Reset Period. The Borrower acknowledges and agrees that the FRR/ PLR/ I –Base is subject to a reset at the end of every [calendar] month.
Reset Period. Monthly As per the guidelines issued by RBI on Base Rate, in order to stabilize the system of Base rate calculations, banks are permitted to change the methodology for computation of Base Rate any time till June 30, 2011. In case there is change in Base Rate due to change in the methodology for computation of Base Rate, the "spread/margin" would appropriately be reset and the effective interest rate (for Adjustable Interest Rate and/or OD Facilities) shall remain the same. For c. fixed for Years and then Adjustable Interest Rate: For the fixed period of two years interest shall be computed as under a. /d. above; once it becomes Adjustable Interest Rate, interest shall be computed as under b above.
Reset Period. The Borrower may, upon compliance with certain conditions of the Indenture, cause the interest rate on the Bonds to be adjusted to a Reset Rate, which shall be determined by the Remarketing Agent as provided in the Indenture. During the Reset Period, the Bonds shall bear interest at the Reset Rate, payable on each Interest Payment Date (commencing on the first Interest Payment Date next following after the Reset Adjustment Date) to and including the next succeeding Reset Adjustment Date. Such interest shall be computed on the basis of a three hundred sixty (360) day year composed of twelve (12) thirty (30) day months. At the conclusion of a Reset Period, the Borrower may, upon compliance with certain conditions of the Indenture, cause the interest rate on the Bonds to be adjusted to a Variable Rate, a new Reset Date or a Fixed Rate, which shall be determined and redetermined by the Remarketing Agent as provided in the Indenture.
