reset rate

reset rate

[′rē‚set ‚rāt]
(engineering)
The number of times per minute that the effect of the proportional-position action upon the final control element is repeated by the proportional-speed floating action.
References in periodicals archive ?
75% on class A-7 reset rate notes per criteria instead of the current rate of three-month LIBOR plus 0.
750 percent until, but excluding, November 4, 2021, and thereafter at an annual rate equal to the benchmark reset rate plus 5.
Debashis Dey, Partner and Head of Capital Markets (Middle East) at Clifford Chance, commented: "The issuance marks the first public subordinated debt Tier II transaction for ENBD in several years, and their first use of subordinated Tier II with reset rate mechanics".
Note: they made two payments at the first reset rate that reduced principal with the last of those two payment made on September 15, 2006.
The reset rate and interest payment dates for the Notes will be established, and modified terms of the Notes will be set, on the remarketing date and will be effective on June 1, 2012.
The Reset Rate, interest payment dates, any new maturity date, any optional redemption terms and any changes to the events of defaults will be established on the date of the successful remarketing and become effective on the third business day following the date of a successful remarketing (the "Reset Effective Date").
In connection with a remarketing, the spread on the interest rate on the Convertible Notes may be reset, but in no event will the reset rate of interest be less than the Current Interest Rate (which is currently 0%).
The reset rate notes failed to be remarketed on the reset date, Dec.
Approximately 49% of the notes have floating rates equal to 3-month LIBOR plus a spread, and 4% of the notes are reset rate notes.
The trust consists of 20% taxable auction rate debt, 63% LIBOR floater and 17% reset rate notes that pay interest based on 3 month LIBOR plus a spread.
He prefers floating-rate Treasury notes that reset rates weekly.