Applicable Benchmark Treasury definition

Applicable Benchmark Treasury on a particular determination date shall mean direct obligations of the United States (which may be obligations traded on a when-issued basis only) having a maturity comparable to the remaining term to maturity of the Debt Securities, which may be two years or between two and one half and two and one quarter years, as applicable, as agreed upon by the Company and the Reset Agent. The yield for the Applicable Benchmark Treasury will be the bid side yield displayed at 10:00 A.M., New York City time, on the third Business Day immediately preceding the applicable Reset Date in the Telerate system (or if the Telerate system is (a) no longer available on the third Business Day immediately preceding such Reset Date or (b) in the opinion of the Reset Agent (after consultation with the Company) no longer an appropriate system from which to obtain such yield, such other nationally recognized quotation system as, in the opinion of the Reset Agent (after consultation with the Company), is appropriate). If such yield is not so displayed, the yield for the Applicable Benchmark Treasury shall be, as calculated by the Reset Agent, the yield to maturity for the Applicable Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid rates, as of 10:30 A.M., New York City time, on the third Business Day immediately preceding the applicable Reset Date of three leading United States government securities dealers selected by the Reset Agent (after consultation with the Company) (which may include the Reset Agent or an affiliate thereof).

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Applicable Benchmark Treasury means direct obligations of the United States, which may be obligations traded on a when-issued basis only, having a maturity comparable to the remaining term to maturity of the Notes, as agreed upon by the Company and the Reset Agent. The rate for the Applicable Benchmark Treasury will be the bid side rate displayed at 10:00 A.M., New York City time, on the applicable Reset Date in the Telerate system (or if the Telerate system is no longer available on such Reset Date or in the opinion of the Reset Agent, after consultation with the Company, no longer an appropriate system from which to obtain such rate, such other nationally recognized quotation system as, in the opinion of the Reset Agent, after consultation with the Company, is appropriate). If such rate is not so displayed, the rate for the Applicable Benchmark Treasury shall be, as calculated by the Reset Agent, the yield to maturity for the Applicable Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid rates, as of 10:30 A.M., New York City time, on such Reset Date of three leading United States government securities dealers selected by the Reset Agent after consultation with the Company (which may include the Reset Agent or an Affiliate thereof).

Applicable Benchmark Treasury on a particular determination date shall mean __________________________________.

Examples of Applicable Benchmark Treasury in a sentence

On the Reset Announcement Date, the Reset Spread and the Applicable Benchmark Treasury to be used to determine the Reset Rate will be announced by the Company or FPL Group Capital.
On the Business Day immediately following the Reset Announcement Date, the Company will cause a notice of the Reset Spread, Applicable Benchmark Treasury and, if applicable, percentage undivided beneficial ownership interest in the to be published in an Authorized Newspaper.
On each Reset Announcement Date, the Reset Spread and the Applicable Benchmark Treasury to be used to determine the Reset Rate will be announced by the Company.
On the Business Day immediately following the Reset Announcement Date, the Company will cause a notice of the Reset Spread and Applicable Benchmark Treasury and, if applicable, the percentage undivided beneficial ownership interest determined by the Reset Agent to be published in an Authorized Newspaper.
On each Remarketing Announcement Date, the Reset Agent will establish the Reset Spread to be added to the yield on the Applicable Benchmark Treasury expected to be in effect on the Remarketing Date.
On the applicable Reset Announcement Date the Reset Spread and the Applicable Benchmark Treasury to be used to determine the Reset Rate shall be announced by the Company or Sprint Capital.
On the Business Day immediately following the Reset Announcement Date, the Notes Holders shall be notified of such Reset Spread and Applicable Benchmark Treasury by the Company or Sprint Capital.
The Reset Rate shall equal the sum of (i) the Reset Spread and (ii) the yield on the Applicable Benchmark Treasury in effect on the third Business Day immediately preceding the Reset Date and shall be determined by the Reset Agent; provided that the Reset Rate will in no event exceed the maximum rate permitted by applicable law.
On the Business Day immediately following the Reset Announcement Date, the Company will cause a notice of the Reset Spread and Applicable Benchmark Treasury to be published in an Authorized Newspaper.
The Reset Rate shall equal the sum of (i) the Reset Spread and (ii) the yield on the Applicable Benchmark Treasury in effect on the third Business Day immediately preceding the Reset Date and shall be determined by the Reset Agent provided, that in no event shall the Reset Rate exceed the maximum rate permitted by applicable law.

More Definitions of Applicable Benchmark Treasury

Applicable Benchmark Treasury means direct obligations of the United States, as agreed upon by the Company and the Remarketing Agent (which may be obligations traded on a when-issued basis only), having a maturity of six months. The yield for the Applicable Benchmark Treasury shall be the bid side yield displayed at 10:00 a.m., New York City time, on the Remarketing Date in the Telerate system (or if the Telerate system is no longer available on that date or, in the opinion of the Remarketing Agent (after consultation with the Company), no longer an appropriate system from which to obtain the yield, such other nationally recognized quotation system as, in the opinion of the Remarketing Agent (after consultation with the Company), is appropriate). If this yield is not so displayed, the yield for the Applicable Benchmark Treasury will be, as calculated by the Remarketing Agent, the yield to maturity for the Applicable Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid yields, as of 10:30 a.m., New York City time, on the Remarketing Date of three leading United States government securities dealers selected by the Remarketing Agent (after consultation with the Company) (which may include the Remarketing Agent or an affiliate thereof).