Interest at the current rate definition

Interest at the current rate means that amount of interest which would have been credited to the account of the member on the amount to be deposited at the interest rates established for the system if the contribution required by that section had been on deposit from the time he became a member of the system until the amount required to be deposited has been paid.
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Examples of Interest at the current rate in a sentence

  • Interest at the current rate of 1.5% per calendar month, and subject to change from time to time, will be calculated from the Day it was payable to the date it is paid in full.

  • Interest at the current rate of 2.5% per calendar month, and subject to change from time to time, will be calculated from the day the Charge was payable to the date it is paid in full.

  • Interest at the current rate is charged on notes, and no interest is charged on advances.

  • Interest at the current rate of 2.0% per calendar month, and subject to change from time to time, will be calculated from the day the Charge was payable to the date it is paid in full.

  • In the three decades before 1980, gross domestic product (GDP) growth rates averaged 3.5% per annum, and per capita growth rates were 1% per annum.

  • Bonus declaration is highly discretionary by insurers and is not well disclosed to policyholders in many cases.

  • Failure to provide payment within the 28-day period may incur, at the discretion of Naturally Wild, Late Fees and Statutory Interest at the current rate as outlined on GOV.uk.

  • Communicate with YMGI-technical support line at (866)833-3138 x 703, if further help necessary.Following these requirements will aid in ensuring that the units to be installed meet general HVAC practicing standards and necessary factory requirements.

  • Interest Interest, at the current rate of 10.25% effective from 1 May 2016 (SARS 2016f), applies to both the tax on the under-reported income and the penalties imposed on the taxpayer in terms of s 89quat of the Act (Deloitte 2016:235).

  • Interest at the current rate calculated on daily available balance will be credited monthly (usually on the last day of the month) to the Senior Citizen Savings Account.

Related to Interest at the current rate

  • Current Rate means the applicable basic minimum wage rate for Local Workers by reason of any National or State Statute or Ordinance, prevailing on any date subsequent to the date 28 days prior to the latest date set for submission of Tenders.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Assessment Rate means, for any day, the annual assessment rate in effect on such day that is payable by a member of the Bank Insurance Fund classified as "well-capitalized" and within supervisory subgroup "B" (or a comparable successor risk classification) within the meaning of 12 C.F.R. Part 327 (or any successor provision) to the Federal Deposit Insurance Corporation for insurance by such Corporation of time deposits made in dollars at the offices of such member in the United States; provided that if, as a result of any change in any law, rule or regulation, it is no longer possible to determine the Assessment Rate as aforesaid, then the Assessment Rate shall be such annual rate as shall be determined by the Administrative Agent to be representative of the cost of such insurance to the Lenders.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.