Examples of Daily Interest Rate in a sentence
Interest Formula: Interest = Principal × Actual Days × Daily Interest Rate.
Conversion Formula: Daily Interest Rate = Annual Interest Rate / 360.
If the Remarketing Agent shall not have determined a Daily Interest Rate for any day by 10:30 a.m. (New York City time) on such day, the Daily Interest Rate shall be the same as the Daily Interest Rate for the immediately preceding day.
The final regulations adopt ' 1.468B-7 as proposed with minor changes to improve clarity.
The Daily Interest Rate shall be the rate determined by the Remarketing Agent (based on an examination of Tax-Exempt obligations comparable to the Bonds known by the Remarketing Agent to have been priced or traded under then-prevailing market conditions) to be the lowest rate which would enable the Remarketing Agent to sell the Bonds on the effective date of such rate at a price (without regard to accrued interest) equal to 100% of the principal amount thereof.