Term Rate Bonds definition
Examples of Term Rate Bonds in a sentence
Except as otherwise provided herein, notice of redemption shall be given by mail by the Trustee to the Remarketing Agent, the Paying Agent, the Owners of any Bonds designated for redemption in whole or in part and to the Securities Depository no less than fifteen (15) nor more than thirty (30) days (or thirty (30) days and forty-five (45) days, respectively, in the case of Term Rate Bonds or Fixed Rate Bonds) prior to the Redemption Date.
Interest rates will be determined as follows for Variable Rate Bonds, Term Rate Bonds and Credit Provider Bonds.
The Tender Agent shall give notice of such mandatory purchase by mail to the Owners of the Bonds subject to mandatory purchase no less than fifteen (15) days (or thirty (30) days in the case of Term Rate Bonds) prior to the Mandatory Purchase Date.
Not later than 12:00 Noon, New York City time, on the third Business Day preceding any such Mandatory Purchase Date, the Borrower shall deposit with the Trustee an amount of money sufficient to pay the aggregate tender price, including accrued and unpaid interest to such Mandatory Purchase Date, of all the Term Rate Bonds or portions thereof subject to purchase on such Mandatory Purchase Date.
The Board may assign different Flexible Term Rate Periods to different Flexible Term Rate Bonds.