Examples of Interest Accrual Period in a sentence
The Issuer hereby appoints the Collateral Administrator as the initial Calculation Agent for purposes of determining the Benchmark for each Interest Accrual Period.
Term SOFR will be determined as described in the definition of "Term SOFR"; provided that Term SOFR for the first Interest Accrual Period will be as set forth in the definition of the term "Term SOFR".
The Calculation Agent shall calculate the Benchmark for each Interest Accrual Period and the Benchmark applicable to each Class of Floating Rate Notes in accordance with and subject to the provisions of the Indenture.
Interest shall be calculated on the day-count basis for the relevant Interest Accrual Period for this Note as provided in the Indenture.
If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine any of the information, as described in subsection (b) below, in respect of any Interest Accrual Period, the Issuer shall promptly appoint another leading bank meeting the qualifications set forth above to act as Calculation Agent.