Fixed Rate Renewal definition

Fixed Rate Renewal has the meaning assigned thereto in Section 22.4 of the Lease.
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Fixed Rate Renewal shall have the meaning assigned in Section 2(c)(iii) of the Charter.
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Examples of Fixed Rate Renewal in a sentence

  • Lessee shall not be entitled to enter any Fixed Rate Renewal following the expiry of any Fair Market Renewal.

  • During any Renewal Term, the Stipulated Loss Amount and Termination Amount of any Unit shall be determined on the basis of the Fair Market Sales Value of such Unit as of the first day of such Renewal Term, reduced in equal monthly increments to the Fair Market Sales Value of such Unit as of the last day of such Renewal Term; provided that in no event during any Fixed Rate Renewal shall the Stipulated Loss Amount and Termination Amount of any Unit be less than 20% of the Equipment Cost of such Unit.

  • At Lessee's option, such renewal may, in the case of a Fair Market Renewal, be for a renewal term of one or more years or, in the case of a Fixed Rate Renewal, be for an initial renewal term of three years (but not to extend beyond the Outside Renewal Date) and in connection with any renewal term following the initial renewal term, a term of one year or more expiring not later than the Outside Renewal Date, in each case as Lessee shall specify in such notice, which notice shall be irrevocable.

  • Lessee may exercise this renewal option by giving Lessor written notice not less than 90 days and not more than 360 days prior to the end of the Basic Term (or, in the circumstances described below the then Renewal Term) that Lessee elects to renew this Lease with respect to all, but not less than all, of the Units then leased hereunder at a rental payment calculated by reference to the then fair market rental value (a "Fair Market Renewal") or a fixed rental (a "Fixed Rate Renewal").

  • Each Fixed Rate Renewal Term shall commence immediately upon the expiration of the Basic Term or the preceding Fixed Rate Renewal Term, as the case may be.

  • Anything contained in this Lease or any other Operative Document to the contrary notwithstanding, payments of Interim Rent and Base Rent shall be required to be paid at times and in amounts at least sufficient to pay in full any payments required to be made in respect of (i) principal (other than any balloon or accelerated payment) and interest arising under the Debt Documents, and (ii) Head Lease Fixed Rate Interim Rent, Head Lease Base Rent and Head Lease Fixed Rate Renewal Rent under the Head Lease.

  • If Lessee selects a Fixed Rate Renewal Term such that the period following such term until the Outside Date is at least one year, then Lessee may elect one or more further renewals of one or more years pursuant to this Section 22.4(a) so long as no such term extends beyond the Outside Date.

  • If Lessee selects a Fixed Rate Renewal Term such that the period following such term until the Outside Fixed Renewal Date is longer than one year, then Lessee may elect one or more further renewals of one or more years pursuant to this Section 22.4(a) so long as no such term extends beyond the Outside Fixed Renewal Date.

  • The foregoing notice from Lessee shall specify the term (the "Fixed Rate Renewal Term") that Lessee selects for its initial renewal under this Section 22.4(a), which shall be for one or more years as Lessee shall select; provided that such Fixed Rate Renewal Term in no event shall extend beyond the Outside Date.

  • Basic Rent for each Rent Payment Date during each Fixed Rate Renewal Term after the first two (2) Fixed Rate Renewal Terms shall be payable monthly in advance on the day of each month that Basic Rent was due during the last year of the Basic Term and in the amount of 105% of Basic Rent that was due during the last year of the immediately preceding Fixed Rate Renewal Term.

Related to Fixed Rate Renewal

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

  • Fixed Rate Term means a period commencing on a Business Day and continuing for 1, 2, 3 or 6 months, as designated by Borrower, during which all or a portion of the outstanding principal balance of this Note bears interest determined in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than One Hundred Thousand Dollars ($100,000.00); and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day.

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.

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

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on July 1, 2020 and ending on and including June 30, 2025 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including June 30 in the fifth year thereafter.

  • Pricing Rate Period means, with respect to any Transaction and any Remittance Date (a) in the case of the first Pricing Rate Period, the period commencing on and including the Purchase Date for such Transaction and ending on and excluding the following Remittance Date, and (b) in the case of any subsequent Pricing Rate Period, the period commencing on and including the immediately preceding Remittance Date and ending on and excluding such Remittance Date; provided, however, that in no event shall any Pricing Rate Period for a Purchased Asset end subsequent to the Repurchase Date for such Purchased Asset.

  • 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.

  • Fixed Rate Period Remaining Life means, with respect to any Debenture, the period from the Special Redemption Date for such Debenture to the Interest Payment Date in December 2010.

  • 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.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • 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.

  • 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).

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Fixed Rate Note means a Note on which interest is calculated at a fixed rate payable in arrear on a fixed date or fixed dates in each year and on redemption or on such other dates as may be agreed between the Issuer and the relevant Dealer(s) (as indicated in the applicable Final Terms);

  • 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.

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

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

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Notice of Special Rate Period means any notice with respect to a Special Rate Period of shares of MuniPreferred pursuant to subparagraph (d)(i) of Section 4 of Part I of this Statement.

  • Term Rate Period means any period of time during which a Group of 2024 Series A Variable Rate Bonds bears interest at the Term Rate.

  • Weekly Rate Period means any period of time during which a Group of 2021 Series J Variable Rate Bonds bears interest at the Weekly Rate.

  • 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.

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).