Common use of Determination of Federal Funds Rate Clause in Contracts

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis for this Global Note is the Federal Funds Rate, as indicated on the face hereof, the interest rate payable with respect to this Global Note shall equal the Federal Funds Rate determined as specified on the face hereofherein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of on the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) ), and shall be the rate with respect to such date for U.S. dollar Federal Funds federal funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters 3000 Xtra Service (or any successor servicethereto) (“Reuters”) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date pertaining to such Federal Funds Interest Determination Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related such Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with QuébecProvince, prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent Province are not quoting as mentioned in this sentenceset forth above, the Federal Funds Rate determined as of on such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the The interest rate payable with respect to this Note Security shall equal be calculated by the Calculation Agent with reference to the Federal Funds Rate determined as and the Spread or Spread Multiplier, if any, specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The "Federal Funds Rate for Rate" means, with respect to each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be , the rate with respect to on such date for U.S. dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears on Reuters (", or any successor service) publication or heading. In the event that such rate is not published prior to 3:00 P.M., New York City time, on Reuters Page FEDFUNDS1 (or any other page as may replace the Calculation Date pertaining to such page Interest Determination Date, then the Federal Funds Rate will be the rate on such service) Interest Determination Date for United States dollar federal funds as published in H.15 Daily Update under the heading “EFFECT” or"Federal Funds (Effective)", if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published any successor publication or heading. If by 3:00 P.M., New York City time, on the related such Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in either H.15(519), ) or H.15 Daily Update (or another recognized electronic source by 3:00 P.M.in any successor publications), New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate for that Interest Determination Date shall be the arithmetic mean, as calculated by the Calculation Agent and shall be the arithmetic mean on such Calculation Date, of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to as of 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, -------- however, that if the fewer than three brokers so selected as aforesaid by the ------- Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis specified above is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal will be the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, as specified above. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Rate” means, with respect to any Interest Determination Date”) and shall be , the rate with respect to such date on that day for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite the heading caption “Federal funds (effective)” and that appears as displayed on Reuters (or any successor service) on Reuters Page page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, the rate with respect to such Federal Funds Rate will be the rate on such Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite under the caption “Federal funds (effective)”. .” If such rate does not appear on Reuters Page FEDFUNDS1 or and is not yet published in H.15(519), H.15 Daily Update or another other recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, then the Federal Funds Rate with respect to for such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate determined as of such Interest Determination Date in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall Interest Reset Date will be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall will be the rate with respect to such date for U.S. dollar Federal Funds federal funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Québec prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis Basis, as specified above, is, or is calculated by reference to the Federal Funds Rate, unless otherwise specified above, the interest rate payable "Federal Funds Rate" with respect to this Note shall equal the Federal Funds Rate each Interest Reset Date will be determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined Calculation Agent as of the first Business Day prior to the such Interest Reset Date (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such on that date for U.S. United States dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears ," as displayed on Reuters (or any successor service) Moneyline Telerate on Reuters Page FEDFUNDS1 (page 120 or any other page as may replace such the applicable page on such servicethat service ("Moneyline Telerate Page 120") under the heading “EFFECT” or, if such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120, or is not so published by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, the rate with respect to such on the applicable Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds Federal Funds will be the rate on such Federal Funds Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite under the caption “"Federal funds (effective)”. Funds/Effective Rate." If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet so published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds arranged by three leading brokers of U.S. United States dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to Agent before 9:00 A.M.a.m., New York City time, on the Business Day following such applicable Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such the applicable Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is the Federal Funds Rate, as indicated on the interest rate payable with respect to this Note shall equal face hereof or in the Pricing Supplement, the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) and shall be ), as the rate with respect to on such date for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “Federal funds Funds (effectiveEffective)” and that appears as such rate is displayed on Reuters Moneyline Telerate, Inc. (or any successor service) on Reuters Page FEDFUNDS1 page 120 (or any other page as may replace such page on such service) under the heading (“EFFECT” orMoneyline Telerate Page 120”), or if such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 or is 120 or, if not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date, as published in H.15 Daily Update or such other recognized electronic source used for the purpose of displaying such rate under the heading “Federal Funds (Effective)”. If by 3:00 p.m., New York City time, on the related Calculation Date such rate is not published on Moneyline Telerate Page 120, then the Federal Funds Rate on such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption heading “Federal funds Funds (effectiveEffective)”. If such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related Calculation Datecalculation date, then the Federal Funds Rate with respect to such on the Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents Dealers or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if any of the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified indicated on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) and shall be ), as the rate with respect to on such date for U.S. dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “Federal funds Funds (effectiveEffective),” and that appears as such rate is displayed on Reuters Moneyline Telerate (or any successor service) on Reuters Page FEDFUNDS1 page 120 (or any other page as may replace such page on such service) under the heading (“EFFECT” Moneyline Telerate Page 120”), or, if such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “Federal funds Funds (effectiveEffective)”. .” If such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to on such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds