Daily Interest Rate definition

Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

Daily Interest Rate means the interest rate determined by dividing the Annual Interest Rate by 365.

Daily Interest Rate means, as of each date of determination, the quotient of (i) the Applicable Interest Rate divided by (ii)

Examples of Daily Interest Rate in a sentence

• If any applicable condition has not been satisfied, the Conversion shall not occur, and Notes in the Daily Mode shall continue to bear interest at the Daily Interest Rate, Notes in the Weekly Mode shall continue to bear interest at the Weekly Interest Rate, Notes in the Index Floating Mode or Term Mode shall bear interest at the Delayed Remarketing Rate, and Notes in a Direct Purchase Period shall bear interest as provided in the Direct Purchase Agreement.

• If no Daily Interest Rate is established by the Remarketing Agent, then the Daily Interest Rate for such Business Day shall be the same as the preceding Daily Interest Rate, and such Daily Interest Rate shall continue to be in effect until the earlier of (A) the date on which the Remarketing Agent determines a new Daily Interest Rate or (B) the seventh day succeeding the first day on which the Daily Interest Rate was not determined by the Remarketing Agent.

• Each Series of the Notes for which a Daily Interest Rate Period has been selected shall bear interest at the Daily Interest Rate, which shall be determined by the Remarketing Agent by 10:00 a.m., New York Time, on each Business Day.

• During a Daily Interest Rate Period or a Weekly Interest Rate Period, each Series of the Notes (or principal portion thereof) then in a Daily Mode or Weekly Mode shall be subject to optional redemption at the written direction of the Finance Director on any Business Day, in whole or in part, at a redemption price of 100% of the principal amount thereof plus interest, if any, accrued to the date fixed for redemption.

• During each Daily Interest Rate Period for the Series 2021A Refunding Bonds commencing on a date so specified and ending on the day immediately preceding the effective date of the next succeeding Interest Rate Period, the interest rate borne by the Series 2021A Refunding Bonds shall be a Daily Interest Rate.

More Definitions of Daily Interest Rate

Daily Interest Rate means the rate of interest per annum during a Daily Interest Rate Mode determined by the Remarketing Agent on an Interest Rate Determination Date to be the lowest interest rate for the Interest Rate Period commencing on such Interest Rate Determination Date and applicable through the next succeeding Interest Rate Determination Date, in the judgment of the Remarketing Agent (taking into consideration current transactions and comparable securities with which the Remarketing Agent is involved or of which it is aware and prevailing financial market conditions) at which, as of such Interest Rate Determination Date, the Bonds could be remarketed at par, plus the accrued interest, if any; or (b) in the event that the Remarketing Agent has been removed or has resigned and no successor has been appointed, or the Remarketing Agent has failed to determine the Daily Interest Rate for whatever reason, or the Daily Interest Rate cannot be determined pursuant to clause (a) for whatever reason (including that a date is not a Business Day), the USD-SIFMA Municipal Swap Index then in effect; provided that in no event shall the Daily Interest Rate exceed the Maximum Rate.

Daily Interest Rate means the variable interest rate on any Bond established in accordance with Section 2.01(c)(ii) hereof.

Daily Interest Rate means the interest rate on the Bonds established pursuant to Section 2.04 hereof

Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender as of each calendar day by three hundred sixty (360).

Daily Interest Rate means (i) for an Investment in the form of a loan or debt, the rate determined by dividing the per annum interest rate applicable to such Investment by 365, and (ii) for an Investment in the form of preferred, structured or other equity that has an associated contractual accruing dividend rate, the rate determined by dividing the per annum contractual accruing dividend rate applicable to such Investment by 365.

Daily Interest Rate has the meaning assigned to that term in subsection 9.8(A)(3).

Daily Interest Rate means, with respect to the Revolving Credit Advances, an amount calculated by dividing the interest rate payable to a Lender on the Revolving Credit Advances (as determined pursuant to Section 1.5 and 1.6) as of each calendar day by three hundred sixty (360) days in the case of LIBOR Loans and three hundred sixty-five (365) days in the case of Index Rate Loans.