Failed Remarketing Rate definition

Failed Remarketing Rate means, for any reset period when the reset rate notes are then denominated in U.S. Dollars, three-month LIBOR plus 0.75%; and when the reset rate notes are in foreign exchange mode during a reset period, such rate as will be determined on the related Spread Determination Date pursuant to the terms of the related currency swap agreement.

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Failed Remarketing Rate means, for any Reset Period when the Reset Rate Notes are then denominated in U.S. Dollars, Three-Month LIBOR plus 0.75%; and for any Reset Period when the Reset Rate Notes are in Foreign Exchange Mode, as will be determined on the related Spread Determination Date pursuant to the terms of the related Currency Swap Agreement.

Failed Remarketing Rate means, for any reset period when a class of reset rate notes is then denominated in U.S. Dollars, three-month LIBOR plus 0.75%; and when the reset rate notes are in foreign exchange mode during a reset period, such rate as will be determined on the related Spread Determination Date pursuant to the terms of the related currency swap agreement; provided, that the Failed Remarketing Rate that will be applicable for the class A‑7A notes with respect to their initial reset period is three-month EURIBOR plus 0.55%.

Examples of Failed Remarketing Rate in a sentence

• If the holder of the Purchase Option fails to provide the required notice or purchase price, such Class of the Reset Rate Notes shall bear interest at the Failed Remarketing Rate during the following Reset Period.

• If the holder of the Purchase Option does not deliver notice of its intention to exercise the Purchase Option and deliver an amount equal to the purchase price within 25 days following a Reset Date on which a Class of the Reset Rate Notes bears interest at the Failed Remarketing Rate, the Issuer may instruct the Indenture Trustee to auction the Pro rata Portion of the Financed Eligible Loans.

• Furthermore, if the series of Series 2006-1 Reset Rate Notes is to be reset into a Foreign Exchange Mode, the currency exchange rate, the Extension Rate due to each related Currency Swap Counterparty and the Failed Remarketing Rate applicable to such Series 2006-1 Reset Rate Notes for the immediately following Reset Period will be determined pursuant to the terms of the related Currency Swap Agreement and contained in the Spread Determination Notice.

• If a Failed Remarketing occurs, the Series 2007-1 Reset Rate Notes will bear interest at the Failed Remarketing Rate, as set forth in Annex II to the Indenture.

• Furthermore, for the Reset Rate Notes to be reset in Foreign Exchange Mode, the currency exchange rate, the Extension Rate due to each related Cross-Currency Swap Counterparty and the Failed Remarketing Rate for the immediately following Reset Period will be determined pursuant to the terms of the related Cross-Currency Swap Agreement and contained in the Spread Determination Notice.

More Definitions of Failed Remarketing Rate

Failed Remarketing Rate means, for any applicable Reset Period and any Class of the Reset Rate Notes, Three-Month LIBOR plus 0.75%.

Failed Remarketing Rate means the Bank Rate.

Failed Remarketing Rate means twelve percent (12%) per annum.

Failed Remarketing Rate means, for any Reset Period and any class of Reset Rate Notes then denominated in U.S. Dollars, Three-Month LIBOR plus 0.75%; and for any Reset Period and any class of Reset Rate Notes while in Foreign Exchange Mode, as will be determined on the related Spread Determination Date pursuant to the terms of the related Currency Swap Agreement (and for the initial Reset Period, the Failed Remarketing Rate for the Class A-4 Notes will be Three-Month GBP-LIBOR plus 0.55%, and the Failed Remarketing Rate for the Class A-8 Notes will be Three-Month EURIBOR plus 0.55%).

Failed Remarketing Rate means, for any reset period when a class of reset rate notes is then denominated in U.S. Dollars, three-month LIBOR plus 0.75% (or, for any reset date commencing on or after July 25, 2023, generally not to exceed the SOFR Rate plus 0.75%); and when the reset rate notes are in foreign exchange mode during a reset period, such rate as will be determined on the related Spread Determination Date pursuant to the terms of the related currency swap agreement.

Failed Remarketing Rate means, for any applicable Reset Period and any class of Reset Rate Notes then denominated in U.S. Dollars, Three-Month LIBOR plus 0.75%; and for any class of Reset Rate Notes in Foreign Exchange Mode during a Reset Period, as will be determined on the related Spread Determination Date pursuant to the terms of the related Cross-Currency Swap Agreement (and for the initial Reset Period for the Class A-5B Notes, the Failed Remarketing Rate due to the Class A-5B Noteholders will be Three-Month EURIBOR plus 0.55%).

Failed Remarketing Rate means, for any reset period when a class of reset rate notes is then denominated in U.S. Dollars, three-month LIBOR plus 0.75%; and when a class of reset rate notes is in foreign exchange mode during a reset period, such rate as will be determined on the related Spread Determination Date pursuant to the terms of the related currency swap agreement.