Initial Interest Reset Period definition

Initial Interest Reset Period. (or “Initial Interest Period”) means the period from and including April 13, 2017 to but excluding the first Interest Reset Date.
View Source
Initial Interest Reset Period shall have the meaning set forth in Section 2.05(a)(ii).
View Source
Initial Interest Reset Period shall be an annual rate equal to Three-Month LIBOR (as computed below), determined as of the Interest Determination Date prior to such original issue date, plus 1.40% per year. Thereafter, the interest rate for each period from, and including, an Interest Reset Date to, but excluding, the immediately succeeding Interest Reset Date (each an “Interest Reset Period”), shall be an annual rate equal to Three-Month LIBOR (as computed below), determined as of the applicable Interest Determination Date for such Interest Reset Period, plus 1.40% per year. The interest rate for the final Interest Reset Period from, and including, the Interest Reset Date immediately preceding the Maturity Date to, but excluding, such Maturity Date, shall be an annual rate equal to Three-Month LIBOR (as computed below), determined as of the applicable Interest Determination Date for such Interest Reset Period, plus 1.40% per year. If any Interest Reset Date for the Notes of this series falls on a day that is not a Business Day, such Interest Reset Date shall be postponed to the next succeeding day that is a Business Day, except that if such Business Day is in the next succeeding calendar month, such Interest Reset Date shall be the immediately preceding Business Day. The term “Business Day” means any calendar day that is not a Saturday, Sunday or a day on which commercial banking institutions are not required to be open for business in The City of New York, New York, and that is also a calendar day on which commercial banks are open for dealings in deposits in U.S. Dollars in the London interbank market (a “London Business Day”); and the term “Interest Determination Date” means, with respect to an Interest Reset Period, the second London Business Day immediately preceding either (a) the original issue date of the Notes of this series, in the case of the Initial Interest Reset Period, or (b) the applicable Interest Reset Date, in the case of any other Interest Reset Period. The amount of interest payable for any full or partial Interest Period for the Notes of this series shall be computed on the basis of the actual number of days in the period divided by 360. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name the relevant Notes, or any predecessor Notes, are registered at the close of business on the Record Date for such Interest Payment Date; provided that the interes...
View Source

Examples of Initial Interest Reset Period in a sentence

  • Thereafter the Initial Interest Rate shall be reset quarterly (the “Initial Interest Reset Period” and the first day of each Initial Interest Reset Period shall be an “Initial Interest Reset Date”) by reference to the then prevailing LIBOR.

  • The interest rate for the Initial Interest Reset Period will be three-month LIBOR, determined as of the Interest Determination Date (as defined below) prior to the original issue date, plus 0.450% per year.

  • The “Interest Determination Date” will be the second London Business Day immediately preceding either (x) the original issue date, in the case of the Initial Interest Reset Period, or (y) the applicable Interest Reset Date, in the case of each other Interest Reset Period.

  • The “Interest Determination Date” will be the second London Business Day immediately preceding either (i) the original issue date, in the case of the Initial Interest Reset Period, or (ii) the applicable Interest Reset Date, in the case of each other Interest Reset Period.