Long Term Rate Mode definition

Long Term Rate Mode means, with respect to this Note, the Interest Rate Mode in which the interest rate on this Note is reset in a Long Term Rate Period and interest is paid as provided for such Interest Rate Mode as set forth herein.
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Long Term Rate Mode means the Interest Rate Mode in which the Interest Rate Period is a Long Term Rate Period.
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Long Term Rate Mode. The Interest Rate Period for any Note in the Long Term Rate Mode will be established by the Company (as described in Section 205 below) as a period of more than 364 days and not exceeding the remaining term to the Stated Maturity of such Note; provided, however, that such Interest Rate Period must end on the day prior to an Interest Payment Date for such Note; and provided further that, if so provided in a Note in the Long Term Rate Mode and specified at the time of remarketing into a Long Term Rate Period, the Company may shorten the Interest Rate Period and provide for payment of a premium, if any, in respect thereof for any such Note upon written notice to the Remarketing Agent and the Trustee not less than thirty (30) days prior to the date upon which such shortened Interest Rate Period shall expire. Promptly upon receipt of such notice and, in any case, not later than the close of business on such date, the Trustee will transmit such information to DTC in accordance with DTC's procedures as in effect from time to time. In such case, the next Interest Rate Adjustment Date otherwise set forth in such Note shall instead be the Business Day immediately following the expiration of such Interest Rate Period. The interest rate, or Spread (if any) and Spread Multiplier (if any) for any Note in the Long Term Rate Mode will be determined not later than 11:50 a.m., New York City time, on the Interest Rate Adjustment Date for such Notes (subject to Section 207), which is the first day of the Interest Rate Period for such Note. If any Note is subject to early remarketing as provided above, the Interest Rate Period may be shortened by the Company to end on any date on or after the Initial Early Remarketing Date, if any, specified in the Note, upon prior written notice as provided above. On or after the Initial Early Remarketing Date, if any, on the Interest Rate Adjustment Date relating to such shortened Interest Rate Period for such Note, the Company will pay a premium to the tendering Beneficial Owner of the Note, together with accrued interest, if any, thereon at the applicable rate payable to such Interest Rate Adjustment Date. Unless otherwise specified in the Note, the premium shall be an amount equal to the Initial Early Remarketing Premium specified therein (as adjusted by the Annual Early Remarketing Premium Percentage Reduction specified therein, if applicable), multiplied by the principal amount of the Note subject to early remarketing. The Initial Early...
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Examples of Long Term Rate Mode in a sentence

  • The interest rate, or Spread (if any) and Spread Multiplier (if any), for any Note in the Long Term Rate Mode shall be determined not later than 11:50 a.m., New York City time, on the Interest Rate Adjustment Date for such Note, which is the first day of each Interest Rate Period for such Note.

  • Conversions: As long as the Remarketed Notes are in the Short Term Rate Mode or the Long Term Rate Mode, the Company may change the Interest Rate Mode or Interest Rate Period at its option in the manner described in the Remarketed Notes.

  • Any Notes in the Long Term Rate Mode are subject to redemption at the option of the Company at the times and upon the terms specified at the time of conversion to or within such Long Term Rate Mode.

  • Interest on Notes bearing interest at a fixed rate in the Long Term Rate Mode or SPURS Mode will be computed on the basis of a year of 360 days consisting of twelve 30-day months.

  • This Note may be converted at the option of the Company to the Commercial Paper Term Mode, Long Term Rate Mode or SPURS Mode on any Interest Rate Adjustment Date for this Note in accordance with the procedures set forth in the Indenture, and will be subject to mandatory tender by the beneficial owner hereof as described herein on such Interest Rate Adjustment Date.

  • Thereafter, each Note at the option of the Company will bear interest in the Commercial Paper Term Mode, the Long Term Rate Mode or the SPURS Mode.

  • The Interest Rate Period for any Note in the Long Term Rate Mode shall be established by the Company (as described in Section 207 hereof) as a period of more than 364 days and not exceeding the remaining term to the Stated Maturity of such Note (a "Long Term Rate Period").

  • If the Initial SPURS Agent does not purchase the Notes on the Initial SPURS Remarketing Date, thereafter each Note shall bear interest at a rate or rates in a new SPURS Mode, a Long Term Rate Mode or a Commercial Paper Term Mode if remarketed as provided for in Section 209 hereof, or otherwise shall be redeemed by the Company as provided for under Section 210(b) hereof.

  • Interest on Notes bearing interest at a fixed rate in the Long Term Rate Mode or MAPS Mode will be computed on the basis of a year of 360 days consisting of twelve 30-day months.

  • Each Note in the Commercial Paper Term Mode may be converted at the option of the Company to the Long Term Rate Mode or the REPS Mode on any Interest Rate Adjustment Date upon receipt not less than ten (10) days prior to such Interest Rate Adjustment Date by the Remarketing Agent and the Trustee of a Conversion Notice from the Company.


More Definitions of Long Term Rate Mode

Long Term Rate Mode means the Interest Rate Mode in which the interest rate on this Note is reset in a Long Term Rate Period and interest is paid as provided for such Interest Rate Mode as set forth herein.
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Long Term Rate Mode means, with respect to any Note, the Interest Rate Mode in which the interest rate on such Note is reset in a Long Term Rate Period and interest is paid as provided for such Interest Rate Mode in
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Long Term Rate Mode. The Interest Rate Period for any Note in the Long Term Rate Mode shall be established by the Company (as described in Section 207 hereof) as a period of more than 364 days and not exceeding the remaining term to the Stated Maturity of such Note (a "LONG TERM RATE PERIOD"). The interest rate, or Spread (if any) and Spread Multiplier (if any), for any Note in the Long Term Rate Mode shall be determined not later than 11:50 a.m., New York City time, on the Interest Rate Adjustment Date for such Note, which is the first day of each Interest Rate Period for such Note.
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Related to Long Term Rate Mode

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • 5-year Mid-Swap Rate Quotations means the arithmetic mean of the bid and offered rates for the annual fixed leg (calculated on a 30/360 day count basis) of a fixed-for-floating euro interest rate swap transaction which:

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Initial Term Loans means the term loans made by the Initial Term Lenders to the Borrower pursuant to Section 2.01(a)(i).

  • Extended Term Loans has the meaning specified in Section 2.15(a).