Floating Rate Determination Date definition

Floating Rate Determination Date. For any Interest Accrual Period for the Class A-1 Certificates, the second London Banking Day prior to the commencement of such Interest Accrual Period.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Floating Rate Determination Date means the second London Business Day immediately preceding the first day of the relevant Distribution Period in the Floating Rate Period.

Floating Rate Determination Date means the [first] [second] [insert other relevant number of Business Days] Business Day [(as defined in § 1 (6))] [prior to the [commencement] [end]] of the relevant Floating Distribution Period. [if a definition is required, which differs from the "Business Day" definition applicable in § 1, insert: For the purposes of this § 3 (2) only, "Business Day" means a calendar day (other than a Saturday or a Sunday) on which [in case TARGET shall be open, insert: the Trans- European Automated Real-time Gross Settlement Express Transfer System 2 or its successor ("TARGET") is open] [[and] commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in [insert relevant financial centres]].

Examples of Floating Rate Determination Date in a sentence

• Prime Floating Rate Determination Date The second Business Day before the first calendar day of the month in which the related Prime Floating Rate Reset Date occurs.

• The Indexed Floating Rate for each subsequent Indexed Floating Rate Interest Accrual Period during an Indexed Floating Rate Period other than the Initial Interest Period shall be calculated on each Indexed Floating Rate Determination Date by the Calculation Agent.

• Upon the initial issuance of 2022 Subordinate Bonds, such 2022 Subordinate Bonds shall bear interest at the Indexed Floating Rate determined by the Calculation Agent on each Indexed Floating Rate Determination Date; provided, however, that during the Initial Indexed Floating Rate Period from and after the occurrence of a Continuing Covenant Agreement Event of Default, the 2022 Subordinate Bonds shall bear interest at the Default Rate.

• Trust Floating Rate Determination Date The second Business Day before the first calendar day of the month in which the related Trust Floating Rate Reset Date occurs.

• The Calculation Agent shall calculate the Indexed Floating Rate for Indexed Floating Rate Bonds and shall furnish such Indexed Floating Rate to the Trustee (if the Trustee is not also the Calculation Agent), the Purchaser and the Commission by facsimile or electronic mail by the close of business on each Indexed Floating Rate Determination Date.

More Definitions of Floating Rate Determination Date

Floating Rate Determination Date means February 25, May 25, August 25 and November 25 of each year.

Floating Rate Determination Date means, with respect to any Calculation Period, the day on which such Calculation Period begins or, in the event that such day is not a Business Day, the next following Business Day, except as may otherwise be set forth herein.

Floating Rate Determination Date means December 14, March 14, June 14 and September 14 of each year.

Floating Rate Determination Date. For each Accrual Period, the second London Banking Day prior to the commencement of such Accrual Period.

Floating Rate Determination Date means the date that is five U.S. Government Securities Business Days before the related Floating Rate Interest Payment Date (or (i) in the final Floating Rate Interest Period, before the Floating Rate Notes Maturity Date, or (ii) in the case of any redemption of the floating rate notes, before the redemption date);

Floating Rate Determination Date means [] in each year. The number of floating rate determination dates per calendar year is [insert number of regular floating distribution payment dates per calendar year].]

Floating Rate Determination Date means the second Business Day (as defined in § 1 (6)) prior to the commencement of the relevant Floating Distribution Period.