Calculation Agent Determination Standard. Whenever the Calculation Agent is required to act, make a determination or to exercise judgment in any way as a result of an Administrator/Benchmark Event under the Terms and Conditions of Structured Notes (and notwithstanding any statement to the contrary in the Terms and Conditions of Structured Notes), it will do so (i) in good faith and in a commercially reasonable manner and by reference to any Relevant Market Data and (ii) in a way that does not
Calculation Agent Determination Standard. Whenever the Calculation Agent is required to act, make a determination or to exercise judgment in any way as a result of an Administrator/Benchmark Event under the Terms and Conditions of Structured Notes (and notwithstanding any statement to the contrary in the Terms and Conditions of Structured Notes), it will do so: (i) in good faith and in a commercially reasonable manner and by reference to any Relevant Market Data; and (ii) in a way that does not: (A) result in it being, or will not be, unlawful at any time under any applicable law or regulation which may be applicable in the determination of the Relevant Benchmark in accordance with any applicable fallback (where it would be unlawful were a determination to be made at such time); (B) contravene any applicable licensing requirements which may be applicable in the determination of the Relevant Benchmark in accordance with any applicable fallbacks (or where it would not contravene those licensing requirements were a determination to be made at such time); or (C) subject the Calculation Agent, the Issuer, the Guarantor (if applicable) or their respective affiliates to material additional regulatory obligations.
Calculation Agent Determination Standard. Whenever the Calculation Agent is required to act, make a determination or to exercise judgment in any way as a result of a Benchmark Trigger Event under these Conditions (and notwithstanding any statement to the contrary in the Terms and Conditions of Structured Notes), it will do so (i) in good faith and in a commercially reasonable manner and by reference to any Relevant Market Data and (ii) in a way that does not (A) result in it being, or will not be, unlawful at any time under any applicable law or regulation which may be applicable in the determination of the Relevant Benchmark in accordance with any applicable fallback (where it would be unlawful were a determination to be made at such time), (B) contravene any applicable licensing requirements which may be applicable in the determination of the Relevant Benchmark in accordance with any applicable fallbacks (or where it would not contravene those licensing requirements were a determination to be made at such time) or (C) subject the Calculation Agent, the Issuer, the Guarantor or their affiliates to material additional regulatory obligations.
