Multiannual Rate definition

Multiannual Rate means the rate of interest that is set on Bonds while they are in the Multiannual Mode.
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Multiannual Rate means the interest rate to be determined for the Bonds for a term of one or more years pursuant to Section 3.2 hereof.
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Multiannual Rate means the rate of interest borne by a Bond while it is in the Multiannual Mode.
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Examples of Multiannual Rate in a sentence

  • The Company further represents to Seaside that the Company’s decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions contemplated hereby and thereby by the Company and its representatives.

  • All Bonds accruing interest at a Multiannual Rate shall be in denominations of $5,000 and whole multiples thereof.

  • Bonds to be converted from one Rate Period to a different Rate Period (except conversions from the Daily Rate to the Weekly Rate or from the Weekly Rate to the Daily Rate) or from a Multiannual Rate Period to a Multiannual Rate Period of different duration are subject to mandatory tender for purchase on the Conversion Date at the Purchase Price.

  • This Bond is also subject to mandatory tender on the effective date of a change from one Rate Period to a different Rate Period (except for changes between a Daily Rate and Weekly Rate) or a change from a Multiannual Rate Period to a Multiannual Rate Period of different duration at the Purchase Price.

  • Written Notice of Mandatory Tender The Trustee shall give notice, by first class mail, to the Registered Owners of the mandatory tender of Bonds accruing interest at a Multiannual Rate not less than 30 days before the tender date.

  • While this Bond accrues interest at a Multiannual Rate, this Bond is subject to mandatory tender for purchase on the Interest Payment Date following the end of each Multiannual Rate Period at a Purchase Price equal to 100% of the principal amount thereof.

  • The Regular Record Date for any Interest Payment Date shall be the close of business on the day (whether or not a Business Day) immediately preceding an Interest Payment Date, except that, while this Bond accrues interest at a Multiannual Rate (as described herein), the Regular Record Date shall be the close of business on the 15th day (whether or not a Business Day) of the calendar month immediately preceding such Interest Payment Date.

  • The Trustee shall give notice by first class mail, of the proposed conversion to the Registered Owners of Bonds accruing interest at Commercial Paper, Daily or Weekly Rates not less than 15 days before the proposed Conversion Date and to Registered Owners of Bonds accruing interest at a Multiannual Rate not less than 30 days before the proposed Conversion Date (other than a conversion pursuant to Section 3.2(a)(ii)(4) of this Indenture).

  • The amount of interest so payable on any Interest Payment Date shall be computed (A) on the basis of a 365- or 366-day year, as appropriate, for the actual number of days elapsed during Daily Rate Periods, Commercial Paper Rate Periods or Weekly Rate Periods, and (B) on the basis of a 360-day year of twelve 30-day months during Multiannual Rate Periods.

  • Interest on the Bonds The Bonds shall initially accrue interest at the Multiannual Rate herein described, and will be subject to conversion as herein provided.


More Definitions of Multiannual Rate

Multiannual Rate means the interest rate to be determined for the Bonds for a term of not less than 365 days pursuant to Section 3.2 hereof.
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Multiannual Rate means the interest rate to be determined for all or a portion of a series of the Bonds for a tenn of one or more years pursuant to Section 3.02( e) hereof.
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Related to Multiannual Rate

  • ANNUAL RATE ADJUST: MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE : LIFETIME RATE : 8.00000 MATURITY DATE : 01/01/27 CURRENT INT RATE: 8.00000 PRODUCT CODE : 002 LTV : 80.00000 ------------------------------------------------------------------ 0 0030726640 MORTGAGORS: TERRY THOMAS XXXXX DENISE REGION CODE XXXXXXX : 0 XXXXXXXX XXXX 01 CITY : AUSTIN STATE/ZIP : TX 78738 MORTGAGE AMOUNT : 000,050.00 OPTION TO CONVERT : UNPAID BALANCE : 264,872.15 ANNUAL RATE ADJUST: MONTHLY P&I : 1,944.85 OUTSIDE CONV DATE : LIFETIME RATE : 8.00000 MATURITY DATE : 01/01/27 CURRENT INT RATE: 8.00000 PRODUCT CODE : 002 LTV : 90.00000 ------------------------------------------------------------------ 0 0030726665 MORTGAGORS: FUSCO ARTHUR XXXXX JOELLEN REGION CODE XXXXXXX : 0000 XXXXXXXXXXX AVENUE 01 XXXX : XXX XXXXS STATE/ZIP : NV 89117 MORTGAGE AMOUNT : 000,000.00 OPTION TO CONVERT : UNPAID BALANCE : 349,398.20 ANNUAL RATE ADJUST: MONTHLY P&I : 2,629.43 OUTSIDE CONV DATE : LIFETIME RATE : 8.25000 MATURITY DATE : 12/01/26 CURRENT INT RATE: 8.25000 PRODUCT CODE : 002 LTV : 83.33300 ------------------------------------------------------------------ - **** PAGE TOTALS ***** NUM OF LOANS: 5 LOAN AMT: 1,399,950.00 P & I AMT: 10,333.61 UPB AMT: 1,398,004.37

  • Final rate means an indirect cost rate applicable to a specified past period which is based on the actual allowable costs of the period. A final audited rate is not subject to adjustment.

