Common use of CMS Rate Determination for Floating Rate Notes Clause in Contracts

CMS Rate Determination for Floating Rate Notes. Where CMS Rate Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period will, subject as provided below, be determined by the Calculation Agent (as specified in the applicable Final Terms) by reference to the following formula: (CMS Rate x Multiplier) plus Margin If the CMS Screen Page is not available, the Issuer or an agent appointed by it shall request each of the CMS Reference Banks to provide its quotation for the Relevant Swap Rate at approximately the Specified Time on the Interest Determination Date in question. If at least three of the CMS Reference Banks provide the Issuer or an agent appointed by it with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If on any Interest Determination Date less than three or none of the CMS Reference Banks provides the Issuer or an agent appointed by it with such quotations as provided in the preceding paragraph, the CMS Rate shall be determined by the Issuer or an agent appointed by it in good faith on such commercial basis as considered appropriate in its absolute discretion, in accordance with standard market practice. For the purposes of this sub-paragraph (B):

CMS Rate Determination for Floating Rate Notes. (a) Where CMS Rate Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period will, subject as provided below, be determined by the Calculation Agent (as specified in the applicable Final Terms) by reference to the following formula: (CMS Rate x Multiplier) plus Margin If the CMS Screen Page is not available, the Issuer or an agent appointed by it shall request each of the CMS Reference Banks to provide its quotation for the Relevant Swap Rate at approximately the Specified Time on the Interest Determination Date in question. If at least three of the CMS Reference Banks provide the Issuer or an agent appointed by it with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If on any Interest Determination Date less than three or none of the CMS Reference Banks provides the Issuer or an agent appointed by it with such quotations as provided in the preceding paragraph, the CMS Rate shall be determined by the Issuer or an agent appointed by it Calculation Agent in good faith on such commercial basis as considered appropriate in its absolute discretion, in accordance with standard market practice. . (b) For the purposes of this sub-paragraph (Bsubclause 7.2(B)(a):

CMS Rate Determination for Floating Rate Notes. (a) Where CMS Rate Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period will, subject as provided below, be determined by the Calculation Agent (as specified in the applicable Final Terms) by reference to the following formula: (CMS Rate x Multiplier) plus Margin If the CMS Screen Page is not available, the Issuer or an agent appointed by it Calculation Agent shall request each of the CMS Reference Banks to provide the Calculation Agent with its quotation for the Relevant Swap Rate at approximately the Specified Time on the Interest Determination Date in question. If at least three of the CMS Reference Banks provide the Issuer or an agent appointed by it Calculation Agent with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If on any Interest Determination Date less than three or none of the CMS Reference Banks provides the Issuer or an agent appointed by it Calculation Agent with such quotations as provided in the preceding paragraph, the CMS Rate shall be determined by the Issuer or an agent appointed by it Calculation Agent in good faith on such commercial basis as considered appropriate by the Calculation Agent in its absolute discretion, in accordance with standard market practice. . (b) For the purposes of this sub-paragraph (Bsubclause 7.2(B)(a):

CMS Rate Determination for Floating Rate Notes. Where CMS Rate Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period will, subject as provided below, be determined by the Calculation Agent (as specified in the applicable Final Terms) by reference to the following formula: (CMS Rate x Multiplier) plus Margin If the CMS Screen Page is not available, the Issuer or an agent appointed by it Calculation Agent shall request each of the CMS Reference Banks to provide the Calculation Agent with its quotation for the Relevant Swap Rate at approximately the Specified Time on the Interest Determination Date in question. If at least three of the CMS Reference Banks provide the Issuer or an agent appointed by it Calculation Agent with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If on any Interest Determination Date less than three or none of the CMS Reference Banks provides the Issuer or an agent appointed by it Calculation Agent with such quotations as provided in the preceding paragraph, the CMS Rate shall be determined by the Issuer or an agent appointed by it Calculation Agent in good faith on such commercial basis as considered appropriate by the Calculation Agent in its absolute discretion, in accordance with standard market practice. For the purposes of this sub-paragraph (BC):