Examples of Reset Determination Date in a sentence
The interest rate during the Reset Fixed Rate Period will be reset on the Reset Determination Date.
During the Reset Fixed Rate Period, interest on the Securities shall accrue at a fixed per annum rate equal to the applicable U.S. Treasury Rate (as defined below) as determined by the Calculation Agent (as defined below) on the Reset Determination Date (as defined below), plus [ ]% (the “ Reset Fixed Rate”).
The Senior Notes shall bear interest from (and including) [●], 2023 to (but excluding) [·] (the “Reset Date”), at a rate of [●]% per annum, and from (and including) the Reset Date to (but excluding) the Maturity Date (the “Reset Period”), at a rate per annum equal to the applicable U.S. Treasury Rate (as defined below) as determined by the Calculation Agent on the Reset Determination Date (as defined below), plus [●]%.
From (and including) the Reset Date to (but excluding) the Maturity Date specified in the table above (the "Reset Period"), the applicable per annum interest rate (the "Subsequent Interest Rate") will be equal to the sum, as determined by the calculation agent, of the then-prevailing U.S. Treasury Rate (as defined below, such term subject to the provisions described below) on the Reset Determination Date specified in the table above, plus 1.250%.
Notwithstanding the foregoing, if the Company, in its sole discretion, determines on or prior to the Reset Determination Date that the Five-Year U.S. Treasury Rate cannot be determined in the manner described in the immediately preceding paragraph (a “Benchmark Substitution Event”), the Company may, in its sole discretion, designate an unaffiliated agent or advisor (the “Designee”), to determine whether there is an industry-accepted successor rate to the Initial Base Rate.