Auction Rate Security definition

Auction Rate Security means any type of debt instrument, including, without limitation, any corporate or municipal bond, which has a long-term nominal maturity for which the interest rate is reset through a dutch auction and more commonly referred to as an auction rate security.
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Auction Rate Security means long-term municipal bonds, corporate bonds or preferred stocks that are traded at auctions that set the instruments’ interest rate and ultimately the price of the security.
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Examples of Auction Rate Security in a sentence

  • In September 2009, the company recognized an income of $18.5 million due to the settlement of a claim the company filed in an arbitration proceeding against an investment firm that purchased Auction Rate Security (“the Security”) for the company’s account.

  • At March 31, 2008, the Company held $7.0 million of a triple A rated taxable Student Auction Rate Security (“ARS”), at par value, issued by the Panhandle-Plains Higher Education Authority.

  • Rate shown is the 7-day yield.KEY TO ABBREVIATIONS ARS - Auction Rate Security.

  • Xxxxxxx Xx 0xx Xxxxx XX0-000-00-00 Xxxxxxxxx XX 00000 xxxxxx Short-term money market fund Tax-exempt money market 33,696,099.10 UBS 0000 Xxxxxx Xxxx 0xx Xxxxx Xxxxxxxxx XX 00000 xxxxxx Long-term investments Auction Rate Security portfolio 13,500,000 RBC 000 X.

  • B ARS Notes 78442GGX8 ARS 1.0000$68,250,000.00$68,250,000.00 Auction Rate Security Principal Allocated But Not Distributed 06/15/2005 09/15/2005 Reserve Account 06/15/2005 09/15/2005 Capitalized Interest Account 06/15/2005 09/15/2005 General Trust Information * A-5 is denominated in Euros II.

  • Upon surrender of any Auction Rate Security for redemption in part only, the Issuer shall execute and the Indenture Trustee shall authenticate and deliver to the Noteholder thereof, the cost of which shall be paid by the Issuer, a new Auction Rate Security or Auction Rate Securities of the same series, maturity and of authorized denominations, in an aggregate principal amount equal to the unredeemed portion of the Auction Rate Security surrendered.

  • B ARS Notes78442GGX8ARS1.0000$68,250,000.00$68,250,000.00 Auction Rate Security Principal Allocated But Not Distributed 3/15/2005 6/15/2005 Reserve Accoun 3/15/2005 6/15/2005 Capitalized Interest Account 3/15/2005 6/15/2005 *A-5 is denominated in Euros II.

  • Xxxxxxx Ste 2500 Chicago IL 60661 xxxxxxx Long-term investments Auction Rate Security portfolio 20,200,000 Schedules to Loan and Security Agreement [Winnebago] Schedule 7.1 (b) - Designated Assets Permitted to be Sold Winnebago Corporate Jet: Astra SP Xxxxxxxxxxxx # X000XX Xxxxxx # 0000-000 Serial # 96213 (left engine) Serial # 96214 (right engine).

  • To provide for diversification, Auction Rate Security Investments are limited to $5 million per issuing entity.

  • In case an Auction Rate Security is of a denomination larger than an Authorized Denomination, a portion of such Auction Rate Security (in an Authorized Denomination) may be redeemed.

Related to Auction Rate Security

  • Fixed Rate Security means a Security which provides for the payment of interest at a fixed rate.

  • Floating Rate Security means a Debt Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 2.03.

  • Fixed Rate Note means any Class A-1 Note, Class A-2a Note, Class A-3 Note or Class A-4 Note.

  • Auction Rate means the rate of interest per annum that results from implementation of the Auction Procedures and is determined as described in Section 2.02(a)(iii)(B) of this Appendix A.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Fixed Rate Notes Together, the Class A-1a Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

  • Bid Rate Note means a promissory note of the Borrower substantially in the form of Exhibit B-2 (or such other form approved by the Administrative Agent), payable to the order of a Lender as originally in effect and otherwise duly completed.

  • Floating Rate Notes means the Class A-2b Notes.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Floating Rate Note means any Class A-2b Note.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Interest Rate Cap Provider if any, shall mean the entity listed as the Interest Rate Cap Provider in the Series Term Sheet, in its capacity as obligor under the Class Interest Rate Caps, or if any Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements are obtained pursuant to Section 15, the obligor with respect to such Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements.

  • Additional Interest Rate With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Tier 1 BCN or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Tier 1 BCN and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Selected Interest Rates as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

  • Interest Rate Change Date The date on which the Mortgage Interest Rate is subject to change as provided in the related Mortgage Note.

  • Post-ARD Additional Interest Rate With respect to any ARD Mortgage Loan after its Anticipated Repayment Date, the incremental increase in the Mortgage Rate for such ARD Mortgage Loan resulting from the passage of such Anticipated Repayment Date.

  • Floating Rate Convention means that each relevant date shall be the date which numerically corresponds to the preceding such date in the calendar month which is the number of months specified in the applicable Final Terms as the Specified Period after the calendar month in which the preceding such date occurred; provided, however, that:

  • Pricing Rate Period means, with respect to any Transaction and any Remittance Date (a) in the case of the first Pricing Rate Period, the period commencing on and including the Purchase Date for such Transaction and ending on and excluding the following Remittance Date, and (b) in the case of any subsequent Pricing Rate Period, the period commencing on and including the immediately preceding Remittance Date and ending on and excluding such Remittance Date; provided, however, that in no event shall any Pricing Rate Period for a Purchased Asset end subsequent to the Repurchase Date for such Purchased Asset.

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.