Adjustable Rate Period definition
Examples of Adjustable Rate Period in a sentence
Thereafter, during the Adjustable Rate Period, consecutive monthly installments of principal and interest, each in the amount of the Required Monthly Payment (defined below), shall be payable on the first day of each month beginning on the first Payment Change Date until the entire unpaid principal balance evidenced by this Note is fully paid.
During the Adjustable Rate Period, the Adjustable Rate shall change on each Rate Change Date until the loan is repaid in full.
When the Bonds are in the Adjustable Rate Mode, the Bonds will remain in such Mode for as long as the Company continues to deliver timely conversion notices specifying the duration of the next Adjustable Rate Period.
In addition to defined terms found elsewhere in this Note, as used in this Note, the following definitions shall apply: Adjustable Rate Period: December 1, 2016 to and including November 30, 2021.
During the Adjustable Rate Period, the Adjustable Rate shall change on each Rate Change Date until the Advance is repaid in full.
The Company has the option to cause the interest rate on the Bonds to be converted from one Mode to another or from an Adjustable Rate Period of one duration to an Adjustable Rate Period of the same or a different duration.
During an Adjustable Rate Period with respect to the Series [Series Designation] Bonds, no Series [Series Designation] Bondholders shall have the right to tender Series [Series Designation] Bonds for optional purchase pursuant to Article III of the Indenture.
The Series [Series Designation] Bonds shall not be converted from one Mode to another Mode, or from an Adjustable Rate Period of one duration to an Adjustable Rate Period of another duration, if an Event of Default with respect to the Series [Series Designation] Bonds shall have occurred and be continuing under the Indenture.
The provisions of this Part III shall apply during each Adjustable Rate Period with respect to the Series [Series Designation] Bonds.
Each payment of interest on this Series [Series Designation] Bond shall be payable to the Registered Owner hereof as shown on the registration books kept by the Trustee as bond registrar (the “Bond Registrar”), at the close of business on the Business Day (but, during an Adjustable Rate Period or the Fixed Rate Period, the fifteenth day of the calendar month) next preceding the date on which such interest becomes due and payable (herein, a “Record Date”).