Daily Interest Rate Period definition

Daily Interest Rate Period means each period during which a Daily Interest Rate is in effect.

Daily Interest Rate Period means each period during which a Daily Interest Rate is in effect for the Bonds.

Daily Interest Rate Period. The Interest Rate Period for any Note in the Daily Interest Rate Mode will commence at the beginning of each Business Day and end at the end of the calendar day preceding the next Business Day. The interest rate for such Notes will be determined each Business Day not later than 9:30 a.m., New York City time on such day (subject to Section 206). The Daily Interest Rate Mode shall occur only so long as the Notes are maintained in a book-entry system.

Examples of Daily Interest Rate Period in a sentence

• The term ―Authorized Denominations‖ shall mean, with respect to the Bonds, (a) which are subject to a Long-Term Interest Rate Period, $5,000 or any integral multiple thereof, and (b) which are subject to a Daily Interest Rate Period, a Weekly Interest Rate Period or a Short-Term Interest Rate Period, $100,000 or any integral multiple of $5,000 in excess of $100,000.

• Interest shall be computed, in the case of a Long-Term Interest Rate Period, on the basis of a 360-day year consisting of twelve 30-day months, and in the case of a Daily Interest Rate Period, a Weekly Interest Rate Period or a Short-Term Interest Rate Period, on the basis of a 365 or 366-day year, as appropriate, for the actual number of days elapsed.

• For any Daily Interest Rate Period for Bonds, interest on the Bonds shall be payable on each Interest Payment Date for the period commencing on the Interest Accrual Date preceding the prior Interest Payment Date and ending on the last day of such month.

• During each Daily Interest Rate Period for Bonds, the Bonds shall bear interest at the Daily Interest Rate, which shall be determined by the Remarketing Agent on each Business Day for such Business Day.

• The Trustee shall give notice by first-class mail of a Conversion to a Daily Interest Rate Period to the Owners of the Bonds not less than ten (10) days prior to the proposed effective date of such Daily Interest Rate Period.

More Definitions of Daily Interest Rate Period

Daily Interest Rate Period means each period of time during which Daily Interest Rates are in effect.

Daily Interest Rate Period means each period during which a Daily Interest Rate is in effect for a series of the Bonds.

Daily Interest Rate Period means each period during which Daily Interest Rates are in effect.

Daily Interest Rate Period means each period during which a Daily Interest Rate is in effect for the Series 2021A Refunding Bonds.

Daily Interest Rate Period means, with respect to a Series of the Notes, each period during which a Daily Interest Rate is in effect.

Daily Interest Rate Period means each period during which the Bonds of a Series bear interest at Daily Interest Rates in accordance with the Indenture.

Daily Interest Rate Period means each period during which a Daily Interest Rate is in effect. “Determination of Taxability” means a determination that, due to the untruth or inaccuracy of anyrepresentation or warranty made by the Company in the Agreement or the breach of any covenant or warranty of the Company contained in the Agreement, interest on the Bonds, or any of them, is determined not to be Tax-exempt by (i) a final administrative determination of the Internal Revenue Service or a final judicial decision of a court of competent jurisdiction in a proceeding of which the Company received notice and in which the Company was afforded an opportunity to participate to the full extent permitted by law or (ii) an opinion of Bond Counsel obtained by the Guarantor or the Company and delivered to the Trustee with a copy to be delivered to the Issuer. A determination or decision will not be considered final for purposes of the preceding sentence unless (A) the Issuer or the holder or holders of the Bonds involved in the proceeding in which the issue is raised (i) has given the Company and the Trustee prompt written notice of the commencement thereof, and (ii) has offered the Company the opportunity to control the proceeding; provided the Company agrees to pay all expenses and costs in connection therewith and to indemnify the Issuer and such holder or holders against all liability for such expenses and costs (except that any such holder may engage separate counsel for the holder or holders of the Bonds, and the Company will not be liable for the fees or expenses of such counsel but shall be liable for the fees and expenses of counsel to the Issuer); and (B) such proceeding is not subject to a further right of appeal or has not been timely appealed.