Delayed Payment Interest Rate definition

Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of The New York Times preceding the Executive’s separation from service.

Delayed Payment Interest Rate means the short term Applicable Federal Rate as of the business day immediately preceding the payment date for the applicable delayed payment.

Delayed Payment Interest Rate is equal to [REDACTED] plus the three (3) month nominal constant maturity treasury rate, as published by the United States Federal Reserve in daily release H.15 on the website xxxxx://xxx.xxxxxxxxxxxxxx.xxx/releases/h15/ at the end of the day immediately preceding the period with respect to which a Delayed Payment Interest Penalty is to be calculated.

Examples of Delayed Payment Interest Rate in a sentence

• Delayed Payment Interest Rate refers to the interest rate (net of Account Administration Fees of 1.25% per annum) declared on the Interest Declaration Date by the Company as set out under clause 3.3.4. Interest Declaration Date refers to the 15th day of February of every English calendar year (or on the next official working day in case the Interest Declaration Date falls on a public holiday) wherein a Guaranteed Interest Rate and Delayed Payment Interest Rate is declared.

• The Guaranteed Interest Rate as well as the Delayed Payment Interest Rate declared may vary in each year and the Company does not guarantee or assure either a minimum or maximum Guaranteed Interest Rate or Delayed Payment Interest Rate in any year.

• On any delayed payment date under this Section there shall be paid to the Executive or, if the Executive has died, to his estate, in a single cash lump sum together with the payment of such delayed payment, interest on the aggregate amount of such delayed payment at the Delayed Payment Interest Rate (defined below in this S ection 10.2) computed from the date on which such delayed payment otherwise would have been made to the Executive until the date paid.

• On any delayed payment date under this Section 8.9.2, there shall be paid to the Executive or, if the Executive has died, to Executive’s estate, in a single cash lump sum together with the payment of such delayed payment, interest on the aggregate amount of such delayed payment at the Delayed Payment Interest Rate (as defined below) computed from the date on which such delayed payment otherwise would have been made to the Executive until the date paid.

• For purposes of the foregoing, the “ Delayed Payment Interest Rate ” shall mean the prime interest rate as reported in The Wall Street Journal as of the business day immediately preceding the payment date for the applicable delayed payment.

More Definitions of Delayed Payment Interest Rate

Delayed Payment Interest Rate means the prime interest rate as reported in The Wall Street Journal as of the business day immediately preceding the payment date for the applicable delayed payment.

Delayed Payment Interest Rate means the short term applicable federal rate provided for in Section 1274(d) of the Code as of the business day immediately preceding the payment date for the applicable delayed payment. To the extent that this Agreement provides for any payments of nonqualified deferred compensation (within the meaning of Section 409A) to be made in installments (including, without limitation, any severance payments), each such installment shall be deemed to be a separate and distinct payment for purposes of Section 409A.

Delayed Payment Interest Rate means the highest interest rate, as of the first day of the month in which the Separation from Service occurs, payable by the Company on its outstanding publicly-traded debt (or if no such public debt is then outstanding, the rate at which the Company could then borrow from its primary bank lender) plus 100 basis points.

Delayed Payment Interest Rate means the JPMorgan Chase prime interest rate for the first business day of the month in which the Separation from Service occurs.

Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of The New York Times preceding the date as of which the Executive is treated as having incurred a separation from service for purposes of Section 409A. In the case of each Plan under which the Executive is entitled to receive amounts treated as deferred compensation subject to the Code section 409A and which provides for payment of such amounts in the form of “a series of installment payments”, as defined in Treas. Reg. §1.409A-2(b)(2)(iii), (A) the Executive’s right to receive such payments shall be treated as a right to receive a series of separate payments under Treas. Reg. §1.409A-2(b)(2)(iii), and (B) to the extent such Plan does not already so provide, it is hereby amended to so provide, with respect to amounts payable to the Executive thereunder.

Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “separation from service” for purposes of Section 409(a)(2)(B)(i). The Parties also agree that all amounts required to be paid hereunder to the Executive or to his estate or beneficiaries shall, notwithstanding any other provision in this Agreement requiring such amounts to be paid at a different time, be paid by no later than the latest date by which such amounts would have to be paid in order not to be treated under Section 409A as includible in gross income for any tax year earlier than the tax year in which such payment otherwise was scheduled to be made under the terms of this Agreement.

Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date on which the Term of Employment ends or, if earlier, the date as of which Executive is treated as having incurred a "separation from service" for purposes of section 409A(a)(2)(B)(i). PALL CORPORATION By: /s/ XXXXXX XXXXXX --------------------------------- Xxxxxx Xxxxxx, President EXECUTIVE /s/ XXXX XXXXXXXX ------------------------------------- Xxxx Xxxxxxxx