Variable Rate Bond definition

Variable Rate Bond means, as of any date of determination, any Bond on which the interest rate borne thereby may vary during any part of its remaining term.

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Variable Rate Bond means any Bond not bearing interest throughout its term at a specified rate or specified rates determined at the time of issuance of the Series of Bonds of which such Bond is one.

Variable Rate Bond means a Thirty-Sixth Resolution Bond bearing interest at a rate which is not fixed to the maturity of such Thirty-Sixth Resolution Bond.

Examples of Variable Rate Bond in a sentence

The rights of the Corporation hereunder are separate from and in addition to any rights that any holder of any Variable Rate Bond may have under the terms of such Variable Rate Bond or any Related Document or otherwise.
Any sale of a Variable Rate Bond or portion thereof shall be without recourse to the seller and without representation or warranty of any kind except as may be required by law.
The Corporation agrees that, so long as this Agreement is in effect and has not terminated, the holders of the Variable Rate Bonds, the Issuer and the Borrower are express beneficiaries of this Agreement and, as such, any holder of a Variable Rate Bond, the Issuer and the Borrower on behalf of any such holder shall have the right to bring suit against the Corporation to enforce this Agreement should the Corporation fail to perform any of its obligations hereunder.
The Corporation agrees that, so long as this Agreement is in effect and has not terminated, the holders of the Variable Rate Bonds and the Issuer are express beneficiaries of this Agreement and, as such, any holder of a Variable Rate Bond and the Issuer on behalf of any such holder shall have the right to bring suit against the Corporation to enforce this Agreement should the Corporation fail to perform any of its obligations hereunder.
The Corporation agrees that, so long as this Agreement is in effect and has not terminated, the holders of the Variable Rate Bonds are express beneficiaries of this Agreement and, as such, any holder of a Variable Rate Bond shall have the right to bring suit against the Corporation to enforce this Agreement should the Corporation fail to perform any of its obligations hereunder.

More Definitions of Variable Rate Bond

Variable Rate Bond means any Revenue Bond that does not bear interest throughout its term at a fixed rate, but that does bear interest at a rate that, during part or the entirety of the term of such Revenue Bond, varies from time to time based upon a formula or other method of determination set forth in the applicable Supplemental Indenture, subject to a maximum rate of interest set forth therein. Once the rate of interest on any Revenue Bond that had been a Variable Rate Bond becomes fixed for the balance of the period until its maturity that Revenue Bond will cease to be a Variable Rate Bond. A Revenue Bond will not be deemed a Variable Rate Bond solely on the basis that the rate of interest thereon may be adjusted if such interest becomes includable in gross income for purposes of federal income taxation.

Variable Rate Bond means a Thirty-Seventh Resolution Bond bearing interest at a rate which is not fixed to the maturity of such Thirty-Seventh Resolution Bond.

Variable Rate Bond means a Thirty-Second Resolution Bond bearing interest at a rate which is not fixed to the maturity of such Thirty-Second Resolution Bond.

Variable Rate Bond means a Fortieth Resolution Bond bearing interest at a rate which is not fixed to the maturity of such Fortieth Resolution Bond.

Variable Rate Bond means a Thirty-Fourth Resolution Bond bearing interest at a rate which is not fixed to the maturity of such Thirty-Fourth Resolution Bond.

Variable Rate Bond means any Bond not bearing interest throughout its term at a specified rate or specified rates determined at the time of initial issuance of such Bond.

Variable Rate Bond means a Bond the interest rate on which is an adjustable rate which varies from time to time as provided therein and in the Series Resolution pursuant to which such Bond is issued.