Determination of Commercial Paper Rate. If the Base Rate is the Commercial Paper Rate, the Base Rate that takes effect on any Interest Reset Date shall equal the Money Market Yield (as defined in Section 3(n) below) of the rate, for the second Business Day immediately preceding such Interest Reset Date (the "Commercial Paper Interest Determination Date"), for commercial paper having the Index Maturity, as published in H.15(519) (as defined in Section 3(n) below) under the heading "Commercial Paper - Nonfinancial". If the Commercial Paper Rate cannot be determined as described above, the following procedures will apply in determining the Commercial Paper Rate:
Appears in 2 contracts
Samples: Universal Corp /Va/, Universal Corp /Va/
Determination of Commercial Paper Rate. If the Base Rate is the -------------------------------------- Commercial Paper Rate, the Base Rate that takes effect on any Interest Reset Date shall equal the Money Market Yield (as defined in Section 3(n) below) of the rate, for the second Business Day immediately preceding such Interest Reset Date (the "Commercial Paper Interest Determination Date"), for commercial paper -------------------------------------------- having the Index Maturity, as published in H.15(519) (as defined in Section 3(n) below) under the heading "Commercial Paper - Nonfinancial". If the Commercial Paper Rate cannot be determined as described above, the following procedures will apply in determining the Commercial Paper Rate:
Appears in 1 contract
Samples: Universal Corp /Va/
Determination of Commercial Paper Rate. If the Base Interest Rate Basis is the Commercial Paper Rate, the Base Interest Rate Basis that takes effect on any Interest Reset Date shall equal the Money Market Yield (as defined in Section 3(n) below) of the discount rate, for the second Business Day immediately preceding such Interest Reset Date (the "Commercial Paper Interest Determination Date"Date (as defined below), for commercial paper having the Index MaturityMaturity specified on the face hereof, as published in H.15(519) (as defined in Section 3(n) below) under the heading "Commercial Paper - Nonfinancial-- Non-financial". If the Commercial Paper Rate cannot be determined as described abovein this manner, the following procedures will apply in determining the Commercial Paper Rate:
Appears in 1 contract
Samples: American International Group Inc