BMA Index means, as of any date, the rate calculated according to the Bond Market Association Municipal Swap Index as of the most recent date for which such index was published or such other weekly, high-grade index composed of weekly, tax-exempt variable rate demand notes produced by Municipal Market Data, Inc. or any successor thereto, or as otherwise designated by the Bond Market Association.
BMA Index means, as of any date of determination, The Bond Market Association Municipal Swap Index that is most recently released by Municipal Market Data to its subscribers prior to such date of determination; provided, however, that if the BMA Index is unavailable for a period of over 21 days preceding such date of determination, references to the BMA Index shall be replaced by the After-Tax Equivalent Rate.
BMA Index means the BMA Municipal Swap Index disseminated by Municipal Market Data, a Thomson Financial Services Company, or its successor. However, if that index ceases to be available, “BMA Index” means an index reasonably selected by the City which is widely available to dealers in municipal securities, and which measures the interest rate of municipal securities that bear interest at short term or variable rates.
Examples of BMA Index in a sentence
If for any reason the position of Remarketing Agent is vacant or the Remarketing Agent fails to act, the Effective Rate on the Bonds shall be the interest rate as determined or caused to be determined weekly by the Trustee, at the expense of the Authority, to be the lesser of (i) the BMA Index plus .20% or (ii) the Maximum Rate.
More Definitions of BMA Index
BMA Index means, as of any date of determination, the Bond Market Association Municipal Swap Index that is most recently released by Municipal Market Data to its subscribers prior to such date of determination; provided, however, that if the BMA Index is unavailable for a period of over 21 days preceding such date of determination, references to the BMA Index shall be replaced by the After-Tax Equivalent Rate.
BMA Index means on any date, a rate determined on the basis of the seven-day high grade market index of tax-exempt variable rate demand obligations, as produced by Municipal Market Data and published or made available by the Bond Market Association (“BMA”) or any person acting in cooperation with or under the sponsorship of BMA and acceptable to the Remarketing Agent and effective from such date.
BMA Index means the “BMA Municipal Bond Index”™ published from time to time by the Bond Market Association based upon weekly yield evaluations at par of tax-exempt state and local government bonds or if such index is no longer published, a comparable index as selected by the remarketing agent with respect to the affected Variable Rates Notes subject to receipt of a Rating Confirmation.
BMA Index or “Municipal Swap Index” means the rate of interest established as the weekly high grade market index comprised of 7-day tax-exempt variable rate demand notes, published weekly and reset each Wednesday by BMA-Municipal Market Data as the BMA Municipal Swap Index, all as determined by the BMA Calculation Agent pursuant to the Swap Agreements, if any, and in the event such rate is no longer determined, any replacement thereof approved by the Administrator.
BMA Index means with respect to any 2007 Series B-2 Bond or 2007 Series B-3 Class II Bond in the Weekly Mode for which a rate is not set pursuant to the 2007 Series B Indenture, the rate per annum determined on the basis of an index based upon the weekly interest rates of tax-exempt variable rate issues included in a database maintained by the Indexing Agent which meet specific criteria established by the Securities Industry and Financial Markets Association (formerly known as The Bond Market Association and the Public Securities Association).
BMA Index means the rate determined on the basis of an index based upon the weekly interest rate resets of tax-exempt variable issues included in a database maintained by Municipal Market Data which meet specific criteria established by The Bond Market Association, formerly known as the Public Securities Association.
BMA Index means The Bond Market Association Municipal Swap Index released by Municipal Market Data to its subscribers; provided, however, that if the BMA Index is unavailable, references to the BMA Index shall be replaced by the After-Tax Equivalent Rate.