Interest Term definition

Interest Term means a period of validity of the interest rate and interest calculation namely every 3 (three) months under the conditions as follows:

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Interest Term. For the Fixed Account, the period shown on your Contract data page over which interest is credited at a specified declared rate. For any Indexed Account, the period shown on your Contract data page over which performance of an Index is measured to determine Indexed Interest.

Interest Term means from the Effective Date of this Agreement until the Initial Maturity Date, during which time the Lender shall make Advances from the Loan in accordance with the terms and conditions of this Agreement.

Examples of Interest Term in a sentence

• On the first day of the Interest Term the Indexed Account Value equals the Base Value.

• On the last day of the Interest Term, the Indexed Account Value equals the Base Value multiplied by the sum of 1 plus the Adjusted Index Return, less any Indexed Account Charges.

• ICC26_RC1[Page 8 of #NUM_PAGES#][ABC123] [ABC123] The Indexed Account Value is equal to the Interim Value, less any Indexed Account Charges, on any Business Day except the first and last day of the Interest Term.

• Subsequent Interest Term Years are consecutive and will also begin and end on the same calendar day of the month that is closest to an anniversary of your Allocation Date.

• An Indexed Account is comprised of an associated Index, a Crediting Method, and an Interest Term.

• The initial Interest Term begins on the Allocation Date and ends on the same calendar day of the month that is closest to an anniversary of your Allocation Date.

• At the end of each Interest Term, you may elect to transfer your Contract Value between the Fixed Account and any Indexed Account(s), or between Indexed Account(s), to begin a new Interest Term.

• If the Return Lock feature is exercised, you may elect to transfer any portion of the Indexed Account Value subject to the Return Lock at the end of each Interest Term Year remaining in the Interest Term.

• Not all Interest Terms will have the same number of Interest Term Years.

• The initial Interest Term Year is the 12-month period beginning on the Allocation Date and ending on the same calendar day of the month that is closest to the anniversary of your Allocation Date.

More Definitions of Interest Term

Interest Term. For the Fixed Account, the period shown in the Fixed Account endorsement over which interest is credited at a specified declared rate. For any Indexed Account, the period in the Indexed Account endorsement over which performance of an Index is measured to determine Indexed Interest. Interest Term Year: A 12-month period beginning on the Allocation Date or any anniversary of your Allocation Date. Interest Term Years begin and end on the same calendar day of the month that is closest to an anniversary of your Allocation Date.

Interest Term means the interest term for each Drawdown to which the conditions defined under the Article - "Drawdown Methods" apply;