Interest Equivalent definition

Interest Equivalent means a yield on a 360-day basis of a discount basis security which is equal to the yield on an equivalent interest-bearing security.

Interest Equivalent means a yield on a 360-day basis of a discount basis security, which is equal to the yield on an equivalent interest-bearing security.

Interest Equivalent has the meaning set forth in the definition of “‘AA’ Financial Composite Commercial Paper Rate.”

Examples of Interest Equivalent in a sentence

• The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

• The undersigned further agrees that until the Subsequent closing occurs or is abandoned, the undersigned may not transfer, convey, or assign its Member Interest or Member Interest Equivalent and any such transfer, assignment or conveyance shall be null, void and ineffective.

• As of the last day of each fiscal quarter and the Eligible Director’s Service Termination Date, the Eligible Director’s Cash Account will be credited with an Interest Equivalent equal to (i) the Rate of Interest, multiplied by (ii) the Average Daily Cash Balance, multiplied by (iii) the number of days during the fiscal quarter or other period during which such Cash Account had a positive balance, divided by (iv) 365.

• If the Employee should separate from service prior to his attainment of age fifty-five (55) for any reason other than death or on account of "Cause" as defined in subsection (c) below, the Employee shall be entitled to receive payment in a lump sum of the entire amount of his Deferred Compensation Account, including the same Interest Equivalent as described in subsection (a) above.

• The Deposit hereunder by a Clearing Member of any Underlying Interest or Underlying Interest Equivalent held for the account of any Client may be made only to the extent permitted by applicable law, regulations and policies of the Corporation and shall constitute the certification of the Clearing Member to the Corporation that such Deposit does not contravene any provision of applicable law, regulations or policies of the Corporation.

More Definitions of Interest Equivalent

Interest Equivalent means an additional amount to be credited to a Cash Account calculated in accordance with Section 7(a)(ii).

Interest Equivalent means the entry in a Deferred Compensation Account of an interest credit with respect to a Cash Unit, compounded on the basis of the balance in the Participant’s Deferred Compensation Account, applying the interest factor approved by the Committee each year for such purpose.

Interest Equivalent has the meaning set forth in the definition of "'AA' Financial Composite Commercial Paper Rate."

Interest Equivalent means a yield on a 3 60-day basis of a discount basis security which is equal to the yield on an equivalent interest-bearing security.

Interest Equivalent of a rate stated on a discount basis for commercial paper of a given number of days' maturity shall mean a number equal to the quotient (rounded upward to the next higher one-thousandth (0.001) of 1%) of (1) such rate expressed as a decimal, divided by (2) the difference between (x) 1.00 and (y) a fraction, the numerator of which shall be the product of such rate expressed as a decimal, multiplied by the number of days in which such commercial paper shall mature and the denominator of which shall be 360.

Interest Equivalent means a yield on a 360–day basis of a discount basis security which is equal to the yield on an equivalent interest–bearing security.

Interest Equivalent means a right granted to a Grantee under Section 6(g) to receive cash, which may be deferred or paid currently, equal to the interest which would be earned on a specified amount of money, including money deferred in a Deferred Cash Account. Interest Equivalents may be awarded on a free-standing basis or in connection with another Award, and may be paid currently or on a deferred basis. Unless the Committee otherwise provides to the contrary or except as otherwise provided in the Plan, Interest Equivalents paid on a deferred basis will be compounded on a quarterly basis.