Reset Adjustment Date definition

Reset Adjustment Date means any date on which the interest rate on the Bonds is adjusted to a Reset Rate or to a different Reset Rate. During a Variable Period, a Reset Adjustment Date may occur only on any Interest Payment Date.
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Reset Adjustment Date means any date on which the interest rate on the Bonds is adjusted to a Reset Rate or to a different Reset Rate. During a Variable Period, a Reset Adjustment Date may occur only on an Interest Payment Date or if such Interest Payment Date is not a Business Day, the next succeeding Business Day.
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Examples of Reset Adjustment Date in a sentence

  • Following any Reset Adjustment Date, the interest rate on the Bonds may be converted again to a Variable Rate at the election or deemed election of the Borrower in accordance with the procedures in Section 2.02(c) hereof, which date of adjustment to a Variable Rate shall be the Variable Rate Adjustment Date.

  • Any Bond not tendered to the Tender Agent for purchase in accordance with the provisions of this subsection (c), on a Reset Adjustment Date (including a cancelled Reset Adjustment Date) shall be deemed to have been tendered for purchase on such Reset Adjustment Date pursuant to Section 10.01 hereof for all purposes of this Indenture, including particularly Article X hereof; provided, however, payment on such Bonds shall only be made upon presentation thereof.

  • From and after each Reset Adjustment Date until the last day of the related Reset Period, the Bonds will bear interest at the applicable Reset Rate, payable on each Interest Payment Date of each year, commencing on the Interest Payment Date next following the Reset Adjustment Date, computed on the basis of a 360-day year of twelve 30-day months.

  • In the event that the Trustee receives notice from the Remarketing Agent that a Market Risk Event has occurred after giving the notice specified in the next paragraph to the owners of the Bonds, the Trustee shall notify the owners of the Bonds that the Reset Adjustment Date has been cancelled.

  • Bondholders may not elect to retain their Bonds in any such event (even if such Reset Adjustment Date, Variable Rate Adjustment Date, the Fixed Rate Adjustment Date or any Substitution Date fails to occur).

  • During the Reset Period, the Bonds shall bear interest at the Reset Rate, payable on each Interest Payment Date (commencing on the first Interest Payment Date next following after the Reset Adjustment Date) to and including the next succeeding Reset Adjustment Date.

  • The Bonds shall initially bear interest at a variable rate as described in subsection (b) of this Section 2.02, until the first Reset Adjustment Date or Fixed Rate Adjustment Date, if any, and thereafter shall bear interest at the applicable rate set forth in this Section.

  • The registered Owners of the Bonds shall be required to tender their Bonds to the Tender Agent for purchase by the Trustee on behalf of and as agent for the owner of the Bonds for a Purchase Price equal to 100% of the principal amount thereof plus accrued interest to the applicable Settlement Date on each Reset Adjustment Date, each Variable Rate Adjustment Date and the Fixed Rate Adjustment Date, and on the date of any substitution of any Alternate Credit Facility pursuant to the Indenture.