Term Rate definition

Term Rate means the per annum interest rate with respect to Bonds in the Term Rate Mode determined pursuant to Section 2.09.

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Term Rate means with respect to each Calculation Period during a Term Rate Period, a rate of interest equal to the rate of interest per annum established and certified to the Trustee (with a copy to the Authority, the Registrar and Paying Agent and the Company) by the Remarketing Agent no later than 12:00 noon (New York City time) on and as of the Determination Date as the minimum rate of interest per annum which, in the opinion of the Remarketing Agent, would be necessary on and as of such day to remarket such Bonds in a secondary market transaction at a price equal to the principal amount thereof; provided that such rate of interest shall not exceed the lesser of 110% of the Term Rate Index on and as of such date and the Maximum Allowed Rate.

Term Rate means the rate of interest on a Group of 2021 Series J Variable Rate Bonds described in Section 601 of Appendix A hereto.

Examples of Term Rate in a sentence

• During the existence of a Default, no Loans may be requested as, converted to or continued as Term SOFR Loans without the consent of the Required Lenders, and no Loans may be requested as Alternative Currency Daily Rate Loans, or requested as or continued as Alternative Currency Term Rate Loans without the consent of the Required Tranche Lenders.

• Each Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to another Type, or a continuation of Term SOFR Loans or Alternative Currency Term Rate Loans) submitted by the Parent Borrower shall be deemed to be a representation and warranty by the Parent Borrower that the conditions specified in Sections 4.02(a), (b) and (df) have been satisfied on and as of the date of the applicable Credit Extension.

• Each such notice shall specify the date, currency and amount of such prepayment and the Type(s) of Loans, the Facility and, if applicable, the Tranche to be prepaid and, if Term SOFR Loans or Alternative Currency Term Rate Loans are to be prepaid, the Interest Period(s) of such Loans.

• Multicurrency Tranche Loans may be Base Rate Loans, Daily SOFR Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans, as further provided herein; provided that Multicurrency Tranche Loans that constitute Base Rate Loans shall be available (whether by virtue of incurrence, conversion or otherwise) only to the Parent Borrower.

• If the Parent Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans or Alternative Currency Term Rate Loans in any such Committed Loan Notice, but such notice fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

More Definitions of Term Rate

Term Rate means the per annum interest rate for any 2024 Series B-2 Bond in the Term Rate Mode determined pursuant to Section 2.8(a) of this Series Indenture.

Term Rate. ’ means the rate at which Multi-Modal Bonds bear interest during a Term Rate Period. ‘‘Term Rate Mode’’ means a Rate Mode in which Multi-Modal Bonds bear interest at a Term Rate. ‘‘Term Rate Period’’ means a period commencing on a Conversion Date or a date immediately

Term Rate means the per annum interest rate to be determined for the Bonds and effective for a period of no less than nine (9) months during a Term Rate Period pursuant to Section 3.02(f) of this Order.

Term Rate means for any Interest Period (a) with respect to any Term Rate Loan denominated in US Dollars, a rate per annum equal to Term SOFR with a term equivalent to such Interest Period; (b) with respect to any Term Rate Loan denominated in Canadian Dollars, a rate per annum equal to the Canadian Dollar Offered Rate (“CDOR”), as published by Reuters (or other commercially available source providing quotations of CDOR as designated by the Administrative Agent from time to time if CDOR quotations are not published by Reuters) at or about 10:00 a.m. (Montreal time) on the first day of such Interest Period (or if such day is not a Business Day, then on the immediately preceding Business Day with a term equivalent to such Interest Period); and (c) with respect to any Term Rate Loan denominated in Euro, a rate per annum equal to the Euro interbank offered rate administered by the European Money Markets Institute (or the successor thereto if the European Money Markets Institute is no longer the administrator of such rate) (“EURIBOR”), as published by Reuters (or other commercially available source providing quotations of EURIBOR as designated by the Administrative Agent from time to time if EURIBOR quotations are not published by Reuters) at or about 11:00 a.m., Central European time, two Business Days prior to the commencement of such Interest Period with a term equivalent to such Interest Period; provided that, if the Term Rate would otherwise be less than zero, such Term Rate shall instead be deemed for all purposes of this Agreement to be zero.

Term Rate means the rate established by the Remarketing Agent (as defined in the Indenture) in connection with the Remarketing (as defined in the Indenture) at which interest will accrue on the Debentures and distributions will accrue on the Preferred Securities on and after the Reset Date.

Term Rate means the interest rate on the Bonds established at the time of sale thereof as specified in the second sentence of Section 2.03 hereof, or established in accordance with Section 2.03(c) hereof.

Term Rate means (a) the rate of interest per annum with respect to a Term Rate Mode determined by the Remarketing Agent, on the Interest Rate Determination Date immediately preceding the applicable Interest Rate Adjustment Date, to be the lowest interest rate for the Interest Rate Period commencing on the applicable Interest Rate Adjustment Date and ending on the date determined by the Remarketing Agent, in the judgment of the Remarketing Agent (taking into consideration current transactions and comparable securities with which the Remarketing Agent is involved or of which it is aware and prevailing financial market conditions) at which, as of such Interest Rate Determination Date, the Bonds could be remarketed at par, plus the accrued interest, if any, on the Interest Rate Adjustment Date for that Interest Rate Period; or (b) in the event that the Remarketing Agent has been removed or has resigned and no successor has been appointed, or the Remarketing Agent has failed to determine the Term Rate for whatever reason, or the Term Rate cannot be determined pursuant to clause (a) for whatever reason, the interest rate then in effect with respect to the Bonds, without adjustment; provided that in no event shall the Term Rate exceed the Maximum Rate.