REPS Mode Sample Clauses

REPS Mode. So long as any Note is in a REPS Mode during the period up to, but excluding, the applicable REPS Remarketing Date, the provisions set forth in this Article Two are applicable to the remarketing of Notes generally, but only to the extent expressly provided in Article Three. The Interest Rate Period for any Note in the REPS Mode shall be established by the Company (as described in Section 207 hereof) as a period of more than 364 days and not exceeding the remaining term to the Stated Maturity of such Note (a "REPS Rate Period"). A REPS Rate Period shall consist of the period to and excluding the REPS Remarketing Date and the period from and including the REPS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, as described in Article Three and subject to the conditions therein and otherwise herein described. The interest rate and, in the case of a floating interest rate, the Spread (if any), and the Spread Multiplier (if any) to the REPS Remarketing Date for any Note in the REPS Mode shall be determined not later than 11:50 a.m., New York City time, on the Interest Rate Adjustment Date for such Note, which for the REPS Mode is the first day of each Interest Rate Period for such Note. Section 205.
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