Mode Period definition

Mode Period means each period (a) beginning on (i) initially the date of issuance of the 202_ Series - Bonds and (ii) for subsequent Mode Periods, on the first Effective Rate Date following a change from one Mode to another, and (b) ending on the date immediately preceding either the first Effective Rate Date following the next such change in Mode for such Variable Rate Bonds or the Conversion Date for such Variable Rate Bonds; except that the Mode Period for Bank Bonds shall begin on the date they become Bank Bonds and shall end on the date they are no longer Bank Bonds or on which they have been paid in full either at maturity or upon redemption.

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Mode Period means each period beginning on the first Effective Rate Date for any of the 2005 Series M Bonds, or the first Effective Rate Date following a change from one Mode to another (including a change from one Auction Mode Period to another Auction Mode Period of a different duration), and ending on the date immediately preceding the first Effective Rate Date following the next such change in Mode with respect to such 2005 Series M Bonds.

Mode Period means each period beginning on the first Effective Rate Date for any of the 2009 Series F Bonds, or the first Effective Rate Date following a change from one Mode to another, and ending on the date immediately preceding the first Effective Rate Date following the next such change in Mode with respect to such 2009 Series F Bonds.

Examples of Mode Period in a sentence

• The Mode Period on the Bonds from the Delivery Date shall be a Weekly Mode Period until further designated by the Authority pursuant to the Indenture.

• The Authority shall give written notice of an alternate Mode Period to the other Notice Parties and the Trustee shall give written notice of such Mode Change to the Owners, each in accordance with the provisions of the Mode Period Chart below; provided, however, that each Mode Change Date must be an Effective Rate Date for such alternate Mode Period.

• Thereafter, unless Conversion has occurred, the Authority may designate an alternate Mode Period with respect to any Bonds.

• Whenever the bonds are converted from another Interest Rate Mode to a Direct Purchase Mode or from one Direct Purchase Mode Period to another Direct Purchase Mode Period, the Purchaser Agent shall notify the Trustee in writing of the beginning and end of the Direct Purchase Rate Period, and the Trustee shall specify such dates on the certificate for such bond when authenticated.

• When a SAVRS Mode Period is in effect (other than a semiannual SAVRS Mode Period), interest shall be computed on the basis of a 360-day year for the number of days actually elapsed and, for each semiannual SAVRS Mode Period, on the basis of a 360-day year consisting of twelve 30-day months.

• Prior to Conversion, Owners of Bonds (other than SAVRS Rate Bonds) may elect to tender their Bonds, which, if so tendered upon proper notice to the Remarketing Agent or Tender Agent, as applicable, in the manner set forth in the Mode Period Chart, will be purchased on such next Effective Rate Date (or, in the case of Bonds in a Daily Mode or a Weekly Mode, on the purchase date specified in the Tender Notice) at the Purchase Price.

• The Bonds are in registered form without coupons and, prior to a Conversion Date, shall be issued in denominations of: (i) during a Daily Mode Period, a Weekly Mode Period, a Monthly Mode Period or a Quarterly Mode Period, $100,000 or integral multiples of $5,000 in excess of $100,000, (ii) during a SAVRS Mode Period, $25,000 or integral multiples of $5,000 in excess of $25,000, and (iii) during a Semiannual Mode Period or a Term Mode Period, $5,000 or any integral multiple thereof.

• Prior to Conversion, Owners of Adjustable Rate Bonds (other than SAVRS Rate Bonds) may elect to tender their Adjustable Rate Bonds, which, if so tendered upon proper notice to the Remarketing Agent or Tender Agent, as applicable, in the manner set forth in the Mode Period Chart, will be purchased on such next Effective Rate Date (or, in the case of Adjustable Rate Bonds in a Daily Mode or a Weekly Mode, on the purchase date specified in the Tender Notice) at the Purchase Price.

• No later than 11:00 a.m., New York City time, on the Rate Determination Date converting the Bonds to an FRN Rate Mode (or continuing the Bonds in an FRN Rate Mode following any FRN Rate Mode Termination Date) and on each Rate Determination Date occurring during the remainder of such FRN Rate Mode Period, the Remarketing Agent will determine, and is required to give Electronic Notice to the Trustee of, the FRN Rate in effect during each Interest Period occurring during such FRN Rate Mode Period.

• Such notice of tender for purchase of Bonds by the Owners thereof shall be in writing and shall be irrevocable once such notice is given to the Remarketing Agent or the Tender Agent, as directed in the Mode Period Chart.

More Definitions of Mode Period

Mode Period means each period beginning on the first Effective Rate Date for any of the Adjustable Rate Bonds, or the first Effective Rate Date following a change from one Mode to another, and ending on the date immediately preceding the first Effective Rate Date following the next such change in Mode with respect to such Adjustable Rate Bonds.