Examples of Flexible Term Rate Period in a sentence
During any Flexible Term Rate Period, each of the Series 2014_ Bonds will bear interest at a Flexible Term Rate.
In connection with any change in the Interest Rate Determination Method to a Flexible Term Rate pursuant to Section 2.04, the initial Flexible Term Rate and Flexible Term Rate Period for each Series 2014_ Bond shall be determined as provided above on the applicable Computation Date.
Subject to the provisions of Section 2.05(i), the Series 2014_ Bonds (or the applicable portion of the Series 2014_ 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.
Notwithstanding any provision hereof to the contrary, the Board may not cause any Credit Facility to be terminated prior to its stated expiration date (whether in connection with the delivery of an Alternate Credit Facility or otherwise) during a Flexible Term Rate Period or a Long-Term Rate Period.
During any Flexible Term Rate Period, each of the Series 2014_ Bonds is subject to redemption, at the direction of the Board, in whole or in part, on any Interest Payment Date applicable to such Series 2014_ Bond to be redeemed at a redemption price equal to the principal amount of such Series 2014_ Bond plus accrued interest thereon to, but not including, the redemption date.
With respect to any Flexible Term Rate Period, the Board shall determine the Flexible Term Rate Period, and the Remarketing Agent shall determine the Flexible Term Rate to be applicable to each Series 2014_ Bond by 1:00 p.m., Local Time, on the applicable Computation Date.
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 Series 2014_ Bonds.
Bonds are subject to mandatory tender for purchase as provided in the Modal Agreement on any Mandatory Purchase Date (i.e., any proposed Conversion Date, any Credit Modification Date, a proposed Credit Facility Effective Date, the first Business Day immediately succeeding the last day of each Flexible Term Rate Period applicable to such Series 2014_ Bond then bearing interest at a Flexible Term Rate and certain dates designated by the Credit Provider or the Board) at the Purchase Price thereof.
No Flexible Term Rate Period applicable to any Series 2014_ 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.
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 Holder of such Series 2014_ Bond.