Auction Rate Bonds definition

Auction Rate Bonds means with respect to an Auction Rate Period, any Bonds or subseries of Bonds which bear interest at the Auction Rate.
Sample 1Sample 2Sample 3
Auction Rate Bonds means with respect to an Auction Rate Period, any Bonds or subseries of Bonds which bear the Auction Rate determined pursuant to Article III.
Sample 1Sample 2Sample 3
Auction Rate Bonds. ’ means the Subseries C-2 Bonds bearing interest at their Initial Rates and any Multi-Modal Bonds bearing interest in the Auction Rate Mode.
Sample 1

Examples of Auction Rate Bonds in a sentence

  • During any Auction Rate Period, the Auction Rate Bonds shall bear interest at the Auction Rate determined as set forth in this Section 3.03 and Sections 3.04 through 3.10.

  • During any Auction Rate Period, the Company on behalf of the Authority shall provide the Trustee and, so long as no Event of Default has occurred and is continuing and the ownership of any Auction Rate Bonds is maintained in book-entry form by the Securities Depository, the Auction Agent, with notice of any change in (a) the Statutory Corporate Tax Rate under the Indenture, (b) the Applicable Percentage, or (c) the maximum rate permitted by law on the Bonds.

  • Nothing in this Indenture shall prevent the Authority from delivering, and the Authority is hereby expressly permitted to deliver, Auction Rate Bonds in typewritten form to the Securities Depository as registered owner thereof.

  • During any Auction Rate Period, the Company shall take all reasonable action necessary to enable at least two nationally recognized, statistical rating organizations (as that term is used in the rules and regulations of the Commission under the Exchange Act) to provide ratings for the Auction Rate Bonds.

  • Auction Rate Bonds - Auction rate bonds, which are variable rate bonds issued in an auction rate mode, are auctioned at intervals between 7 days, 28 days and 35 days.

  • In the event of a Change in the Interest Rate Mode on less than all the Bonds of a series or subseries to or from an Auction Rate, the minimum aggregate principal amount of Bonds that continue to bear, or are adjusted to bear interest at an Auction Rate for an Auction Rate Period, shall not be less than $20,000,000 for such Auction Rate Bonds.

  • In the event of a Change in the Interest Rate Mode on less than all the Bonds of a series or subseries to or from an Auction Rate, the minimum aggregate principal amount of Bonds of a subseries that continue to bear, or are adjusted to bear interest at an Auction Rate for an Auction Rate Period, shall not be less than $10,000,000 for such Auction Rate Bonds.

  • While the Bonds bear interest at the PARS Rate, Auctions shall be conducted on each Auction Date (other than the Auction Date immediately preceding (i) each Rate Period commencing after the ownership of the Auction Rate Bonds is no longer maintained in the Book-Entry System; (ii) each Rate Period commencing after the occurrence and during the continuance of a Payment Default; or (iii) any Rate Period commencing less than two Business Days after the cure of a Payment Default).

  • The Company shall take all reasonable action necessary to enable at least one nationally recognized statistical rating organization (as that term is used in the rules and regulations of the SEC under the Securities Exchange Act) to provide credit ratings for the Auction Rate Bonds.

  • In the event of a Change in the Interest Rate Mode on less than all the Bonds of a subseries to or from an Auction Rate, the minimum aggregate principal amount of Bonds of a subseries that continue to bear, or are adjusted to bear interest at an Auction Rate for an Auction Rate Period, shall not be less than $10,000,000 for such Auction Rate Bonds.


More Definitions of Auction Rate Bonds

Auction Rate Bonds means the Bonds while they bear interest at an Auction Rate.
Sample 1Sample 2
Auction Rate Bonds means with respect to an Auction Rate Period, any Bonds or subseries of Bonds which bear interest at the Auction Rate. “Auction Rate Bonds Period Record Date” shall mean, with respect to each Interest Payment Date during an Auction Rate Period, the Business Day
Sample 1
Auction Rate Bonds means the Series 2003 Bonds outstanding as Auction Rate Bonds prior to their conversion to bear interest at a Fixed Rate or an Adjustable Rate.
Sample 1
Auction Rate Bonds means with respect to an Auction Rate Period, any Bonds or series of Bonds which bear interest at the Auction Period Rate.
Sample 1
Auction Rate Bonds means: ------------------
Sample 1
Auction Rate Bonds means (A) Regular Auction Rate Bonds the beneficial ownership of which has been linked with the beneficial ownership of an equal aggregate principal amount of Inverse Rate Bonds and recorded as such under a unique CUSIP number at the Securities Depository, or (B) Special Auction Rate Bonds the beneficial ownership of which has been linked with the beneficial ownership of an equal aggregate principal amount of Inverse Rate Bonds and recorded as such under a unique CUSIP number at the Securities Depository; and
Sample 1

Related to Auction Rate Bonds

  • 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.

  • Auction Rate means the rate of interest per annum that results from implementation of the Auction Procedures and is determined as described in Section 2.02(a)(iii)(B) of this Appendix A.

  • Floating Rate Notes means the Class A-2b Notes.

  • Fixed Rate Notes Together, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

  • Weekly Rate means the Interest Rate Mode for the Bonds in which the interest rate on such Bonds is determined weekly in accordance with Section 2.02(c)(iii).

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Fixed Rate Note means any Class A-1 Note, Class A-2a Note, Class A-3 Note or Class A-4 Note.

  • Floating Rate Note means any Class A-2b Note.

  • Daily Rate Period means a period commencing on one Business Day and extending to, but not including, the next succeeding Business Day, during which Multi-Modal Bonds bear interest at the Daily Rate.

  • Weekly Rate Period means any period of time during which a Group of 2020 Series D Variable Rate Bonds bears interest at the Weekly Rate.

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • Corporate Bonds means debt securities issued by private and public corporations.

  • Floating Rate Period has the meaning set forth in section 2.5(b)(ii) hereof.

  • Treasury Bonds means United States Treasury Bonds or Notes.

  • Daily Rate means the rate specified as such in the Reference Rate Terms.

  • Hedge Treasury Note(s) means, with respect to any Accepted Note, the United States Treasury Note or Notes whose duration (as determined by Prudential) most closely matches the duration of such Accepted Note.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Series 2020 Bonds means the Series 2020A Bonds and the Series 2020B Bonds.

  • U.S. Treasury Note Rate on any date means (i) the yield as calculated by reference to the bid price quotation of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as such bid price quotation is published on the Business Day immediately preceding such date by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Note Rate on such date. "Alternate Treasury Note Rate" on any date means the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as determined by the bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • Rate Period has the meaning set forth in the Statement.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Constant Maturity Swap Rate means: (1) the rate for U.S. dollar swaps with the designated maturity specified in the applicable pricing supplement, expressed as a percentage, which appears on the Reuters Screen (or any successor service) ISDAFIX1 Page as of 11:00 A.M., New York City time, on the particular Interest Determination Date; or (2) if the rate referred to in clause (1) does not appear on the Reuters Screen (or any successor service) ISDAFIX1 Page by 2:00 P.M., New York City time, on such Interest Determination Date, a percentage determined on the basis of the mid-market semiannual swap rate quotations provided by the reference banks (as defined below) as of approximately 11:00 A.M., New York City time, on such Interest Determination Date, and, for this purpose, the semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating U.S. dollar interest rate swap transaction with a term equal to the designated maturity

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.