Federal Rate definition

Federal Rate defined to mean the highest effective federal income tax rate applicable to any individual for such year and (b) the "State Rate" defined as the product of (i) the highest effective state income tax rate applicable to an individual Member for such year multiplied by (ii) a percentage equal to the difference between one hundred percent (100%) and the Federal Rate.

Federal Rate means, with respect to a Taxable Event, the highest marginal federal income tax rate applicable to income or gain having the same character as the income or gain arising from such Taxable Event applicable to the Protected Person in effect for the Taxable Period in issue, taking into account the deductibility of state income taxes payable at the related State Tax Rate by the affected Protected Person, without regard to any limitations on such deduction applicable solely to such Protected Person.

Federal Rate means the rate at or below which the federal government or its agents reimburse providers for prescription drugs administered to patients as provided for in the medicare, Part B, drugs average sales price information resource as published by the United States Department of Health and Human Services, or any index that succeeds it.

Examples of Federal Rate in a sentence

• The maximum below-market interest rate allowed for tiebreaker purposes shall be the greater of four percent (4%) simple, or the Applicable Federal Rate if compounding.

• Except as otherwise noted, any such loans by affiliates of the Company accrue interest at the Applicable Federal Rate (as defined in the Internal Revenue Code), and any other loans accrue interest as described herein.

• Interest on the deferred balance of the purchase price shall accrue from the Closing Date at the Annual Mid-Term Federal Rate published by the Internal Revenue Service as of the end of the month preceding or coincident with the purchase and shall be payable with each installment of principal.

• To the extent that payments exceeding such maximum deductible amount have been made to or for the benefit of the Executive, such excess payments shall be refunded to the Employers with interest thereon at the applicable Federal Rate determined under Section 1274(d) of the Code, compounded annually, or at such other rate as may be required in order that no such payments shall be non-deductible to the Employers by reason of the operation of said Section 280G.

• If such stockholder approval is not obtained within twelve (12) months after the date the first such excess option grants or excess share issuances are made, then (I) any unexercised excess options shall terminate and cease to be exercisable and (II) the Corporation shall promptly refund the purchase price paid for any excess shares actually issued under the Plan and held in escrow, together with interest (at the applicable Short Term Federal Rate) for the period the shares were held in escrow.

More Definitions of Federal Rate

Federal Rate means the applicable federal rate, as defined under sections 1274(d) and 7872 of the Internal Revenue Code of 1986, as amended, compounded annually.

Federal Rate means, for each Taxable Year, the highest federal income tax rate applicable to a U.S. corporation for such Taxable Year.

Federal Rate means the monthly rate of interest as published by the Internal Revenue Service pursuant to Internal Revenue Code Section 7520.

Federal Rate means the rate at or below which the federal government or its agents reimburse providers for pre- scription drugs administered to patients as provided for in the medicare, Part B drugs average sales price information resource as published by the United States Department of

Federal Rate means the highest marginal rate in effect on any applicable Payment Date at which basic income taxes are imposed pursuant to the Code on income earned by individuals. The Federal Rate shall be determined without reference to or adjustment for any applicable credits or deductions, or for any other taxes (e.g., the alternative minimum tax) or surtaxes that may be imposed pursuant to the Code, or for any special tax rates that may apply to income derived from specific sources (e.g., dividends or capital gains). The Federal Rate is 35.0% on the Effective Date.

Federal Rate means that rate of interest, determined by Employer's auditors in accordance with Internal Revenue Service regulations, necessary to prevent interest on the Mortgage Loan from being imputed to Executive as income and to Employer as expense. Interest only shall be due and payable on the Mortgage Loan for the first five years thereof. Thereafter, the Mortgage Loan shall be repayable in sixty, equal payments of principal, plus accrued and unpaid interest. All payments shall be due on the first of each month, with interest payable in arrears. Notwithstanding anything to the contrary contained herein or in the Note or Mortgage, Executive shall not be required to make the principal and/or interest payments otherwise due during the Employment Period and the Employer shall credit the Mortgage Loan account as if such payments had been timely made. Amounts so credited shall be deemed forgiven and Executive shall not be liable for repayment thereof. In the event (a) Executive shall remain in the employ of Employer for at least 10 consecutive years; (b) Employer shall terminate this Agreement without cause (Section 5.1); (c) Executive shall terminate this Agreement for good reason (Section 5.3); (d) this Agreement shall terminate or be terminated as a result of the death (Section 5.5) or disability (Section 5.4) of Executive; (e) Employer (or any trustee of Employer) shall reject this Agreement pursuant to powers granted under the United States Bankruptcy Code (11 U.S.C. ss.ss. 101 et seq.), or any xxxxessor statute thereto, and either (i) Employer and Executive, each acting in his/its sole and absolute subjective discretion, shall fail to agree upon terms and conditions for Executive's continued employment with Employer or (ii) Executive, in his sole and absolute subjective discretion, shall fail to accept, and thereafter Employer shall fail to withdraw its demand for, any proposed revision in the terms and conditions of the Mortgage Loan; or (f) Employer shall give notice of termination pursuant to Section 2 of this Agreement, then, and in any of such events, the Mortgage Loan, and all interest due thereon, shall be deemed paid in full. In the event (x) Executive shall terminate this Agreement without cause (Section 5.1); (y) Executive shall give notice of termination pursuant to Section 2; or (z) Employer shall terminate this Agreement for cause (Section 5.2), Executive shall pay to Employer the unpaid principal balance and all accrued interest on the Mortgage Loan...

Federal Rate means for any day, an interest rate per annum equal to the average base rate on overnight United States Dollar loans placed with the Bank as borrower/debtor as on such day (or, if such day is not a Bank Business Day, for the immediately preceding Bank Business Day), as determined by the Bank in its sole discretion.