Direct Purchase Period definition

Direct Purchase Period means any Rate Period, other than a Weekly Rate Period or Flexible Term Rate Period, during which the Bonds have been purchased pursuant to a direct purchase of the Bonds pursuant to a Continuing Covenant Agreement by the Purchaser.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Direct Purchase Period means each period during which the applicable Series of the Notes is purchased and held pursuant to a Direct Purchase Agreement, including any Term-Out Period or other period during which Unremarketed Notes continue to be outstanding while a Direct Purchase Agreement is in effect.

Direct Purchase Period means the period during which 2025 Bonds constitute Direct Purchase Bonds, which Direct Purchase Period shall generally be comprised of (i) multiple Direct Purchase Interest Rate Periods, during which Direct Purchase Rates are in effect, or (ii) a single Direct Purchase Interest Rate Period, during which a fixed Direct Purchase Rate is in effect. A Direct Purchase Period shall also include any period during which any Unremarketed Bonds remain Outstanding.

Examples of Direct Purchase Period in a sentence

Nothing in this Section 22 shall amend, modify or alter any of CTI's obligations under this Agreement, which shall continue unaffected by the commencement of the PETNET Direct Purchase Period and PETNET's obligations during such period.
In the event that the Bonds are converted to any other Direct Purchase Period, the new interest rate shall be, in the judgment of the Market Agent, having due regard for prevailing market conditions for bonds or other securities similar to the Bonds, the interest rate necessary, but not to exceed the interest rate necessary to enable the Bonds to be placed at a price of par on the Conversion Date.
Exhibit H (Form of Direct Purchase Period Conversion Notice) of the Current Indenture is hereby amended and restated in its entirety and replaced with the form attached hereto as Exhibit B.
If a proposed conversion of the Interest Rate Determination Method is cancelled pursuant to the provisions of the two preceding paragraphs, all Bonds, other than Bonds subject to a Direct Purchase Period, shall nevertheless be tendered for purchase on the proposed Conversion Date and shall be purchased by the Board on the proposed Conversion Date.
Notwithstanding the foregoing provisions of this Section 2.14, during any Direct Purchase Period, in the event any of the Series 2014_ Bonds are called for redemption, in whole or in part, pursuant to the provisions of Section 2.13, the Board shall give notice thereof to the Bank at least 30 days prior to the date fixed for redemption, which notice shall specify the anticipated redemption date and the principal amount of the Series 2014_ Bonds to be redeemed.
If the Fixed Rate Period is a Direct Purchase Period, the Market Agent shall determine the Fixed Rate and if the Fixed Rate Period is not a Direct Purchase Period, the Remarketing Agent shall determine the Fixed Rate.
During any Direct Purchase Period where the Bonds bear the Medium-Term Rate the Market Agent shall determine the Medium-Term Rate and during any other Medium-Term Rate Period the Remarketing Agent shall determine the Medium-Term Rate.
During a period other than a Direct Purchase Period, the Conversion Notice must be received by the Remarketing Agent or the Calculation Agent, as applicable, and the Bond Registrar at least 25 days prior to the proposed Conversion Date, and during a Direct Purchase Period, the Conversion Notice must be received by the Remarketing Agent, if any, the Market Agent, if any, the Calculation Agent, the Bond Registrar and the Bank at least 60 days prior to the proposed Conversion Date.
Notwithstanding the foregoing, if a proposed conversion of the Interest Rate Determination Method is cancelled pursuant to the provisions of the two preceding paragraphs, any Bonds then subject to a Direct Purchase Period shall not be subject to tender for purchase and shall continue to bear interest at the Interest Rate Determination Method in effect prior to the failed proposed conversion.
Subject to any limitations set forth in a Continuing Covenant Agreement, during any Direct Purchase Period, the Series 2014_ Bonds are subject to redemption on any Business Day at the direction of the Board, in whole or in part, at a redemption price equal to the principal amount of the Series 2014_ Bonds to be redeemed plus accrued interest thereon to, but not including, the redemption date.

More Definitions of Direct Purchase Period

Direct Purchase Period has the meaning assigned to such term in the Bond Indenture. “Direct Purchase Period Purchase Date” means June 30, 2021.

Direct Purchase Period means any Rate Period, other than a Weekly Rate Period or Flexible Term Rate Period, during which the Series 2023 Bonds, the Series 2024 Bonds, or any Series of Additional Bonds have been purchased pursuant to a direct purchase of such Bonds pursuant to the Indenture and the Purchase Contract by the Purchaser or another bond purchase agreement with the purchaser thereof with respect to a Series of Additional Bonds.

Direct Purchase Period means any period during which the Bond has been purchased pursuant to a direct purchase of the Bond by the Owner.