Interest Rate Adjustment Event definition

Interest Rate Adjustment Event means the occurrence of any of the following:
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Interest Rate Adjustment Event means any Interest Payment Date on which the Current Market Price exceeds the product of the Conversion Price and the Factor.
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Interest Rate Adjustment Event shall have the meaning provided in Section 1.07(c).
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Examples of Interest Rate Adjustment Event in a sentence

  • As of the date of an Interest Rate Adjustment Event to and until such date that an Interest Rate Adjustment Event is no longer continuing, the Notes will bear interest at the Adjusted Interest Rate.

  • The Interest Rate shall be reduced from time to time by 100 basis points (1.0%) for each Interest Rate Adjustment Event (if any), as of the date of that Interest Rate Adjustment Event, but in no event below zero, provided that the Equity Conditions are satisfied on, and at all times during the sixty day period preceding, the applicable Interest Payment Date.

  • Immediately upon the cessation or waiver of an Interest Rate Adjustment Event this Bond shall cease to bear the additional 2% per annum interest rate referenced in clause (a) above.

  • The Interest Rate shall be reduced from time to time by 50 basis points (0.5%) for each Interest Rate Adjustment Event (if any), as of the date of that Interest Rate Adjustment Event, but in no event below zero, provided that the Equity Conditions are satisfied on, and at all times during the sixty day period preceding, the applicable Interest Payment Date.

  • Promptly following the occurrence of an Interest Rate Adjustment Event, the Company shall give notice of the occurrence thereof to the Trustee, to the Paying Agent and to each Holder of Securities in the manner provided for in Section 1.6. Such notice shall include the amount to be paid to the Holders of record as of such Regular Record Date on the next following Interest Payment Date.

  • Any amounts owing as a result of such increase shall be paid to the Holders of record as of the Regular Record Date next following any such Interest Rate Adjustment Event, on the immediately following Interest Payment Date, and thereafter will be payable semiannually in arrears on February 1 and August 1 of each year to the Holders of record on the immediately preceding Regular Record Date.

  • Once reduced the Interest Rate shall not be subsequently increased as a result of an Interest Rate Adjustment Event.

  • The 2011 Series A Bonds shall bear interest from their date of issuance, payable semi-annually on June 1 and December 1 of each year commencing on June 1, 2011, at the rate of 4.83%, subject to adjustment for an Interest Rate Adjustment Event as provided in the 2011 Series A Bonds.

  • The 2013 Series A Bonds shall bear interest from their date of issuance, payable semi-annually on June 1 and December 1 of each year commencing on December 1, 2013, at the rate of 4.21% per annum, subject to adjustment for an Interest Rate Adjustment Event as provided in the 2013 Series A Bonds.

  • The initial annual interest rate of 7.375% per annum is subject to adjustment from time to time based on changes to the ratings of the notes by one or more NRSROs. The annual interest rate on the notes will increase by 1.00% in excess of the initial rate beginning on the date of the occurrence of an Interest Rate Adjustment Event (as defined below) and until such date that an Interest Rate Adjustment Event is no longer continuing.


More Definitions of Interest Rate Adjustment Event

Interest Rate Adjustment Event means (i) the Notes are downgraded below Investment Grade by an NRSRO or (ii) the Notes no longer maintain a rating from an NRSRO.
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Interest Rate Adjustment Event means (i) the Notes are downgraded below Investment Grade by the Rating Agency or (ii) the Notes no longer maintain a rating from the Rating Agency.
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Interest Rate Adjustment Event shall occur if on any day the notes have either a Non-IG Rating (as defined below) or no rating from any NRSRO. A “Non-IG Rating” will occur if as of any day: • assuming the notes are rated by only one NRSRO, the then most recent rating from such NRSRO is BB+ or lower; • assuming the notes are rated by only two NRSROs, the then lower of the most recent ratings from such NRSROs is BB+ or lower; or • assuming the notes are rated by three or more NRSROs, the then second lowest of the most recent ratings from such NRSROs is a BB+ or lower. The ratings categories referred to in the preceding definitions are those used by Exxx-Xxxxx Ratings Company but are deemed to refer also to the equivalent ratings of any other NRSRO.
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Interest Rate Adjustment Event has the meaning specified in Section 2.04(d) hereof.
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Interest Rate Adjustment Event shall occur if on any day the Notes have either a Non-IG Rating (as defined below) or no rating from any NRSRO.
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Related to Interest Rate Adjustment Event

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • LIBOR Rate Adjustment Date With respect to each Distribution Date, the second LIBOR Business Day immediately preceding the commencement of the related Interest Accrual Period.

