SIFMA Rate means for any day the level of the most recently effective index rate which is compiled from the weekly interest rate resets of tax-exempt variable rate issues included in a database maintained by Municipal Market Data which meet specific criteria established from time to time by the Securities Industry and Financial Markets Association (SIFMA) and is issued on Wednesday of each week, or if any Wednesday is not a U.S. Government Securities Business Day, the next succeeding U.S. Government Securities Business Day. If such index is no longer published or otherwise not available, the SIFMA Rate for any day will mean the level of the "S&P Weekly High Grade Index" (formerly the X.X. Xxxxx Index) maintained by Standard & Poor’s Securities Evaluations Inc. for a 7-day maturity as published on the applicable Adjustment Date or most recently published prior to such Adjustment Date. If at any time neither such index is available, the Calculation Agent shall use instead an index that the Calculation Agent, in consultation with the Commission, determines most closely approximates the SIFMA index described above.

SIFMA Rate means, on any date, a rate determined on the basis of the seven-day high grade market index of tax-exempt variable rate demand obligations, as produced by Municipal Market Data and published or made available by SIFMA or any Person acting in cooperation with or under the sponsorship of SIFMA and acceptable to the Bank and effective from such date. In the event Municipal Market Data no longer produces an index satisfying the requirements of the preceding sentence, the SIFMA Rate (a/k/a, the “SIFMA Municipal Swap Index”) shall be deemed to be the S&P Municipal Bond 7 Day High Grade Rate Index, or if either such index is not available, such other similar national index as reasonably designated by the Bank. In the event that the SIFMA Rate is less than zero for any day, it shall be deemed to be zero for such day for purposes of this Agreement.

SIFMA Rate means a rate equal to the index of the weekly index rate resets of tax- exempt variable rate issues included in a database maintained by Municipal Market Data, a Thomson Financial Services Company, or its successors, which meet specific criteria established by The Securities Industry and Financial Markets Association, such index currently known as The Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index, or any successor to such index.

Examples of SIFMA Rate in a sentence

The Calculation Agent shall determine the SIFMA Index Rate on each Computation Date during the SIFMA Index Rate Period, and such rate shall become effective on the SIFMA Rate Reset Date immediately succeeding such Computation Date.
Once any Tax-Exempt Revolving Loan is converted into a Tax-Exempt SIFMA Rate Loan it may not be further converted.
The Calculation Agent shall determine the SIFMA Index Rate on each Computation Date during the SIFMA Index Rate Period, and such rate shall become effective on the SIFMA Rate Reset Date next succeeding such Computation Date and interest at such rate shall accrue each day during such SIFMA Index Rate Period, commencing on and including the first day of such period to but excluding the last day of such period.
If such index is no longer published or otherwise not available, the SIFMA Rate for any day will mean the level of the “S&P Weekly High Grade Index” (formerly the J.J. Kenny Index) maintained by Standard & Poor’s Securities Evaluations Inc.
The Agency may prepay any Revolving Loan, in whole or in part, on any Business Day, without cost, penalty or premium, provided written notice is provided by the Agency to the Bank in the form of Exhibit I hereto not later than 8:00 a.m., California time; provided further that any Tax-Exempt SIFMA Rate Loans may only be prepaid on the last day of a SIFMA Accrual Period, or if such day is not a Business Day, the next succeeding Business Day.

More Definitions of SIFMA Rate

SIFMA Rate means, on any date, a rate determined on the basis of the seven-day high grade market index of tax-exempt variable rate demand obligations, as produced by Municipal Market Data and published or made available by SIFMA or any Person acting in cooperation with or under the sponsorship of SIFMA and acceptable to the Bank and effective from such date. In the event Municipal Market Data no longer produces an index satisfying the requirements of the preceding sentence, the SIFMA Rate (a/k/a, the “SIFMA Municipal Swap Index”) shall be deemed to be the S&P Weekly High Grade Index, or if either such index is not available, such other similar national index as reasonably designated by the Bank.

SIFMA Rate means for any day the level of the most recently effective index rate which is compiled from the weekly interest rate resets of tax-exempt variable rate issues included in a database maintained by Municipal Market Data which meet specific criteria established from time to time by the Securities Industry and Financial Markets Association (“SIFMA”) and is issued on Wednesday of each week, or if any Wednesday is not a U.S. Government Securities Business Day (as defined herein), the next succeeding U.S. Government Securities Business Day. If such index is no longer published or otherwise not available, the SIFMA Rate for any day will be 67% of Three-Month LIBOR Rate or, if the Three-Month LIBOR Rate is not published or otherwise made available, 67% of the Treasury Rate (each as defined herein). If at any time neither such index is available, the Calculation Agent shall use instead an index that the Calculation Agent, after consultation with the Authority, determines most closely approximates the SIFMA index.

SIFMA Rate means, on any date, a rate determined on the basis of the seven-day high grade market index of tax-exempt variable rate demand obligations, as produced by Municipal

SIFMA Rate means, for each Indexed Floating Rate Interest Accrual Period, the interest rate reported on the SIFMA Index on the respective Indexed Floating Rate Determination Date. If the interest rate reported on the SIFMA Index is less than zero, the SIFMA Index shall be deemed to be zero for purposes of this Supplemental Indenture No. 35.

SIFMA Rate means, for any day, the level of the most recently effective index rate which is compiled from the weekly interest rate resets of tax-exempt variable rate issues included in a database maintained by Municipal Market Data which meet specific criteria established from time to time by the Securities Industry and Financial Markets Association ("SIFMA") and is issued on Wednesday of each week, or if any Wednesday is not a

SIFMA Rate has the meaning set forth in the Bond.