Variable Period definition
Examples of Variable Period in a sentence
If this contract is issued as a Variable Period Certain Annuity, the Beneficiary may elect to receive the withdrawal value of any remaining Guaranteed Payments at any time.
If the Borrower elects to have the Bonds bear interest at a Variable Rate or fails to make such election, the Borrower shall be deemed to have elected to have the Bonds bear interest at a Variable Rate determined in accordance with the procedures set forth in subsection (b) of this Section commencing on the day immediately following the last day of the Reset Period, in which event there shall be no mandatory sinking fund redemption schedule for the Bonds during the succeeding Variable Period.
During the Variable Period, additional interest will accrue for each day that such payment is delayed as a result thereof, and interest shall be decreased for each day that such payment is accelerated as a result of the next succeeding Business Day falling in the next calendar year (provided, however, the next succeeding Interest Period shall commence upon the Interest Payment Date).
If all of the Bonds shall have been called for redemption during any Variable Period, the Bonds may continue to be remarketed until the redemption date, provided the purchasers of such Bonds are given notice of the call for redemption prior to purchase of any Bonds.
During the Variable Period, additional interest will accrue for each day that such payment is delayed as a result thereof, and interest shall be decreased for each day that such payment is accelerated as a result of the next succeeding Business Day falling in the next calendar year (provided, however, the next succeeding Distribution Period shall commence upon the Distribution Date).
If the contract is issued as a Variable Period Certain Annuity, the Beneficiary may elect to receive the withdrawal value of any remaining Guaranteed Payments at any time.
Following a Variable Rate Adjustment Date, there shall be no mandatory sinking fund redemption schedule for the Bonds during the succeeding Variable Period.
The amount of Distributions payable for each Distribution Period during the Fixed Period shall be computed on the basis of a 360-day year and twelve 30-day months, and during the Variable Period, on the basis of a 360-day year and the actual number of days elapsed in the relevant Distribution Period.
Aastrom shall have no obligation to purchase finished goods, work in process or raw materials that in its reasonable determination are discrepant or deficient per the Specifications or that are outside the Frozen Period or Variable Period referenced in Sections 4.2.1 or 4.2.2 above.
The Bonds shall be issued in the initial aggregate principal amount of $13,600,000, and shall be designated “City of San José, California, Variable Rate Demand Multifamily Housing Revenue Bonds (Brookwood Terrace Family Apartments), Series 2009B” during any Variable Period, and shall be designated “City of San José, California, Multifamily Housing Revenue Bonds (Brookwood Terrace Family Apartments), Series 2009B” during any Reset Period or Fixed Rate Period.