Examples of LIBOR Index Reset Date in a sentence
The Calculation Agent shall determine the LIBOR Index Rate on each Computation Date during the LIBOR Index Rate Period, and such rate shall become effective on the LIBOR Index Reset Date next succeeding the Computation Date and interest at such rate shall accrue each day during such LIBOR Index Rate Period, commencing on and including the first day of such period to but excluding the last day of such period.
The Calculation Agent shall determine the LIBOR Index Rate for each LIBOR Index Interest Period on the Computation Date immediately preceding such LIBOR Index Interest Period, and such rate shall become effective for the LIBOR Index Interest Period on the LIBOR Index Reset Date immediately succeeding such Computation Date.
If the LIBOR Index Rate is not determined by the Calculation Agent on the Computation Date, the Bonds shall continue to bear interest at the LIBOR Index Rate in effect on the immediately preceding LIBOR Index Reset Date until the Calculation Agent next determines the LIBOR Index Rate as required hereunder.
The Calculation Agent shall determine the LIBOR Index Rate on each Computation Date and such rate shall become effective on the LIBOR Index Reset Date next succeeding such Computation Date, and interest at such rate shall accrue each day during such LIBOR Index Rate Period, commencing on and including the first day of such period to but excluding the last day of such period.
The LIBOR Index Rate is defined in the Trust Agreement to mean a per annum rate of interest established on each Computation Date (monthly) and effective on each related LIBOR Index Reset Date equal to the sum of (a) the Applicable Spread (initially 0.625%, but adjustable based on the credit rating of the Roseville Finance Authority’s long-term unenhanced debt secured or evidenced by a parity obligation) plus (b) the product of the LIBOR Index multiplied by the Applicable Factor (initially 70.5%).