Daily Fee Accrual definition

Daily Fee Accrual means, for each day occurring during any Calculation Period for the Down or Up Trust, (1) the Down or Up Asset Amount, as applicable, multiplied by the Daily Fee Accrual Rate on that day plus (2) an estimated fixed annual expense amount divided by 365 or 366, depending upon the number of days in each calendar year or, in the case of partial period, the number of days during which the Paired Shares are anticipated to be outstanding during that partial period. Partial periods consist of (i) 2009, the year of the initial issuance, and (ii) either (x) 2014, the year during which the Final Scheduled Termination Date will occur or (y) any year during which an Early Termination Date occurs on any Distribution Date other than the Distribution Date in December of that year. The sum of the Daily Fee Accruals for the Down Trust or the Up Trust for an entire Calculation Period will be equal to the Fee Deduction Amount for that Calculation Period and that trust. The fixed annual expense amount is expected to equal approximately $600,000, as adjusted periodically based upon actual fees and expenses incurred or expected to be incurred by the Down Trust, including the fees and expenses expected to be incurred or avoided during any partial period.
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Daily Fee Accrual means, for each day occurring during any Calculation Period for the Down or Up Trust, (1) the Down or Up Asset Amount, as applicable, multiplied by the Daily Fee Accrual Rate on that day plus (2) an estimated fixed annual expense amount divided by 365 or 366, depending upon the number of days in the current year. The sum of the Daily Fee Accruals for the Down Trust or the Up Trust for an entire Calculation Period will be equal to the Fee Deduction Amount for that Calculation Period and that trust. The fixed annual expense amount is expected to equal approximately $600,000, as adjusted periodically based upon actual fees and expenses incurred or expected to be incurred by the Down Trust.
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Daily Fee Accrual means, for any date of determination occurring during any Calculation Period for the Up-MACRO or Down-MACRO holding trust, the Up-MACRO or Down-MACRO Asset Amount, as applicable, multiplied by the Daily Fee Accrual Rate on that date. The sum of the Daily Fee Accruals for the Up-MACRO holding trust or the Down-MACRO holding trust for an entire Calculation Period will be equal to the Fee Deduction Amount for that Calculation Period and that trust.
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Examples of Daily Fee Accrual in a sentence

  • On (or as soon as reasonably practicable after) each Business Day, the Portfolio Administrator shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Portfolio Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.

  • On (or as soon as reasonably practicable after) each Business Day, the Administrator shall calculate the Daily Fee Accrual in respect of such BusinessDay and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.

  • On (or as soon as reasonably practicable after) each Business Day, the Administrator shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.

  • In respect of any Series of Bullion Notes, on (or as soon as reasonably practicable after) each Business Day, the Calculation Agent shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Calculation Agent shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period and shall notify the Collateral Manager of such calculations.

  • On (or as soon as reasonably practicable after) eac h Business Day, the Portfolio Administrator shall calculate the Daily Fee Accrual in respect of such Business Day and on (or as soon as reasonably practicable after) each Combined Fees Calculation Date, the Portfolio Administrator shall calculate the Combined Fees in respect of the relevant Combined Fees Calculation Period.


More Definitions of Daily Fee Accrual

Daily Fee Accrual means, on each Business Day an amount of cryptocurrency (rounded to the Rounding Amount) as determined by the Administrator equal to the amount of the Underlying Cryptoassets by which the Per Certificate Entitlement to such Underlying Cryptoassets has reduced since the immediately preceding Business Day multiplied by the number of Certificates outstanding in the Series as at such Business Day;
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Daily Fee Accrual means, on each Business Day:
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Related to Daily Fee Accrual

  • Current Accrual Rate means, with respect to each Payment Date and any Reference Obligation, the current mortgage rate, less the greater of (i) the related servicing fee rate and (ii) 35 basis points.

  • Interest Accrual Date means with respect to any Security, the date the Company accepts funds for the purchase of the Security if such funds are received by 3:00 p.m. (EDT) on a Business Day, or if such funds are not so received, on the next Business Day.

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Interest Accrual Amount As to any Distribution Date and any Class of Class A Certificates (other than the Class A-PO Certificates), (a) the product of (i) 1/12th of the Class A Pass-Through Rate for such Class and (ii) the Principal Balance of such Class as of the Determination Date preceding such Distribution Date minus (b) the Class A Interest Percentage of such Class of (i) any Non-Supported Interest Shortfall allocated to the Class A Certificates with respect to such Distribution Date, (ii) the interest portion of any Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses allocated to the Class A Certificates with respect to such Distribution Date pursuant to Section 4.02(e) and (iii) the interest portion of any Realized Losses (other than Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses) allocated to the Class A Certificates on or after the Cross-Over Date pursuant to Section 4.02(e). The Class A-PO Certificates have no Interest Accrual Amount. As to any Distribution Date and any Class of Class B Certificates, an amount equal to (i) the product of 1/12th of the Class B Pass-Through Rate and the Principal Balance of such Class as of the Determination Date preceding such Distribution Date minus (ii) the Class B Interest Percentage of such Class of (x) any Non-Supported Interest Shortfall allocated to the Class B Certificates with respect to such Distribution Date and (y) the interest portion of any Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses allocated to the Class B Certificates with respect to such Distribution Date pursuant to Section 4.02(e).

  • Original Accrual Rate With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related Accounting Net Yield as of the Cut-off Date; and (ii) the related mortgage rate as of the Cut-off Date minus 0.35%.

  • Return Accumulation Period means the period from (and including) a Periodic Distribution Date (or, in the case of the first Return Accumulation Period, the Issue Date) to (but excluding) the next (or, in the case of the first Return Accumulation Period, the first) Periodic Distribution Date;

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Program Fee Rate has the meaning set forth in the Fee Letter.

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Compounded Daily XXXXX means the rate of return of a daily compound interest investment (with the daily Sterling Overnight Index Average as the Reference Rate for the calculation of interest) and will be calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms Document) on the Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 being rounded upwards: where:

  • Accrual Date With respect to any Series or Class of Certificates, the date upon which interest begins accruing on the Certificates of such Series or Class, which shall be specified in the related Pooling and Servicing Agreement.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Administration Fee Rate The sum of (i) the Servicing Fee Rate, (ii) the Master Servicing Fee Rate and (iii) the Credit Risk Management Fee Rate.

  • Compounded Daily SOFR means, in relation to a Floating Rate Interest Period, the rate of return of a daily compound interest investment (with SOFR as reference rate for the calculation of interest) during the related Observation Period and will be calculated by the Calculation Agent on the related Interest Determination Date as follows: Where:

  • Compounded Daily €STR means, with respect to any Interest Period, the rate of return of a daily compound interest investment (with the daily euro short-term rate as reference rate for the calculation of interest) as calculated by the Calculation Agent as at the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded if necessary to the nearest fifth decimal place, with 0.000005 being rounded upwards):

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.