Variable Interest Rate Bonds for any period of time means Parity Bonds
Variable Interest Rate Bonds for any period means bonds which during such period bear a Variable Interest Rate, provided that Bonds the interest rate on which shall have been fixed for the remainder of the term thereof shall no longer be Variable Interest Rate Bonds.
Variable Interest Rate Bonds means Permitted Debt which bears a Variable Interest Rate but does not include any Permitted Debt for which the interest rate has been fixed during the remainder of the term thereof to maturity; provided, however, that Permitted Debt bearing a Variable Interest Rate shall not be deemed Variable Interest Rate Bonds if (a) the Issuer or the Borrower has entered into a Qualified Hedge with respect to such Permitted Debt during the period for which such Qualified Hedge is in effect, or (b) such Permitted Debt constitutes Floater/Inverse Floater Debt; provided, further, that Permitted Debt bearing a fixed rate of interest shall be deemed Variable Interest Rate Bonds to the extent that the Issuer or the Borrower has entered into a Qualified Hedge pursuant to which the Borrower or Issuer is obligated to pay a floating rate of interest and receives a fixed rate of interest and shall be deemed to bear interest at the lesser of the rate determined pursuant to clause (a) of the definition of the term Senior Debt Service or the maximum interest rate, if any, payable pursuant to such Qualified Hedge.]29
Examples of Variable Interest Rate Bonds in a sentence
The Bonds permitted to be issued under the Resolution include Capital Appreciation Bonds, Deferred Income Bonds, Option Bonds and Variable Interest Rate Bonds.
The Bonds permitted to be issued under the Resolution include, but are not limited to, Capital Appreciation Bonds, Deferred Income Bonds, Option Bonds and Variable Interest Rate Bonds.
Any such Variable Interest Rate Bond debt service reserve fund shall not secure Bonds other than the Variable Interest Rate Bonds for which it is established to secure, and no Variable Interest Rate Bond shall be secured by the Debt Service Reserve Fund established pursuant to the provisions summarized under this caption.
Although the City’s self-liquidity supported variable rate bonds may be payable upon demand (see the Variable Interest Rate Bonds section), the bonds are included in the below table per their respective redemption schedules.
The 2007A Bonds are comprised of Variable Interest Rate Bonds due 9/1/2038.
More Definitions of Variable Interest Rate Bonds
Variable Interest Rate Bonds means bands which bear a Variable Interest Rate (as defined in the Bond Resolution).
Variable Interest Rate Bonds means, for any period of time, any Parity Bonds that bear interest at a rate that is not fixed and is not specified in the applicable Parity Bond Authorizing Resolution.
Variable Interest Rate Bonds means Bonds which bear a variable interest rate but does not include any Bond which, during the remainder of the term thereof to maturity, bears interest at a fixed rate. The method of computing such variable interest rate shall be specified in the Series Resolution authorizing such Series of Bonds.
Variable Interest Rate Bonds means Bonds which bear a Variable Interest Rate; provided, that Bonds bearing a fixed rate of interest shall be deemed Variable Interest Rate Bonds if the Borrower enters into (or is to enter into) a Hedge Facility pursuant to which the Borrower is obligated to pay a floating rate of interest and receives a fixed rate of interest.
Variable Interest Rate Bonds means Bonds which bear a variable interest rate but does not include any Bond which, during the remainder of the term thereof to maturity, bears interest at a fixed rate; provided, however, that Bonds bearing a variable rate of interest shall not be deemed Variable Interest Rate Bonds if (A) the Authority has entered into a Qualified Fixed Payor Swap with respect to such Bonds (but only for so long as such Qualified Fixed Payor Swap meets all requirements of a “Qualified Fixed Payor Swap” as defined in Section 102 of the General Resolution) or (B) such Bonds constitute Floater/Inverse Floater Bonds; provided further that (1) Bonds bearing a fixed rate of interest shall be deemed Variable Interest Rate Bonds to the extent that the Authority has entered into a Qualified Fixed Receiver Swap and (2) the derivative rate of such arrangement shall be deemed to be the variable interest rate of such Bonds; provided further that for purposes of determining whether Bonds may be secured by any particular debt service reserve fund or of establishing the amount of any Debt Service Reserve Fund Requirement, (a) Bonds bearing a fixed rate of interest shall be deemed Variable Interest Rate Bonds only if and to the extent that the Authority has entered into a Qualified Fixed Receiver Swap at the time of initial issuance of the related Bonds and (b) otherwise such Bonds shall be treated as fixed rate Bonds without any effect being given to any Qualified Fixed Receiver Swap.
Variable Interest Rate Bonds means Permitted Debt which bears a Variable Interest Rate but does not include any Permitted Debt for which the interest rate has been fixed during the remainder of the term thereof to maturity; provided, however, that Permitted Debt bearing a Variable Interest Rate shall not be deemed Variable Interest Rate Bonds if the Borrower has entered into a Qualified Hedge with respect to such Permitted Debt during the period for which such Qualified Hedge is in effect; provided, further, that Permitted Debt bearing a fixed rate of interest shall be deemed Variable Interest Rate Bonds to the extent that the Borrower has entered into a Qualified Hedge pursuant to which the Borrower is obligated to pay a floating rate of interest and receives a fixed rate of interest and shall be deemed to bear interest at the lesser of the rate determined pursuant to clause (a) of the definition of the term Senior Debt Service or the maximum interest rate, if any, payable pursuant to such Qualified Hedge.
Variable Interest Rate Bonds means Permitted Debt which bears a Variable Interest Rate but does not include any Permitted Debt for which the interest rate has been fixed during the remainder of the term thereof to maturity; provided, however, that Permitted Debt bearing a Variable Interest Rate shall not be deemed Variable Interest Rate Bonds if the [Issuer or the] Borrower has entered into a Qualified Hedge with respect to such Permitted Debt during the period for which such Qualified Hedge is in effect; provided, further, that Permitted Debt bearing a fixed rate of interest shall be deemed Variable Interest Rate Bonds to the extent that the [Issuer or the] Borrower has entered into a Qualified Hedge pursuant to which the Borrower [or Issuer] is obligated to pay a floating rate of interest and receives a fixed rate of interest and shall be deemed to bear interest at the lesser of the rate determined pursuant to clause (a) of the definition of the term Senior Debt Service or the maximum interest rate, if any, payable pursuant to such Qualified Hedge.