Initial Reset Period definition
Examples of Initial Reset Period in a sentence
The Parties acknowledge and agree that the final Available Discount for any Reset Period following the Initial Reset Period will be determined on the applicable Re-Pricing Date, and that such Available Discount may differ from the estimate or estimates of such Available Discount provided to Gas Purchaser and the other Gas Purchasers prior to the applicable Remarketing Election Deadline.
The “Series 2007-1 Reset Rate” for each Interest Accrual Period during the Initial Reset Period shall be equal to an annual rate of One-Month LIBOR (except for the Initial Interest Rate) plus 0.095% per annum, calculated on the basis of the actual number of days elapsed and a 365 or 366 day year, as the case may be.
Notwithstanding anything herein to the contrary, any Reset Period other than the Initial Reset Period may be for a period less than five (5) years if, prior to the commencement of such Reset Period, Owner shall obtain and fully pay for a "forward" Swap or Cap that: (a) has its first "calculation period" beginning on the date such Reset Period ends, and ending on a date that is at least five years from the first day of such Reset Period; and (b) otherwise complies with the requirements of this section 3.1.
Notwithstanding anything herein to the contrary, any Reset Period other than the Initial Reset Period may be for a period less than five (5) years if, prior to the commencement of such Reset Period, Owner shall obtain and fully pay for a "forward" Swap or Cap that: (i) has its first "calculation period" beginning on the date such Reset Period ends, and ending on a date that is at least five years from the first day of such Reset Period and (ii) otherwise complies with the requirements of this section 3.1.
If during any Reset Period (including the Initial Reset Period) the Series 2007-1 Reset Rate Notes are structured to receive principal distributions only on the next related Reset Date, the registered owners of the Series 2007-1 Reset Rate Notes will not be paid principal on any related Monthly Calculation Date when principal is allocated to the Series 2007-1 Reset Rate Notes.