Commercial Paper Rate Period definition

Commercial Paper Rate Period means, with respect to a particular Multi-Modal Bond, a period of one to 365 days during which such Bond bears interest at a Commercial Paper Rate; and the first day immediately following the last day of each Commercial Paper Rate Period shall be a Business Day and, with respect to at least the amount of such Bonds to be redeemed by mandatory redemption, shall be not later than the redemption date.

Commercial Paper Rate Period means any period during which the Bonds bear interest at a Commercial Paper Rate or Rates, which period shall commence on the effective date of a Change in the Interest Rate Mode to a Commercial Paper Rate or Rates, as the case may be, and extend through the day immediately preceding the earlier of (a) the effective date of another Change in the Interest Rate Mode or (b) the Stated Maturity.

Commercial Paper Rate Period means with respect to any Bond, each period determined for such Bond as provided in Section 3.2 hereof.

Examples of Commercial Paper Rate Period in a sentence

• Interest accrued during any Commercial Paper Rate Period shall be paid only upon presentation and surrender of Bonds.

• If the Remarketing Agent fails to specify the next succeeding Commercial Paper Rate Period, such Commercial Paper Rate Period will be the shorter of (i) seven days or (ii) the period remaining to but not including the maturity or redemption date of such Bond.

• Each Note from a Series of the Notes for which a Commercial Paper Rate Period has been selected shall bear interest at the Commercial Paper Rate, which shall be determined by the Remarketing Agent on a Business Day no later than the first day of such Commercial Paper Rate Period.

• The Commercial Paper Rate for each Note in a Commercial Paper Rate Period shall be the rate of interest per annum determined by the Remarketing Agent to be the minimum interest rate which, if borne by such Note, would enable the Remarketing Agent to sell such Note on the effective date of such rate at a price (without regarding accrued interest) equal to the principal amount thereof.

• Interest on any Tax-Exempt Note during any Commercial Paper Rate Period shall accrue on the basis of the actual number of days elapsed in a 365-day year (or a 366-day year in a leap year) and interest on any Taxable Note during any Commercial Paper Rate Period shall accrue on the basis of the actual number of days in a 360-day year (comprised of 12 30-day months).

More Definitions of Commercial Paper Rate Period

Commercial Paper Rate Period. ’ means, with respect to a particular Multi-Modal Bond, a period of one to 365 days during which such Multi-Modal Bond bears interest at a Commercial Paper Rate; and the first day immediately following the last day of each Commercial Paper Rate Period shall in all events be a Business Day.

Commercial Paper Rate Period means with respect to any Bond each period determined as provided in Section 202 hereof during which such Bond accrues interest at a Commercial Paper Rate.

Commercial Paper Rate Period means, with respect to any Bond bearing interest at a Commercial Paper Rate, each period, which may be from one (1) day to two hundred seventy (270) days (or such lower maximum number as is then permitted hereunder) determined for such Bond as provided in Section 2.02(c)(i)(B).

Commercial Paper Rate Period means with respect to any Bond bearing interest at a Commercial Paper Rate, each period determined for such Bond in accordance with Section 2.02(c)(i).

Commercial Paper Rate Period means, with respect to any Bond, any period during which it bears interest at the Commercial Paper Rate.

Commercial Paper Rate Period means each period during which Certificates bear interest at a Commercial Paper Rate determined pursuant to Section 3.01(a)(iii).

Commercial Paper Rate Period means the period of from one to 270 calendar days (which period must end on a day preceding a Business Day) during which a Series 2020 D Bond in the CP Mode shall bear interest at a Commercial Paper Rate, as established by the Remarketing Agent pursuant to Section 205 hereof. The Series 2020 D Bonds in the CP Mode may be in different Commercial Paper Rate Periods.