Fixed Rate Period. Interest on the Notes during the fixed rate period will be calculated on the basis of a 360-day year consisting of twelve 30-day months and, in the case of an incomplete month, on the basis of the actual number of days elapsed in such period. If any scheduled fixed rate interest payment date is not a business day, we will pay interest on the next business day, but interest on that payment will not accrue during the period from and after such scheduled fixed rate interest payment date.
Fixed Rate Period. (Check one only.)
(1) Dollars (US $ ), shall be payable on the first day of each month during the term hereof which follows a 28-day month;
Fixed Rate Period. At Rate Lock for a Fixed to Float Loan, Fxxxxxx Mac will provide to the Seller an interest rate quote for the Fixed Interest Rate to be applicable during the Fixed Rate Period, which will be based upon a spread or margin, as determined by Fxxxxxx Mac at Rate Lock, above the yield rate on the United States Treasury Security applicable to the term of the Fixed Rate Period. Such United States Treasury Security will also be referenced in the Note for the applicable Mortgage for the purposes of calculating prepayment premiums. During the Fixed Rate Period, interest on the principal balance of such Fixed to Float Loan will accrue at such Fixed Interest Rate.
Fixed Rate Period. During the period from (and including) August 21, 2023, to (but excluding) August 21, 2028, the Notes will bear interest at the rate of 6.208% per annum (the “Initial Interest Rate”). Such interest will be payable semi-annually in arrears on each February 21 and August 21 of each year, beginning on February 21, 2024 and ending on August 21, 2028 (each, a “Fixed Rate Period Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any scheduled Fixed Rate Period Interest Payment Date is not a Business Day, any payment of principal and interest on the Notes will be postponed to the next day that is a Business Day, but interest on that payment will not accrue during the period from and after the scheduled Fixed Rate Period Interest Payment Date.
(i) Floating Rate Period. During the period from (and including) August 21, 2028, to (but excluding) the Maturity Date (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 202 basis points per annum (the “Spread”), as determined in arrears by the Calculation Agent in the manner described herein, subject to the terms of the Interest Calculation Agreement. Such interest will be payable quarterly in arrears on November 21, 2028, February 21, 2029, May 21, 2029 and on the Maturity Date (each a “Floating Rate Period Interest Payment Date”). Such interest will be computed for the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date or the Maturity Date (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period for the Notes will begin on (and include) August 21, 2028 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.
(ii) The Calculation Agent will calculate the interest rate on the Notes quarterly on the second U.S. Government Securities Business Day preceding the applicable Floating Rate Period Interest Payment Date (the “Interest Determination Date”). In no event will the interest payable on the Notes be less than zero. Interest will be computed on the basis of the actual number of days in each Floating Rate Interest Period (or any other relevant period) and a 360-day year. The amount of accrued interest payable on the Notes for each Floating Rate Interest Period will be computed by multiplying (i) the outsta...
Fixed Rate Period. (i) In respect of the Fixed Rate Period shown on the face of such Note, each Hybrid Note bears interest on its Calculation Amount from the first day of the Fixed Rate Period at the rate per annum (expressed as a percentage) equal to the Interest Rate shown on the face of such Note payable in arrear on each Reference Date or Reference Dates shown on the face of the Note in each year and on the last day of the Fixed Rate Period if that date does not fall on a Reference Date.
(ii) The first payment of interest will be made on the Reference Date next following the first day of the Fixed Rate Period (and if the first day of the Fixed Rate Period is not a Reference Date, will amount to the Initial Broken Amount shown on the face of such Note), unless the last day of the Fixed Rate Period falls before the date on which the first payment of interest would otherwise be due. If the last day of the Fixed Rate Period is not a Reference Date, interest from the preceding Reference Date (or from the first day of the Fixed Rate Period, as the case may be) to the last day of the Fixed Rate Period will amount to the Final Broken Amount shown on the face of the Note.
(iii) Where the due date of redemption of any Hybrid Note falls within the Fixed Rate Period, interest will cease to accrue on the Note from the due date for redemption thereof unless, upon due presentation and subject to the provisions of the Trust Deed, payment of principal (or Redemption Amount, as the case may be) is improperly withheld or refused, in which event interest at such rate will continue to accrue (as well after as before judgment) at the rate and in the manner provided in this Condition 4(III) to the Relevant Date.
(iv) In the case of a Hybrid Note, interest in respect of a period of less than one year will be calculated on the Fixed Rate Day Basis shown on the face of the Note during the Fixed Rate Period.
Fixed Rate Period. January 1 and July 1 of each year, commencing on January 1, 2021. The last interest payment date for the fixed rate period will be July 1, 2025. Floating rate period: January 1, April 1, July 1 and October 1 of each year, commencing on October 1, 2025. Record Dates: The 15th calendar day immediately preceding the applicable interest payment date.
Fixed Rate Period. During all times when an Index Rate Period is not in effect the Power Reimbursement will be $0.050/kWh (the “Fixed Rate”).
Fixed Rate Period. During the period from, and including, August 2, 2024, to, but excluding, August 2, 2029 (the “Fixed Rate Period”), the Notes will bear interest at the rate of 5.935% per annum. Such interest will be payable semi-annually, in arrears, on February 2 and August 2 of each year, beginning on February 2, 2025, and ending on August 2, 2029 (each, a “Fixed Rate Period Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any scheduled Fixed Rate Period Interest Payment Date falls on a day that is not a Business Day, then payment of any interest, principal or premium payable on such date will be postponed to the next succeeding Business Day, with the same force and effect as if made on the date such payment was due, and no interest or other payment will accrue during the period from and after the scheduled Fixed Rate Period Interest Payment Date as a result of such delay.
Fixed Rate Period. During the period from, and including, August 16, 2022, to, but excluding, August 16, 2027 (the “Fixed Rate Period”), the Notes will bear interest at the rate of 4.553% per annum. Such interest will be payable semi-annually, in arrears, on February 16 and August 16 of each year, beginning on February 16, 2023 and ending on August 16, 2027 (each such date a “Fixed Rate Interest Payment Date”). During the Fixed Rate Period, interest will be computed on the basis of a 360-day year consisting of twelve 30-day months.
Fixed Rate Period. The principal balance shall bear interest from the date of this Note through and including the last day of the Fixed Rate Period at the rate of seven and one half percent (7 1/2%) per annum.
