Interest Rate Reset Sample Clauses

Interest Rate Reset. The applicable interest rate borne by the Senior Notes on and after the Purchase Contract Settlement Date shall be reset pursuant to the Remarketing on the third Business Day immediately preceding the Purchase Contract Settlement Date to a rate equal to the Reset Rate (such Reset Rate to be in effect on and after the Purchase Contract Settlement Date).

Interest Rate Reset. The applicable interest rate borne by the Debt Securities, whether or not part of Corporate Units, shall be reset to the Reset Rate, pursuant to the Indenture, and will be effective with respect to all Debt Securities, whether or not then constituting a component of Corporate Units, as of the Remarketing Settlement Date, in the case of a Successful Remarketing, or, as of the Purchase Contract Settlement Date, in the event of a Failed Remarketing or in the event there is no Remarketing pursuant to clause (c) of the definition of Reset Rate in the Indenture Officers' Certificate.

Interest Rate Reset. The applicable interest rate borne by the Senior Notes, whether or not part of Corporate PIES, shall be reset to the Reset Rate, pursuant to the Indenture, and will be effective with respect to all Senior Notes, whether or not then constituting a component of Corporate PIES, as of the Remarketing Settlement Date, in the case of a Successful Remarketing, or, as of the Purchase Contract Settlement Date, in the event of a Failed Remarketing or in the event there is no Remarketing pursuant to clause (c) of the definition of Reset Rate in the Indenture Officers' Certificate.

Interest Rate Reset. The interest rate on this Security will be reset from time to time, as provided in this Section 3, and each date upon which such rate is reset as so provided is hereinafter called an "Interest Reset Date". Unless otherwise specified on the face hereof, the Interest Reset Dates with respect to this Security will be as follows: (i) if the Interest Reset Period is daily, each Business Day;

Interest Rate Reset. Unless a Tax Event Redemption has occurred, the applicable interest rate borne by the Senior Notes, whether or not part of Corporate Units, shall be reset to the Reset Rate, pursuant to the Supplemental Indenture, and will be effective with respect to all Senior Notes, whether or not then constituting a component of Corporate Units, as of the Remarketing Settlement Date, in the case of a Successful Remarketing, or, as of the Purchase Contract Settlement Date, in the event of a Failed Remarketing or in the event there is no Remarketing pursuant to clause (iii) of the definition of Reset Rate in the Supplemental Indenture.

Interest Rate Reset. XXX% = 7.7% (10 YR of 7.7% x Age Adjustment of 70 Year Old of [1.10]) • Interest Rate Reset Calculation = $6,930 (XXX% of 7.7%x Covered Fund Value of $90,000) • Since Interest Rate Reset calculation of $6,930 is higher than current XXX of $6,600 then the new XXX = $6,930 Ratchet: • Ratchet Calculation = $4,950 (XXX% of 5.5% x Covered Fund Value of $90,000) • Since Ratchet Calculation is lower than the current XXX of $6,600 then no Ratchet Result: • NEW XXX = $6,930 • NEW BENEFIT BASE = $90,000 • NEW XXX% = 7.7% On Initial Installment Date: 70 Year Old Single Covered Person Covered Fund Value = $108,000 Benefit Base = $120,000 10 YR = 5% XXX% = 5.5% (10 YR of 5% x Age Adjustment of [1.10]) XXX = $6,600 (XXX% of 5.5% x Benefit Base of $120,000) On 5th Anniversary of Initial Installment Date: Customer is now a 75 Year Old Single Covered Person Covered Fund Value - $140,000 Current 10 YR = 4%

