Examples of LIBOR Rate Notes in a sentence
Such notices, which shall clearly indicate that they relate to a pro rata reduction of principal on the notes of such Class of the LIBOR Rate Notes and the Reset Rate Notes, shall contain the Ending Balance Factor and the Indenture Trustee contact's name and telephone number, shall be sent by facsimile (or such other method designated by the Securities Depository) to the Securities Depository's Dividend Department at (212) 855-4555.
In addition, preferably five, but not less than two Business Days prior to each Quarterly Distribution Date, the Indenture Trustee shall send the Securities Depository written notice with respect to the dollar amount per $1,000 original principal amount of the Class of the LIBOR Rate Notes or Reset Rate Notes that the Indenture Trustee will be paying to the Securities Depository on the Quarterly Distribution Date.
Interest payable on the LIBOR Rate Notes shall be computed on the assumption that each year contains 360 days and actual days elapsed and rounding the resultant figure to the fifth decimal place.
The LIBOR Rate Notes shall be in substantially the form set forth in Exhibit A hereto, each with such variations, omissions and insertions as may be necessary.
Second, to redeem each series of Series 2005-1 LIBOR Rate Notes up to the amount needed to reduce their outstanding Principal Amount to their Targeted Balance listed on Schedule I hereto for that Quarterly Distribution Date.