Index Floating Rate definition

Index Floating Rate means a per annum rate of interest equal to the sum of (i) the Applicable Spread and (ii) the LIBOR Index.

Index Floating Rate has the meaning set forth in the Indenture.

Index Floating Rate means (a) for the period beginning October 27, 2016, and ending [ , 2022], a rate equal to the sum of (i) 67% of the LIBOR Rate plus(ii) the Applicable Margin, and (b) thereafter, a rate equal to the sum of (i) 79% of Term SOFR plus (ii) the Applicable Margin. The Index Floating Rate shall be recalculated on each Rate Reset Date (taking into account any adjustments to the Applicable Margin and Margin Rate Factor that have occurred during the preceding interest rate period) and remain fixed until the next Rate Reset Date.”

Examples of Index Floating Rate in a sentence

• The bonds were issued in the Index Floating Rate Mode and bear interest at an Index Floating Rate based on the SIFMA Index plus a spread of 0.74%.

• The bonds were issued in the Bank‐Bought Rate Mode and bear interest at an Index Floating Rate based on an Adjusted London Interbank Offered Rate (LIBOR) rate plus a spread of 0.97%.

• The bonds were originally issued in the Index Floating Rate Mode with an Index Floating Rate based on the SIFMA Index plus a spread of 0.74% and an original maturity date in 2034.

• The bonds are currently in the Bank-Bought Rate Mode and bear interest at an Index Floating Rate based on an Adjusted London Interbank Offered Rate (LIBOR) rate plus a tax-exempt spread of 0.5925%.

• Interest Rate means a Fixed Rate, Daily Rate, Weekly Rate, Commercial Paper Rate, Index Floating Rate or Term Rate, as the context requires.

More Definitions of Index Floating Rate

Index Floating Rate has the meaning set forth in the Bonds and as set forth in Section 2.01 hereof.

Index Floating Rate means an interest rate on the Series 2021A Refunding Bonds established in accordance with Section 3.04(g)(i) hereof.

Index Floating Rate means the per annum interest rate on the Bonds determined in accordance with Section 2.02(c) of the Indenture.

Index Floating Rate means the sum of (A) the product of (x) Applicable Factor and (y) LIBOR Rate and (B) the Applicable Spread, determined on the Effective Date and on each Interest Reset Date.

Index Floating Rate means a per annum rate of interest, established in accordance with Section 4(a)(4) of this Exhibit B on each Interest Determination Date during an Index Floating Rate Period, equal to the sum of (A) the Index Floating Rate Spread and (B) the product of the applicable Index and the Index Floating Rate Percentage.

Index Floating Rate means the LIBOR Index Rate or the SIFMA Index Rate, as applicable.

Index Floating Rate has the meaning set forth in the Bonds. The initial Index Floating Rate on the Bonds for the Initial Interest Period shall be % as determined by the Purchaser (as defined in the Bonds) of the Bonds on May 10, 2016.