Floating Rate Period. Subject to the Remarketing Dealer's election to purchase the ROARS, but prior to the fourth Business Day prior to the first Remarketing Date (the "Floating Period Notification Date"), the Company may elect to exercise its Floating Period Option. Under these circumstances, the ROARS shall be remarketed at a floating rate for a period of one year, or until such date (the "Floating Period Termination Date") which is the Remarketing Date following the date on which the Company elects to terminate such Floating Rate Period (the "Floating Rate Period Termination Notification Date"), whichever is sooner. The amount of the interest for each day that the ROARS are outstanding during the Floating Rate Period will be calculated by dividing the Floating Rate Interest Rate in effect for such day by 360 and multiplying the result by the Dollar Price. The amount of interest to be paid for any Floating Rate Reset Period will be calculated by adding the daily interest amounts for each day in the Floating Rate Reset Period. For this purpose the following terms shall have the following meanings:
Floating Rate Period. During the period from, and including, August 16, 2027, to, but excluding, the Maturity Date (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to Compounded SOFR (as defined below) plus 1.780%, as determined in arrears by the Calculation Agent (as defined below) in the manner described below. Such interest will be payable quarterly, in arrears, on November 16, 2027, February 16, 2028, and May 16, 2028 and at the Maturity Date (each such date a “Floating Rate Interest Payment Date”). Compounded SOFR for each Interest Period will be calculated by the Calculation Agent in accordance with the formula set forth in Section 3.07 with respect to the Observation Period (as defined below) relating to such Interest Period. During the Floating Rate Period, interest will be computed on the basis of the actual number of days in each Interest Period (or any other relevant period) and a 360-day year. The amount of accrued interest payable on the Notes for each Interest Period will be computed by multiplying (i) the outstanding principal amount of the Notes by (ii) the product of (a) the interest rate for the relevant Interest Period multiplied by (b) the quotient of the actual number of calendar days in the applicable Interest Period (or any other relevant period) divided by 360. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application and will in no event be lower than zero. The Calculation Agent will determine Compounded SOFR, the interest rate and accrued interest for each Interest Period in arrears as soon as reasonably practicable on or after the Interest Payment Determination Date (as defined below) for such Interest Period and prior to the relevant Interest Payment Date and will notify the Company (if the Company is not the Calculation Agent) of the Compounded SOFR, such interest rate and accrued interest for each Interest Period as soon as reasonably practicable after such determination, but in any event by the Business Day immediately prior to the Interest Payment Date. At the request of a Holder of the Notes, the Company will provide the Compounded SOFR, the interest rate and the amount of interest accrued with respect to any Interest Period, after the Compounded SOFR, such interest rate and accrued interest have been determined. The Calculation Agent’s determination of any interest rate, and its cal...
Floating Rate Period. (1) In accordance with procedures established in the Remarketing Agreement and subject to Section 3.6, if the Issuer exercises the Floating Rate Option no later than the 5th Business Day prior to the Floating Rate Spread Determination Date by providing notice to the Trustee and Remarketing Agent, then the Securities shall bear interest at the Floating Period Interest Rate for each Floating Rate Reset Period in the Floating Rate Period.
Floating Rate Period. (i) During the period from, and including, August 2, 2029 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 213 basis points, as determined in arrears by the Calculation Agent in the manner described herein. Such interest will be payable quarterly, in arrears, on November 2, 2029, February 2, 2030, May 2, 2030 and at the Maturity Date (each a “Floating Rate Period Interest Payment Date”).
Floating Rate Period. During the Floating Rate Period, dividends on the Designated Preferred Stock will accrue with respect to each Dividend Period at the Floating Rate as determined on the Dividend Determination Date for such Dividend Period.
Floating Rate Period. Following the Remarketing Dealer's election to purchase the ROARS on the first Remarketing Date, but prior to 4:00 p.m., New York City time, on the fourth Business Day immediately preceding such Remarketing Date, the Company may elect to exercise its Floating Period Option. If the Company makes such election, the ROARS shall bear interest at the Floating Period Interest Rate until the Floating Period Termination Date. In the event that the Company elects to exercise its Floating Period Option, the Stated Maturity Date of the ROARS shall be adjusted to a date which shall be no later than the tenth anniversary of the Fixed Rate Remarketing Date.
