Interest Rate Contract Provider definition

Interest Rate Contract Provider means a Person that is a party to an Interest Rate Contract with the Authority with respect to specified Bonds and who satisfies the applicable requirements of the Interest Rate Exchange Agreements Act, being Article 59.3, Title 11 of Colorado Revised Statutes, and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently high to maintain the then current rating on such Bonds by such Rating Agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.
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Interest Rate Contract Provider means a Person that is a party to an Interest Rate Contract with the Authority with respect to specified Bonds and who satisfies the applicable requirements of the Interest Rate Exchange Agreements Act, being Article 59.3, Title 11 of Colorado Revised Statutes, and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently
Sample 1Sample 2Sample 3
Interest Rate Contract Provider means a Person that is a party to an Interest Rate Contract with the Issuer with respect to specified Bonds and whose credit rating by each nationally recognized rating agency then rating the Bonds is sufficiently high to maintain the then current rating on such Bonds by such rating agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.
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Examples of Interest Rate Contract Provider in a sentence

  • The Authority’s obligation to make regular interest payments to the 2020C-2 Interest Rate Contract Provider is expected to be a Class I Obligation under the Master Indenture, secured on parity with the lien on the Trust Estate of the other Class I Obligations.

  • Concurrently, the Authority will receive payments from the 2020F-2 Interest Rate Contract Provider based upon the above notional amount and a variable interest rate (___________), which is expected to equal or approximate the interest rate on the 2020 Series F-2 Bonds.[The 2020F-2 Interest Rate Contract expires on ____ 1, 20__ but can be terminated early, in whole or in part, at any time at the option of the Authority upon payment of a market based termination payment.

  • Under the terms of the 2020F-2 Interest Rate Contract, the Authority will make payments to the 202F-2 Interest Rate Contract Provider semiannually (May 1 and November 1), commencing _________ 1, 20__, on the basis of a notional principal amount of $_________ (which amount declines semiannually in amounts expected to match the amortization of the 2020 Series F-2 Bonds) and an interest rate equal to an agreed‑upon fixed rate (________%).

  • In the event that the weighted average of one-month LIBOR for a calculation period is equal to or greater than a certain percentage, the variable rate payment obligation of the Interest Rate Contract Provider to be received by the Issuer under this Interest Rate Contract will be 68% of one-month LIBOR plus 0.20% based on a LIBOR-based rate.

  • The obligation of the Authority to make fixed rate interest payments to the Interest Rate Contract Provider under the Interest Rate Contract is a Class I Auxiliary Obligation under the Indenture and the obligation of the Authority to make other payments under the Interest Rate Contract is a General Obligation of the Authority and is not secured by the Trust Estate.

  • Payments made to the Authority by the 2020F-2 Interest Rate Contract Provider are pledged as Revenues under the Master Indenture.

  • Payments made to the Authority by the 2020C-2 Interest Rate Contract Provider are expected to be pledged as Revenues under the Master Indenture.

  • The notional amount of the 2020F-2 Interest Rate Contract is also subject to mandatory semi-annual reductions beginning ______ 1, 20__ through ______ 1, 20__.] The Authority’s obligation to make regular interest payments to the 2020F-2 Interest Rate Contract Provider is a Class I Obligation under the Master Indenture, secured on parity with the lien on the Trust Estate of the other Class I Obligations.


More Definitions of Interest Rate Contract Provider

Interest Rate Contract Provider means, initially, with respect to the Adjustable Rate Bonds, Xxxxxx Brothers Financial Products Inc., a party to the Initial Interest Rate Contract, and its respective successors and assigns, or, with respect to an Alternate Interest Rate Contract, the Interest Rate Contract Provider thereunder.
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Related to Interest Rate Contract Provider

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Interest Rate Agreement means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary.

  • RATE CONTRACT means the agreement for supply of goods/ materials between Owner and Vendor, for a fixed period of time (i.e till validity of Rate Contract, with no commitment of contractual quantity) on mutually agreed terms and conditions. The actual supply of goods/ materials shall take place only on issue of separate purchase orders for required quantity as and when required by Owner.

  • Secured Rate Contract means any Rate Contract between Borrower and the counterparty thereto, which (i) has been provided or arranged by GE Capital or an Affiliate of GE Capital, or (ii) Agent has acknowledged in writing constitutes a “Secured Rate Contract” hereunder.

  • Interest Rate Protection Agreement means any interest rate swap agreement, interest rate cap agreement, interest collar agreement, interest rate hedging agreement or other similar agreement or arrangement.

  • 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.

  • Interest Rate Agreements means one or more of the following agreements which shall be entered into by one or more financial institutions: interest rate protection agreements (including, without limitation, interest rate swaps, caps, floors, collars and similar agreements) and/or other types of interest rate hedging agreements from time to time.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid.

  • Interest Rate Hedge means an interest rate exchange, collar, cap, swap, adjustable strike cap, adjustable strike corridor or similar agreements entered into by the Borrower or its Subsidiaries in order to provide protection to, or minimize the impact upon, the Borrower, any Guarantor and/or their respective Subsidiaries of increasing floating rates of interest applicable to Indebtedness.

  • Rate Contracts means swap agreements (as such term is defined in Section 101 of the Bankruptcy Code) and any other agreements or arrangements designed to provide protection against fluctuations in interest or currency exchange rates.

  • Swap Provider The swap provider under the Swap Agreement either (a) entitled to receive payments from the Supplemental Interest Trust or (b) required to make payments to the Supplemental Interest Trust, in either case pursuant to the terms of the Swap Agreement, and any successor in interest or assign. Initially, the Swap Provider shall be Deutsche Bank AG New York Branch.