repay the Community Center Reimbursement Payment, City shall supplement the ninth (9th) annual payment (the “Final Community Center Reimbursement Payment”) from other City sources of funds sufficient to fully repay the Community Center Reimbursement Payment. City a...
AFR Rate means the minimum applicable federal rate in effect on the date of inception of the loan necessary to avoid the imputation of income and gift for federal income tax purposes.