Fixed Rate Interest definition

Fixed Rate Interest means the fixed rate of interest payable on your Account during the Fixed Term.
View Source
Fixed Rate Interest. Fixed Rate Interest shall be calculated at a rate equal at all times to the Bank's Cost of Funds (COF) plus 0.35% per annum calculated on a 360 day accrual basis. Rates may be fixed for periods of 30 days, 60 days, 90 days, 120 days or 180 days. Cost of Funds is defined as the Bank's cost of borrowing in the domestic interbank market for the term requested plus any applicable reserves, taxes, or other expenses relating to the transaction.
View Source

Examples of Fixed Rate Interest in a sentence

  • If any scheduled Fixed Rate Interest Payment Date is not a Business Day, the Company shall pay interest on the next Business Day, but interest on that payment shall not accrue during the period from and after such scheduled Fixed Rate Interest Payment Date.

  • The interest payable during the Fixed Rate Period will be paid to each Holder in whose name a Note is registered at the close of business on the fifteenth day (whether or not a Business Day) immediately preceding the applicable Fixed Rate Interest Payment Date (each such date, a “Fixed Rate Regular Record Date”).

  • In the event that any scheduled Fixed Rate Interest Payment Date for the Notes falls on a day that is not a Business Day, then payment of interest payable on such Fixed Rate Interest Payment Date will be postponed to the next succeeding day that is a Business Day (and no interest on such payment will accrue for the period from and after such scheduled Fixed Rate Interest Payment Date).

  • In the event that any scheduled Fixed Rate Interest Payment date on this Note falls on a day that is not a Business Day (as defined in the Indenture), then payment of interest payable on such Fixed Rate Interest Payment Date will be postponed to the next succeeding day that is a Business Day and no additional interest shall accrue.

  • The amount of interest payable on any Fixed Rate Interest Payment Date during the Fixed Rate Period will be computed on the basis of a 360-day year consisting of twelve 30-day months, and the amount of interest payable on any Floating Rate Interest Payment Date during the Floating Rate Period will be computed on the basis of a 360-day year and the actual number of days elapsed.

  • If a Fixed Rate Interest Payment Date or the Stated Maturity Date for this Security falls on a day that is not a Business Day, the interest payable on such Interest Payment Date or the payment of principal and interest on the Stated Maturity Date will be paid on the next succeeding Business Day, but the payments made on such dates will be treated as being made on the date that the payment was first due and the Holder of this Security will not be entitled to any further interest or other payment.

  • If any Fixed Rate Interest Payment Date, stated maturity date or earlier redemption date for the Notes is not a Business Day, the Company will make the required payment of principal, premium, if any, and interest, if any, on the next succeeding Business Day, and no interest will accrue on the amount so payable for the intervening period.

  • The interest payable during the Fixed Rate Period will be paid to each Holder in whose name a Note is registered at the close of business on the fifteenth day (whether or not a Business Day) immediately preceding the applicable Fixed Rate Interest Payment Date.

  • If any scheduled Fixed Rate Interest Payment Date is not a business day, we will pay interest on the next business day, but interest on that payment will not accrue during the period from and after such scheduled Fixed Rate Interest Payment Date.

  • The first interest period shall begin on, and include, the last Fixed Rate Interest Payment Date to, but exclude, the First Floating Interest Payment Date.

Related to Fixed Rate Interest

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Floating Rate Interest Period means the period from (and including) a Floating Rate Interest Payment Date (or the Call Date, in the case of the initial Floating Rate Interest Period) to (but excluding) the next succeeding Floating Rate Interest Payment Date.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Floating Rate Interest Payment Date has the meaning set forth in Section 2.5(b)(ii) hereof.