Fixed Interest Option definition

Fixed Interest Option means an option whereby payments made are based on a guaranteed interest rate equal to the assumed interest rate. The fixed interest option is supported by the general account.
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Fixed Interest Option. The Fixed Account is an obligation of our General Account. Fixed Interest Options Investment options, including the Fixed Account, the Fixed Plus Account and the Guaranteed Accumulation Account that credit interest. The Fixed Interest Options available during the Accumulation Phase are shown on Contract Schedule I under Fixed Interest Options Available. Fixed Plus Account A Fixed Interest Option. Limitations apply to withdrawals from the Fixed Plus Account. The Fixed Plus Account is an obligation of our General Account.
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Fixed Interest Option means a fixed interest period the Account Owner may select to apply to a portion of the Debit Balance in accordance with clause D and may be of a duration of 30, 60, 90 or 180 days or 1, 2, 3, 4 or 5 years, or such other period to which Rabobank may, in its discretion, agree;
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Examples of Fixed Interest Option in a sentence

  • During the Accumulation Phase, any portion or all of the Individual Account value held in a Fund may be transferred to any other Fund or any available Fixed Interest Option.

  • Guaranteed Accumulation Account (GAA) A Fixed Interest Option that may be available during the Accumulation Phase.

  • For amounts withdrawn withdraw from a Fixed Interest Option, we will reduce the value of the Fixed Interest Option by the dollar amount of that portion of the withdrawal (and with respect to the Guaranteed Accumulation Account, will reflect any positive or negative market value adjustment) and will reduce your Account Value accordingly.

  • Where some or all of the Debit Balance is subject to the Variable Rate, Rabobank may apply that money to its repayment, and to the repayment of any Fixed Interest Option on its maturity.

  • If a repayment of the whole or part of a Fixed Interest Option is dishonoured, the Fixed Interest Option or part thereof may not be reinstated and the amount of that Option or part will become subject to the Variable Rate.

  • Rabobank will not vary the Margin for an individual Fixed Interest Option during its term.

  • At the end of a Fixed Interest Option, the portion of the Debit Balance subject to that Option will become subject to the Variable Rate plus the Margin (unless the Account Owner has selected a further Fixed Interest Option to apply to that portion).

  • Requesting a Drawing and selecting a Fixed Interest Option Owner provides Rabobank with written confirmation that the Facility is no longer required.

  • Where a portion of the Debit Balance is subject to a Fixed Interest Option, the Account Owner may, subject to Rabobank’s agreement and on whatever terms Rabobank may determine, pay an amount which represents interest which will become payable on the Fixed Interest Option.

  • Subject to the agreement which Rabobank makes with the Account Owner, an amount paid by the Account Owner under this clause will be held by Rabobank to offset amounts of interest calculated on the Fixed Interest Option.


More Definitions of Fixed Interest Option

Fixed Interest Option means the option under the Contract for the Borrower to select a Fixed Rate Period to apply to a Drawing.
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Fixed Interest Option means a fixed interest period the Borrower may select to apply to a drawdown of the Facility and may be of a duration of 1, 2, 3 or 6 months or 1, 2, 3, 4 or 5 years or such other period to which Rabobank may, in its absolute discretion, agree; “Insolvency Provision” means any law relating to insolvency, sequestration, liquidation, or bankruptcy (including any law relating to the avoidance of conveyances in fraud of creditors and of preferences and any law under which a liquidator or trustee in bankruptcy may set aside or avoid transactions) and any provision of any agreement, arrangement or scheme, formal or informal, relating to the administration of any of the assets of any person;
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Related to Fixed Interest Option

  • Interest Option means LIBOR or the Reference Rate.

  • Postponed Fixed Interest Date means the tenth Business Day following the originally scheduled Fixed Interest Date;

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Adjusted Interest Rate means, with respect to any Reset Transaction, the rate per annum that is the arithmetic average of the rates quoted by two Reference Dealers selected by the Company or its successor as the rate at which interest on the Securities should accrue so that the fair market value, expressed in dollars, of a Security immediately after the later of: