Purchased Bond Rate definition

Purchased Bond Rate means the rate per annum specified in a Reimbursement Agreement and calculated from time to time by the Liquidity Facility Provider. Interest at the Purchased Bond Rate shall be calculated on the basis of a 360-day year of twelve 30-day months.
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Purchased Bond Rate means the rate at which a Purchased Bond bears interest in accordance with a Liquidity Facility; provided, however, that in no event shall such rate exceed the Maximum Rate applicable thereto;
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Purchased Bond Rate means the interest rate applicable from time to time to Purchased Bonds as determined in accordance with Section 204(i) of the First Supplemental Indenture and as specified in Section 3.01 of this Agreement. The Purchased Bond Rate is defined as the “Bank Bond Rate” in the First Supplemental Indenture.
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Examples of Purchased Bond Rate in a sentence

  • FINANCIAL AND CAPITAL RISK MANAGEMENT (Continued)The Board of Directors has overall responsibility for the determination of the Company’s risk management objectives and policies.

  • Interest on the Purchased Bonds shall be payable at the Purchased Bond Rate.

  • Notwithstanding anything herein to the contrary, only the Liquidity Facility Provider, its designee or nominee, or any Holder to whom a Liquidity Facility Provider has sold Purchased Bonds pursuant to the Reimbursement Agreement may receive interest on any Bonds at the Purchased Bond Rate.

  • For so long as a Bond remains a Purchased Bond, interest thereon at the Purchased Bond Rate as adjusted pursuant to this Section 3.01(c) shall be insured by the Bond Insurance Policy.

  • By 2:30 p.m., New York City time, on such sale date, the Trustee shall pay to the Paying Agent for the account of the Liquidity Facility Provider, from amounts on deposit in the Debt Service Fund, by wire transfer in immediately available funds, an amount of accrued interest on such Bonds equal to the difference between the amount of accrued interest to be paid by the purchaser of such Bonds and the amount of accrued interest due and owing on such Purchased Bonds at the Purchased Bond Rate.

  • Upon the occurrence of an Event of Default under the Liquidity Facility, the Liquidity Provider may deliver a notice (a “Default Rate Notice”) to the City for purposes of increasing the Purchased Bond Rate payable on the Bonds or take any other actions permitted by applicable law.

  • After any sale of Purchased Bonds by the Remarketing Agent pursuant to Section 2.04(b) hereof, or any election to retain Bonds pursuant to Section 2.04(c) hereof, Purchased Bonds shall from such Sale Date or upon such election cease to bear interest at the Purchased Bond Rate and shall bear interest at the rate determined by the Remarketing Agent in accordance with the Indenture.

  • As provided in the Bonds and the Indenture, any Bond purchased by the Bank pursuant to this Agreement shall thereupon become a Purchased Bond and shall bear interest at the Purchased Bond Rate for the period commencing from the date that the Bank shall have purchased such Bond and continuing until such Purchased Bond is paid in full, remarketed as provided in Section 2.04(b), or retained by the Purchased Bondholder as provided in Section 2.04(c).

  • The Bank will, upon the request of the Authority or the Tender Agent, notify the Authority or the Tender Agent, as the case may be, of the Purchased Bond Rate in effect during any period in which Purchased Bonds are held by the Bank or any other Purchased Bondholders or during which any Differential Interest Amount, Excess Bond Interest, Excess Bond Interest Amount, Final Excess Bond Interest Amount or any amount in respect of the Interest Component remains unpaid.

  • After any sale of Purchased Bonds by the Remarketing Agent pursuant to Section 2.04(b), or any election to retain Bonds pursuant to Section 2.04(c), Purchased Bonds, from such Sale Date or upon such election, shall cease to bear interest at the Purchased Bond Rate and shall bear interest at the rate determined by the Remarketing Agent in accordance with the Indenture.


More Definitions of Purchased Bond Rate

Purchased Bond Rate means the rate per annum borne by the Purchased Bonds, determined in the Reimbursement Agreement.
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Purchased Bond Rate means the interest rate applicable from time to time to Purchased Bonds as determined in accordance with Section 2.2 of the Supplemental Resolution and as specified in Section 3.01 of this Agreement. The Purchased Bond Rate is defined as the “Bank Interest Rate” in the Supplemental Resolution. “Purchased Bondholder” means the Bank (in its capacity as owner (which shall include beneficial owner if the Bonds are Book-Entry Bonds) of Purchased Bonds pursuant to this Agreement) and any Assignee and other Person to whom the Bank has sold Purchased Bonds or beneficial interests therein pursuant to Section 2.04(a) hereof.
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Purchased Bond Rate means the Bank Rate and the Term Loan Rate, as applicable.
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Related to Purchased Bond Rate

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Bond Interest Rate means, with respect to any Tranche of Securitization Bonds, the rate at which interest accrues on the Securitization Bonds of such Tranche, as specified in the Series Supplement.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Simple Interest Mortgage Loan Those simple interest loans as noted on the Mortgage Loan Schedule under the data field designated “DSI.”

  • Assumed Interest Rate means the annual yield payable on the last day of the applicable Calculation Period on ten (10) year United States Treasury obligations in amounts approximating the outstanding principal balance of the Loan on the last day of the Calculation Period plus two hundred fifty (250) basis points per annum; provided, however, that the Assumed Interest Rate shall be not less than six percent (6.0%) per annum.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Capped Interest Rate is defined in the Note, if applicable.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Note Interest Rate means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of The New York Times preceding the Executive’s separation from service.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Class A-1 Note Interest Rate means a rate per annum equal to 0.64000%.

  • Current Interest Bonds means Bonds of a Series the interest on which is payable at least annually.

  • Adjusted Net Mortgage Interest Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Interest Rate less the Expense Fee Rate.

  • Floating Interest Rate means: (a) initially Three-Month Term SOFR (as defined below). (b) Notwithstanding the foregoing clause (i) of this Section 2(b): (i) If the Calculation Agent, determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Holders and Section 2(c) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period. (ii) However, if the Calculation Agent, determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent (as defined below). (iii) If the then-current Benchmark is Three-Month Term SOFR and any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Interest Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Company, then the relevant Three-Month Term SOFR Conventions will apply.

  • Series 2021 Bonds means, collectively, the Series 2021A Bonds and the Series 2021B Bonds.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.