Index Rate definition

Index Rate means, for any day, a floating rate equal to the higher of (i) the rate publicly quoted from time to time by The Wall Street Journal as the "base rate on corporate loans posted by at least 75% of the nation's 30 largest banks" (or, if The Wall Street Journal ceases quoting a base rate of the type described, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled "Selected Interest Rates" as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Index Rate means, for each class of business as to a rating period for small employers with similar case characteristics, the arithmetic average of the applicable base premium rate and the corresponding highest premium rate.

Index Rate means the rate of annual percentage increase,

Examples of Index Rate in a sentence

• The Loans constituting each Index Rate Borrowing shall bear interest at a rate per annum equal to the Term SOFR Index Rate plus the Applicable Margin.

• The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Alternate Base Rate, the Daily Simple RFR, Daily Simple SOFR, the Term SOFR Index Rate, Term SOFR, Term ▇▇▇▇▇, the Adjusted EURIBO Rate, the AUD Rate, the HKIBOR Rate, the NIBOR Rate, the ▇▇▇▇▇ ▇▇▇▇ or any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.

• If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be an Index Rate Borrowing and, if an Agreed Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month.

• Subject to Section 2.13, each Borrowing of a Class shall be constituted entirely of ABR Loans, of Index Rate Loans, of RFR Loans or of Term Benchmark Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith.

• Each ABR Loan and each Index Rate Loan shall be denominated in Dollars and each Pro-Rata Borrowing shall be constituted entirely of ABR Loans, of Index Rate Loans or of Term Benchmark Loans denominated in Dollars.

More Definitions of Index Rate

Index Rate means, for any Interest Adjustment Period, the LIBOR Index Rate for such Interest Adjustment Period.

Index Rate. The index will serve only as a device for setting the rate on this note. You do not guarantee by selecting this index, or the margin, that the rate on this note will be the same rate you charge on any other loans or class of loans to me or other borrowers.

Index Rate means, with respect to any Rate Period for a Series of RVMTP Shares, the SIFMA Municipal Swap Index made available by 3:00 p.m., New York City time, as determined on the Rate Determination Date relating to such Rate Period or, except as otherwise provided in the definition of “SIFMA Municipal Swap Index” if such index is not made available by 5:00 p.m., New York City time, on such date, the SIFMA Municipal Swap Index as determined on the previous Rate Determination Date; provided, however, if the SIFMA Municipal Swap Index is less than zero (0), the SIFMA Municipal Swap Index will be deemed to be zero (0) for purposes of the determination of the “Index Rate”.

Index Rate means, for any day, a floating rate equal to the higher of (i) the rate publicly quoted from time to time by The Wall Street Journal as the “prime rate” (or, if The Wall Street Journal ceases quoting a prime rate, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled “Selected Interest Rates” as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

Index Rate means, for any Interest Adjustment Period, the Reference Billâ Index Rate for such Interest Adjustment Period.

Index Rate means the rate of interest on the 2024 Series A Variable Rate Bonds described in Section 401 of Appendix A hereto.

Index Rate. [The Index Rate is the U.S. Treasury Constant Maturity Series as reported in Federal Reserve Bulletin Release H.15. We currently base the Index Rate for a calendar week on the reported rate for the preceding calendar week. We reserve the right to set it less frequently but in no event less often than monthly.] TRANSFERS AMONG ACCOUNTS The minimum amount that can be transferred is [$100]. However, if less remains in a Sub-Account, that amount may be transferred. If a transfer request would reduce the Account Value remaining in a Sub-Account below [$100], we will treat the transfer request as a request to transfer the entire amount. We reserve the right to limit, upon notice, the maximum number of transfers you may make to [one] per calendar month or [12] per Contract Year. After the Income Date, we reserve the right to: