Common use of Weekly Rate Clause in Contracts

Weekly Rate. When interest on the Bonds is payable at a Weekly Rate, the Remarketing Agent will set a Weekly Rate on or before 5:00 p.m., New York City time, on the last Business Day before the commencement of a period during which the Bonds bear interest at a Weekly Rate and on each Wednesday thereafter so long as interest on the Bonds is to be payable at a Weekly Rate or, if any Wednesday is not a Business Day, on the next preceding Business Day. Each Weekly Rate will be the minimum rate necessary (as determined by the Remarketing Agent based on the examination of tax-exempt obligations comparable to the Bonds known by the Remarketing Agent to have been priced or traded under then prevailing market conditions) for the Remarketing Agent to sell the Bonds on the date the rate is set at their principal amount (without regard to accrued interest). Thereafter, each Weekly Rate shall apply to (i) the period beginning on the Thursday after the Weekly Rate is set and ending on the following Wednesday or, if earlier, ending on the day before the effective date of a new method of determining the interest rate on the Bonds or (ii) the period beginning on the effective date of the change to a Weekly Rate and ending on the next Wednesday.

Weekly Rate. When interest on the Bonds is payable at a Weekly Rate, the Remarketing Agent will set a Weekly Rate on or before 5:00 p.m., New York City time, on the last Business Day before the commencement of a period during which the Bonds bear interest at a Weekly Rate and on each Wednesday Tuesday thereafter so long as interest on the Bonds is to be payable at a Weekly Rate or, if any Wednesday Tuesday is not a Business Day, on the next preceding Business Day. Each Weekly Rate will be the minimum rate necessary (as determined by the Remarketing Agent based on the examination of tax-exempt obligations comparable to the Bonds known by the Remarketing Agent to have been priced or traded under then prevailing market conditions) for the Remarketing Agent to sell the Bonds on the date the rate is set at their principal amount (without regard to accrued interest). Thereafter, each Weekly Rate shall apply to (i) the period beginning on the Thursday Wednesday after the Weekly Rate is set and ending on the following Wednesday Tuesday or, if earlier, ending on the day before the effective date of a new method of determining the interest rate on the Bonds or (ii) the period beginning on the effective date of the change to a Weekly Rate and ending on the next WednesdayTuesday.

Weekly Rate. When interest on the a series of Bonds is payable at a Weekly Rate, the Remarketing Agent will set a Weekly Rate on or before 5:00 p.m., New York City time, on the last Business Day before the commencement of a period during which the Bonds bear interest at a Weekly Rate and on each Wednesday thereafter so long as interest on the Bonds is to be payable at a Weekly Rate or, if any Wednesday is not a Business Day, on the next preceding Business Day. Each Weekly Rate will be the minimum rate necessary (as determined by the Remarketing Agent based on the examination of tax-exempt obligations comparable to the Bonds known by the Remarketing Agent to have been priced or traded under then prevailing market conditions) for the Remarketing Agent to sell the Bonds on the date the rate is set at their principal amount (without regard to accrued interest). Thereafter, each Weekly Rate shall apply to (i) the period beginning on the Thursday after the Weekly Rate is set and ending on the following Wednesday or, if earlier, ending on the day before the effective date of a new method of determining the interest rate on the such series of Bonds or (ii) the period beginning on the effective date of the change to a Weekly Rate and ending on the next Wednesday.

Weekly Rate. When interest on the Bonds is payable at a Weekly Rate, the The Remarketing Agent will shall set a Weekly Rate on or before 5:00 p.m., New York City time, on the last Business Day before the commencement of a period during which the Bonds will bear interest at a Weekly Rate and on each Wednesday Tuesday thereafter so long as interest on the Bonds is to be payable at a Weekly Rate or, if (unless any Wednesday Tuesday is not a Business Day, then on the preceding Monday, unless Monday and Tuesday are not a Business Day, then on the next preceding succeeding Wednesday, whether or not a Business Day). Each Weekly Rate will shall be the minimum rate necessary (as determined by the Remarketing Agent based on the examination of taxunder then-exempt obligations comparable to the Bonds known by the Remarketing Agent to have been priced or traded under then prevailing market conditions) conditions for the Remarketing Agent to sell the Bonds on the effective date the rate is set of such Weekly Rate at their principal amount (without regard to accrued interest). The first Weekly Rate shall apply to the period beginning on the date of original issuance and delivery of the Bonds and ending on the next Tuesday. Thereafter, each Weekly Rate shall apply to (i) the period beginning on the Thursday after Wednesday of the week in which such Weekly Rate is set and ending on the following Wednesday Tuesday or, if earlier, ending on the day before the effective date of a new method of determining the interest rate on the Bonds or (ii) the period beginning on the effective date of the a change to a Weekly Rate and ending on the next WednesdayTuesday.