Reset Rate definition

Reset Rate means, in connection with each Remarketing, the rate per annum (as determined by the Remarketing Agent(s) in consultation with the Company pursuant to the Remarketing Agreement) rounded to the nearest one thousandth (0.001) of one percent that the Notes shall bear.

Reset Rate has the meaning specified in Section 2(d).

Reset Rate has the meaning set forth in the Remarketing Agreement.

Examples of Reset Rate in a sentence

• If two or more of the Reference Banks provide the Calculation Agent with Mid-Market Swap Rate Quotations, the First Reset Rate of Interest or the Subsequent Reset Rate of Interest (as applicable) for the relevant Reset Period shall be the sum of the arithmetic mean (rounded, if necessary, to the nearest 0.001 per cent.

• The determination of the Reset Rate of Interest by the Agent Bank shall (in the absence of manifest error) be final and binding upon all parties.

• The First Reset Rate of Interest and each Subsequent Reset Rate of Interest shall be determined by the Calculation Agent at or as soon as practicable after each time at which the relevant Rate of Interest is to be determined.

• If the Calculation Agent does not at any time for any reason determine the First Reset Rate of Interest or Subsequent Reset Rate of Interest, the Trustee may (at the expense of the Issuer) appoint an agent to do so and such determination or calculation shall be deemed to have been made by the Calculation Agent.

• The Subsequent Reset Rate for any relevant Reset Period could be less than the relevant Initial Rate of Interest or the relevant Subsequent Reset Rate for prior Reset Periods and could affect the market value of an investment in the relevant Reset Notes.

More Definitions of Reset Rate

Reset Rate has the meaning set forth in Section 1.02(e) of the Supplemental Indenture.

Reset Rate means the Coupon Rate to be in effect for the Debentures on and after the Reset Effective Date and determined as provided in Section 4.1.

Reset Rate has the meaning specified in Section 2(d) of this Agreement.

Reset Rate has the meaning set forth in the Declaration.

Reset Rate means the distribution rate per annum (to be determined by the Reset Agent), equal to the sum of (X) the Reset Spread and (Y) the rate of interest on the Two-Year Benchmark Treasury in effect on the third Business Day immediately preceding Purchase Contract Settlement Date, that the Preferred Securities should bear in order for the Preferred Securities to have an approximate market value of [ %] of their aggregate liquidation amount on the third Business Day immediately preceding the Purchase Contract Settlement Date; provided, that the Sponsor may limit such Reset Spread to be no higher than [ ] basis points [ %].

Reset Rate has the meaning set forth in Section 2.1(p).

Reset Rate means (A) if Mid-Swap Rate is specified in the applicable Final Terms, the relevant Mid-Swap Rate, or (B) if Reference Bond Rate is specified in the applicable Final Terms, the relevant Reference Bond Rate;