Examples of Independent Adviser in a sentence
If the Independent Adviser is unable to determine the quantum of, or a formula or methodology for determining, such Adjustment Spread, then the Successor Rate or Alternative Rate (as applicable) will apply without an Adjustment Spread.
For the avoidance of doubt, this paragraph shall apply to the relevant next succeeding Interest Period only and any subsequent Interest Periods are subject to the subsequent operation of, and to adjustment as provided in, the first paragraph of this Condition 6.4(a) (Independent Adviser).
None of the Paying Agents or the Calculation Agent shall be responsible or liable for any action or inaction of the Independent Adviser or in respect of the determination of any Successor Rate or Alternative Rate or any Adjustment Spread or Benchmark Amendments.
In making such determination, the Independent Adviser appointed pursuant to this Condition 6.4 (Benchmark discontinuation) shall act in good faith and in a commercially reasonable manner and in consultation with the Issuer.
In the absence of fraud and gross negligence, the Independent Adviser shall have no liability whatsoever to the Issuer, the Paying Agents, the Noteholders or the Couponholders for any determination made by it pursuant to this Condition 6.4 (Benchmark discontinuation).