Minimum Rate Period definition

Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Minimum Rate Period means any Rate Period consisting of seven Rate Period Days, as adjusted to reflect any changes when the regular day that is a Rate Determination Date is not a Business Day.

Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days for the Preferred Shares.

Examples of Minimum Rate Period in a sentence

• The Trust, at its option, may designate any succeeding Subsequent Rate Period of Preferred Shares as a special rate period consisting of a specified number of Rate Period Days, other than the number of Rate Period Days comprising a Minimum Rate Period, that is evenly divisible by seven, subject to adjustment as provided in paragraph (b) of this Section 4 (each such period, a "Special Rate Period").

• If the Trust delivers to its Auction Agent a notice of the Auction Date for any series of Preferred Shares of the Trust for a Rate Period thereof that next succeeds a Rate period that is not a Minimum Rate Period in the form of Exhibit C to the Auction Agency Agreement, and BD is a Broker-Dealer of such series, the Auction Agent shall deliver such notice to BD as promptly as practicable after its receipt of such notice from the Trust.

• The Trust, at its option, may designate any succeeding Subsequent Rate Period of Preferred Shares as a special rate period consisting of a specified number of Rate Period Days, other than the number of Rate Period Days comprising a Minimum Rate Period, that is evenly divisible by ___, subject to adjustment as provided in paragraph (b) of this Section 4 (each such period, a "Special Rate Period").

• The Applicable Rate for each Dividend Period commencing during a Default Period will be equal to the Default Rate, and each subsequent Dividend Period commencing during a Default Period shall be a Minimum Rate Period; provided, however, that the commencement of a Default Period will not by itself cause the commencement of a new Dividend Period.

• The Trust, at its option, may designate any succeeding Subsequent Rate Period of Preferred Shares as a special rate period consisting of a specified number of Rate Period Days, other than the number of Rate Period Days comprising a Minimum Rate Period, that is evenly divisible by seven, subject to adjustment as provided in paragraph (b) of this Section 4 (each such period, a “Special Rate Period”).

More Definitions of Minimum Rate Period

Minimum Rate Period means a period of seven (7) Rate Period days.

Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days for Series T7 and of 28 Rate Period Days for Series W28.

Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days for the Preferred Shares. (bbb) "MOODY'S" shall mean ▇▇▇▇▇'▇ Investors Service, Inc., a Delaware corporation, and its successors. (ccc) "MOODY'S DISCOUNT FACTOR" shall mean, for purposes of determining the Discounted Value of any Moody's Eligible Asset, the percentage determined as follows. The Moody's Discount Factor for any Moody's Eligible Asset other than the securities set forth below will be the percentage provided in writing by Moody's.

Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days for Series M7, T7, W7, TH7 and F7 and of 28 Rate Period Days for Series T28 and W28. "Moody's" shall mean Moody's Investors Service, Inc., a Delaware corporation, and its successors. "Moody's Discount Factor" means, for purposes of determining the Discounted Value of any Moody's Eligible Asset, the percentage determined as follows. According to Moody's guidelines, in addition to standard monthly reporting, the Fund must notify Moody's if the portfolio coverage ratio of the discounted value of Moody's Eligible Assets to Preferred Shares Basic Maintenance Amount is less than 130%. Computation of rating agency asset coverage ratio requires use of the Diversification Table prior to applying discount factors noted below and after identifying Moody's eligible assets for purposes of completing basic maintenance tests. The Moody's Discount Factor for any Moody's Eligible Asset other than the securities set forth below will be the percentage provided in writing by Moody's.

Minimum Rate Period means any Rate Period consisting of 28 Rate Period Days or such greater or lesser number of Rate Period Days as shall be established as the Minimum Rate Period by resolution of the Board of Directors.

Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days for Series M7, T7, W7, TH7 and F7 and of 28 Rate Period Days for Series T28 and W28.

Minimum Rate Period means any Rate Period consisting of 49 Rate Period Days or such greater or lesser number of Rate Period Days as shall be established as the Minimum Rate Period by the Trustees pursuant to paragraph 12.3(b)(ii)(C) below, provided that the Minimum Rate Period shall in all cases equal or exceed the Minimum Holding Period.