Flexible Term Rate Period definition

Flexible Term Rate Period means, with respect to the Bonds of a Series, any and all periods during which each such Bond bears interest at a Flexible Term Rate, such periods not to be of a duration in excess of 270 days as may be determined by the Remarketing Agent pursuant to Section 2.3(e).
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Flexible Term Rate Period means any period during which the Bonds bear interest at a Flexible Term Rate.
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Flexible Term Rate Period means any and all periods during which each of the Bonds bears interest at a Flexible Term Rate, such periods not to be of a duration in excess of 270 days as may be determined by the Remarketing Agent pursuant toSection 2.3(c).
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Examples of Flexible Term Rate Period 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.

  • 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 Bond shall be determined as provided above 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.

  • 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.

  • In connection with any change in the Interest Rate Determination Method to a Flexible Term Rate pursuant to Section 2.4, the initial Flexible Term Rate and Flexible Term Rate Period for each Bond shall be determined as provided above on the applicable Computation Date.


More Definitions of Flexible Term Rate Period

Flexible Term Rate Period means any period during which the Series 2014_ Bonds bear interest at a Flexible Term Rate, as may be determined by the Board pursuant to Section 2.03(d).
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Flexible Term Rate Period means any and all periods during which each of the Bonds bears interest at a Flexible Term Rate, as may be determined by the Company pursuant to Section 2.03(c).
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Related to Flexible Term Rate Period

  • 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.

  • 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.

  • Daily Rate Period means any period of time during which a Group of 2023 Series B Variable Rate Bonds bears interest at the Daily Rate.

  • Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days.

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

  • 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).

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

  • 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.

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

  • 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).

  • 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.

  • 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.

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

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

  • 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.

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

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

  • 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.

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

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c)(i).

  • 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:

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • 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.

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