SPURS Mode definition

SPURS Mode means, with respect to any Note, the Interest Rate Mode in which such Note shall bear interest and be subject to remarketing as "Structured PUtable Remarketable Securities" ("SPURS") as provided for in Article Three hereof.
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SPURS Mode means, with respect to any Note, the Interest Rate Mode in which such Note shall bear interest and be subject to remarketing as "Structured PUtable Remarketable Securities" ("SPURS") as provided for in Article Three hereof. "SPURS Period" shall mean, with respect to any Note remarketed by the Initial SPURS Agent on the Initial SPURS Remarketing Date, that portion of the SPURS Rate Period commencing on the Initial SPURS Remarketing Date up to, but excluding, the next succeeding Interest Rate Adjustment Date. "SPURS Rate Period" shall mean an Interest Rate Period for any Note in the SPURS Mode established by the Company as a period of more than 364 days and less than the remaining term to the Stated Maturity of such Note; provided, however, that such Interest Rate Period must end on the day prior to an Interest Payment Date for such Note. The SPURS Rate Period shall consist of the period to and excluding the SPURS Remarketing Date and the period from and including the SPURS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date. "SPURS Remarketing Agreement" shall mean the agreement by and between the Company and the SPURS Agent dated as of the date commencing the applicable SPURS Rate Period that sets forth the rights and obligations of the Company and the SPURS Agent with respect to the remarketing of Notes in the SPURS Mode. "SPURS Remarketing Date" shall mean the date designated by the SPURS Agent, after consultation with the Company, upon which the SPURS Agent may elect to remarket the Notes at the SPURS Interest Rate. "Stated Maturity" shall mean July 15, 2038. "Treasury Bills" shall have the meaning specified in Section 206(b)(6) hereof. "Treasury Rate" shall have the meaning specified in Section 206(b)(6) hereof. "Weekly Rate Period" shall have the meaning specified in Section 204(e)(1) hereof.
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Examples of SPURS Mode in a sentence

  • The Floating Interest Rate Notice must identify by CUSIP number or otherwise the portion of the Note to which it relates and state the Interest Rate Period (or portion thereof, in the case of the SPURS Mode) therefor to which it relates.

  • The interest rate and, in the case of a floating interest rate, the Spread, if any, and the Spread Multiplier, if any, to the SPURS Remarketing Date for this Note in the SPURS Mode will be determined not later than 11:50 a.m., New York City time, on the Interest Rate Adjustment Date for this Note, which for the SPURS Mode is the first day of the SPURS Rate Period for this Note.

  • The Interest Rate Period for any Note in the SPURS Mode will be established by the Company (as described in Section 205 below) as a period of more than 364 days and not exceeding the remaining term to the Stated Maturity of such Note; provided, however, that such Interest Rate Period must end on the day prior to an Interest Payment Date for such Note.

  • Thereafter, each Note at the option of the Company will bear interest in the Commercial Paper Term Mode, the Long Term Rate Mode or the SPURS Mode.

  • The provisions of this Article Three shall apply to any Note in the SPURS Mode.

  • Notes will be purchased on such Interest Rate Adjustment Date in accordance with the procedures set forth in "Remarketing and Settlement" or, as the case may be, "SPURS Mode" below.

  • So long as any Notes are in the SPURS Mode, the provisions set forth in Article Two applicable to the remarketing of Notes generally shall apply to such Notes only to the extent expressly provided in Article Three.

  • This Note may be converted at the option of the Company to the Commercial Paper Term Mode, Long Term Rate Mode or SPURS Mode on any Interest Rate Adjustment Date for this Note in accordance with the procedures set forth in the Indenture, and will be subject to mandatory tender by the beneficial owner hereof as described herein on such Interest Rate Adjustment Date.

  • The Interest Rate Period for this Note in the SPURS Mode will be established by the Company (as described in "Interest Rate" above) as a period of more than 364 days and not exceeding the remaining term to the Stated Maturity of this Note; provided, however, that such Interest Rate Period must end on the day prior to an Interest Payment Date for this Note.

  • Each Note in the SPURS Mode shall bear interest at the annual interest rate established by the SPURS Agent from, and including the Interest Rate Adjustment Date commencing the Interest Rate Period for the SPURS Mode to, but excluding, the date (the "SPURS Remarketing Date") designated at such time by the SPURS Agent after consultation with the Company and set forth in Annex A to the applicable Note.

Related to SPURS Mode

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  • Generator Maintenance Outage means the scheduled removal from service, in whole or in part, of a generating unit in order to perform necessary repairs on specific components of the facility, if removal of the facility meets the guidelines specified in the PJM Manuals.

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  • PNode has the meaning set forth in the CAISO Tariff.

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  • Cathode ray tube or “CRT” means a vacuum tube, composed primarily of glass, which is the visual or video display component of an electronic device. A “used, intact CRT” means a CRT whose vacuum has not been released. A “used, broken CRT” means glass removed from its housing or casing whose vacuum has been released.

  • Nontransient noncommunity water system means a public water system that is not a community water system and that regularly serves at least the same 25 persons over 6 months per year.

  • Gasification means the substoichiometric oxidation or steam reformation of a substance to produce a gaseous mixture containing two or more of the following: (i) oxides of carbon; (ii) methane; and (iii) hydrogen;

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  • Accelerator-produced material means any material made radioactive by a particle accelerator.

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  • Generator Forced Outage means an immediate reduction in output or capacity or removal from service, in whole or in part, of a generating unit by reason of an Emergency or threatened Emergency, unanticipated failure, or other cause beyond the control of the owner or operator of the facility, as specified in the relevant portions of the PJM Manuals. A reduction in output or removal from service of a generating unit in response to changes in market conditions shall not constitute a Generator Forced Outage.

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  • Working voltage means the highest value of an electrical circuit voltage root-mean-square (rms), specified by the manufacturer, which may occur between any conductive parts in open circuit conditions or under normal operating conditions. If the electrical circuit is divided by galvanic isolation, the working voltage is defined for each divided circuit, respectively.

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