  • Initial Rate means each rate of interest to be paid in an Initial Period as set forth in the Certificate.

  • additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

  • Five-year U.S. Treasury Rate means, as of any Reset Dividend Determination Date, as applicable, (i) an interest rate (expressed as a decimal) determined to be the per annum rate equal to the weekly average yield to maturity for U.S. Treasury securities with a maturity of five years from the next Reset Date and trading in the public securities markets or (ii) if there is no such published U.S. Treasury security with a maturity of five years from the next Reset Date and trading in the public securities markets, then the rate will be determined by interpolation between the most recent weekly average yield to maturity for two series of U.S. Treasury securities trading in the public securities market, (A) one maturing as close as possible to, but earlier than, the Reset Date following the next succeeding Reset Dividend Determination Date, and (B) the other maturity as close as possible to, but later than, the Reset Date following the next succeeding Reset Dividend Determination Date, in each case as published in the most recent H.15 (519). If the Five-year U.S. Treasury Rate cannot be determined pursuant to the methods described in clause (i) or (ii) above, then the Five-year U.S. Treasury Rate will be the same interest rate determined for the prior Reset Dividend Determination Date.

  • Annual Revenue Rate means the rate employed to assess a compliance penalty charge on a Curtailment Service Provider under Tariff, Attachment DD, section 11.

  • Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.

  • Five-Year Treasury Rate means, as of any Reset Interest Determination Date, the average of the yields on actively traded U.S. Treasury securities adjusted to constant maturity, for five-year maturities, for the most recent five Business Days appearing under the caption “Treasury Constant Maturities” in the Most Recent H.15. If the Five-year Treasury Rate cannot be determined pursuant to the preceding sentence, the Calculation Agent, after consulting such sources as it deems comparable to any of the foregoing calculations, or any such source as it deems reasonable from which to estimate the Five-year Treasury Rate, will determine the Five-year Treasury Rate in its sole discretion, provided that if the Calculation Agent determines there is an industry-accepted successor Five-year Treasury Rate, then the Calculation Agent will use such successor rate. If the Calculation Agent has determined a substitute or successor base rate in accordance with the foregoing, the Calculation Agent in its sole discretion may determine the Business Day convention, the definition of Business Day and the Reset Interest Determination Date to be used and any other relevant methodology for calculating such substitute or successor base rate, including any adjustment factor needed to make such substitute or successor base rate comparable to the Five-year Treasury Rate, in a manner that is consistent with industry-accepted practices for such substitute or successor base rate.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Six-Month LIBOR The average of interbank offered rates for six-month U.S. dollar deposits in the London market based on quotations of major banks.

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place:

  • Term Rate means the per annum interest rate with respect to Bonds in the Term Rate Mode determined pursuant to Section 2.09.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • Compounded Daily XXXXX means the rate of return of a daily compound interest investment (with the daily Sterling overnight reference rate as reference rate for the calculation of interest) and will be calculated by the Interest Determination Agent as at the Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 being rounded upwards: where:

  • Three-Month LIBOR means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on Reuters Screen LIBOR01 Page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on April 30, 2018, 2.920%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.

  • Per Annum means for a year deemed to be comprised of 360 days.

  • Annual Percentage Rate or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

  • Net Rate With respect to each Mortgage Loan, the Mortgage Interest Rate in effect from time to time less the Aggregate Expense Rate (expressed as a per annum rate).

  • Daily One Month LIBOR means, for any day, the rate of interest equal to LIBOR then in effect for delivery for a one (1) month period.

  • Semi-Annual Period means each period of six-months, commencing on the first day of a Fiscal Year; provided that the first such period shall begin on July 1, 2013 and end on December 31, 2013.

  • Initial Rate Period means, with respect to the VMTP Shares of any Series, the period commencing on and including the Date of Original Issue thereof and ending on, and including, the next succeeding calendar day that is a Wednesday (or if such Wednesday is not a Business Day, the next succeeding Business Day).

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.

  • Rental Rate means the average annualized composite rate for United States treasury bonds issued for periods of ten years and longer plus two percent. The rental rate shall not exceed ten and three-quarters percent nor fall below eight and one-quarter percent.

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.