Examples of Variable Rate Indebtedness in a sentence
The amount transferred or disbursed to any Debt Service Account pursuant to subsection (d) of this Section with respect to interest on Variable Rate Indebtedness shall be determined in a manner consistent with the Debt Service Calculation Assumption.
The Variable Rate Indebtedness may provide that the Holder of any such Bond may demand payment of principal and interest within a stated period after delivering notice to a designated agent for the Authority and providing a copy of the notice with the tender of the Variable Rate Indebtedness to such agent.
If the Variable Rate Indebtedness shall not be resold or redelivered within a stated period, the agent for the Authority may be authorized to draw upon a previously executed Enhancement Facility for payment of interest and principal for a particular Series of Variable Rate Indebtedness to which such Enhancement Facility shall pertain.
The designated agent for the Authority, in accordance with the terms of a remarketing agreement, may provide for the resale or redelivery of the Variable Rate Indebtedness on behalf of the Authority at a price provided for in such agreement.
Prior to the issuance of Variable Rate Indebtedness, the applicable Supplemental Agreement shall specify, without limitation, the interest rate calculation methods and any conversion features, and any Enhancement Facility which may be drawn upon to make principal and interest payments on the Variable Rate Indebtedness.