Stepped Rate definition

Stepped Rate means the per annum rate of interest for the Bonds during the Stepped Rate Period(s) as specified in an Officer’s Pricing Certificate, which Stepped Rate shall never exceed the Maximum Rate.
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Stepped Rate means the rate or rates of interest applicable with respect to any [202_ Series Bonds] should insufficient funds be available to purchase such [202_ Series Bonds] in connection with a mandatory tender at the end of an [Index] [Term] Rate Period during which such [202_ Series Bonds] is not supported by a Credit Support Instrument, as specified by the Authority in the Pricing Notice delivered in connection with the Conversion of such [202_ Series Bonds] to a Term Rate Period or an Index Rate Period or with the continuation of an [Index] [Term] Rate Period with respect to such [202_ Series Bonds] pursuant to the terms of the Senior Indenture. If no Stepped Rate was specified in the Pricing Notice relating to the expiring [Index] [Term] Rate Period for such [202_ Series Bonds], and upon issuance with respect to the initial [Index] [Term] Rate Period for the [202_ Series Bonds], the Stepped Rate will be: (a) for the period from and including the Failed Tender Date to but excluding the ninetieth (90th) day thereafter, a per annum interest rate equal to the [Stepped Rate Index] plus 2.50%; (b) for the period from and including the ninetieth (90th) day after the Failed Tender Date to but excluding the one hundred eightieth (180th) day after the Failed Tender Date, a per annum interest rate equal to the greater of (i) the [Stepped Rate Index plus 5.00%] or (ii) 7.50%; and (c) thereafter, the Maximum Interest Rate; provided that the Stepped Rate shall never be less than the rate of interest applicable to such [202_ Series
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Stepped Rate means the rate or rates of interest applicable with respect to any [202_ Series Bonds] should insufficient funds be available to purchase such [202_ Series Bonds] in connection with a mandatory tender at the end of an [Index] [Term] Rate Period during which such [202_ Series Bonds] is not supported by a Credit Support Instrument, as specified by the Authority in the Pricing Notice delivered in connection with the Conversion of such [202_ Series Bonds] to a Term Rate Period or an Index Rate Period or with the continuation of an [Index] [Term] Rate Period with respect to such [202_ Series Bonds] pursuant to the terms of the Senior Indenture. If no Stepped Rate was specified in the Pricing Notice relating to the expiring [Index] [Term] Rate Period for such [202_ Series Bonds], and
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Examples of Stepped Rate in a sentence

  • The Schedule to the BC Hydro Electric Tariff under which the Customer takes or proposes to take Electricity from BC Hydro pursuant to an Electricity Supply Agreement, being one of Schedule 1823, Transmission Service – Stepped Rate, Schedule 1825, Transmission Service – Time-Of-Use (TOU) Rate, or Schedule 1827, Transmission Service – Rate for Exempt Customers, of the BC Hydro Electric Tariff as amended or replaced from time to time, filed as required by the Utilities Commission Act, S.B.C. 1980, c.

  • Rising Rate Term Share Certificate Accounts are subject to a Stepped Rate.

  • One (1) withdrawal may be made from the Can’t Lose CD without penalty if the initial deposit has been on deposit at least twelve (12) months prior to Stepped Rate CD.

  • Double-Up Term Share Certificate Accounts are subject to a Stepped Rate.

  • Once Your Account is established, You may not make deposits into or withdrawals of principal from Your Account until the maturity of Your SPECIFIC TERMS APPLICABLE TO YOUR DOUBLE-UP TERM CERTIFICATE ACCOUNT Stepped Rate Information.

  • SPECIFIC TERMS APPLICABLE TO YOUR RISING RATE TERM CERTIFICATE ACCOUNT Stepped Rate Information.


More Definitions of Stepped Rate

Stepped Rate means the rate or rates of interest applicable with respect to any 2022 Series B Bonds should insufficient funds be available to purchase such 2022 Series B Bonds in
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Stepped Rate means, initially, the rate specified in the Approval Certificate as the Stepped Rate and thereafter, the interest rate applicable to the Subseries 2019C-2 Bonds during a Stepped Rate Period as determined by the Remarketing Agent at the time of remarketing of the Subseries 2019C-2 Bonds into the then-applicable Term Rate Period that will immediately precede the Stepped Rate Period (if any); provided, however, that the Stepped Rate shall never exceed the Highest Rate.
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Stepped Rate means the per annum rate of interest the Bonds shall bear during the Stepped Rate Period, as specified in the Pricing Certificate.
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Related to Stepped Rate

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by ▇▇▇▇▇ Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Daily Adjusting LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following: