Examples of Variable Interest Rate Period in a sentence
On any Business Day during a Variable Interest Rate Period and on any Conversion Date, the Bonds may be redeemed by the Trustee, at the option of the Authority upon Request of an Authorized Representative of the Borrower as provided in Section 7.5 of the Agreement, in whole or in part, at a redemption price of 100% of the principal amount thereof, without premium, plus accrued interest to the date of redemption.
During a Variable Interest Rate Period, SIFMA Index Interest Rate Period or a Term Interest Rate Period of six calendar months or less, interest on the Bonds shall be computed upon the basis of a 365‑day year or 366-day year, as applicable, for the number of days actually elapsed.
The Trustee shall give notice, prepared by and at the cost and expense of the Company, by mail of an adjustment to a Variable Interest Rate Period to the Bondholders, the Credit Provider, if any, the Remarketing Agent and the Company not less than fifteen (15) days prior to the Conversion Date of such Variable Interest Rate Period.
On any Business Day during a Variable Interest Rate Period and on the Conversion Date, the Bonds may be redeemed by the Trustee, at the option of the Authority upon direction of the Company as provided in Section 8.5 of the Agreement, in whole or in part, at a redemption price, paid pursuant to Section 5.3 hereof, of 100% of the principal amount thereof, without premium, plus accrued interest to the date of redemption.
During a Variable Interest Rate Period or a Term Interest Rate Period of six calendar months or less, interest on the Bonds shall be computed upon the basis of a 365‑day year or 366‑day year, as applicable, for the number of days actually elapsed.