Rate Adjustment means each of the events giving rise to an adjustment to the Rate of Interest payable on the Notes as described in (i)(A) and (i)(B) above.
Rate Adjustment means a change in an existing Rate or Rates, or the establishment of a Rate or Rates for a new service. It does not include a change in Rate Schedule provisions or in contract terms, other than changes in the price per unit of service, nor does it include changes in the monetary charge pursuant to a formula stated in a Rate Schedule or a contract.
Rate Adjustment means a rate increase or decrease to adjust for cost changes not reflected in the historical period;
Examples of Rate Adjustment in a sentence
For Step Two of each subsequent rate adjustment, use the “Cost Components Reweighted to Equal 100%” in Column “O” of “Exhibit G-1 – Example Rate Adjustment Formula” in Step Four during the previous rate adjustment.
See “Exhibit G-5 – Example Rate Adjustment Formula” for an example calculation of the average annual change in an index.
See “Exhibits G-1, G-2 and G-3 - Example Rate Adjustment Formula” for an example of rate adjustment calculations.
Any Successor Rate, Alternative Rate, Adjustment Spread and the specific terms of any Benchmark Amendments, determined under this Condition 4.6 will be notified promptly by the Issuer to the Agent, or if applicable, Calculation Agent, the Paying Agents and, in accordance with Condition 13 (Notices), the Noteholders.
The Issuer shall notify the Principal Paying Agent, the party responsible for determining the Rate of Interest (as specified in the applicable Final Terms), the Paying Agents and, in accordance with Condition 13, the Noteholders, promptly of any Successor Rate, Alternative Rate, Adjustment Spread and the specific terms of any Benchmark Amendments, determined under this Condition 4(e).
More Definitions of Rate Adjustment
Rate Adjustment means, an adjustment which may be zero or a positive or negative value, and:
Rate Adjustment means, with respect to any Index Transition for any applicable Pricing Rate Period and Available Tenor, an adjustment which may be zero (0) or a positive or negative value, and which adjustment shall be the first alternative set forth in the order below:
Rate Adjustment means in the event that the rates in effect on the date of this Agreement for residential and business customers of the Business are (a) decreased, (b) neither increased nor decreased, or (c) increased by less than 10%, in each case, on a consolidated basis based on local revenue requirements, pursuant to a Final Order by the PSC with respect to the Rate Case, then an amount calculated in accordance with Schedule 1.C.
Rate Adjustment. The interest rate payable on the Notes will be subject to adjustment based on certain rating events as described under the caption “Description of notes—Interest—Interest rate adjustment of the notes based on certain rating events” in the Preliminary Prospectus Supplement dated June 13, 2024. Public Offering Price: 98.993% of the principal amount Yield to Maturity: 7.114% Spread to Benchmark Treasury: T+287.5 bps Benchmark Treasury: 4.500% due May 31, 2029 Benchmark Treasury Price and Yield: 101-05 / 4.239% Expected Ratings (Moody’s/S&P)*: [Reserved] / [Reserved] Interest Payment Dates: January 15 and July 15 commencing January 15, 2025 Annex D–Page 1 Optional redemption: Make-Whole Call: Prior to June 15, 2029, based on the Treasury Rate (as defined in the preliminary prospectus supplement) plus 45 basis points Par Call: On or after June 15, 2029 (one month prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the applicable redemption date Trade date: June 13, 2024 Settlement date: June 25, 2024 (T+7). Under Rule 15c6-1 under the Securities Exchange Act of 1934, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the first business day preceding the closing date of this offering will be required, by virtue of the fact that the notes initially settle in T+7, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the additional notes who wish to trade the additional notes prior to the first business day preceding the closing date of this offering should consult their advisors. CUSIP: 720198 AJ9 ISIN: US720198AJ95 Denominations/Multiple: $2,000 and integral multiples of $1,000 in excess thereof. Joint Book-Running Managers: BofA Securities, Inc. Xxxxx Fargo Securities, LLC X.X. Xxxxxx Securities LLC Truist Securities, Inc. Xxxxxx Xxxxxxx & Co. LLC TD Securities (USA) LLC Annex D–Page 2 U.S. Bancorp Investments, Inc. Co-Managers: PNC Capital Markets LLC Scotia Capital (USA) Inc. Xxxxxx X. Xxxxxxx & Company, Inc. * A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. The issuer has filed a registration statement (including a prospectus...
Rate Adjustment means the change in rates resulting from an annual formula rate review under the FRRA as reflected in Attachment A-1 to the Evaluation Report.
Rate Adjustment. The effective Loan Rate will remain fixed for the duration of each Term. Prior to Schedule funding, Lender will adjust the Loan Rate in order to maintain its originally anticipated rate of return if there is a change in the yield on the U.S. Treasury Bills, as quoted in the Federal Reserve statistical release H.15 (519), from the Index Basis specified in this proposal letter, by the amount of such change.
Rate Adjustment means in the event that the rates in effect on the date of this Agreement for residential and business customers of the Business are (a) decreased,