Official Rate definition

Official Rate. , in relation to interest, means the rate of interest applicable from time to time under section 178 of the Finance Act 1989 for the purposes of Chapter 7 of Part 3 of ITEPA 2003.”
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Official Rate means in relation to any Advance, the taux de l'usure calculated by the Banque de France (as provided in Article L.313-3 of the French Code de la Consommation and implementing laws) and published in the Journal Officiel of the French Republic applicable to floating rate loans made for an initial duration exceeding two years for the quarter preceding that which such Advance is proposed to be made.
Sample 1
Official Rate means the official rate of interest used in the determination of taxable employment benefits, as prescribed by the Income Tax Act 58 of 1962, and all regulations promulgated in terms of this act, being the reference rate in respect of employees of the Bank; Parties means you and us and Party means any one of us as the context may indicate; Prime Interest Rate means our publicly quoted basic rate of interest (percent, per annum/yearly, compounded monthly in arrears and calculated on the basis of a 365 day year irrespective of whether or not the year is a leap year) published by us from time to time as being our prime rate, as certified by any of our managers whose authority, appointment and designation need not be proved; Principal Debt means the total amount owing to us at any time in terms of this Agreement as reflected in the cost of credit (Part A) of this Agreement, being the amount deferred in terms of this Agreement; Repayment means a payment made by you to us; Repayment Due Date means the due date for payment of all amounts due and payable as advised to you by us; Service Fee means the fee levied by us in connection with the routine administration cost of maintaining this Loan which forms part of the Principal Debt; Settlement Date means the date on which all amounts due and payable to us by you are paid and this Agreement is cancelled; Staff means an employee of any member of the Standard Bank Group; Statement means a document reflecting the transactions made on your Account up to the date of the Statement, the full amount owing to us (including any legally permissible interest, costs, fees and charges that may be levied) and the due date of the Repayment due to us; Termination means that you, or we, may withdraw from this Agreement. You will, on termination, be responsible to immediately pay all amounts that are due and payable by you to us; and Transaction Account means an account that offers the ability to deposit, have debit orders, transfer and withdraw funds. - When any number of days is referred to in this Agreement this will exclude the first day and include the last day. Saturdays, Sundays and public holidays in the Republic of South Africa are excluded. - Where we are required to exercise our discretion in this Agreement we will exercise such discretion in a reasonable manner. - The singular includes the plural and vice versa and any gender includes the other gender. - The headings are for convenience only and are not to be taken into acc...
Sample 1

Examples of Official Rate in a sentence

  • You agree that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • The Participant agrees that the loan will bear interest at the then-current Official Rate of Her Majesty’s Revenue and Customs (“HMRC”), it will be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means referred to in Section 1 of the Terms and Conditions for Non-U.S. Participants.

  • The College will charge interest on the initial loan at 4% below HMRC’s Official Rate of Interest which applies to beneficial loans then in force or 1%, whichever is the higher.

  • The Participant agrees that the loan will bear interest at the then-current Official Rate of Her Majesty’s Revenue and Customs (“HMRC”), it will be immediately due and repayable, and the Company (or its Affiliate) may recover it at any time thereafter by any of the means referred to in Section 4.10 of the Plan.

  • This rate of interest will change whenever the Official Rate of Interest changes.

  • Optionee agrees that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • Grantee agrees that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company may recover it at any time thereafter by any of the means referred to above.

  • Participant agrees that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above.

  • Optionee agrees that the loan will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company may recover it at any time thereafter by any of the means referred to above.

  • MRSperf currently supports constant rate, exponential, Erlang-k, and Weibull inter-arrival times.


More Definitions of Official Rate

Official Rate means the official rate of interest used in the determination of taxable employment benefits, as prescribed by the Income Tax Act, 1962, as amended, replaced or re-enacted from time to time, being the reference rate in respect of employees of the Bank;
Sample 1
Official Rate means the official rate of interest used in the determination of taxable employment benefits, as prescribed by the Income Tax Act 58 of 1962, and all regulations promulgated in terms of this act, being the reference rate in respect of Staff (“Staff” means an employee of Standard Bank or the Group);
Sample 1Sample 2
Official Rate means, as of any date of determination, the MXN/USD FIX Rate published by Banco de México on such date.
Sample 1

Related to Official Rate

  • ANNUAL RATE ADJUST: MONTHLY P&I : 1,758.65 OUTSIDE CONV DATE : LIFETIME RATE : 7.40000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.40000 PRODUCT CODE : 002 LTV : 44.17300 ---------------------------------------------------------------- 0 0007659485 MORTGAGORS: XXXXXX XXXXX XXXXXX XXXXX REGION CODE ADDRESS : 3 WESTMINSTER 01 CITY : LAFAYETTE STATE/ZIP : XX 00000 MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT : UNPAID BALANCE : 287,119.66 ANNUAL RATE ADJUST: MONTHLY P&I : 1,994.06 OUTSIDE CONV DATE : LIFETIME RATE : 7.40000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.40000 PRODUCT CODE : 002 LTV : 80.00000 ---------------------------------------------------------------- - **** PAGE TOTALS ***** NUM OF LOANS: 5 LOAN AMT: 1,583,100.00 P & I AMT: 10,940.53 UPB AMT: 1,578,321.88 1 GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C ISSUE DATE: 04/01/98 P.O. BOX 5260 TMS AG0004980830 01 PAGE: 10 XXXXXX XXXX, X.X. 00000 (000) 000-0000 0 ---------------------------------------------------------------- 0 0007659493 MORTGAGORS: XXXXXX XXXXXX REGION CODE ADDRESS : 000 X XXXXX XXXXX XXX 01 CITY : ANAHEIM STATE/ZIP : XX 00000 MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT : UNPAID BALANCE : 378,849.94 ANNUAL RATE ADJUST: MONTHLY P&I : 2,644.02 OUTSIDE CONV DATE : LIFETIME RATE : 7.45000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.45000 PRODUCT CODE : 002 LTV : 69.09000 ---------------------------------------------------------------- 0 0007659519 MORTGAGORS: XXXXXXX XXXXX REGION CODE ADDRESS : 000 XXXX XXXX 01 CITY : MILL VALLEY STATE/ZIP : XX 00000 MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT : UNPAID BALANCE : 246,329.49 ANNUAL RATE ADJUST: MONTHLY P&I : 1,717.11 OUTSIDE CONV DATE : LIFETIME RATE : 7.40000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.40000 PRODUCT CODE : 002 LTV : 75.15100 ---------------------------------------------------------------- 0 0007659527 MORTGAGORS: XXXX XXXXXXX

