Reset Spread means a spread amount to be determined by the Reset Agent on the tenth (10) Business Day immediately preceding the Purchase Contract Settlement Date.
Reset Spread means (a) in the case of the Reset Rate to be determined on the Initial Remarketing Date, a spread amount to be determined by the Reset Agent on the applicable Reset Announcement Date as the appropriate spread so that the Reset Rate will be the interest rate that the Notes should bear in order for the Applicable Principal Amount of Notes to have an approximate aggregate market value of 100.5% of the Treasury Portfolio Purchase Price on the Initial Remarketing Date and (b) in the case of the Reset Rate to be determined on the Secondary Remarketing Date, a spread amount determined by the Reset Agent on the applicable Reset Announcement Date as the appropriate spread so that the Reset Rate will be the interest rate that the Notes should bear in order for the Notes to have an approximate market value of 100.5% of their principal amount on the Secondary Remarketing Date.
Reset Spread means, if the Notes are remarketed as floating rate notes, the spread, if any, set in a Remarketing, as specified in Section 3.3(a).
Examples of Reset Spread in a sentence
On the Reset Announcement Date the Reset Spread and the Two-Year Benchmark Treasury to be used to determine the Reset Rate will be announced by the Company.
On the Business Day immediately following the Reset Announcement Date, the Preferred Securities Holders will be notified of such Reset Spread and Two-Year Benchmark Treasury by the Company.
In the event of a Successful Remarketing, the Company shall issue a press release through Bloomberg Business News or other reasonable means of distribution stating that such Remarketing was Successful and specifying the Reset Rate or Reset Spread and shall post such information on its website on the World Wide Web.
On the Business Day immediately following the Reset Announcement Date, the Holders of Securities will be notified of such Reset Spread and Two-Year Benchmark Treasury by the Sponsor.
On the applicable Reset Announcement Date, the Reset Spread and the Two-Year Benchmark Treasury or Two and One-Quarter Benchmark Treasury, as applicable, to be used to determine the Reset Rate will be announced by the Company.
More Definitions of Reset Spread
Reset Spread means a spread amount to be determined by the Reset Agent on the tenth (10th) Business Day immediately preceding the Purchase Contract Settlement Date.
Reset Spread has the meaning set forth in Section 2.1(p).
Reset Spread means, if the Securities are remarketed as floating rate notes, the spread, if any, set in a Remarketing, as specified in Section 3.3(a) of the Supplemental Indenture.
Reset Spread means an amount determined by the Reset Agent which, when added to the Applicable Benchmark Treasury in effect on the third Business Day immediately preceding the Reset Date, will produce the rate the Debentures should bear in order to have an approximate market value on the third Business Day immediately preceding the Reset Date of ____% of (a) the Treasury Portfolio Purchase Price, if the Reset Date is the [Initial Reset Date], or (b) their aggregate principal amount if the Reset Date is ___________, 200__; provided that the Reset Rate shall in no event exceed the maximum permitted by applicable law.
Reset Spread means (a) in the case of the Reset Rate to be determined on the Initial Remarketing Date, a spread amount to be determined by the Reset Agent on the applicable Reset Announcement Date as the appropriate spread so that the Reset Rate will be the interest rate that the Senior Notes should bear in order for the Applicable Principal Amount of Senior Notes to have an approximate aggregate market value of 100.5% of the Treasury Portfolio Purchase Price on the Initial Remarketing Date, (b) in the case of the Reset Rate to be determined on the Second Remarketing Date, a spread amount to be determined by the Reset Agent on the applicable Reset Announcement Date as the appropriate spread so that the Reset Rate will be the interest rate that the Senior Notes should bear in order for the Applicable Principal Amount of Senior Notes to have an approximate aggregate market value of 100.5% of the Treasury Portfolio Purchase Price on the Second Remarketing Date, (c) in the case of the Reset Rate to be determined on the Third Remarketing Date, a spread amount to be determined by the Reset Agent on the applicable Reset Announcement Date as the appropriate spread so that the Reset Rate will be the interest rate that the Senior Notes should bear in order for the Applicable Principal Amount of Senior Notes to have an approximate aggregate market value of 100.5% of the Treasury Portfolio Purchase Price on the Third Remarketing Date and (d) in the case of the Reset Rate to be determined on the Final Remarketing Date, a spread amount determined by the Reset Agent on the applicable Reset Announcement Date as the appropriate spread so that the Reset Rate will be the interest rate that the Senior Notes should bear in order for the Senior Notes to have an approximate market value of 100.5% of their principal amount on the Final Remarketing Date.
Reset Spread means, if the Junior Subordinated Debentures are remarked as floating rate notes, the spread, if any, set in a Remarketing, as specified in Section 4.3(a).
Reset Spread means, if the Junior Subordinated Debentures are remarketed as floating rate debentures, the spread, if any, set in a Remarketing, as specified in Section 2.2(a).