Examples of Mode Change Notice in a sentence
If a Failed Transition Event occurs, the new Mode designated by the relevant Mode Change Notice shall not be established.
The Fund may provide in the Mode Change Notice that such Mode change is subject to one or more additional conditions precedent and that the Fund shall not be required to effect such change unless each such condition has been satisfied at the time or times and in the manner specified in such Mode Change Notice; provided, that no such conditions shall affect the consequences of a Failed Adjustment Event or a Failed Transition Event.
For the purpose of effecting a transition to a new Mode with respect to all of the Outstanding MFP Shares, on any day after [●], 20[●], the Fund may, at its option, accelerate the expiration date of the Variable Rate Mode (a “ Transition”) to any Wednesday that is a Business Day (the “Transition Date”) by delivering a Mode Change Notice in accordance with Section 3.2 above.
The Board shall give written notice (the "Mode Change Notice") to the Notice Parties of its intention to effect a change in the Mode from the Auction Rate Mode then prevailing to another Mode, together with the proposed Mode Change Date.
On such Escrow Mandatory Purchase Date, the Bonds of the related subseries either shall be purchased and cancelled or shall bear interest in the Mode designated by the Borrower in the Mode Change Notice delivered in conjunction with a Preliminary Loan Request Certificate to commence on the Escrow Mandatory Purchase Date as provided by Section 3.01(a)(iv) and shall thereupon be subject to the provisions of Exhibit A relating to such Mode.
With respect to a subseries of the Bonds, the Borrower’s Mode Change Notice for any Mode Change Date may direct that the Bonds of one or more subseries or sub-subseries may be combined into a single subseries with a single Mode or may be separated into subseries or sub-subseries, as applicable, with the same or different Modes, provided that the aggregate principal amount of a subseries or sub-subseries shall be $5,000,000 or greater ($10,000,000 or greater in the case of the Auction Mode).
Upon any such combination or separation, Company’s Mode Change Notice shall include and there shall be attached to this Master Agreement an addendum specifying the series designation and initial identification number of each subseries and sub-subseries of Bonds then Outstanding, the respective CUSIP numbers, the aggregate principal amount of each such subseries and sub-subseries and the Mode of each such subseries and sub-subseries as of the date of the addendum.
Mode Change Notice shall have the meaning specified in Section A-208(a) hereof.
With respect to a change in the Mode from any Mode to any other Mode, in the event the foregoing conditions have not been satisfied by the Mode Change Date, the New Mode shall not take effect and the Bonds of the Series that are the subject of the Mode Change Notice shall be subject to mandatory tender for purchase and shall be automatically changed to Bonds in the Weekly Mode on the Mode Change Date.
If the notice of such rescission is given before the Owners of the Bonds have been notified of the mandatory purchase to occur on the Mode Change Date pursuant to Section 3.03 hereof, then the Mode Change Notice shall be deemed rescinded and of no force or effect.