Definition of Portfolio Rate

  1. Portfolio Rate means on any day, with respect to any Settlement Period, the annualized percentage equivalent of a fraction, the numerator of which is equal to all Interest Collections for such Settlement Period, and the denominator of which is equal to the Advances Outstanding on the last day of such Settlement Period.

Examples of Portfolio Rate in a sentence

  1. The Contractholders Balance in the Contract during a particular Interest Crediting Period will receive interest credits equal to (i) the New Money Rate of Interest on all new Contributions received during that period, and (ii) the Portfolio Rate of Interest on the Contractholders Balance, less any Contributions received during that period.

Definition of Portfolio Rate in Amended and Restated Credit Agreement

Portfolio Rate means on any day, with respect to any Settlement Period, the annualized percentage equivalent of a fraction, the numerator of which is equal to all Interest Collections for such Settlement Period, and the denominator of which is equal to the Advances Outstanding on the last day of such Settlement Period.