Reset Rate

Reset Rate. Means the lowest interest rate per annum (rounded to the nearest one-thousandth (0.001) of one percent per annum), as determined by the Reset Agent, that the Notes shall bear in order for the Notes to have a market value at the Remarketing Date or any Subsequent Remarketing Date, as the case may be, of at least 100.25% of the Remarketing Value, assuming, for this purpose, even if not true, that all of the Notes are held as components of... Normal Units and will be remarketed. View More

Reset Rate. Means the interest rate per annum with respect to the Senior Notes that is determined by the Remarketing Agent pursuant to the Remarketing Agreement as follows: (a) in connection with a Successful Remarketing, the interest rate determined by the Remarketing Agent sufficient to allow it to remarket the Remarketing Senior Notes at a price at least equal to the Remarketing Value; (b) upon the occurrence of a Failed Remarketing, the Two-Year Benchmark Rate plus the Applicable... Spread; or (c) if (i) the holders of Pledged Senior Notes have elected not to have their Senior Notes remarketed in accordance with Section 5.3(e) of the Purchase Contract Agreement and (ii) none of the holders of Separated Senior Notes have elected to have their Senior Notes remarketed in accordance with paragraph 19(i)(C) of this Officers' Certificate and Section 5.7 of the Pledge Agreement, the Reset Rate shall be the rate determined, in its sole discretion, by the Remarketing Agent, as the rate that, in its judgment, would have been established had a Remarketing being held on the Final Remarketing Date. View More

Reset Rate. A rate equal to the Treasury Yield plus 700 basis points.