Interest Bearing Account definition

Interest Bearing Account means an investment option to be made available to Participants in this Plan in which the Contributions attributed to this option are credited with interest at the Applicable Federal Rate.

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Interest Bearing Account means a credit balance in an interest bearing bank or securities account; “IRC” means the independent review committee of an ETF established under NI 81-107;

Interest Bearing Account means the investment account established under the Plan for bookkeeping purposes in which a Participant may elect to have his or her Participant Deferrals credited. Participant Deferrals invested for bookkeeping purposes in the Interest Bearing Account shall be credited with earnings as of each Determination Date which shall be based on the effective annual yield of the average of Moody's Average Corporate Bond Yield Index for the previous calendar month increased by 50 basis points. In the event that Moody's Investor Services Inc. ceases to publish such Index (or any successor publisher thereto) the Board, in its sole and absolute discretion, shall select a substantially similar index to be used in crediting earnings under the Interest Bearing Account.

Examples of Interest Bearing Account in a sentence

• All income earned from the aforementioned Permitted Investments shall be property of Borrower and Borrower hereby irrevocably authorizes and directs Lender (or Servicer on behalf of Lender) to hold any income earned from the aforementioned Permitted Investments as part of the applicable Interest Bearing Account.

• You may instruct Escrow Holder to deposit your funds into an interest bearing account by signing and returning the "Escrow Instructions - Interest Bearing Account", which has been provided to you.

• All income earned from the aforementioned Permitted Investments shall be property of ▇▇▇▇▇▇▇▇ and Borrower hereby irrevocably authorizes and directs Lender (or Servicer on behalf of Lender) to hold any income earned from the aforementioned Permitted Investments as part of the applicable Interest Bearing Account.

• The Interest Reserve Funds shall be held in an Interest Bearing Account.

• The Capital Expenditures Funds shall be held in the Capital Expenditures Reserve Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account.

More Definitions of Interest Bearing Account

Interest Bearing Account means the investment account established under the Plan for bookkeeping purposes in which a Participant may elect to have his or her Participant Deferrals credited. Participant Deferrals invested for bookkeeping purposes in the Interest Bearing Account shall be credited with earnings as of each month equal to 120% of the applicable long term federal rate as published by the Internal Revenue Service for that month, compounded monthly, and divided by 12.

Interest Bearing Account means a separately identifiable account within the financial accounting system of the Council or the County Council (as appropriate) to which will be added interest equivalent to that which the Council or the County Council obtains on its interest

Interest Bearing Account means an account held by Lender or the Servicer on its behalf where the funds on deposit therein are invested in Permitted Investments and all interest or income earned thereon shall be added to the principal balance of such account.

Interest Bearing Account means a credit balance in an interest bearing bank or securities account;

Interest Bearing Account means the sub-account under a Participant's Individual Account to which interest will be credited as of each Accounting Date.

Interest Bearing Account means a subaccount under the Deferred Compensation Account to which Deferred Amounts may be credited in accordance with the Deferral Elections of a Participant and to which interest on those Deferred Amounts is credited in accordance with this Plan.

Interest Bearing Account means an interest bearing account held in the name of Discovery, with such banking institutions and in such bank account types, and subject to such interest rates, as Discovery may in its sole discretion select, taking into account the policyholders and the purpose for which the account has been opened. Notwithstanding anything to the contrary contained in this policy contract, any reference to Discovery utilising an interest-bearing account or utilised money market fund shall not preclude Discovery if so requested by the policyholder from using a non-interest bearing account on his/her benefit.