Direct Purchase Rate Period definition

Direct Purchase Rate Period means a period during which a Bond bears interest at the Direct Purchase Rate and the Purchasers agree to hold the Bonds as set forth in a closing or purchase certificate of such Purchaser, which period shall commence on the date of the purchase of the Bonds and conclude on a day immediately preceding an Interest Rate Adjustment Date. The first Direct Purchase Rate Period shall be the Initial Direct Purchase Rate Period.

Direct Purchase Rate Period means a period during which the Bonds bear interest at the Direct Purchase Rate and the purchasers of the Bonds agree to hold the Bonds for a set period of time pursuant to a purchase agreement or certificate, which period shall commence on the date of the purchase of the Bonds and conclude on a day immediately preceding an Interest Rate Adjustment Date. The first Direct Purchase Rate Period shall be the Initial Direct Purchase Rate Period. “Dollar, Dollars, U.S. Dollars” and the symbol “$” shall mean lawful money of the United States of America.

Direct Purchase Rate Period means the period from the Effective Date to November 15, 2019, as such period may be extended in accordance with the provisions of this Agreement.

Examples of Direct Purchase Rate Period in a sentence

• The County shall not convert or permit the conversion of the interest rate on less than all the Bonds to any other interest rate mode other than the Direct Purchase Rate applicable during the Direct Purchase Rate Period under the Ordinance without the prior written consent of the Purchaser.

• The Purchaser hereby acknowledges and accepts its appointment as Calculation Agent during the Direct Purchase Rate Period pursuant to the Ordinance and acknowledges, accepts and agrees to all the duties and obligations of the Calculation Agent set forth in the Ordinance.

• So long as the Purchaser is the Bondholder, on or before the date two hundred ten (210) days prior to the end of the Direct Purchase Rate Period, the County may provide written notice to the Purchaser of its desire to convert the Bonds to a new Direct Purchase Rate Period and requesting the Purchaser to purchase such Bonds in such new Direct Purchase Rate Period.

• Interest at the Direct Purchase Rate shall accrue each day during each Direct Purchase Rate Period, commencing on and including the first day of the Direct Purchase Rate Period to but excluding the last day of the Direct Purchase Rate Period.

More Definitions of Direct Purchase Rate Period

Direct Purchase Rate Period means the period during which a Series 2020 D Bond in the Direct Purchase Rate Mode shall bear the Direct Purchase Rate, which shall be the period commencing on Thursday of each week to and including Wednesday of the following week, except the final Direct Purchase Rate Period which shall be from and including the Thursday of the week

Direct Purchase Rate Period means the period during which a Series 2020 D Bond in the Direct Purchase Rate Mode shall bear the Direct Purchase Rate, which shall be the period commencing on Thursday of each week to and including Wednesday of the following week, except the final Direct Purchase Rate Period which shall be from and including the Thursday of the week prior to the Mode Change Date or the Maturity Date to and including the day next preceding the Mode Change Date or the Maturity Date.