Daily Rate Conversion Date definition

Daily Rate Conversion Date means the day on which the Bonds accrue interest at a Daily Rate pursuant to Section 3.3 which is immediately preceded by a day on which the Bonds did not accrue interest at a Daily Rate.

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Daily Rate Conversion Date means the Weekly Rate Interest Payment Date on which the Bonds begin to bear interest at a Daily Rate in accordance with the terms hereof.

Daily Rate Conversion Date means a day on which interest on a Series of Bonds begins to accrue at a Daily Rate following conversion pursuant to Section 2.03(i).

Examples of Daily Rate Conversion Date in a sentence

Such Bonds shall be subject to mandatory tender for purchase on the Daily Rate Conversion Date.
Bonds of a Series shall bear interest at a Daily Rate from the Accrual Date (if the Bonds of such Series are issued in the Daily Rate Mode) or a subsequent Daily Rate Conversion Date relating to such Series of Bonds to the earlier of their redemption, the following Conversion Date relating to such Series of Bonds or their maturity date.
The Bonds shall bear interest at the Daily Rate from a Daily Rate Conversion Date to and including the earlier of the day preceding its redemption, the succeeding Conversion Date or the Maturity Date.
The Bonds shall initially bear interest at the Weekly Rate, as provided in Section 110A, unless and until converted to the Daily Rate on a Daily Rate Conversion Date in accordance with Section 111, or to the Fixed Rate on the Fixed Rate Conversion Date in accordance with Section 113.
The initial Daily Rate for the Bonds effective on any Daily Rate Conversion Date shall be established by the Remarketing Agent prior to the Daily Rate Conversion Date in the same manner as the Remarketing Agent is required to establish the Daily Rate for each subsequent Interest Period in accordance with Section 110B(b).

More Definitions of Daily Rate Conversion Date

Daily Rate Conversion Date means, with respect to each Series of Bonds, the Adjustable Rate Interest Payment Date or the Floating Rate Interest Payment Date on which the Bonds of such Series begin to bear interest at a Daily Rate in accordance with the terms hereof.

Daily Rate Conversion Date means the effective date of a change in the interest rate borne by the Bonds from a Weekly Rate to a Daily Rate.

Daily Rate Conversion Date means any date on which the Notes are converted to Notes bearing interest at the Daily Rate, which may be any calendar day.

Daily Rate Conversion Date means each Interest Payment Date on which the Bonds first begin to bear interest at a Daily Rate pursuant to the provisions of this Indenture. "Daily Rate Period" means each period established pursuant to Section 2.02(a)(1) hereof. "Daily Rate Mode" means each period of time, comprised of a Daily Rate Interest Period, during which a Daily Rate is in effect. "Deed of Trust" shall mean any deed of trust securing the obligations of the Company under the Reimbursement Agreement, as such deed of trust may be originally executed or as from time to time supplemented and amended. "Event of Default" is defined in Section 8.01. "Government Obligations" means direct obligations of, or obligations the timely payment of the principal of, and interest on, which are not subject to prepayment or call for redemption and are fully and unconditionally guaranteed by the United States of America, which, at the time of investment, are legal investments under the law of the State for the moneys proposed to be invested therein. "Indenture" means this Indenture of Trust, as amended or supplemented from time to time in accordance with its terms. "Interest Mode" means the Daily Rate Mode, the Weekly Rate Mode, the Commercial Paper Mode or the Long-Term Interest Rate Mode, as appropriate. "Interest Payment Date" means (a) for interest accrued during any Daily Rate Period, the first Business Day of each month, commencing with the first Business Day of the month next succeeding each Daily Rate Conversion Date, or, if applicable, the Closing Date, any Purchase Date established pursuant to Section 2.03(b) or any date upon which the outstanding principal amount of Bonds becomes due, (b) for interest accrued during any Weekly Rate Period, the first Business Day of each month, commencing with the first Business Day of the month next succeeding each Weekly Rate Conversion Date, or, if applicable, the Closing Date, any Purchase Date established pursuant to Section 2.03(b) or any date upon which the outstanding principal amount of Bonds becomes due, (c) for interest accrued during any Long-Term Interest Rate Period, the first date of the sixth calendar month following the Long-Term Interest Rate Conversion Date and the first day of each successive sixth calendar month, if any, of such Long-Term Interest Rate Period; provided, however, the final Interest Payment Date with respect to any such Long-Term Interest Rate Period shall be the first Business Day of the calendar month immediately followi...

Daily Rate Conversion Date means, with respect to any Subseries, each day on which such Subseries accrues interest at a Daily Rate which is immediately preceded by a day on which such Subseries did not accrue interest at a Daily Rate.

Daily Rate Conversion Date means the date (other than the Closing Date) on which interest on the Bonds begins to accrue at a Daily Rate.

Daily Rate Conversion Date means a day on which interest on the 2015 Variable Rate