Rate Per Annum Definition | Law Insider

Rate per Annum definitionRate per Annum means the specified rate per annum computed on the basis of a 360-day year; provided, that in the event dividends are not paid in full in cash on any applicable Dividend Reference Date or upon any Redemption Date, the Rate per Annum for the applicable period shall be increased by 500 basis points (e.g., a 9.0% Rate per Annum would be increased to a 14.0% Rate per Annum) until such dividends are paid in full in cash.View SourceBased on 6 documents6Draft with AISplit ViewAI-Powered Contracts

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Get StartedBook a DemoRate per Annum means the specified rate per annum computed on the basis of actual days elapsed in a 360-day year.View SourceBased on 2 documents2Draft with AIRate per Annum means 3 months IBOR (or EURIBOR in the case of drawdowns in EUR) plus a 220 basis point per annum margin.View SourceBased on 1 documents1Draft with AI

Examples of Rate per Annum in a sentence

• Consolidated L/C Commission Capitalization Ratio (Rate per Annum) ------------------------------ ---------------- less than .20 .3750% at least .20 but less than .30 .4500% at least .30 but less than .40 .5000% at least .40 .5625%.".

• By: ___________________________________ Title: __________________________________ SCHEDULE A TO THE SHAREHOLDER SERVICING AGREEMENT (Effective as of February 19, 2005) Fee Rate per Annum JPMorgan Value Opportunities Fund, Inc.

• AMENDED AND RESTATED PLAN OF DISTRIBUTION PURSUANT TO RULE 12B-1 UNDER THE INVESTMENT COMPANY ACT Series and Class Rate per Annum ---------------- -------------- BNY ▇▇▇▇▇▇▇▇ Large Cap Equity Fund - Class A Shares...........

Related to Rate per Annum

• Rate Period or "n(t-1,t)" means, in respect of a Relevant Business Day, (i) the number of calendar days from (and including) the Relevant Business Day immediately preceding such Relevant Business Day to (but excluding) such Relevant Business Day, divided by (ii) 360;

• Per Annum means for a year deemed to be comprised of 360 days.

• Rate means the Adjusted LIBO Rate and the Alternate Base Rate.

• LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

• One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by ▇▇▇▇▇ Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

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Related Definitions

• Rate Period
• Per Annum
• Rate
• LIBOR Daily Floating Rate
• One Month LIBOR Rate