Reset Cap definition

Reset Cap as of any Remarketing Settlement Date, means the prevailing market yield, as determined by the Remarketing Agent, of the benchmark U.S. treasury security having a remaining maturity that most closely corresponds to the period from such date until the Scheduled Redemption Date (after giving effect to any change in the Scheduled Redemption Date being made pursuant to Article X on the Remarketing Settlement Date if the Remarketing is Successful), plus 350 basis points per annum.
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Reset Cap means a rate per annum equal to the sum of (1) the prevailing market yield per annum, as determined by the Remarketing Agent, of the benchmark U.S. Treasury Security having a remaining maturity that most closely corresponds to the remaining maturity of the applicable tranche of Component Notes; and (2) 750 basis points.
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Reset Cap has the meaning set forth in the Trust Agreement.
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Examples of Reset Cap in a sentence

  • The Fixed Rate Reset Cap will be the prevailing market yield, as determined by the Remarketing Agent, of the benchmark U.S. treasury security having a remaining maturity that most closely corresponds to the period from such date until the earliest date on which the Junior Subordinated Notes may be redeemed at GS Group’s option in the event of a successful Remarketing, plus 350 basis points, or 3.500% per annum, and the Floating Rate Reset Cap will be 300 basis points, or 3.000% per annum.

  • The Reset Cap referred to in Section 10.3(a)(i) of the Trust Agreement shall not apply in connection with the First Applicable Remarketing Settlement Date.

  • In the event the Company is prohibited from issuing the full amount of the Additional Shares as a result of the operation of Section 2.3.11, the Company shall refund to the Subscriber a dollar amount (the "Reset Cap Refund Amount") equal to the product of (a) the difference of (i) the number of Additional Shares required to be issued by the Company, minus (ii) the number of the Cap Limit Shares, times (b) the applicable Put Reset Price.

  • On or before the third (3rd) Business Day following the date that such Additional Shares were required to be issued, the Company shall deliver to the Subscriber Unlegended Share Certificates representing the Cap Limit Shares registered in the name of Subscriber or its nominee (as instructed by Subscriber) and free of restrictive legends and the Reset Cap Refund Amount.

  • The Fixed Rate Reset Cap will be the prevailing market yield, as determined by the Remarketing Agent, of the benchmark U.S. treasury security having a remaining maturity that most closely corresponds to the period from such date until the earliest date on which the Junior Subordinated Notes may be redeemed at Mellon’s option in the event of a successful Remarketing, plus 350 basis points, or 3.50% per annum, and the Floating Rate Reset Cap will be 300 basis points, or 3.00% per annum.