First Reset Rate definition

First Reset Rate means the sum of the Reset Margin (as specified in the Final Terms) and the Mid- Swap Rate for the First Reset Period, subject to any amendments resulting from Condition 3(b)(ii)(C);
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First Reset Rate means the sum of the Reset Margin and the Mid-Swap Rate for the First Reset Period;
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First Reset Rate means the sumof the Reset Margin and the applicable Reset Reference Rate for the First Reset Period as determined by the Calculation Agent;
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Examples of First Reset Rate in a sentence

  • If two or more of the Reference Banks provide the Calculation Agent with Mid-Market Swap Rate Quotations, the First Reset Rate of Interest or the Subsequent Reset Rate of Interest (as applicable) for the relevant Reset Period shall be the sum of the arithmetic mean (rounded, if necessary, to the nearest 0.001 per cent.

  • If the Calculation Agent does not at any time for any reason determine the First Reset Rate of Interest or Subsequent Reset Rate of Interest, the Trustee may (at the expense of the Issuer) appoint an agent to do so and such determination or calculation shall be deemed to have been made by the Calculation Agent.

  • If on any Reset Determination Date only one of the Reference Banks provides the Calculation Agent with a Mid-Market Swap Rate Quotation as provided in the foregoing provisions of this paragraph, the First Reset Rate of Interest or the Subsequent Reset Rate of Interest (as applicable) shall be determined to be the sum of the relevant Mid-Market Swap Rate Quotation provided and the First Margin or Subsequent Margin (as applicable), all as determined by the Calculation Agent.

  • If Reset Reference Rate Conversion is specified in the applicable Final Terms as being applicable, the First Reset Rate and, if applicable, each Subsequent Reset Rate will be converted from the Original Reset Reference Rate Payment Basis to a basis which matches the per annum frequency of Interest Payment Dates in respect of the Notes (such calculation to be determined by the Issuer in conjunction with a leading financial institution selected by it).

  • In respect of Resettable Notes which are Definitive Notes, the Calculation Agent will give notice to the Noteholders of the First Reset Rate of Interest and (if applicable) the relevant Subsequent Reset Rate of Interest in accordance with the provisions of Condition 13 (Notices).

  • If Mid-Swap Rate Conversion is so specified as being applicable, the First Reset Rate of Interest and, if applicable, each Subsequent Reset Rate of Interest will be converted from the Original Mid-Swap Rate Basis specified in the relevant Final Terms or Pricing Supplement to a basis which matches the per annum frequency of Interest Payment Dates in respect of the relevant Notes (such calculation to be determined by the Issuer in conjunction with a leading financial institution selected by it).

  • If Reset Reference Rate Conversion is so specified as being applicable, the First Reset Rate of Interest and, if applicable, each Subsequent Reset Rate of Interest will be converted by the Calculation Agent from the Original Reference Rate Payment Basis specified in the applicable Final Terms to a basis which matches the per annum frequency of Interest Payment Dates in respect of the Notes (such calculation to be determined by the Issuer in conjunction with a leading financial institution selected by it).

  • In respect of Resettable Securities which are in definitive form, the Calculation Agent will give notice to the Securityholders of the First Reset Rate of Interest and (if applicable) the relevant Subsequent Reset Rate of Interest in accordance with the provisions of Condition 14 (Notices).

  • If on any Reset Determination Date none of the Reference Banks provides the Calculation Agent with a Mid-Market Swap Rate Quotation as provided in the foregoing provisions of this Condition 10(a), the First Reset Rate of Interest or the Subsequent Reset Rate of Interest (as applicable) shall be determined to be the Rate of Interest as at the last preceding Reset Date or, in the case of the first Reset Determination Date, the First Reset Rate of Interest shall be the Initial Rate of Interest.

  • If the Calculation Agent does not at any time for any reason determine the First Reset Rate of Interest or Subsequent Reset Rate of Interest, the Trustee shall do so and such determination or calculation shall be deemed to have been made by the Calculation Agent.


