Daily Interest Rate definition

Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

Daily Interest Rate means the interest rate determined by dividing the Annual Interest Rate by 365.

Daily Interest Rate means, as of each date of determination, the quotient of (i) the Applicable Interest Rate divided by (ii)

Examples of Daily Interest Rate in a sentence

• The Daily Interest Rate will vary in time and can become negative on certain days.

• The Daily Interest Rate for any day which is not a Business Day shall be the same as the Daily Interest Rate for the immediately preceding Business Day.

• Interest on the Bonds shall be computed on the basis of a 365- or 366-day year, as applicable, for the actual number of days elapsed so long as interest is payable at the SIFMA Index Rate, Daily Interest Rate or Weekly Interest Rate.

• Interest on the Bonds shall be computed on the basis of a 365- or 366-day, as applicable, for the actual number of days elapsed so long as interest is payable at the SIFMA Index Rate, Daily Interest Rate or Weekly Interest Rate.

• The Bonds of each Series shall be subject to (i) optional redemption, extraordinary optional redemption and mandatory redemption, (ii) during any Daily Interest Rate Period or Weekly Interest Rate Period, optional tender for purchase, and (iii) mandatory tender for purchase, at all times, upon the terms and conditions, and at the prices set forth in the applicable Trust Agreement.

More Definitions of Daily Interest Rate

Daily Interest Rate has the meaning assigned to that term in subsection 9.8(A)(3).

Daily Interest Rate means the variable interest rate on any Bond established in accordance with Section 2.01(c)(ii) hereof.

Daily Interest Rate means the interest rate on the Bonds established pursuant to Section 2.04 hereof

Daily Interest Rate means the rate of interest per annum during a Daily Interest Rate Mode determined by the Remarketing Agent on an Interest Rate Determination Date to be the lowest interest rate for the Interest Rate Period commencing on such Interest Rate Determination Date and applicable through the next succeeding Interest Rate Determination Date, in the judgment of the Remarketing Agent (taking into consideration current transactions and comparable securities with which the Remarketing Agent is involved or of which it is aware and prevailing financial market conditions) at which, as of such Interest Rate Determination Date, the Bonds could be remarketed at par, plus the accrued interest, if any; or (b) in the event that the Remarketing Agent has been removed or has resigned and no successor has been appointed, or the Remarketing Agent has failed to determine the Daily Interest Rate for whatever reason, or the Daily Interest Rate cannot be determined pursuant to clause (a) for whatever reason (including that a date is not a Business Day), the USD-SIFMA Municipal Swap Index then in effect; provided that in no event shall the Daily Interest Rate exceed the Maximum Rate.

Daily Interest Rate means a variable interest rate on all or a portion of the Bonds established daily in accordance with Section 2.3(B) hereof.

Daily Interest Rate means (i) for an Investment in the form of a loan or debt, the rate determined by dividing the per annum interest rate applicable to such Investment by 365, and (ii) for an Investment in the form of preferred, structured or other equity that has an associated contractual accruing dividend rate, the rate determined by dividing the per annum contractual accruing dividend rate applicable to such Investment by 365.

Daily Interest Rate means, with respect to the Revolving Credit Advances, an amount calculated by dividing the interest rate payable to a Lender on the Revolving Credit Advances (as determined pursuant to Section 1.5 and 1.6) as of each calendar day by three hundred sixty (360) days in the case of LIBOR Loans and three hundred sixty-five (365) days in the case of Index Rate Loans.