Available Interest Commitment definition

Available Interest Commitment initially means $__________ (representing ___ days of interest at an annual rate of ___ per cent) and thereafter means such initial amount adjusted from time to time as follows: (a) downward by an amount that bears the same proportion to such initial amount as the amount of any reduction in the Available Principal Commitment pursuant to the definition of "Available Principal Commitment" bears to the initial Available Principal Commitment; and (b) upward by an amount that bears the same proportion to such initial amount as the amount of any increase in the Available Principal Commitment pursuant to the definition of "Available Principal Commitment" bears to the initial Available Principal Commitment.

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Available Interest Commitment means, and in no event shall it exceed, $5,547,946. which constitutes two hundred seventy (270) days of interest at ten percent (10%) on the maximum Available Principal Commitment calculated on the basis of actual number of days and a 365-day year, such initial amount adjusted from time to time as follows:

Available Interest Commitment initially means $ which initial amount equals days’ interest on the initial amount of the Available Principal Commitment based upon an assumed rate of interest of % per annum and a -day year. The Available Interest Commitment shall be adjusted from time to time as follows (a) downward by an amount that bears the same proportion to such initial amount as the amount of any reduction in the Available Principal Commitment in accordance with clause (a) or (b) of the definition herein of “Available Principal Commitment” bears to the initial Available Principal Commitment and

Examples of Available Interest Commitment in a sentence

The aggregate principal amount of the Variable Rate Bonds purchased by the Corporation on any Purchase Date shall not exceed the Available Principal Commitment on such date and the aggregate amount of the Purchase Price comprising interest on Variable Rate Bonds purchased by the Corporation on any Purchase Date shall not exceed the lesser of (1) the Available Interest Commitment and (2) the actual amount of interest accrued and unpaid on such Variable Rate Bonds to but excluding such date.
The aggregate Interest Component of all Advances made on any date shall equal the lesser of (i) the Available Interest Commitment on such date and (ii) the actual aggregate amount of interest, if any, accrued on the Commercial Paper Notes to be paid with the proceeds of such Loan.
The aggregate Interest Component of all Revolving Loans made on any date shall equal the lesser of (i) the Available Interest Commitment on such date and (ii) the actual aggregate amount of interest, if any, accrued on the Commercial Paper Notes to be paid with the proceeds of such Loan.
The Interest Component of the Purchase Price so to be paid for Series 2016 Bonds on the First Initial Bonds Remarketing Date shall not exceed the Available Interest Commitment (calculated, in each case, without giving effect to any purchase of Series 2016 Bonds by a Purchaser on such date) at 11:00 a.m. (New York time) on such First Initial Bonds Remarketing Date.
The aggregate principal amount of the Bonds purchased by the Corporation on any Purchase Date shall not exceed the Available Principal Commitment on such date and the aggregate amount of the Purchase Price comprising interest on Bonds purchased by the Corporation on any Purchase Date shall not exceed the lesser of (1) the Available Interest Commitment and (2) the actual amount of interest accrued and unpaid on such Bonds to but excluding such date.

More Definitions of Available Interest Commitment

Available Interest Commitment means, and in no event shall it exceed, $4,438,357 which constitutes ninety (90) days of interest at twelve percent (12%) on the maximum Available Principal Commitment calculated on the basis of actual number of days and a 365 day year, such initial amount adjusted from time to time as follows: (a) downward in an amount equal to the Interest Component of any Loan; (b) upward in an amount equal to the Interest Component of any Loan that is repaid, pursuant to the terms of Section 2.03 or 2.07; and (c) downward by an amount that bears the same proportion to the Available Interest Commitment immediately prior to such reduction as the amount of any reduction in the Commitment bears to the Commitment immediately prior to such reduction; provided, however, that after giving effect to any such adjustment the Available Interest Commitment shall never exceed $4,438,357. Any adjustments pursuant to clause (a), (b) or (c) above shall occur simultaneously with the event requiring such adjustment.

Available Interest Commitment initially means DOLLARS ($ ) (an amount equal to [thirty six] ([36]) days’ interest on the Bonds, computed as if the Bonds bore interest at the rate of twelve percent (12.0%) per annum on the basis of a 365/366-day year and actual days elapsed, and thereafter means such amount adjusted from time to time as follows: (a) downward by an amount that bears the same proportion to such amount as the amount of any reduction in the Available Principal Commitment pursuant to the definition of “Available Principal Commitment” bears to the Available Principal Commitment prior to such reduction; and (b) upward by an amount that bears the same proportion to such amount as the amount of any increase in the Available Principal Commitment pursuant to clause (c) of the definition of “Available Principal Commitment” bears to the Available Principal Commitment prior to such increase; provided, that after giving effect to such adjustment the available interest commitment shall never exceed DOLLARS

Available Interest Commitment initially means $ and thereafter means such initial amount adjusted from time to time as follows: (a) downward by an amount that bears the same proportion to such initial amount as the amount of any reduction in the Available Principal Commitment pursuant to the definition of "Available Principal Commitment" bears to the initial Available Principal Commitment; and (b) upward by an amount that bears the same proportion to such initial amount as the amount of any increase in the Available Principal Commitment pursuant to the definition of "Available Principal Commitment" bears to the initial Available Principal Commitment.

Available Interest Commitment means an amount equal to $5,659,639 (which amount is equal to the highest interest on the 2006B Remarketed Bonds for a period of 184 days based upon an assumed rate of interest of 10% per annum and a 365 day year for the actual number of days elapsed, provided that if interest on the 2006B Remarketed Bonds is converted to a Term Rate Mode of one year or longer, the Available Interest Commitment shall be based on a 360-day year composed of 30-days months rather than a 365 day year for the actual days elapsed) in any case as such amount shall be adjusted from time to time as follows:

Available Interest Commitment means an amount equal to 34 days of interest on the Available Prinëipal Commitment calculated at an assumed rate of interest of 12% per annum (on the basis of actual days elapsed and a year of 365/366 days). The Available Interest Commitment shall increase or decrease concurrently and proportionately with each increase or decrease in the A vaIlable Principal Commitment. In no event shall the Available Interest Commitment exceed $558,905.

Available Interest Commitment initially means the amount set forth opposite the name of the Bank as its "Interest Commitment" on the signature pages hereof on the Effective Date, which amount is equal to ___ days of interest distributable in respect of the aggregate principal amount of the Certificates, calculated at the rate of [18]% per annum and on the basis of the actual number of days elapsed in a year of 360 days, and thereafter means such initial amount adjusted from time to time as follows: (a) downward by an amount that bears the same proportion to such initial amount as the amount of any reduction in the Available Principal Commitment pursuant to the definition of "Available Principal Commitment" bears to the initial Available Principal Commitment and (b) upward by an amount that bears the same proportion to such initial amount as the amount of any increase in the Available Principal Commitment pursuant to clause (c) of the definition of "Available

Available Interest Commitment initially means $918,000 (calculated on the basis of an assumed rate of 12% per annum for 45 days on the initial Available Principal Commitment) and thereafter means such amount adjusted from time to time as follows: