MMD Index Rate definition

MMD Index Rate means a rate equal to the index rate resets of tax exempt variable rate issues known as Municipal Market Data General Obligation, AAA Index, with a designated maturity most closely approximating the period of time for which the MMD Index Rate may apply, as published on any Business Day by Municipal Market Data, a Thomson Financial Services Company, or its successors, plus a spread established by the Bondholder Representative; provided that in no event shall the MMD Index Rate exceed the Maximum Rate.
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MMD Index Rate means a rate equal to the index rate resets of tax exempt variable rate issues known as Municipal Market Data General Obligation, AAA Index, with a designated maturity most closely approximating the period of time for which the MMD Index Rate may apply, as published on any Business Day by Municipal Market Data, a Thomson Financial Services Company, or its
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MMD Index Rate means a rate equal to the index rate resets of tax exempt variable rate issues known as Municipal Market Data General Obligation, AAA Index, with a designated maturity most closely approximating the period of time for which the MMD Index Rate may apply, as published on any business day by Municipal Market Data, a Thomson Financial Services Company, or its successors. In addition, the Bonds are subject to redemption in whole or in part at any time on or after January 15, 2029, at the option of the Company, in such order of maturity as the Issuer may choose at the direction of the Company, and within a maturity by lot as selected by the Trustee, at the redemption prices (expressed as a percentage of the principal amount thereof) shown below, plus interest accrued to the redemption date. January 15, 2029 through January 14, 2030 103 % January 15, 2030 through January 14, 2031 102 % January 15, 2031 through January 14, 2032 101 % January 15, 2032 and thereafter 100 %
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Examples of MMD Index Rate in a sentence

  • If the Bonds bear interest at the MMD Index Rate, the SIFMA Index Rate, the Term Rate or the Fixed Interest Rate and are covered by a Credit Facility, the interest coverage period shall be sufficient to maintain the rating on the Bonds as required and confirmed by the Rating Agency.

  • Interest shall be calculated on the basis of a 360 day year of twelve 30-day months so long as interest is payable at the MMD Index Rate, Term Rate or the Fixed Interest Rate.

  • The Bond Coupon Rate for each Interest Rate Period while the Bonds bear interest in the SIFMA Index Rate Mode or the MMD Index Rate Mode shall be determined by the Indexing Agent on each Interest Rate Determination Date.

  • Interest shall be calculated on the basis of a 360 day year of twelve 30 day months so long as interest is payable at the MMD Index Rate, Term Rate or the Fixed Interest Rate or the Permanent Loan Rate.


More Definitions of MMD Index Rate

MMD Index Rate means a rate equal to the index of tax-exempt fixed rate issues known as Municipal Market Data General Obligation, AAA Index, with a remaining maturity most closely approximating the period of time for which the MMD Index Rate may apply, as published on any Business Day by Municipal Market Data, a Thomson Financial Services Company, or its successors, multiplied by the applicable MMD Factor, plus the Spread; provided, however, that in no event shall the MMD Index Rate exceed the Maximum Rate.
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