Flexible Term Rate definition

Flexible Term Rate means the Flexible Term Rate established for each of the Bonds in accordance with Section 2.03(c).
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Flexible Term Rate means, with respect to the Bonds of a Series, the Flexible Term Rate established for each such Bond in accordance with Section 2.3(e).
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Flexible Term Rate means the Flexible Term Rate established for each of the Bonds in accordance withSection 2.3(c).
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Examples of Flexible Term Rate in a sentence

  • During any Flexible Term Rate Period, each of the Bonds will bear interest at a Flexible Term Rate.

  • The Bonds (or the applicable portion of the Bonds during any Flexible Term Rate Period) shall be subject to mandatory tender for purchase on each Mandatory Purchase Date at the Purchase Price thereof.

  • For each Flexible Term Rate Bond, the Flexible Term Rate Period shall be the period which would, in the judgment of the Remarketing Agent, having due regard to prevailing financial market conditions for securities of the same general nature as such Bond which are comparable as to credit and maturity (or period for tender) with the credit and maturity of such Bond, ultimately produce the lowest overall net interest cost on such Bond to maturity.

  • With respect to any Flexible Term Rate Period, the Borrower shall determine the Flexible Term Rate Period, and the Remarketing Agent shall determine the Flexible Term Rate to be applicable to each Bond by 1:00 p.m., Local Time, on the applicable Computation Date.

  • With respect to a Mandatory Purchase Date that is the first Business Day immediately succeeding the last day of each Flexible Term Rate Period applicable to a Bond, no notice of such Mandatory Purchase Date shall be sent to the Owner of such Bond.

  • During any Flexible Term Rate Period, the Credit Facility Effective Date must be a day that would otherwise be an Interest Payment Date for all of the Bonds.

  • The Interest Rate Determination Method may not be converted to a Flexible Term Rate unless the interest component of the Credit Facility to be in effect immediately following such conversion, if any, provides for payment of at least 271 days of interest on the Bonds at the Ceiling Rate.

  • No Flexible Term Rate Period applicable to any Bond may (A) be less than one or more than 270 days in length,(B) extend beyond any scheduled Mandatory Purchase Date or the Maturity Date, or(C) end on a day preceding a non-Business Day.

  • Notwithstanding any provision hereof to the contrary, the Borrower may not cause any Credit Facility to be terminated (whether in connection with the delivery of an Alternate Credit Facility or otherwise) during a Flexible Term Rate Period.

  • The bonds bear interest at a weekly rate and continue to bear interest at the weekly rate to the date upon which the interest rate is converted, if ever, to the Flexible Term Rate, the Medium Term Rate or the Fixed Rate in accordance with the terms of the Indenture.


More Definitions of Flexible Term Rate

Flexible Term Rate means the Flexible Term Rate established for each of the Series 2014_ Bonds in accordance with Section 2.03(d).
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Related to Flexible Term Rate

  • Three-Month Term SOFR means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Interest Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions.

  • Three-Month Term SOFR Conventions means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “interest period,” timing and frequency of determining Three-Month Term SOFR with respect to each interest period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation Agent determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Calculation Agent determines is reasonably necessary).

  • Term Rate means the per annum interest rate with respect to Bonds in the Term Rate Mode determined pursuant to Section 2.09.

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Long-term contract means a contract with a duration period exceeding one year;

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • 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.

  • Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

  • Qualified long-term care services means services that meet the requirements of Section 7702(c)(1) of the Internal Revenue Code of 1986, as amended, as follows: necessary diagnostic, preventive, therapeutic, curative, treatment, mitigation and rehabilitative services, and maintenance or personal care services which are required by a chronically ill individual, and are provided pursuant to a plan of care prescribed by a licensed health care practitioner.

  • Flexible RAR means the flexible resource adequacy requirements established for Load Serving Entities (as defined in the CAISO Tariff) by the CPUC pursuant to the CPUC Decisions, or by any other Governmental Authority having jurisdiction.

  • Long-term care means those activities taken by a host state after a compact facility is permanently closed to ensure the protection of air, land, and water resources and the health and safety of all people who may be affected by the compact facility.

  • The term "Record Date means the "Record Dates" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust. Section 1.01 (1) of the Standard Terms and Conditions of Trust is replaced in its entirety with the following:

  • Long-Term Rating has the meaning specified in the Intercreditor Agreement.

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Additional Term Loan has the meaning specified in Section 2.01(c).

  • Change in Control Protection Period means the period commencing on the date a Change in Control occurs and ending on the first anniversary of such date.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Long-term care services means services provided through the department of social and health services either in a hospital or skilled nursing facility, or in another setting under a home and community-based waiver authorized under 42 U.S.C. Sec. 1396n.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • 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.

  • Federal short-term rate means the rate of the average market yield on outstanding marketable obligations of the United States with remaining periods to maturity of three years or less, as determined under section 1274 of the Internal Revenue Code, for July of the current year.

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • Long-term lease means a lease term of at least 27.5 years for a residential resource or at least 31.5 years for a nonresidential resource.

  • Contract Term Adjustment means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.