Flexible Rate Mode definition

Flexible Rate Mode means each period, comprised of Flexible Segments, during which Revenue Bonds and bonds of Series LL bear interest at Flexible Rates.

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Flexible Rate Mode means each period, comprised of Flexible Segments, during which Chicago Revenue Bonds and bonds of Series JJ bear interest at Flexible Rates.

Flexible Rate Mode means a Rate Mode designated as such in a Conversion Notice, in which each 2025 Series EE Bond in such Rate Mode bears interest at a Flexible Rate.

Examples of Flexible Rate Mode in a sentence

Bonds in the Flexible Rate Mode are not subject to redemption at the option of the District.
During the Flexible Rate Mode and the Term Rate Mode, the Remarketing Agent shall establish the Flexible Rate or Term Rate for each Adjustment Period by 9:00 a.m. on the Rate Determination Date for such Adjustment Period.
The District, prior to the effective date of a Change in Mode to the Flexible Rate Mode or the Term Rate Mode, and on each Rate Determination Date for a Flexible Rate Bond or a Term Rate Bond, shall notify the Trustee, the Remarketing Agent and the Liquidity Provider of the Adjustment Periods and principal amount of Bonds for each Adjustment Period by Electronic Notice and shall confirm such notice in writing as soon as practicable thereafter.
During the Flexible Rate Mode, the Term Rate Mode, the Semi- Annual Mode, the Annual Mode and the Fixed Rate Mode, payment will be made on each Interest Payment Date for unpaid interest accrued to but not including such Interest Payment Date.
Interest on this Bond may accrue in the Flexible Index Mode, the Index Mode, the Daily Mode, the Weekly Mode, the Monthly Mode, the Semi-Annual Mode, the Annual Mode, the Flexible Rate Mode, the Term Mode and the District has an option to convert the interest rate on this Bond to the Fixed Rate Mode, all as provided in the Indenture.
If, for any reason, a Flexible Rate or Term Rate is not so established by the Remarketing Agent for any Flexible Rate Bond or Term Rate Bond, or if such Flexible Rate or Term Rate is determined by a court of law to be invalid or unenforceable, then the Flexible Rate or Term Rate for such Flexible Rate Bond or Term Rate Bond, respectively, shall be the rate per annum equal to the Alternate Rate on the first day of such Flexible Rate Mode or Term Rate Mode, as applicable.

More Definitions of Flexible Rate Mode

Flexible Rate Mode means the Mode in which the interest rate on the Bonds is set at the Flexible Rate.

Flexible Rate Mode means the Mode in which the duration of each Adjustment Period is determined in accordance with clause (b) of the definition of Adjustment Period and each such Adjustment Period is equal to or less than one year.

Flexible Rate Mode means the Interest Rate Mode during which the Bonds of a Series bear interest at Flexible Rates for Flexible Periods established in accordance with this First Supplemental Indenture.