Change to Fixed Rate Mode Sample Clauses

Change to Fixed Rate Mode. At the option of the Authority, a 2024 Series B-2 Bond may be changed to the Fixed Rate Mode as provided in this Section 2.10(b). Not less than 45 days (or such shorter time as may be agreed to by the Authority, the Trustee and the Remarketing Agent) before the proposed Mode Change Date for such Bond, the Authority shall give written notice to the Notice Parties stating that the Mode will be changed to the Fixed Rate Mode and setting forth the proposed Mode Change Date and that the 2024 Series B-2 Bonds to be converted to the Fixed Rate Mode will not be covered by the Liquidity Facility. Any such change in Mode shall be made as follows:
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Change to Fixed Rate Mode. At the option of the Borrower, the Bonds of any subseries (other than Bonds in the Long Indexed Mode and the Stepped Coupon Mode) may be changed to the Fixed Rate Mode as provided in this Subsection B. Not less than 20 days (or such shorter time as may be agreed to by the Trustee and the Remarketing Agent for such Bonds) before the proposed Mode Change Date, the Borrower shall give written notice to the Issuer, the Trustee, the Tender Agent, such Remarketing Agent, and the Credit Facility Provider (if any) and Liquidity Facility Provider (if any) for such Bonds and each Rating Agency then rating such Bonds, stating that the Mode for such Bonds will be changed to the Fixed Rate Mode and setting forth the proposed Mode Change Date and a schedule specifying the principal amount of such Bonds, if any, which shall mature or be subject to redemption pursuant to Section 4.01F on November 1 of each year specified in such schedule. Any such change in Mode shall be made on the following terms and conditions:
Change to Fixed Rate Mode. Bonds to be changed to the Fixed Rate Mode are subject to mandatory purchase on the Mode Change Date at the Purchase Price (subject to Section 2.10). The Tender Agent shall give notice of such mandatory purchase as part of the notice of change of Mode to be sent to the Bondholders pursuant to Section 2.12B(3). The failure to give such notice with respect to any Bond shall not affect the validity of the mandatory purchase of any other Bond with respect to which notice was so given. Any notice mailed will be conclusively presumed to have been given, whether or not actually received by any Bondholder.
Change to Fixed Rate Mode. At the option of the Company and with the prior written consent of the Bond Insurer, the Bonds may be changed to the Fixed Rate Mode as provided in this Section 509(b). On any Business Day which is at least 30 days (or such shorter time as may be agreed to by the Authority, the Company, the Trustee and the Remarketing Agent, but in any event not less than the 15th day next preceding the Mode Change Date) before the proposed Mode Change Date, the Company shall give written notice to the Notice Parties stating that the Mode will be changed to the Fixed Rate Mode and setting forth the proposed Mode Change Date. Such notice shall also state whether or not there shall be Credit Enhancement with respect to the Bonds following such change and, if so, the identity of the Credit Provider. Any such change in Mode shall be made as follows:
Change to Fixed Rate Mode. At the option of the Borrower, a Bond may be changed to the Fixed Rate Mode as provided in this Section 404(b). Not less than forty-five (45) days (or such shorter time as may be agreed to by the Borrower, the Trustee and the Remarketing Agent) before the proposed Mode Change Date for such Bond, the Borrower shall give written notice to the Notice Parties stating that the Mode will be changed to the Fixed Rate Mode and setting forth the proposed Mode Change Date. Such notice shall also state whether or not some or all of the Bonds to be converted shall be converted to serial bonds and, if so, the applicable serial maturity dates and serial payments, all as determined pursuant to the provisions of subsection (v) of this subsection (b). Any such change in Mode shall be made as follows: Conditions Precedent. The Mode Change Date shall be: a Business Day; in the case of a change from the Commercial Paper Mode, the Purchase Date for the Commercial Paper Bond to be changed to the Fixed Rate Mode; and in the case of a change from the Term Rate Mode, a day on which the Bond being converted is subject to optional redemption. Notice to Owners. Not less than the thirtieth (30th) day next preceding the Mode Change Date, the Paying Agent shall mail a notice of such proposed change to the Owners of the Bonds being converted stating that the Mode will be changed to the Fixed Rate Mode, the proposed Mode Change Date and that such Owner is required to tender such Owner's Bonds for purchase on such proposed Mode Change Date.
Change to Fixed Rate Mode. At the option of the Borrower, the Bonds of a subseries may be changed to the Fixed Rate Mode (or to a new Fixed Rate Mode) as provided in this Section 2.07(b). Not less than five Business Days prior to the date that notice to the Owners must be given by the Trustee pursuant to Section 3.03 hereof (or such shorter time as may be agreed to by the Borrower and the Trustee), the Borrower shall give written notice to the Notice Parties stating that the Mode for such Bonds will be changed to the Fixed Rate Mode (or to a new Fixed Rate Mode) and setting forth the proposed Mode Change Date. If the Bonds of the subseries being converted are in the Commercial Paper Mode, no Interest Period for a Bond of such subseries set after delivery by the Borrower to the Remarketing Agent of the notice of the intention to effect a change in Mode with respect to such subseries of Bonds shall extend beyond the proposed Mode Change Date. Any such change in Mode shall be made in accordance with the provisions, and subject to the conditions, set forth below:

Related to Change to Fixed Rate Mode

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

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