Flexible Rate definition

Flexible Rate means, with respect to any particular 2024 Series A Variable Rate Bond during a Flexible Rate Term, the rate of interest on such 2024 Series A Variable Rate Bond described in Section 501 of Appendix A hereto.

Flexible Rate means the interest rate on the Bonds established in accordance with Section 2.03(d) hereof.

Flexible Rate means the Interest Rate Mode for the Bonds in which the interest rate for each Bond is determined with respect to that Bond during each Flexible Rate Period applicable to that Bond, as provided in the Indenture.

Examples of Flexible Rate in a sentence

• The Flexible Rate for each Flexible Segment for each Bond shall be determined by the Remarketing Agent no later than 1:00 p.m., New York time on the Business Day preceding the first day of such Flexible Segment (and in time to enable the Remarketing Agent to give to the Trustee the notice required by Section 4.04(c) hereof) to be the lowest interest rate which would enable the Remarketing Agent to sell such Bonds on the effective date of such rate at a price equal to 100% of the principal amount thereof.

• Except with respect to an adjustment to a Term Rate Period from a Flexible Rate, the Trustee shall give notice of an adjustment to (or the continuation of) a Term Rate Period to Owners of such Bonds, by first class mail, postage prepaid, not less than twelve (12) days prior to the effective date of such Term Rate Period.

• In no event shall the Flexible Rate for any Flexible Segment exceed the lesser of 12% per annum or the maximum rate per annum then permitted by applicable law.

• The Remarketing Agent shall provide the Trustee with facsimile or telephonic notice of each Flexible Segment and Flexible Rate, as provided in Section 4.04(c) hereof.

• During any Daily Rate Period, Weekly Rate Period or Flexible Rate Period, interest on the related Bonds shall be computed upon the basis of a 365 or 366-day year, as applicable, for the number of days actually elapsed.

More Definitions of Flexible Rate

Flexible Rate means, with respect to any particular Bond, the per annum interest rate determined for each Flexible Rate Period applicable thereto pursuant to Section 3.03.

Flexible Rate means, with respect to any particular 2021 Series L Bond during a Flexible Rate Term, the rate of interest on such 2021 Series L Bond described in Section 501 of Appendix A hereto.

Flexible Rate means, with respect to any Revenue Bond, the non-variable interest rate associated with such Revenue Bond established in accordance with Section 8(f) of this Article I and Section 203(f) of the Revenue Bond Indenture.

Flexible Rate means the selling price or rate provided for in the Supplement to Agreement for Gas Service for Flexible Sales with each particular customer. A copy of each such supplement and amendments thereto, if any, in the form as agreed to by the parties shall be filed with the Mississippi Public Service Commission prior to any service being rendered thereunder and upon such filing said Agreement, this rider schedule shall be the applicable rate schedule for applicable sales or services to such customer.

Flexible Rate means, with respect to any Chicago Revenue Bond, the non-variable interest rate associated with such Chicago Revenue Bond established in accordance with Section 8(f) of this Article I and Section 203(f) of the Revenue Bond Indenture.

Flexible Rate means the per annum interest rate on a Bond in the Flexible Mode determined for such Bond pursuant to Section 505 hereof. The Bonds in the Flexible Mode may bear interest at different Flexible Rates.

Flexible Rate means, with respect to any particular 2022 Series D Bond during a Flexible Rate Term, the rate of interest on such 2022 Series D Bond described in Section 501 of Appendix A hereto.