Variable Rate Security definition
Variable Rate Security means any security or other instrument that is convertible into or exercisable or exchangeable for Common Stock at a fluctuating conversion or exercise price or exchange ratio.
Variable Rate Security means any Parity Security that bears interest at a rate that is subject to change prior to the maturity of such security to one or more other interest rates that cannot be determined in advance.
Variable Rate Security means a security the terms of which provide for the adjustment of its interest rate on set dates (such as the last day of a month or calendar quarter) and that, upon each adjustment until the final maturity of the instrument or the period remaining until the final maturity of the instrument or the period remaining until the principal amount can be recovered through demand, can reasonably be expected to have a market value that approximates its amortized cost.
Examples of Variable Rate Security in a sentence
The Record Date with respect to any Interest Payment Date for a Variable Rate Security shall be the date 15 calendar days (whether or not a business day) preceding such Interest Payment Date.
During the period beginning on the Execution Date and ending on the Termination Date, the Company will not, nor will it permit any of the Subsidiaries to, issue any Variable Rate Security, or any instrument, right or security convertible, exchangeable or exercisable into any such security.
More Definitions of Variable Rate Security
Variable Rate Security or “Variable Rate Note”) means a security the terms of which provide for the adjustment of its interest rate on set dates (such as the last day of a month or calendar quarter) and that, upon each adjustment until the final maturity of the instrument or the period remaining until the principal amount can be recovered through demand, can reasonably be expected to have a market value that approximates its amortized cost.
Variable Rate Security means a security which provides for the adjustment of its interest rate on set dates and which, upon each such adjustment until the final maturity of the security or the period remaining until the principal amount can be recovered through demand, can reasonably be expected to have a market value that approximates its amortized cost.
Variable Rate Security. 4(d)(ii)(B) “Warrant Shares’ Preamble