Daily Rate Period definition

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.

Daily Rate Period means any period of time during which a Group of 2023 Series B Variable Rate Bonds bears interest at the Daily Rate.

Daily Rate Period means the period beginning on, and including, the Conversion Date to the Daily Rate and ending on and including the day preceding the next Business Day and each period thereafter beginning on and including a Business Day and ending on and including the day preceding the next succeeding Business Day until the day preceding the earlier of the Conversion to a different Interest Rate Mode or the maturity of the Bonds.

Examples of Daily Rate Period in a sentence

• During any Daily Rate Period, Weekly Rate Period or Flexible Rate Period, interest on the related Bonds shall be computed upon the basis of a 365 or 366-day year, as applicable, for the number of days actually elapsed.

• Except with respect to an adjustment to a Daily Rate Period from a Flexible Rate, the Trustee shall give notice of an adjustment to a Daily Rate Period to Owners of such Bonds, by first class mail, postage prepaid, not less than twelve (12) days prior to the effective date of such Daily Rate Period.

• During each Daily Rate Period, the Bonds shall bear interest at the Daily Rate, which shall be determined by the Remarketing Agent not later than 10:00 a.m., New York time, on each Business Day for such Business Day.

• If a Daily Rate for the first day of any such Daily Rate Period is not determined as provided in Section 2.03(a)(i) hereof, the Daily Rate for the first day of such Daily Rate Period shall be 105% of the most recent TBMA Swap Index.

• If the notice of such rescission does not become effective for any reason, and the Borrower does not elect to continue the Rate Period then in effect, the Rate Period shall automatically adjust to or continue in a Daily Rate Period.

More Definitions of Daily Rate Period

Daily Rate Period means any period during which Bonds bear interest at a Daily Rate which period shall commence on the effective date of the Change in the Interest Rate Mode to a Daily Rate and shall extend through the day immediately preceding the earlier of (a) the effective date of a Change in the Interest Rate Mode or (b) the Stated Maturity.

Daily Rate Period means each period during a Daily Rate Mode from and commencing on a Business Day to and including the day immediately preceding the first Business Day thereafter, provided that the first Daily Rate Period in any Daily Rate Mode shall commence on the effective date of such Daily Rate Mode.

Daily Rate Period means each period during which the Bonds accrue interest at a particular Daily Rate.

Daily Rate Period means any period during which Bonds bear interest at a Daily Rate which period shall commence on the effective date of the Change in the Interest Rate Mode to a Daily Rate and shall extend through the earlier of (a) the day immediately preceding the effective date of a Change in the Interest Rate Mode or (b) the Stated Maturity.

Daily Rate Period means each period during which Bonds bear interest at Daily Rates.

Daily Rate Period means each period described in Section 202 hereof during which the Bonds accrue interest at a Daily Rate.

Daily Rate Period means any period of time during which a Series of 2023 Series C Bonds bears interest at the Daily Rate.