Examples of Weekly Rate Period in a sentence
The Bonds shall be issued as fully registered bonds in (i) denominations of $100,000 and any integral multiple of $5,000 in excess of $100,000 during any Bank-Bought Rate Period or Weekly Rate Period and (ii) denominations of $5,000 and any integral multiples thereof during any Long-Term Rate Period or Adjustable Rate Period.
During any Daily Rate Period, Weekly Rate Period or Flexible Rate Period, interest on the related Bonds shall be computed upon the basis of a 365 or 366-day year, as applicable, for the number of days actually elapsed.
The Remarketing Agent shall provide the Trustee with written notification on the first day of each Weekly Rate Period of each Weekly Rate as so determined.
Thereafter, each Weekly Rate shall apply to the period commencing on each Wednesday and ending on the succeeding Tuesday; provided, however, if a Weekly Rate Period shall end on a day other than Tuesday, the last Weekly Rate for such Weekly Rate Period shall apply to the period commencing on the Wednesday preceding the last day of such Weekly Rate Period and ending on such last day.
The first Weekly Rate determined for each Weekly Rate Period shall apply to the period commencing on the first day of such period and ending on the succeeding Tuesday.