Interest Rate Reset. If specified on the face hereof, the Company has the option to reset the interest rate, in the case of a Fixed Rate Note, or to reset the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, on the date or dates specified on the face hereof (each an "Optional Reset Date") and on the basis or formula, if any, for such resetting specified on the face hereof. The Company may exercise such option by notifying the Paying Agent of such exercise at least 45 but not more than 60 days prior to an Optional Reset Date for this Note. Not later than 40 days prior to such Optional Reset Date, the Paying Agent will send to the Holder hereof a Notice (the "Reset Notice"), by facsimile transmission, hand delivery or letter (first class, postage prepaid), setting forth (i) the election of the Company to reset the interest rate, in the case of a Fixed Rate Note, or the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, (ii) such new interest rate or such new Spread and/or Spread Multiplier, as the case may be, and (iii) the provisions, if any, for redemption during the period from such Optional Reset Date to the next Optional Reset Date or, if there is no such next Optional Reset Date, to the Stated Maturity of the principal amount of this Note (each period a "Subsequent Interest Period"), including the date or dates on which or the period or periods during which and the price or prices at which such redemption may occur during such Subsequent Interest Period. Notwithstanding the foregoing, not later than 20 days prior to an Optional Reset Date for a Note, the Company may, at its option, revoke the interest rate, in the case of a Fixed Rate Note, or the Spread and/or Spread Multiplier, in the case of a Floating Rate Note, in either case provided for in the Reset Notice and establish a higher interest rate, in the case of a Fixed Rate Note, or a new Spread and/or Spread Multiplier which results in a higher interest rate, in the case of a Floating Rate Note, for the Subsequent Interest Period commencing on such Optional Reset Date by causing the Paying Agent to send by facsimile transmission, hand delivery or letter (first class, postage prepaid) notice of such higher interest rate or new Spread and/or Spread Multiplier, as the case may be, to the Holder. Such notice shall be irrevocable. All Notes with respect to which the interest rate or Spread and/or Spread Multiplier is reset on an Optional Reset Date will bear such higher interest rate...

Interest Rate Reset. The interest rate on this Security will be ------------------- reset from time to time, as provided in this Section 3, and each date upon which such rate is reset as so provided is hereinafter called an "Interest Reset -------------- Date". Unless otherwise specified on the face hereof, the Interest Reset Dates ---- with respect to this Security will be as follows: (i) if the Interest Reset Period is daily, each Business Day; (ii) if the Interest Reset Period is weekly and the Base Rate is not the Treasury Rate, the Wednesday of each week; (Reverse of Security continued on next page) (iii) if the Interest Reset Period is weekly and the Base Rate is the Treasury Rate, except as otherwise provided in the definition of "Treasury Interest Determination Date" in Section 3(n) below, the Tuesday of each week; (iv) if the Interest Reset Period is monthly, the third Wednesday of each month; (v) if the Interest Reset Period is quarterly, the third Wednesday of each March, June, September and December of each year; (vi) if the Interest Reset Period is semi-annual, the third Wednesday of each of two months in each year specified under "Interest Reset Period" on the face hereof; and (vii) if the Interest Reset Period is annual, the third Wednesday of the month in each year specified under "Interest Reset Period" on the face hereof; provided, however, that (x) the interest rate on this Security in effect from -------- ------- the Original Issue Date to but excluding the first Interest Reset Date will be the Initial Base Rate and (y) if the Interest Reset Period is daily or weekly, the Base Rate in effect for each day following the second Business Day immediately prior to an Interest Payment Date to, but excluding, such Interest Payment Date, and for each day following the second Business Day immediately prior to the day of Maturity of the principal hereof to, but excluding, such day of Maturity, will be the Base Rate in effect on such applicable second Business Day; and provided, further, that, if any Interest Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date shall be the next succeeding day that is a Business Day, except that, unless otherwise specified on the face hereof, if the Base Rate is LIBOR and such next succeeding Business Day falls in the next succeeding calendar month, such Interest Reset Date shall be the immediately preceding Business Day. Subject to applicable provisions of law and except as otherwise specified herei...

Interest Rate Reset. The interest rate payable on this Surplus Note as described above shall be reset at the first anniversary of the Purchase Date, and at each subsequent anniversary thereafter for as long as this Surplus Note is outstanding to a rate equal to the then one-year LIBOR plus 350 basis points.

Interest Rate Reset. During the Withdrawal Phase, an increase in the current XXX if the calculation described in Section 5.06 results in a greater XXX than the current XXX on the Ratchet Date.