Taxable Rate definition

Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Loan during such period and (ii) 1.54.

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Taxable Rate means, for each day that the interest component of Rental Payments is taxable for Federal income tax purposes, an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any Rental Payment Date would, after such interest was reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.

Taxable Rate means an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any payment date would, after such interest was reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.

Examples of Taxable Rate in a sentence

• The Bonds shall bear interest on the first Payment Date after the occurrence of a Determination of Taxability, computed at the rate set forth in this Section (the "Taxable Rate") (on a 360-day year, actual days elapsed basis) on the outstanding principal amount of the Bonds (as reduced from time to time) from the date of the Event of Taxability, less any interest already paid, from the date of the Event of Taxability to such Payment Date.

• This amount shall be in the form of a payroll deduction from the rates in Appendix B (Taxable Rate).

• The Taxable Rate of Interest shall be the then current Interest Component set forth in the above table of Lease Payments (or determined in accordance with the formula set forth in the preceding paragraph) divided by 65%.

• All amounts so advanced by Lessor shall constitute additional rent for the then current Original Term or Renewal Term and Lessee covenants and agrees to pay such amounts so advanced by Lessor with interest thereon from the date advanced until paid at a rate equal to the Contract Rate (or the Taxable Rate if then in effect) plus five percent (5%) per annum or the maximum amount permitted by law, whichever is less.

• In such event, Lessee will also pay an amount equal to the difference between the portion of the Lease Payments which constituted interest which were actually paid and the interest which would have been paid if the Implicit Rate of Interest would have been the Taxable Rate of Interest from the Commencement Date, plus any penalties, interest, assessments and additions to tax payable by the Lessor as a result of the loss of the tax-exempt status of interest on the Lease.

More Definitions of Taxable Rate

Taxable Rate means, for each day, a rate of interest per annum equal to the product of

Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Bonds during such period and (ii) 1.54.

Taxable Rate means, from and after the occurrence of a Determination of Taxability and as of any date of calculation, a per annum rate of interest equal to the product of the Direct Purchase Rate which otherwise would have been in effect for the Series 2020 D Bonds multiplied by 1.54.

Taxable Rate means an interest rate per annum at all times equal to the product of (i) the Indexed Term Put Rate then in effect multiplied by (ii) the quotient obtained by dividing (a) one by (b) one minus the Maximum Federal Corporate Tax Rate.

Taxable Rate means, for each day during a Taxable Period, the product of (i) the interest rate on the 2021 Sewer Notes for such day and (ii) the applicable Taxable Rate Factor.

Taxable Rate means an interest rate equal to the Contract Rate plus a rate sufficient such that the total interest to be paid on any payment date would, after such interest is reduced by the amount of any Federal, state or local income tax (including any interest, penalties or additions to tax) actually imposed thereon, equal the amount of interest otherwise due to Lessor.

Taxable Rate means, upon an Event of Taxability, the interest rate per annum that shall provide the Owner with the same after tax yield that the Owner would have otherwise received had the Event of Taxability not occurred, taking into account the increased taxable income of the Owner as a result of such Event of Taxability. The Owner shall provide the Issuer with a written statement explaining the calculation of the Taxable Rate, which statement shall, in the absence of manifest error, be conclusive and binding on the Issuer.