Examples of Auction Rate Period in a sentence
The Convertible Auction Rate Securities of each Series are subject to optional redemption on the Initial Auction Date for such Series and thereafter on any Business Day immediately following the end of an Auction Rate Period for such Series, from any available moneys, at the option of the District, in whole, or in part, on a pro rata basis among the Beneficial Owners, at a redemption price equal to the sum of the Accreted Value thereof plus accrued interest thereon to the redemption date, without premium.
Section 2.03(b) is hereby amended and restated in its entirety as follows: The provisions set forth in APPENDIX G apply to determining the rate of interest on all Bonds in a Daily Rate Period or Weekly Rate Period, a Term Rate Period, and Index Rate Period, or a Fixed Rate Period; provided that the rate of interest on a Fixed Rate Bond converted from an Auction Rate Period shall be governed by Section 2.12 of Appendix B hereto.
During any Auction Rate Period of 180 days or less, interest on the Bonds shall be computed upon the basis of a 360-day year for the number of days actually elapsed.
During any Auction Rate Period, the Auction Rate Bonds shall bear interest at the Auction Rate determined as set forth in this Section 3.03 and Sections 3.04 through 3.10.
Whenever the Interest Rate Mode for the Bonds is the Auction Rate, the Bonds will be subject to redemption at the option of the Issuer, upon the written direction of the Company, in whole or in part, on the Business Day immediately succeeding any Auction Rate Period at a redemption price of 100% of the principal amount thereof, together with accrued interest to the redemption date.