Coupon Period definition
Examples of Coupon Period in a sentence
The Company undertakes and covenants that the Company shall pay on each of the Debentures, Coupon calculated at the Coupon Rate for each Coupon Period on the relevant Coupon Payment Date.
The Stepped Coupon Rate for each Stepped Coupon Period shall be the lowest rate which, in the aggregate for all Stepped Coupon Periods, such Remarketing Agent determines would result in a sale of the Bonds of such subseries at a price equal to the Purchase Price at the lowest net interest cost from the Mode Change Date to the final Maturity Date of such Bonds.
Bonds in the Stepped Coupon Mode are subject to redemption prior to their respective stated Maturity Dates, at the option of the Borrower, in whole or in part on the Interest Payment Date immediately following the last day of a Stepped Coupon Period, at a Redemption Price equal to 100% of the principal amount thereof, without premium.
Not later than 4:00 p.m. New York City time, the Remarketing Agent for such Bonds shall divide the period remaining to the final Maturity Date into such number of periods as it shall determine (each a “Stepped Coupon Period”) and shall determine an interest rate for each Stepped Coupon Period.
Such Remarketing Agent shall also determine the Interest Payment Dates applicable during the Stepped Coupon Mode, provided, however, that the day following each Stepped Coupon Period (or the next Business Day if such day is not a Business Day) shall be an Interest Payment Date.