BMA Index definition

BMA Index means, as of any date, the rate calculated according to the Bond Market Association Municipal Swap Index as of the most recent date for which such index was published or such other weekly, high-grade index composed of weekly, tax-exempt variable rate demand notes produced by Municipal Market Data, Inc. or any successor thereto, or as otherwise designated by the Bond Market Association.

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BMA Index means, as of any date of determination, The Bond Market Association Municipal Swap Index that is most recently released by Municipal Market Data to its subscribers prior to such date of determination; provided, however, that if the BMA Index is unavailable for a period of over 21 days preceding such date of determination, references to the BMA Index shall be replaced by the After-Tax Equivalent Rate.

BMA Index means the BMA Municipal Swap Index disseminated by Municipal Market Data, a Thomson Financial Services Company, or its successor. However, if that index ceases to be available, “BMA Index” means an index reasonably selected by the City which is widely available to dealers in municipal securities, and which measures the interest rate of municipal securities that bear interest at short term or variable rates.

Examples of BMA Index in a sentence

• If a Daily Interest Rate for the first day of such Daily Interest Rate Period is not determined as provided in Section 2.01(c)(ii) hereof, the Daily Interest Rate for the first day of such Daily Interest Rate Period shall be equal to the BMA Index.

• If a Bond Interest Term Rate for a Bond Interest Term of one day is not determined or effective by 1:00 p.m. (New York City time) on such day, the Bond Interest Term Rate for such Bond Interest Term of one day shall be equal to the BMA Index.

• Under each Cap arrangement, the Counterparty shall pay a floating amount, computed in accordance with the Cap Documents, to the extent that the BMA Index Rate exceeds the fixed cap rate (the "Strike Rate").

• The BMA Index Rate for the Cap initially provided for this purpose shall be the lower of (i) the BMA Index Rate as of the bid date of the Cap or (ii) the average of the BMA Index Rate for the six (6) week period prior to and including the bid date of the Cap.

• If the BMA Index Rate is not published on any reset date under the Cap, the Counterparty must determine an appropriate index as a substitute for the BMA Index Rate on each such reset date.

More Definitions of BMA Index

BMA Index means, as of any date of determination, the Bond Market Association Municipal Swap Index that is most recently released by Municipal Market Data to its subscribers prior to such date of determination; provided, however, that if the BMA Index is unavailable for a period of over 21 days preceding such date of determination, references to the BMA Index shall be replaced by the After-Tax Equivalent Rate.

BMA Index means on any date, a rate determined on the basis of the seven-day high grade market index of tax-exempt variable rate demand obligations, as produced by Municipal Market Data and published or made available by the Bond Market Association (“BMA”) or any person acting in cooperation with or under the sponsorship of BMA and acceptable to the Remarketing Agent and effective from such date.

BMA Index means The Bond Market Association Municipal Swap Index released by Municipal Market Data to its subscribers."

BMA Index means the “BMA Municipal Bond Index”™ published from time to time by the Bond Market Association based upon weekly yield evaluations at par of tax-exempt state and local government bonds or if such index is no longer published, a comparable index as selected by the remarketing agent with respect to the affected Variable Rates Notes subject to receipt of a Rating Confirmation.

BMA Index means, on any date, a rate determined on the basis of the seven-day high grade market index of tax-exempt variable rate demand obligations, as produced by Municipal Market Data and published or made available by the Bond Market Association (“BMA”) or any person acting in cooperation with or under the sponsorship of BMA and acceptable to the Market Agent (if any) for the applicable Series of Bonds, and effective from such date; provided, however, that if such index ceases to be available, “BMA Index” means any index reasonably selected by the City and County and acceptable to the Market Agent, which is widely available to dealers in municipal securities, and which measures the interest rate of municipal securities that bear interest at short-term rates or variable rates.

BMA Index means The Bond Market Association Municipal Swap Index released by Municipal Market Data to its subscribers; provided, however, that if the BMA Index is unavailable, references to the BMA Index shall be replaced by the After-Tax Equivalent Rate.

BMA Index means The Bond Market Association® Municipal Swap Index as released to subscribers thereof.