Applicable Benchmark Treasury definition

Applicable Benchmark Treasury on a particular determination date shall mean direct obligations of the United States (which may be obligations traded on a when-issued basis only) having a maturity comparable to the remaining term to maturity of the Debentures, which may be two years or between two and one-half and two and one-quarter years, as applicable, as agreed upon by FPL Group Capital and the Reset Agent. The yield for the Applicable Benchmark Treasury will be the bid side yield displayed at 10:00 a.m., New York City time, on the third Business Day immediately preceding the applicable Reset Date in the Telerate system (or if the Telerate system is (a) no longer available on the third Business Day immediately preceding such Reset Date or (b) in the opinion of the Reset Agent (after consultation with FPL Group Capital) no longer an appropriate system from which to obtain such yield, such other nationally recognized quotation system as, in the opinion of the Reset Agent (after consultation with FPL Group Capital), is appropriate). If such yield is not so displayed, the yield for the Applicable Benchmark Treasury shall be, as calculated by the Reset Agent, the yield to maturity for the Applicable Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid yields, as of 10:30 a.m., New York City time, on the third Business Day immediately preceding the applicable Reset Date of three leading United States government securities dealers selected by the Reset Agent (after consultation with FPL Group Capital) (which may include the Reset Agent or an affiliate thereof).
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Applicable Benchmark Treasury means direct obligations of the United States, which may be obligations traded on a when-issued basis only, having a maturity comparable to the remaining term to maturity of the Notes, as agreed upon by the Company and the Reset Agent. The rate for the Applicable Benchmark Treasury will be the bid side rate displayed at 10:00 A.M., New York City time, on the applicable Reset Date in the Telerate system (or if the Telerate system is no longer available on such Reset Date or in the opinion of the Reset Agent, after consultation with the Company, no longer an appropriate system from which to obtain such rate, such other nationally recognized quotation system as, in the opinion of the Reset Agent, after consultation with the Company, is appropriate). If such rate is not so displayed, the rate for the Applicable Benchmark Treasury shall be, as calculated by the Reset Agent, the yield to maturity for the Applicable Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid rates, as of 10:30 A.M., New York City time, on such Reset Date of three leading United States government securities dealers selected by the Reset Agent after consultation with the Company (which may include the Reset Agent or an Affiliate thereof).
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Applicable Benchmark Treasury means direct obligations of the United States, as agreed upon by the Company and the Remarketing Agent (which may be obligations traded on a when-issued basis only), having a maturity of six months. The yield for the Applicable Benchmark Treasury shall be the bid side yield displayed at 10:00 a.m., New York City time, on the Remarketing Date in the Telerate system (or if the Telerate system is no longer available on that date or, in the opinion of the Remarketing Agent (after consultation with the Company), no longer an appropriate system from which to obtain the yield, such other nationally recognized quotation system as, in the opinion of the Remarketing Agent (after consultation with the Company), is appropriate). If this yield is not so displayed, the yield for the Applicable Benchmark Treasury will be, as calculated by the Remarketing Agent, the yield to maturity for the Applicable Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid yields, as of 10:30 a.m., New York City time, on the Remarketing Date of three leading United States government securities dealers selected by the Remarketing Agent (after consultation with the Company) (which may include the Remarketing Agent or an affiliate thereof).
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Examples of Applicable Benchmark Treasury in a sentence

  • On the Reset Announcement Date, the Reset Spread and the Applicable Benchmark Treasury to be used to determine the Reset Rate will be announced by the Company or FPL Group Capital.

  • On the Business Day immediately following the Reset Announcement Date, the Company will cause a notice of the Reset Spread, Applicable Benchmark Treasury and, if applicable, percentage undivided beneficial ownership interest in the to be published in an Authorized Newspaper.

  • On each Reset Announcement Date, the Reset Spread and the Applicable Benchmark Treasury to be used to determine the Reset Rate will be announced by the Company.

  • On the Business Day immediately following the Reset Announcement Date, the Company will cause a notice of the Reset Spread and Applicable Benchmark Treasury and, if applicable, the percentage undivided beneficial ownership interest determined by the Reset Agent to be published in an Authorized Newspaper.

  • On the Business Day immediately following the Reset Announcement Date, the Company will cause a notice of the Reset Spread and Applicable Benchmark Treasury to be published in an Authorized Newspaper.

  • The Reset Rate shall equal the sum of (i) the Reset Spread and (ii) the yield on the Applicable Benchmark Treasury in effect on the third Business Day immediately preceding the Reset Date and shall be determined by the Reset Agent; provided that the Reset Rate will in no event exceed the maximum rate permitted by applicable law.

  • On the Business Day immediately following the Reset Announcement Date, the Notes Holders shall be notified of such Reset Spread and Applicable Benchmark Treasury by the Company or Sprint Capital.

  • On the applicable Reset Announcement Date the Reset Spread and the Applicable Benchmark Treasury to be used to determine the Reset Rate shall be announced by the Company or Sprint Capital.

  • On each Remarketing Announcement Date, the Reset Agent will establish the Reset Spread to be added to the yield on the Applicable Benchmark Treasury expected to be in effect on the Remarketing Date.

