Variable Interest Rate Bond definition

Variable Interest Rate Bond means any Bond that bears a Variable Interest Rate; provided, however, that from and after the date on which the interest rate on such Bond shall have been fixed for the remainder of the term thereof, such Bond shall no longer be a Variable Interest Rate Bond.
Sample 1Sample 2Sample 3
Variable Interest Rate Bond means any Senior Bond or Subordinate Bond that bears a Variable Interest Rate; provided, however, that from and after the date on which the interest rate on such Senior Bond or Subordinate Bond shall have been fixed for the remainder of the term thereof, such Senior Bond or Subordinate Bond shall no longer be a Variable Interest Rate Bond. (Indenture Section 1.01) Summary of Certain Provisions of the IndentureThe following is a summary of certain provisions of the Indenture. Such summary does not purport to be complete and reference is made to the Indenture for full and complete statements of such and all provisions.Granting ClauseIn order to secure the payment of the principal and Redemption Price of and interest on the Bonds and the performance and observance of all of the covenants and conditions contained in the Indenture or in the Bonds, the Corporation has executed and delivered the Indenture and has conveyed, granted, assigned, transferred, pledged, set over and confirmed and granted a security interest in, to the Trustee, its successor or successors and its or their assigns forever, with power of sale, all and singular, the following real and personal property (such property sometimes referred to as the “Trust Estate”):
Sample 1Sample 2
Variable Interest Rate Bond means, for any period of time, any Parity Bond that
Sample 1

Examples of Variable Interest Rate Bond in a sentence

  • Any such Variable Interest Rate Bond debt service reserve fund shall not secure Bonds other than the Variable Interest Rate Bonds for which it is established to secure, and no Variable Interest Rate Bond shall be secured by the Debt Service Reserve Fund established pursuant to the provisions summarized under this caption.

  • Maximum Interest Rate means, with respect to any particular Variable Interest Rate Bond, the numerical rate of interest, if any, set forth in the Series Resolution authorizing such Bond or the Certificate of Determination relating to such Bond as the maximum rate at which such Bond may bear interest at any time.

  • Minimum Interest Rate means, with respect to any particular Variable Interest Rate Bond, a numerical rate of interest, if any, set forth in the Series Resolution authorizing such Bond or the Certificate of Determination relating to such Bonds as the minimum rate at which such Bond may bear interest at any time.

  • Hedge Agreement means any financial arrangement entered into by the Institution with a Counterparty that is or in the nature of an interest rate exchange agreement, an interest rate cap or collar or other exchange or rate protection transaction, in each case executed for the purpose of moderating interest rate fluctuations, reducing interest cost or creating with respect to any Variable Interest Rate Bond the economic or financial equivalent of a fixed rate of interest on such Bond.

  • Minimum Interest Rate means, with respect to any particular Variable Interest Rate Bond, a numerical rate of interest, if any, set forth in the Applicable Series Resolution authorizing such Bond or the Applicable Bond Series Certificate relating to such Bonds as the minimum rate at which such Bond may bear interest at any time.

  • Maximum Interest Rate shall mean, with respect to any particular Variable Interest Rate Bond, a numerical rate of interest, not exceeding twelve percent (12%) per annum, which shall be set forth in the Supplemental Resolution or Series Certificate relating to such Variable Interest Rate Bond, that shall be the maximum rate of interest such Variable Interest Rate Bond may at any time bear.

  • Variable Interest Rate Bond means any Bond which bears a Variable Interest Rate; provided, however, that a Bond the interest rate on which has been fixed for the remainder of the term thereof will no longer be a Variable Interest Rate Bond.

  • Additional funds or accounts may be created for other purposes by any Supplemental Resolution.The Resolution also provides for the creation of a separate Variable Interest Rate Bond Debt Service Reserve Fund for any Series of Variable Interest Rate Bonds.

  • Maximum Interest Rate means, with respect to any particular Variable Interest Rate Bond, the numerical rate of interest, if any, set forth in the Applicable Series Resolution authorizing such Bond or the Applicable Bond Series Certificate relating to such Bond as the maximum rate at which such Bond may bear interest at any time.

  • Maximum Interest Rate means, with respect to any particular Variable Interest Rate Bond, the numerical rate of interest, if any, set forth in the Series Resolution authorizing such Bond or in the Series Certificate relating to such Bond, that shall be the maximum rate at which such Bond may bear interest at any time.


More Definitions of Variable Interest Rate Bond

Variable Interest Rate Bond means any Senior Bond or Subordinate Bond that bears a Variable Interest Rate; provided, however, that from and after the date on which the interest rate on such Senior Bond or Subordinate Bond shall have been fixed for the remainder of the term thereof, such S enior Bond or Subordinate Bond shall no longer be a Variable Interest Rate Bond.
Sample 1

Related to Variable Interest Rate Bond

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • 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.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Fixed Rate Note means any Class A-1 Note, Class A-2a Note, Class A-3 Note or Class A-4 Note.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Floating Rate Note means any Class A-2b Note.

  • Floating Rate Notes means the Class A-2b Notes.

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

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Fixed Rate Notes Together, the Class A-1a Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

  • Stated Interest Rate means with respect to (i) the Class AA Certificates, 3.15% per annum, (ii) the Class A Certificates, 3.50% per annum and (iii) the Class B Certificates, 3.85% per annum.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Interest Rate Cap Provider if any, shall mean the entity listed as the Interest Rate Cap Provider in the Series Term Sheet, in its capacity as obligor under the Class Interest Rate Caps, or if any Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements are obtained pursuant to Section 15, the obligor with respect to such Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements.

  • Weekly Rate means the interest rate on the Bonds established in accordance with Section 2.03(b) hereof.

  • Floating Rate Security means a Debt Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 2.03.

  • Bond Interest Rate means, with respect to any Tranche of Storm Recovery Bonds, the rate at which interest accrues on the Storm Recovery Bonds of such Series or Tranche, as specified in the Series Supplement.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.