Weekly Rate Calculation Date definition

Weekly Rate Calculation Date means Wednesday in each calendar week or, if any Wednesday is not a Business Day, the first Business Day preceding such Wednesday.
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Weekly Rate Calculation Date means Tuesday in each calendar week or, if any Tuesday is not a Business Day, the first Business Day preceding such Tuesday and "Weekly Rate Period" means the seven-day period commencing on the first Wednesday following the corresponding Weekly Rate Calculation Date and running through Tuesday of the following calendar week, except that (i) the first Weekly Rate Period commences on the Issuance Date and ends on and includes the first Tuesday occurring after the Issuance Date, (ii) the first Weekly Rate Period following a conversion from a Term Mode to the Weekly Mode commences on the date of such conversion and ends on and includes the first Tuesday occurring after such conversion date and (iii) the last Weekly Rate Period prior to a conversion from the Weekly Mode to a Term Mode or Fixed Mode ends on and includes the last day immediately preceding the date of such conversion. If for any reason the Remarketing Agent does not determine a Weekly Rate for any Weekly Rate Period as aforesaid, or if a court holds a rate for any Weekly Rate Period to be invalid or unenforceable, the Weekly Rate for that Weekly Rate Period will be equal to the Weekly Rate in effect for the immediately preceding Weekly Rate Period. The Weekly Rate for any consecutive Weekly Rate Period for which the Remarketing Agent does not determine a Weekly Rate, or a court holds a rate to be invalid or unenforceable, will be the arithmetic average of the daily 30-day (one-month) dealer (non-finance company) commercial paper rates for the Business Days during the seven-day Monday through Sunday period ending on the Sunday next preceding the first day of such Weekly Rate Period as reported in the weekly statistical release published by the Board of Governors of the Federal Reserve System entitled H.15 (519) for such Business Days; provided that if such statistical release (or a substitute therefor) ceases to be published by the Federal Reserve System, then the dealer commercial paper rates to be used will be the rates published in the money rates section of The Wall Street Journal (or any successor publication) as the rates of high-grade unsecured notes sold through dealers by major corporations in multiples of $1,000 for such Business Days. No notice of Weekly Rates will be given to the Holders of the Bonds; however, the Holders may obtain Weekly Rates from the Trustee or the Remarketing Agent. The determination of the Weekly Rate by the Remarketing Agent will be conclusive and binding upon th...
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Examples of Weekly Rate Calculation Date in a sentence

  • Notice of such Weekly Rate shall be given by the Remarketing Agent to the Trustee by the close of business on the Weekly Rate Calculation Date.

  • Notice of such Weekly Interest Rate shall be given in writing by Remarketing Agent to Borrower, Trustee and Credit Issuer by the close of business on the Weekly Rate Calculation Date.

  • On each Weekly Rate Calculation Date, the Remarketing Agent shall determine the Weekly Rate as the rate which if borne by the Bonds would, in the judgment of the Remarketing Agent, taking into account prevailing financial market conditions, be the lowest interest rate necessary to enable the Remarketing Agent to arrange for the sale of all of the outstanding Bonds at a price equal to the principal amount thereof plus accrued interest thereon.

  • The Weekly Rate for any consecutive succeeding Weekly Rate Period for which the Remarketing Agent does not determine a Weekly Rate, or a court holds a rate to be invalid or unenforceable, shall be the rate per annum equal to 115% of the interest rate per annum for 30-day commercial paper having a rate of A-2/P-2 as reported in the Wall Street Journal on such Weekly Rate Calculation Date.

  • The Remarketing Agent shall file such certification with the Trustee by the close of business on the Weekly Rate Calculation Date.

  • Notice of such Weekly Rate shall be given by the Remarketing Agent to the Trustee in writing by the close of business on the Weekly Rate Calculation Date.

  • Each such Weekly Rate shall be determined by the Remarketing Agent on the Weekly Rate Calculation Date and shall be provided by the Remarketing Agent in writing to the Paying Agent by the close of business on that same day.

  • For each Weekly Rate Period and so long as the Bonds are in the Weekly Mode, the interest rate on the Bonds shall be the current market rate determined by the Remarketing Agent on the immediately preceding Weekly Rate Calculation Date, in accordance with this Section.

  • For each Weekly Rate Period and so long as the Bonds are in the Weekly Mode, the interest rate on the Bonds shall be the current market rate determined by the Indexing Agent on the immediately preceding Weekly Rate Calculation Date, in accordance with this Section.

  • For each Weekly Rate Period, the interest rate on the Notes in the Weekly Mode shall be the current market rate determined by Remarketing Agent on the immediately preceding Weekly Rate Calculation Date, in accordance with this Section.

Related to Weekly Rate Calculation Date

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.

  • RMB Rate Calculation Date means the day which is two RMB Rate Calculation Business Days before the due date for payment of the relevant Renminbi amount under the Conditions.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Rate Calculation Date means the day which is two Rate Calculation Business Days before the due date of the relevant amount under these Conditions;

  • Weekly Rate Period means any period of time during which a Group of 2024 Series A Variable Rate Bonds bears interest at the Weekly Rate.