  • The Reset Rate shall equal the sum of (i) the Reset Spread and (ii) the yield on the Applicable Benchmark Treasury in effect on the third Business Day immediately preceding the Reset Date and shall be determined by the Reset Agent provided, that in no event shall the Reset Rate exceed the maximum rate permitted by applicable law.


More Definitions of Applicable Benchmark Treasury

Applicable Benchmark Treasury on a particular determination date shall mean __________________________________.
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Applicable Benchmark Treasury means direct obligations of the United States, as agreed upon by the Company and the Remarketing Agent (which may be obligations traded on a when-issued basis only), having a maturity closest to six months.
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Related to Applicable Benchmark Treasury

  • Comparable Treasury Issue means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes.

  • U.S. Treasury Bill Rate on any date means (i) the Interest Equivalent of the rate on the actively traded Treasury Bill with a maturity most nearly comparable to the length of the related Dividend Period, as such rate is made available on a discount basis or otherwise by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Bill Rate on such date. "Alternate Treasury Bill Rate" on any date means the Interest Equivalent of the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded Treasury Bill with a maturity most nearly comparable to the length of the related Dividend Period, as determined by bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • Comparable Treasury Price means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

  • Treasury means the United States Department of the Treasury.

  • Hedge Treasury Note(s) means, with respect to any Accepted Note, the United States Treasury Note or Notes whose duration (as determined by Prudential) most closely matches the duration of such Accepted Note.

  • Reference Treasury Dealers means (1) X.X. Xxxxxx Securities LLC, Citigroup Global Markets Inc. and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer (“Primary Treasury Dealer”), the Company shall substitute another nationally recognized investment banking firm that is a Primary Treasury Dealer, and (2) at the option of the Company, additional Primary Treasury Dealers selected by the Company.

  • Applicable Treasury Rate means the weekly average for each Business Day during the most recent week that has ended at least two Business Days prior to the redemption date of the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H. 15 (or, if such statistical release is not so published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from the redemption date to May 1, 2022; provided, however, that if the period from the redemption date to May 1, 2022 is not equal to the constant maturity of a United States Treasury security for which a yield is given, the Applicable Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to such applicable date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

  • Treasury Index Rate means the average yield to maturity for actively traded marketable U.S. Treasury fixed interest rate securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15 (519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Trust by at least three recognized dealers in U.S. government securities selected by the Trust.

  • U.S. Treasury Regulations means the Treasury regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code shall include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

  • Reference Treasury Dealer means: (1) Citigroup Global Markets Inc. or X.X. Xxxxxx Securities LLC, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute for such firm another Primary Treasury Dealer; and (2) any other Primary Treasury Dealer selected by the Independent Investment Banker after consultation with the Company.

  • Treasury Capital Stock has the meaning assigned to such term in Section 6.04(a)(viii).

  • Canadian Benchmark means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof.

  • Treasury Yield means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

  • Term Benchmark when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate.

  • U.S. Treasury Note Rate on any date means (i) the yield as calculated by reference to the bid price quotation of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as such bid price quotation is published on the Business Day immediately preceding such date by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Note Rate on such date. "Alternate Treasury Note Rate" on any date means the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as determined by the bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • Applicable Base Rate means (i) with respect to a Rate Period of fewer than 49 days, the greater of (a) the SIFMA Municipal Swap Index or (b) the LIBOR Rate, and (ii) with respect to a Rate Period of 49 or more days, the LIBOR Rate.

  • Benchmark Gilt means, in respect of a Reset Period, such United Kingdom government security having a maturity date on or about the last day of such Reset Period as the Calculation Agent, with the advice of the Reference Banks, may determine to be appropriate;

  • U.S. Treasury Securities means direct obligations of the United States Treasury that are entitled to the full faith and credit of the United States.

  • Money Market Margin has the meaning set forth in Section 2.03(d)(ii)(C).

  • Benchmarked Price means the higher of:

  • Money Market Yield means a yield (expressed as a percentage) calculated in accordance with the following formula: Money Market Yield = D x 360 x 100 where “D” refers to the applicable per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal, and “M” refers to the actual number of days in the applicable Interest Reset Period.

  • National Treasury means the National Treasury established by section 5 of the Public Finance Management Act;

  • U.S. Government Securities Business Day means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

  • Primary Treasury Dealer means a primary U.S. Government securities dealer in New York City.

  • U.S. Treasury Rate means, with respect to any Remaining Distribution Amount, a rate determined one Business Day prior to the Optional Repurchase Distribution Date that is equal to the U.S. Treasury rate on such date (determined by reference to Bloomberg Financial Markets Commodities News) with a maturity equal to the period from such Optional Repurchase Distribution Date to the Applicable Distribution Date with respect to such Remaining Distribution Amount (or, if such maturity is unavailable, such rate shall be determined by linear interpolation using the U.S. Treasury rates with the two closest maturities to such period).

  • Pledged Treasury Securities has the meaning set forth in Section 2.1(c) of the Pledge Agreement.