Taxable Rate definition

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

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.

Examples of Taxable Rate in a sentence

• After the above-described next scheduled Interest Payment Date, and for so long as the Taxable Rate remains in effect, the outstanding amount of the Series 2019A Bonds shall continue to bear interest at the Taxable Rate to be payable on the ensuing Interest Payment Dates.

• 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 due date 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.

• Upon the occurrence of a Determination of Taxability, the Series 2019A Bonds shall bear interest at the Taxable Rate from the Taxable Date and this adjustment shall survive payment of the Series 2019A Bonds until such time as the federal statute of limitations under which interest thereon could be declared taxable under the Code shall have expired.

More Definitions of Taxable Rate

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.

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

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 the interest rate per annum that shall provide the Lender with the same after tax yield that the Lender would have otherwise received had the Event of Taxability not occurred, taking into account the increased taxable income of the Lender as a result of such Event of Taxability. The Lender shall provide the Borrower 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 Borrower and the Authority.

Taxable Rate means _ % per annum.

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

Taxable Rate means an interest rate calculated to provide Lessor with an after-tax yield equivalent to the yield provided to Lessor by the interest rate at which the interest component of Lease Payments on a Property Schedule was originally calculated.