Variable Rate Bonds definition

Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds.

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Variable Rate Bonds means, as of any date of calculation, Bonds, the interest on which for any future period of time, is to be calculated at a rate which is not susceptible to a precise determination.

Variable Rate Bonds means Bonds issued with a variable, adjustable, convertible or other similar rate which is not fixed in percentage for the entire term thereof at the date of issue.

Examples of Variable Rate Bonds in a sentence

• No failure or delay by the Corporation in exercising any right, power or privilege under or in respect of the Variable Rate Bonds or any other Related Document shall affect the rights, powers or privileges of the Corporation hereunder or shall operate as a limitation or waiver thereof.

• Upon receipt of a Remarketing Notice in accordance with subsection (a), the Corporation shall direct the Trustee to deliver those Variable Rate Bonds held in the account of the Corporation being remarketed by the Remarketing Agent against payment for such Variable Rate Bonds in an amount equal to the Purchase Price plus interest accrued and unpaid.

• From and after the Effective Date, the obligation of the Corporation to purchase Variable Rate Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.09.

• The aggregate principal amount of the Variable Rate Bonds purchased by the Corporation on any Purchase Date shall not exceed the Available Principal Commitment on such date and the aggregate amount of the Purchase Price comprising interest on Variable Rate Bonds purchased by the Corporation on any Purchase Date shall not exceed the lesser of (1) the Available Interest Commitment and (2) the actual amount of interest accrued and unpaid on such Variable Rate Bonds to but excluding such date.

• Any agreement or covenant required herein to be performed by or on behalf of the Corporation shall be for the sole and exclusive benefit of the Trustee, the Issuer and the holders of the Variable Rate Bonds.

More Definitions of Variable Rate Bonds

Variable Rate Bonds means Bonds whose interest rate is not fixed for the entire remaining term of such Bonds, but varies on a periodic basis as specified in the Supplemental Resolution providing for the issuance thereof.

Variable Rate Bonds means Bonds that bear interest at a Variable Rate; provided that, if the interest rate on a Variable Rate Bond is fixed to maturity, such Bond shall no longer be a Variable Rate Bond.

Variable Rate Bonds means, for any period of time, any Bonds which during such period bear interest at a variable rate; provided that Bonds, the interest rate on which has been fixed for the remainder of the term thereof, shall no longer be Variable Rate Bonds.

Variable Rate Bonds means the 202_ Series - Bonds during (i) a Daily Mode Period, a Weekly Mode Period, a Monthly Mode Period, a Quarterly Mode Period, a Term Rate Mode Period (including Initial Term Rate Bonds) or a Semiannual Mode Period, and (ii) the Bank Bonds.

Variable Rate Bonds means, as of any date of calculation, Bonds the terms of which on such date of calculation are such that interest thereon for any future period of time is expressed to be calculated at a rate which is not susceptible of a precise determination.

Variable Rate Bonds means a Series of Series 2016 Bonds issued as obligations bearing interest at variable interest rates, including, but not limited to commercial paper.

Variable Rate Bonds means the 2006 Series C Bonds during a Daily Mode Period, a Weekly Mode Period, a Monthly Mode Period, a Quarterly Mode Period, a Semiannual Mode Period (whether or not in each case such 2006 Series C Bonds are Liquidity Facility Bonds or Unenhanced Variable Rate Bonds) or 2006 Series C Bonds during an Auction Mode Period.