  • Rate Adjustment Date With respect to each ARM Loan, the date on which the Note Rate adjusts.

  • Value Adjustment Event means, with respect to any Loan Asset, the occurrence of any one or more of the following events after the related Cut-Off Date:

  • Index Adjustment Event means, in respect of the Index, an Administrator/Benchmark Event, an Index Cancellation, an Index Disruption or an Index Modification.

  • Adjustment Event means each of the following events:

  • Adjustment Events the Partnership makes a distribution on all outstanding OP Units in Partnership Units, (B) the Partnership subdivides the outstanding OP Units into a greater number of units or combines the outstanding OP Units into a smaller number of units, or (C) the Partnership issues any Partnership Units in exchange for its outstanding OP Units by way of a reclassification or recapitalization of its OP Units. If more than one Adjustment Event occurs, the adjustment to the Class B Units need be made only once using a single formula that takes into account each and every Adjustment Event as if all Adjustment Events occurred simultaneously. For the avoidance of doubt, the following events shall not be Adjustment Events: (x) the issuance of Partnership Units in a financing, reorganization, acquisition or other similar business transaction, (y) the issuance of Partnership Units pursuant to any employee benefit or compensation plan or distribution reinvestment plan, or (z) the issuance of any Partnership Units in respect of a capital contribution to the Partnership, including a contribution by the General Partner of proceeds from the sale of securities by the General Partner. If the Partnership takes an action affecting the OP Units other than actions specifically described above as Adjustment Events and, in the opinion of the General Partner such action would require an adjustment to the Class B Units to maintain the one-to-one correspondence described above, the General Partner shall have the right to make such adjustment to the Class B Units, to the extent permitted by law, in such manner and at such time as the General Partner, in its sole discretion, may determine to be appropriate under the circumstances. If an adjustment is made to the Class B Units as herein provided, the Partnership shall promptly file in the books and records of the Partnership an officer’s certificate setting forth such adjustment and a brief statement of the facts requiring such adjustment, which certificate shall be conclusive evidence of the correctness of such adjustment absent manifest error. Promptly after the filing of such certificate, the Partnership shall mail a notice to each holder of Class B Units setting forth the adjustment to his, her or its Class B Units and the effective date of such adjustment.

  • Optimal Adjustment Event With respect to any Class of Class B Certificates and any Distribution Date, an Optimal Adjustment Event will occur with respect to such Class if: (i) the Principal Balance of such Class on the Determination Date succeeding such Distribution Date would have been reduced to zero (regardless of whether such Principal Balance was reduced to zero as a result of principal distribution or the allocation of Realized Losses) and (ii) (a) the Principal Balance of any Class of Class A Certificates would be subject to further reduction as a result of the third or fifth sentences of the definition of Principal Balance or (b) the Principal Balance of a Class of Class B Certificates with a lower numerical designation would be reduced with respect to such Distribution Date as a result of the application of clause (ii) of the definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance or Class B-6 Principal Balance.

  • Extraordinary Adjustment Event means any of the following events as they relate to the Reference In- strument:

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • LIBOR Adjustment Date With respect to any Payment Date, the second business day before the related Accrual Period begins. For this purpose, a “business day” is a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.

  • Adjusted Conversion Price means the lesser of the Fixed Conversion Price or the Floating Conversion Price one day prior to the record date set for the determination of stockholders entitled to receive dividends, distributions, rights or warrants as provided for in Sections 4(c)(ii), (iii) and (iv).

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • Reference Interest Rate Transition Event means the occurrence of one or more of the following events with respect to the then-current Reference Interest Rate:

  • Reference Interest Rate Replacement Adjustment means the first alternative set forth in the order below that can be determined by the Issuer or its designee as of the Reference Interest Rate Replacement Date:

  • Interest Rate Change Date The date on which the Mortgage Interest Rate is subject to change as provided in the related Mortgage Note.

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Reference Rate of Interest Event means, with respect to the Swap Rate or any subsequent Reference Rate of Interest (the "Reference Rate of Interest") one of the following events:

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • 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.

  • Conversion to Fixed Interest Rate With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan is not a Convertible Mortgage Loan;