Floating Rate Period. Following the Remarketing Dealer's election to purchase the ROARS, but prior to the fourth Business Day prior to the first Remarketing Date (the "Floating Period Notification Date"), the Company may elect to exercise its Floating Period Option. Under these circumstances, the ROARS shall be remarketed at floating rate for a period of one year, or until such date which otherwise would be the Reference Rate Reset Date following the date on which the Company elects to terminate such Floating Rate Period (the "Floating Rate Period Termination Notification Date"), whichever is sooner (the "Floating Period Termination Date"). In the event that the Company elects to exercise its Floating Period Option, the maturity of the ROARs will be extended to the fifth anniversary of the Fixed Rate Remarketing Date, not to exceed July 1, 2009. The amount of the interest for each day that the ROARS are outstanding during the Floating Rate Period will be calculated by dividing the Floating Period Interest Rate in effect for such day by 360 and multiplying the result by the Dollar Price. The amount of interest to be paid for any Floating Rate Reset Period will be calculated by adding the daily interest amounts for each day in the Floating Rate Reset Period. The Floating Period Interest Rate for the ROARS announced by the Remarketing Dealer, absent manifest error, will be binding and conclusive upon the holders of beneficial interests in such ROARS (the "Beneficial Owners"), the Company and the Trustee. For this purpose the following terms shall have the following meanings:
Floating Rate Period. (i) Subject to Article IV, during a Floating Rate Period, the Notes will bear interest at the per annum rate of Three-Month LIBOR plus a margin equal to 1.815% (the “Floating Rate”), payable quarterly in arrears on each Interest Payment Date.
Floating Rate Period. (i) Subject to the provisions of Section 2.06, Section 2.07 and Section 2.08, during the Floating Rate Period, the Notes shall accrue interest at an annual rate of 3-month LIBOR plus a margin equal to 290.5 basis points (the "FLOATING RATE"), payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year (each, a "FLOATING RATE INTEREST PAYMENT DATE"), commencing on June 1, 2016 to the Person in whose name the Note is registered in the Security Register at the close of business on the applicable Regular Record Date.
Floating Rate Period. (i) In respect of the Floating Rate Period shown on the face of such Note, each Hybrid Note bears interest on its Calculation Amount from the first day of the Floating Rate Period, and such interest will be payable in arrear on each interest payment date (“Interest Payment Date”). Such Interest Payment Date is/are either shown hereon as Specified Interest Payment Dates or, if no Specified Interest Payment Date(s) is/are shown hereon, Interest Payment Date shall mean each date which (save as mentioned in these Conditions) falls the number of months specified as the Interest Period on the face of the Note (the “Specified Number of Months”) after the preceding Interest Payment Date or, in the case of the first Interest Payment Date, after the first day of the Floating Rate Period (and which corresponds numerically with such preceding Interest Payment Date or the first day of the Floating Rate Period, as the case may be). If any Interest Payment Date referred to in these Conditions that is specified to be subject to adjustment in accordance with a Business Day Convention would otherwise fall on a day that is not a business day, then if the Business Day Convention specified is (1) the Floating Rate Business Day Convention, such date shall be postponed to the next day which is a business day unless it would thereby fall into the next calendar month, in which event (i) such date shall be brought forward to the immediately preceding business day and (ii) each subsequent such date shall be the last business day of the month in which such date would have fallen had it not been subject to adjustment, (2) the Following Business Day Convention, such date shall be postponed to the next day that is a business day, (3) the Modified Following Business Day Convention, such date shall be postponed to the next day that is a business day unless it would thereby fall into the next calendar month, in which event such date shall be brought forward to the immediately preceding business day or (4) the Preceding Business Day Convention, such date shall be brought forward to the immediately preceding business day.
