Variable rate obligation definition

Variable rate obligation means a municipal obligation which bears interest at a variable rate.
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Variable rate obligation means as of any date of determination any Parity Obligation with respect to which the interest rate borne thereby may vary during any part of its remaining term.
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Variable rate obligation means an Obligation, including Bonds, with respect to which the interest rate varies or may be adjusted by the County from time to time.
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Examples of Variable rate obligation in a sentence

  • A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at anagreed-upon future settlement date.to 05/31/2029 to 05/15/20329,181,000 4,873,0009,017,061 4,829,2131.1% 0.6%(A) Security purchased or sold on a when-issued or delayed delivery3.250%, 06/30/2027 basis.to 06/30/20297,994,0008,081,7531.0%(B) Variable rate obligation.


More Definitions of Variable rate obligation

Variable rate obligation means any Bonds or Parity Obligations that are not Fixed Rate Obligations.
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Variable rate obligation means any Obligation, including, without limitation, an auction rate Obligation, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed for the entire term of such Obligation. The interest rate payable with respect to a Variable Rate Obligation may be determined under a remarketing arrangement, with or without reference to an index, through an auction procedure, or by any other procedure determined by Ordinance; provided that the Ordinance shall in any event establish the maximum rate which may be payable with respect to such Variable Rate Obligation.
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Variable rate obligation means any obligation the Yield on which, under the terms of the obligation, is adjusted periodically according to a prescribed formula such that the Yield over the term of the obligation cannot be determined on the date of original issuance.
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Related to Variable rate obligation

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.