Variable Rate Obligations definition

Variable Rate Obligations means any Second Lien Bonds issued with a variable, adjustable, convertible, or other similar interest rate which changes prior to the final maturity date of the Second Lien Bonds, and any City Payments or Reciprocal Payments under a Parity Exchange Agreement for which the interest portion of the payment is based on a rate that changes during the term of the Exchange Agreement.
Variable Rate Obligations means Parity Obligations that bear interest at a rate per annum which is subject to adjustment so that the actual rate of interest is not ascertainable at the time such Parity Obligations are issued; provided, however, that upon the conversion of the rate of interest on a Variable Rate Obligation to a fixed rate of interest (whether or not the interest rate thereon is subject to conversion back to a variable rate of interest), such Parity Obligation shall not be treated as a “Variable Rate Obligation” for so long as such Parity Obligation bears interest at a fixed rate.
Variable Rate Obligations means any Bonds issued with a variable, adjustable, convertible, or other similar interest rate which changes during the term of the Bonds, and any City Payments or Reciprocal Payments under a Parity Derivative Product for which the interest portion of the payment is based on a rate that changes during the term of the Derivative Product.

Examples of Variable Rate Obligations in a sentence

  • The Estimated Average Interest Rate for Variable Rate Obligations shall be calculated as provided in this Section.

  • Variable Rate Obligations shall bear interest from the date of computation until maturity at their Estimated Average Interest Rate.

  • For any Series of Variable Rate Obligations that have been outstanding for at least 52 weeks at the end of the period described in Section 5.5(A)(1), if the actual, annualized rate on that Series during that 52 week period is greater than the average, annualized rate described in Section 5.5(A)(1), the Estimated Average Interest Rate for that Series means the average of the actual rates on that Series during that 52 week period, expressed as an annualized interest rate.

  • The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments.Floating and Variable Rate Obligations Risk.

  • For example: The City will determine the Estimated Average Interest Rate as of April 1, 2004, and that Estimated Average Rate shall be used to set the rates that are collected in the Fiscal Year 2004-2005 (the Fiscal Year that begins July 1, 2004) for all Variable Rate Obligations that are Outstanding during that Fiscal Year.


More Definitions of Variable Rate Obligations

Variable Rate Obligations means Non-Ad Valorem Revenue Obligations issued with a variable, adjustable, convertible or other similar rate which is not fixed in percentage at the date of issue for the entire term thereof.
Variable Rate Obligations means any Bonds or Subordinate Obligations which are designated by the Supplemental Indenture for such Series of Bonds or Subordinate Obligations to bear interest at a variable rate of interest.
Variable Rate Obligations means any Obligation the interest rate on which may fluctuate from time to time subsequent to the time of incurrence. Variable Rate Obligations may include, without limitation, (a) Tender Obligations; (b) commercial paper Obligations which are intended to be issued and refunded or refinanced periodically; (c) Obligations under a direct purchase note program which are intended to be issued and refunded or refinanced periodically;(d) Obligations that bear interest at a fixed rate, but with respect to which the Issuer has entered into a Hedge Agreement that provides for the Issuer to pay a variable interest rate thereunder; provided, that the notional amount under the Hedge Agreement is equal to or greater than the Outstanding principal amount of the related Obligations and reduces in amounts and on the dates that the related Obligations mature; or (e) other forms of Obligations on which the rate of interest fluctuates or is subject to being set or reset from time to time.
Variable Rate Obligations means Obligations which bear interest at a Variable Interest Rate.
Variable Rate Obligations means any Bonds or Subordinate Obligations, which may be either Serial Obligations, Term Obligations, Capital Appreciation Obligations or Option Obligations, issued with a variable, adjustable, convertible, or other similar interest rate that is not fixed for the entire term thereof at the date of issue or is not, as of the date of issuance, determinable by percentage through maturity.
Variable Rate Obligations means, as of any date of calculation pursuant to Section 516 hereof, Bonds, Outstanding Parity Obligations or proposed Additional Bonds the terms of which are such that interest thereon for any future period of time is expressed to be calculated at a rate which is not susceptible of precise determination.
Variable Rate Obligations means any Additional Obligations which may, in the future, bear interest at rates which cannot be determined with specificity on their original incurrence.