More Definitions of First Reset Rate

First Reset Rate shall have the meaning ascribed thereto in Section 3.8(a).
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First Reset Rate on the Note shall be a fixed interest rate equal to the First Reset Rate set forth in the Note. For the period beginning on the first day of the month following the month in which the Conversion Date occurs, and on the first day of each month thereafter throughout the balance of the term of the Loan, Borrower shall pay to Bondowner Representative equal monthly installments of principal and interest in an amount sufficient to amortize the Loan over a ( ) year period, as more specifically set forth in the Note. [BORROWER ACKNOWLEDGES THAT THE AMOUNT OWING PURSUANT TO THE NOTE WILL NOT FULLY AMORTIZE BY THE CCRC TAKEOUT LOAN MATURITY DATE (AS DEFINED IN THE NOTE), AND THAT ON THE CCRC TAKEOUT LOAN MATURITY DATE, A SUBSTANTIAL “BALLOON PAYMENT” WILL BE DUE AND PAYABLE.]
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First Reset Rate has the meaning specified in Condition 5(a)(II).
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First Reset Rate on this Note from the Conversion Date until the Second Reset Date shall be a fixed interest rate of __________ percent (___%) per annum, provided that the Conversion Date occurs on or prior to _____________. If CCRC agrees in its sole discretion to extend the Termination Date under the Bond Purchase Agreement, and the Conversion Date occurs after ____________ in accordance with such extension, then unless CCRC otherwise conditions such extension, the First Reset Rate shall be determined as of the date ten (10) days prior to the Conversion Date as the greater of (a) _______% or (b) the percentage obtained by adding 2.00% to the Index; provided, however, that in no event shall the First Reset Rate exceed the lesser of (i) twelve percent (12.00%) per annum or (ii) the maximum rate permitted by law.
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First Reset Rate means the sum of the Reset Margin and the Mid-Swap Rate for the First Reset Period; Mid-Swap Rate means, in relation to a Reset Date and the Reset Period commencing on that Reset Date, the rate for the Reset Date of, in the case of semi-annual or annual Interest Payment Dates, the semi-annual or annual swap rate, respectively (with such semi-annual swap rate to be converted to a quarterly rate in accordance with market convention, in the case of quarterly Interest Payment Dates) for swap transactions in the Specified Currency maturing on the last day of such Reset Period, expressed as a percentage, which appears on the Relevant Screen Page as of approximately 11.00
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First Reset Rate on the Note shall be a fixed interest rate equal to the First Reset Rate set forth in the Note. From the Conversion Date through the CCRC Takeout Loan Maturity Date, the outstanding principal balance of the Note shall bear interest at the First Reset Rate. For the period beginning on the first day of the month following the month in which the Conversion Date occurs, and on the first day of each month thereafter throughout the balance of the term of the Loan, Borrower shall pay to Bondowner Representative equal monthly installments of principal and interest in an amount sufficient to amortize the Loan over a twenty (20) year period, as more specifically set forth in the Note. BORROWER ACKNOWLEDGES THAT THE AMOUNT OWING PURSUANT TO THE NOTE WILL NOT FULLY AMORTIZE BY THE CCRC TAKEOUT LOAN MATURITY DATE, AND THAT ON THE CCRC TAKEOUT LOAN MATURITY DATE, A SUBSTANTIAL “BALLOON PAYMENT” WILL BE DUE AND PAYABLE.
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Related to First Reset Rate

  • First Reset Date means the date specified in the relevant Final Terms or Pricing Supplement, as applicable;

  • First Reset Rate of Interest means, in respect of the First Reset Period and subject to Condition 5.2(b), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the Reference Rate and the First Margin;

  • First Reset Period means the period from (and including) the First Reset Date until (but excluding) the Second Reset Date or, if no such Second Reset Date is specified in the applicable Final Terms, the Maturity Date;

  • Reset Rate has the meaning specified in Section 2(d).

  • Second Reset Date means the date specified as such in the Final Terms;

  • Interest Reset Date means, with respect to any Interest Period with respect to the Floating Rate Notes, the first day of such Interest Period; provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed to the next succeeding day that is a Business Day, except that if that Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day.

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period, the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • SOFR Reset Date means each Business Day during the relevant Interest Period, provided however that if both a Benchmark Event and a SOFR Index Cessation Date have occurred, it shall mean: (i) in respect of the period from, and including, the first day of the Interest Period in which the SOFR Index Cessation Date falls (such Interest Period, the “Affected Interest Period”) to, but excluding, the SOFR Index Cessation Date (such period, the “Partial SOFR Period”), each Business Day during the Partial SOFR Period; (ii) in respect of the period from, and including, the SOFR Index Cessation Date to, but excluding, the Interest Payment Date in respect of the Affected Interest Period (such period, the “Partial Fallback Period”), each New York City Banking Day during the Partial Fallback Period; and (iii) in respect of each Interest Period subsequent to the Affected Interest Period, each New York City Banking Day during the relevant Interest Period.

  • Initial Rate Period means, with respect to the VMTP Shares of any Series, the period commencing on and including the Date of Original Issue thereof and ending on, and including, the next succeeding calendar day that is a Wednesday (or if such Wednesday is not a Business Day, the next succeeding Business Day).

  • Interest Reset Period The period beginning on the applicable Reset Date and ending on the calendar day preceding the next Reset Date.

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • Auction Date means the first Business Day preceding the first day of a Dividend Period.

  • Reset Date means the First Reset Date, the Second Reset Date and each Subsequent Reset Date (as applicable);

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • Rate Period has the meaning set forth in the Statement.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Pricing Rate Determination Date means with respect to any Pricing Rate Period with respect to any Transaction, the second (2nd) Business Day preceding the first day of such Pricing Rate Period.

  • Auction Period means the dates during which the Test the Waters Auction is held and ending on the last day of the Test the Waters Auction.

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on September 20, 2018 and ending on and including December 19, 2018, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Subsequent Rate Period means, with respect to any Series of RVMTP Shares, the period consisting of seven calendar days, but adjusted in each case to reflect any changes when the regular calendar day that is a Rate Determination Date is not a Business Day, from, and including, the first calendar day following the Initial Rate Period of such Series to, and including, the next Rate Determination Date for such Series and any period thereafter from, and including, the first calendar day following a Rate Determination Date for shares of such Series to, and including, the next succeeding Rate Determination Date for shares of such Series.

  • Subsequent Reset Date means the date or dates specified in the applicable Final Terms;

  • Optional Reset Date has the meaning specified in Section 307(b).