Indexed Rate definition
Examples of Indexed Rate in a sentence
Borrower Qualification Numeric – Decimal 3472.43 9(9).99 Always >= 0 116 Fully Indexed Rate The fully indexed interest rate as of securitization cut-off.
Unless otherwise indicated in the applicable Pricing Supplement, the Regular Record Date with respect to any Interest Payment Date (i) for a Floating Rate Note shall be the Business Day immediately preceding such Interest Payment Date and (ii) for a Fixed Rate Note or Indexed Rate Note shall be the date (whether or not a Business Day) fifteen calendar days immediately preceding such Interest Payment Date.
The Regular Record Date with respect to any Interest Payment Date for a Floating-Rate Note, Fixed Rate Note or Indexed Rate Note shall be the date (whether or not a Business Day) fifteen calendar days immediately preceding such Interest Payment Date.
Whenever any Bond is in a Term Indexed Mode, there shall be a Calculation Agent (which may be the Trustee or the Bondholder Representative, if either accepts appointment) appointed by the Borrower (with the consent of the Bondholder Representative) with power to ascertain and notify the Trustee of each LIBOR Index, LIBOR Index Rate, SIFMA Municipal Swap Index, and SIFMA Indexed Rate, as applicable, and Default Rate, and each change in the Applicable Spread or Reserve Percentage known to it.
The Agent shall promptly, but in any event by 11:00 a.m. (Local Time) on the first Business Day prior to the Borrowing Date, in the case of Indexed Rate Advances, and by 12:00 noon (Local Time) on the same Business Day, in the case of Absolute Rate Advances, notify each Lender of its receipt of a Competitive Bid Borrowing Notice and the aggregate principal amount of each Competitive Bid Advance allocated to each participating Lender.
On each date on which the Long Indexed Rate for Bonds is recalculated, the Calculation Agent shall give notice of such rate by Electronic Means upon request from any Bondholder, the Borrower, the Issuer, the Trustee, the Tender Agent or any Credit Facility Provider or Liquidity Facility Provider for such Bonds.
The Aggregate 20% Equivalent Rent shall then be divided by the aggregate Premises’ square footage for all marinas included in the Marina Index to determine the Target Indexed Rate for the succeeding twelve (12) months of Rent beginning on March 1 (i.e., if the Aggregate 20% Equivalent Rent is $2,800,000 and the aggregate square footage for all marinas in the Marina Index is 1,111,111 square feet, the Target Index Rate would be $2.52 a square foot [$2,800,000 divided by 1,111,111 square feet]).
The Borrower shall select the index on which the Long Indexed Rate for such Bonds shall be based not less than five Business Days prior to the applicable Rate Determination Date.
The Remarketing Agent for such Bonds shall determine the percentage of and/or the spread to such index to be used in calculating the Long Indexed Rate not later than 4:00 p.m. New York City time on the Rate Determination Date for such Bonds.
Interest accrued on each Eurocurrency Advance or Indexed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance or Indexed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity.