Examples of Alternative Rate in a sentence
The Issuer shall use reasonable endeavours to appoint and consult with an Independent Adviser, as soon as reasonably practicable, with a view to the Issuer determining a Successor Rate, failing that an Alternative Rate (in accordance with Condition 3(d)(ii)(B)) and, in either case, an Adjustment Spread, if any (in accordance with Condition 3(d)(iii) and any Benchmark Amendments (in accordance with Condition 3(d)(iv)).
Without prejudice to the Issuer’s obligations under the provisions of this Condition 3(d), the Original Reference Rate and the fallback provisions provided for in Conditions 3(b) will continue to apply unless and until the party responsible for determining the Rate of Interest (as specified in the applicable Final Terms) has been notified of the Successor Rate or the Alternative Rate (as the case may be), and of any Adjustment Spread and/or Benchmark Amendments.
The Issuer shall notify the Principal Paying Agent, the party responsible for determining the Rate of Interest (as specified in the applicable Final Terms) the Paying Agents and, in accordance with Condition 12, the Noteholders, promptly of any Successor Rate, Alternative Rate, Adjustment Spread and the specific terms of any Benchmark Amendments, determined under this Condition 3(d).