  • Maximum Legal Rate means the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Note and as provided for herein or the other Loan Documents, under the laws of such state or states whose laws are held by any court of competent jurisdiction to govern the interest rate provisions of the Loan.

  • Final rate means an indirect cost rate applicable to a specified past period which is based on the actual costs of the period. A final rate is not subject to adjustment.

  • Initial Rate means each rate of interest to be paid in an Initial Period as set forth in the Certificate.

  • Applicable Reference Rate means, for any Eurocurrency Rate Loan denominated in any LIBOR Quoted Currency, LIBOR, for any Eurocurrency Rate Loan denominated in euros, EURIBOR, for any Eurocurrency Rate Loan denominated in Australian Dollars, BBSY, for any Eurocurrency Rate Loan denominated in Canadian Dollars, CDOR and for any Eurocurrency Rate Loan denominated in New Zealand Dollars, BKBM, as applicable.

  • Reset Reference Rate means in respect of a Reset Period, the gross redemption yield (as calculated by the Agent Bank on the basis set out by the United Kingdom Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 5, Section One: Price/Yield Formulae “Conventional Gilts”; Double dated and Undated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date (published 8 June 1998, as amended or updated from time to time) or if such basis is no longer in customary market usage at such time, in accordance with generally accepted market practice at such time, on a semi-annual compounding basis (rounded up (if necessary) to four decimal places) of the Benchmark Gilt in respect of that Reset Period, with the price of the Benchmark Gilt for the purpose of determining the gross redemption yield being the arithmetic average (rounded up (if necessary) to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) of the bid and offered prices of such Benchmark Gilt quoted by the Reset Reference Banks at 11.00 a.m. (London time) on the Reset Determination Date in respect of such Reset Period on a dealing basis for settlement on the next following dealing day in London. Such quotations shall be obtained by or on behalf of the Issuer and provided to the Agent Bank. If at least four quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two or three quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Rate will be determined by reference to the rounded quotation provided. If no quotations are provided, the Reset Reference Rate will be the previous Reset Reference Rate or (in the case of the first Reset Period) 1.581 per cent., where:

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Base Rate Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • Prime Rate Margin is set forth on Schedule I hereto.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Replacement Reference Rate means a reference rate which is:

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Offshore Rate means, for any Interest Period, with respect to Offshore Rate Loans comprising part of the same Borrowing, the rate of interest per annum (rounded upward to the next 1/16th of 1%) determined by the Agent as follows: Offshore Rate = LIBOR ------------------------------------ 1.00 - Eurodollar Reserve Percentage Where,

  • U.S. Treasury Note Rate on any date means (i) the yield as calculated by reference to the bid price quotation of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as such bid price quotation is published on the Business Day immediately preceding such date by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Note Rate on such date. "Alternate Treasury Note Rate" on any date means the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as determined by the bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

  • Offshore Base Rate means the rate per annum appearing on Telerate Page 3750 (or any successor page) as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period. If for any reason such rate is not available, the Offshore Base Rate shall be, for any Interest Period, the rate per annum appearing on Reuters Screen LIBO Page as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates. If for any reason none of the foregoing rates is available, the Offshore Base Rate shall be, for any Interest Period, the rate per annum determined by Agent as the rate of interest at which dollar deposits in the approximate amount of the LIBOR Rate Loan comprising part of such Borrowing would be offered by the Bank's London Branch to major banks in the offshore dollar market at their request at or about 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period.

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • GBP LIBOR means, in respect of a day, the rate for deposits in pounds sterling for a period of 12 months which appears on Bloomberg Page BP0012M INDEX for that day, or, if not available, ascertained from any other source as the Margin Loan Provider may deem appropriate

  • Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

  • Swap LIBOR With respect to any Distribution Date (and the related Accrual Period) the product of (i) the Floating Rate Option (as defined in the Swap Agreement for the related Swap Payment Date), (ii) two and (iii) the quotient of (a) the actual number of days in the Accrual Period for the Lower Tier REMIC Interests divided by (b) 30.

  • Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, and shall include employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, one thousand nine hundred fifty (1,950) hours for seven and one-half (7.5) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;

  • U.S. Base Rate means, for any day, the rate of interest per annum equal to the greater of (a) the interest rate per annum publicly announced from time to time by the Administrative Agent as its reference rate in effect on such day at its principal office in Toronto for determining interest rates applicable to commercial loans denominated in U.S. Dollars in Canada (each change in such reference rate being effective from and including the date such change is publicly announced as being effective) and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.