Interest rate exchange or similar agreement means a written contract with a counterparty to provide for an exchange of payments based upon fixed or variable interest rates, or both fixed and variable interest rates.
Interest rate exchange or similar agreement means a written contract with a counterparty to provide for an exchange of payments based upon fixed or variable interest rates or on both fixed and variable interest rates relating to bonds issued under this act.
Interest rate exchange or similar agreement means a written
More Definitions of Interest rate exchange or similar agreement
Interest rate exchange or similar agreement means a written contract entered into in connection with the issuance of State-supported debt, or in connection with such State-supported debt already outstanding, with a counterparty to provide for an exchange of payments based upon fixed and/or variable interest rates, and shall be for exchanges in currency of the United States of America only.
Interest rate exchange or similar agreement means a written contract entered into in connection with the issuance of [State-support- ed] STATE-FUNDED debt, or in connection with such [State-supported] STATE-FUNDED debt already outstanding, with a counterparty to provide for an exchange of payments based upon fixed and/or variable interest rates, and shall be for exchanges in currency of the United States of America only. 3. "[State-supported] STATE-FUNDED debt" shall mean all debt included in subdivision [one] THREE of section sixty-seven-a of this chapter. 4. "Authorized issuer" shall mean the state or any state public corpo- ration which is authorized to issue [State-supported] STATE-FUNDED debt. 5. "Governing board" shall mean, for each state public corporation which is authorized to issue [State-supported] STATE-FUNDED debt, its board of directors or, in the absence of a board of directors, its other appropriate supervising body and, in relation to state general obli- gation debt, the state comptroller. 6. "Variable rate debt instruments" shall mean, for any calculation purpose, (i) variable rate bonds or (ii) any [state-supported] STATE-FUNDED debt and related interest rate exchange or similar agree- ments which, when considered together, result in an authorized issuer effectively paying interest at a rate or rates which varies from time to time, but shall not include any variable rate bonds, or any [state-sup- ported] STATE-FUNDED debt considered together with related interest rate exchange or similar agreements issued on or before July first, two thou- sand five, during any period that such instrument or instruments provide for payment by the authorized issuer of a fixed rate throughout the then current fiscal year of the state. 7. "Excluded agreements" shall mean the total notional amount of interest rate exchange or similar agreements entered into for the purpose of reducing or eliminating a situation of risk or exposure under an existing interest rate exchange or similar agreement, including, but not limited to a counterparty downgrade, default, or other actual or potential economic loss; provided, however, that for agreements entered into on and after April first, two thousand seven "excluded agreements" shall mean the total notional amount of interest rate exchange or simi- lar agreements entered into for the purpose of reducing or eliminating a situation of imminent risk under an existing interest rate exchange or similar agreement, including, but not limited to a counterparty down- gra...
Interest rate exchange or similar agreement means a written contract entered into in connection with the issuance of bonds or with such bonds outstanding with a counterparty to provide for an exchange or swap of payments based upon fixed and/or variable interest rates, and shall be for exchanges in currency of the United States of America only. (n) "Net proceeds" means the amount of proceeds remaining following each sale of bonds which are not required by the authority for purposes of this section to pay or provide for debt service or financing costs, as provided in the financing agreement.