Examples of Term Rate Mode in a sentence
No Interest Period in the Term Rate Mode may extend beyond the Maturity Date of the 2024 Series C-2 Bonds.
When a Term Rate Mode of one year or longer or a Fixed Rate Mode for 2024 Series C-2 Bonds is in effect, interest shall be calculated on the basis of a 360 day year comprised of twelve 30-day months.
If the failed change in Mode was from the Term Rate Mode and for which the Liquidity Facility was in effect for the 2024 Series C-2 Bond to be changed, the applicable 2024 Series C-2 Bond shall be changed to the Weekly Mode.
When a Daily Mode, a Weekly Mode or a Term Rate Mode of shorter than one year is in effect for 2024 Series C-2 Bonds, interest shall be Mode.
The New Mode for a 2024 Series C-2 Bond shall commence on the Mode Change Date for such Bond and the interest rate shall be determined by the Remarketing Agent (or the Authority in the case of the Interest Period for a 2024 Series C-2 Bond converted to the Term Rate Mode) in the manner provided in Sections 2.7 and 2.8 of this Series Indenture, as applicable.