Common use of Term Rates Clause in Contracts

Term Rates. (i) Except as provided in paragraph (iii) of this Section 2.9(a), once the 2018A-2 Bonds are changed to the Term Rate Mode, such 2018A-2 Bonds shall continue in the Term Rate Mode until changed to another Mode in accordance with Section 2.8 hereof. The Term Rate shall be determined by the Remarketing Agent not later than 4:00 p.m., New York City time, on the Rate Determination Date, and the Remarketing Agent shall make the Term Rate available by telephone to any Notice Party requesting such rate. The Remarketing Agent shall give written notice of the Term Rate to the Authority and the Paying Agent upon request. The Term Rate shall be the minimum rate which, in the sole judgment of the Remarketing Agent, will result in a sale of 2018A-2 Bonds at a price equal to the principal amount thereof on the Rate Determination Date for the Interest Period selected by the Authority. If a new Interest Period is not selected by the Authority prior to the Business Day next preceding the Purchase Date for the Interest Period then in effect, the new Interest Period shall be the same length as the current Interest Period. No Interest Period in the Term Rate Mode may extend beyond the Maturity Date.

Term Rates. (i) Except as provided in paragraph (iii) of this Section 2.9(a2.8(a), once the 2018A-2 2017 Series B-1 Bonds are changed to the Term Rate Mode, such 2018A-2 Bonds shall continue in the Term Rate Mode until changed to another Mode in accordance with Section 2.8 hereof2.10 of this Series Indenture. The Term Rate shall be determined by the Remarketing Agent not later than 4:00 p.m., New York City time, on the Rate Determination Date, and the Remarketing Agent shall make the Term Rate available by telephone to any Notice Party requesting such rate. The Remarketing Agent shall give written notice of the Term Rate to the Authority and the Paying Agent upon requestAgent. The Term Rate shall be the minimum rate which, in the sole judgment of the Remarketing Agent, will result in a sale of 2018A-2 such 2017 Series B-1 Bonds at a price equal to the principal amount thereof on the Rate Determination Date for the Interest Period selected by the Authority. If a new Interest Period is not selected by the Authority prior to the Business Day next preceding the Purchase Date for the Interest Period then in effect, the new Interest Period shall be the same length as the current Interest PeriodPeriod (or such lesser period as shall be necessary to comply with paragraph (ii) of this Section 2.8(a)). No Interest Period in the Term Rate Mode may extend beyond the Maturity DateDate of the 2017 Series B-1 Bonds.

Term Rates. (i) Except as provided in paragraph (iii) of this Section 2.9(a2.8(a), once the 2018A-2 2023 Series N-2 Bonds are changed to the Term Rate Mode, such 2018A-2 Bonds shall continue in the Term Rate Mode until changed to another Mode in accordance with Section 2.8 hereof2.10 of this Series Indenture. The Term Rate shall be determined by the Remarketing Agent not later than 4:00 p.m., New York City time, on the Rate Determination Date, and the Remarketing Agent shall make the Term Rate available by telephone to any Notice Party requesting such rate. The Remarketing Agent shall give written notice of the Term Rate to the Authority and the Paying Agent upon requestAgent. The Term Rate shall be the minimum rate which, in the sole judgment of the Remarketing Agent, will result in a sale of 2018A-2 such 2023 Series N-2 Bonds at a price equal to the principal amount thereof on the Rate Determination Date for the Interest Period selected by the Authority. If a new Interest Period is not selected by the Authority prior to the Business Day next preceding the Purchase Date for the Interest Period then in effect, the new Interest Period shall be the same length as the current Interest PeriodPeriod (or such lesser period as shall be necessary to comply with paragraph (ii) of this Section 2.8(a)). No Interest Period in the Term Rate Mode may extend beyond the Maturity DateDate of the 2023 Series N-2 Bonds.

Term Rates. (i) Except as provided in paragraph (iii) of this Section 2.9(a), once the 2018A-2 2020D-2 Bonds are changed to the Term Rate Mode, such 2018A-2 2020D-2 Bonds shall continue in the Term Rate Mode until changed to another Mode in accordance with Section 2.8 hereof. The Term Rate shall be determined by the Remarketing Agent not later than 4:00 p.m., New York City time, on the Rate Determination Date, and the Remarketing Agent shall make the Term Rate available by telephone to any Notice Party requesting such rate. The Remarketing Agent shall give written notice of the Term Rate to the Authority and the Paying Agent upon request. The Term Rate shall be the minimum rate which, in the sole judgment of the Remarketing Agent, will result in a sale of 2018A-2 2020D-2 Bonds at a price equal to the principal amount thereof on the Rate Determination Date for the Interest Period selected by the Authority. If a new Interest Period is not selected by the Authority prior to the Business Day next preceding the Purchase Date for the Interest Period then in effect, the new Interest Period shall be the same length as the current Interest Period. No Interest Period in the Term Rate Mode may extend beyond the Maturity Date.

Term Rates. (i) Except as provided in paragraph (iii) of this Section 2.9(a), once the 2018A-2 2019C Bonds are changed to the Term Rate Mode, such 2018A-2 2019C Bonds shall continue in the Term Rate Mode until changed to another Mode in accordance with Section 2.8 hereof. The Term Rate shall be determined by the Remarketing Agent not later than 4:00 p.m., New York City time, on the Rate Determination Date, and the Remarketing Agent shall make the Term Rate available by telephone to any Notice Party requesting such rate. The Remarketing Agent shall give written notice of the Term Rate to the Authority and the Paying Agent upon request. The Term Rate shall be the minimum rate which, in the sole judgment of the Remarketing Agent, will result in a sale of 2018A-2 2019C Bonds at a price equal to the principal amount thereof on the Rate Determination Date for the Interest Period selected by the Authority. If a new Interest Period is not selected by the Authority prior to the Business Day next preceding the Purchase Date for the Interest Period then in effect, the new Interest Period shall be the same length as the current Interest Period. No Interest Period in the Term Rate Mode may extend beyond the Maturity Date.