Interest Credit definition

Interest Credit means an amount credited under a Participant’s Deferred Stock Award, which amount is based on the annual rate equivalent to the weighted average prime lending rate of SunTrust Bank, Atlanta for the relevant calendar year or portion of the calendar year.

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Interest Credit means the credit made annually to a Member’s PIRP-DC Account pursuant to Section 4.01(b).

Interest Credit means (unless otherwise specified in the Award or other relevant agreement), an amount credited under a Participant’s Restricted Stock Unit Award, which amount is based on the annual rate equivalent to the weighted average prime lending rate of SunTrust Bank, Atlanta for the relevant calendar year or portion of the calendar year.

Examples of Interest Credit in a sentence

• The Loan Account Value is equal to the Loan Account plus Loan Interest Credit.

• Interest Credit shall continue even in the event of the Company's insolvency.

• The “Funds Withheld Investment Credit” shall be an amount equal to the product of (x) the Funds Withheld Balance as of the immediately preceding Settlement Date and (y) the Interest Credit Rate.

• For purposes of this Agreement, the “Earnings Rate” shall be the rate for a 10-Year Treasury Note as in effect on the Interest Credit Date plus 200 basis points.

• The Interest Credit Rate shall mean the ratio of the investment income earned by the assets in the segregated asset portfolio since the immediately preceding Settlement Date to the book value of the assets in the segregated asset portfolio.

More Definitions of Interest Credit

Interest Credit means an amount, calculated as described in Section 6.2(d) and based on the annual rate equivalent to the weighted average prime lending rate of SunTrust Bank, Atlanta for the relevant year or portion of the year.

Interest Credit means the rate at which a Participant’s Opening Account Balance as provided for under Section 3.3 of the Plan is periodically increased on a bookkeeping basis. The Interest Credit allocated to a Participant’s Opening Account Balance shall be determined based on one-quarter of the effective annual calendar-year interest rate equal to the average (rounded to the nearest one-hundredth of one percent) 5-year United States Treasury Bill rate in effect each month during the twelve (12) month period ending on October 31 or the last business day in October of the preceding calendar year. The procedures to determine such Interest Credit shall be determined by the Pension Trust Oversight Committee, and the Pension Trust Oversight Committee in its sole and exclusive discretion may modify the Interest Credit to be allocated under the Plan.

Interest Credit means the amount of hypothetical earnings (determined in accordance with the Interest Credit Rate) which is added to the Participant's Hypothetical Account Balance in accordance with the elections made in the Adoption Agreement.

Interest Credit means the rate at which a Participant’s Opening Account Balance, as provided for under Section 3.3 of the Plan, is periodically increased on a bookkeeping basis. The Interest Credit rate to be allocated to a Participant’s Opening Account Balance shall mirror the Pension Plan’s Interest Credit rate for each applicable Plan Year.

Interest Credit means the amount determined by multiplying the balance of a cash balance account by the Interest Factor for a month.

Interest Credit means an amount credited pursuant to Section 4.4 of the Plan.

Interest Credit has the meaning set forth in Section 2.3.