Fed Funds Target Rate definition
Fed Funds Target Rate means, for any Loan Accrual Period with respect to any Floating Rate Fed Funds Loan, the target federal funds rate as established by the Federal Open Market Committee (the “FOMC”) and made available on the internet site ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/fomc/fundsrate.htm or, if not available on such internet site, as otherwise published by the FOMC, in effect as of 12:00 noon on the second Business Day preceding the first day of such Loan Accrual Period (or, in the case of the initial Loan Accrual Period for any Floating Rate Fed Funds Loan, as of 12:00 noon on the applicable Loan Subscription Date). If the target federal funds rate is a range of rates, Lender shall have the discretion to determine the Federal Funds Target Rate, so long as the determined rate is within such range.
Fed Funds Target Rate means for any period, a fluctuating interest rate per annum for each day during such period equal to the most recent rate set by the Federal Open Market Committee of the Federal Reserve System as the target level for the Federal Funds Rate, as published for such day (or, if such day is not a Business Day, for the preceding Business Day) by Dow ▇▇▇▇▇ & Company, Inc. in The Wall Street Journal.
Fed Funds Target Rate means, for any Loan Accrual Period with respect to any Floating Rate Fed Funds Loan, the target federal funds rate as established by the Federal Open Market Committee (the “FOMC”) and made available on the internet site ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/fomc/fundsrate.htm or, if not available on such internet site, as otherwise published by the FOMC, in effect as of 12:00 p.m. on the second Business Day preceding the first day of such Loan Accrual Period (or, in the case of the initial Loan Accrual Period for any Floating Rate Fed Funds Loan, as of 8:00 a.m. on the applicable Loan Subscription Date). If the target federal funds rate is a range of rates, Lender shall have the discretion to determine the Federal Funds Target Rate, so long as the determined rate is within such range.
Examples of Fed Funds Target Rate in a sentence
In the event that a change in the Fed Funds Target Rate is announced or published at the time a Loan is outstanding, such change shall become effective at the time it is announced or published.
Any Advance not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Fed Funds Target Rate plus 2.4% per annum.
Prior to maturity, Advances shall bear interest at the Fed Funds Target Rate plus 45/100 of 1% per annum.
Prior to maturity, Advances shall bear interest at the Fed Funds Target Rate plus 75/100 of 1% per annum.
More Definitions of Fed Funds Target Rate
Fed Funds Target Rate means, for any Loan Accrual Period with respect to any Floating Rate Fed Funds Loan, the target federal funds rate as established by the Federal Open Market Committee (the “FOMC”) and made available on the internet site ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/fomc/fundsrate.htm or, if not available on such internet site, as otherwise published by the FOMC, in effect as of 12:00
Fed Funds Target Rate means for any period, a fluctuating interest rate per annum for each day during such period equal to the most recent rate
Fed Funds Target Rate means for any period, a fluctuating interest rate per annum for each day during such period equal to the most recent rate set by the Federal Open Market Committee of the Federal Reserve System as the target level for the