federal funds transactions in The City of New York (which may include one or more of the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 FEDFUNDS 1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 FEDFUNDS 1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 FEDFUNDS 1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Global Note shall equal the Federal Funds Rate determined as specified on the face hereofherein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined equal the rate as of the Business Day prior to the Interest Reset Date (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if "Federal Funds (Effective)" as that rate is displayed on Telerate page 120. If such rate does not appear on Reuters Page FEDFUNDS1 or is not so published displayed on Telerate page 120 by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect Date pertaining to such Federal Funds Interest Determination Date, then the Federal Funds Rate shall be the rate on such Federal Funds Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source for displaying that rate under the heading "Federal Funds (Effective)" or any replacement heading on that service. If by 3:00 P.M.p.m., New York City time, on the related such Calculation Date, such rate is not published in either H.15(519) or H.15 Daily Update or another recognized electronic source, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates rates, for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to Financement-Québec (and which may include the Agents and their affiliates) by 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; , provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereofherein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined equal the rate as of the Business Day prior to the Interest Reset Date (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if "Federal Funds (Effective)" as that rate is displayed on Telerate page 120. If such rate does not appear on Reuters Page FEDFUNDS1 or is not so published displayed on Telerate page 120 by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect Date pertaining to such Federal Funds Interest Determination Date, then the Federal Funds Rate shall be the rate on such Federal Funds Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source for displaying that rate under the heading "Federal Funds (Effective)" or any replacement heading on that service. If by 3:00 P.M.p.m., New York City time, on the related such Calculation Date, such rate is not published in either H.15(519) or H.15 Daily Update or another recognized electronic source, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates rates, for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to Financement-Québec (and which may include the Agents and their affiliates) by 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; , provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Subordinated Note is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified indicated on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “"Federal Funds Rate Interest Determination Date”") and shall be as the rate with respect to on such date for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears ", as such rate is displayed on Reuters Bridge Telerate, Inc. (or any successor service) on Reuters page 120 ("Telerate Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” 120"), or, if such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “"Federal funds Funds (effectiveEffective)”. ." If such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to on such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Base Rate Basis indicated on the face hereof is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as rate on each Interest Determination Date specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate hereof for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” "Federal Funds (Effective)" or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, the rate with respect to such Federal Funds Rate for such Interest Determination Date for U.S. dollar federal funds will then be the rate on such Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for Composite Quotations under the purpose of displaying such rate, opposite the caption “heading "Federal funds (effective)”Funds/ Effective Rate". If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in either H.15(519), H.15 Daily Update ) or another recognized electronic source Composite Quotations by 3:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, then the Federal Funds Rate with respect to for such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates rates, as of 9:00 A.M., New York City time, on such Interest Determination Date, for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent. In each of the above cases the rate shall be adjusted by the addition or subtraction of the Spread, after consultation with Québecif any, prior to 9:00 A.M., New York City time, specified on the Business Day following such Federal Funds Rate Interest Determination Date; providedface hereof, howeveror by multiplication by the Spread Multiplier, that if any, specified on the face hereof. If the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentenceset forth above, the Federal Funds Rate determined as of with respect to such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on immediately prior to such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified indicated on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “"Federal Funds Rate Interest Determination Date”) and shall be "), as the rate with respect to on such date for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears ," as such rate is displayed on Reuters Bridge Telerate, Inc. (or any successor service) on Reuters page 120 ("Telerate Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” 120"), or, if such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “"Federal funds Funds (effectiveEffective)”. ." If such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to on such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination DateDate by three leading brokers of federal funds transactions in The City of New York selected by the Calculation Agent; provided, however, that if any of the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis specified above is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal will be the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, as specified above. The If “Federal Funds (Effective) Rate” is the specified Federal Funds Rate, the Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior means with respect to the Interest Reset Date (a “Federal Funds Rate any Interest Determination Date”) and shall be , the rate with respect to such date on that day for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite the heading caption “Federal funds (effective)” and that appears as displayed on Reuters (or any successor service) on Reuters Page page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, the Federal Funds Rate will be the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite under the caption “Federal funds (effective)”. .” If such rate does not appear on Reuters Page FEDFUNDS1 or and is not yet published in H.15(519), H.15 Daily Update or another other recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, then the Federal Funds Rate with respect to for such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “‘‘Federal funds (effective)” ’’ and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “‘‘EFFECT” ’’ or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “‘‘Federal funds (effective)”’’. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is ----------------------------------- the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spreadhereof (or, if anythis Note is in global form, or multiplied by in the Spread MultiplierPricing Supplement), if any. The the Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “"Federal Funds Rate Interest Determination Date”") and shall be as the rate with respect to on such date for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears ", as such rate is displayed on Reuters Bridge Telerate, Inc. (or any successor service) on Reuters Page FEDFUNDS1 page 120 (or any other page as may replace such page on such service) under the heading “EFFECT” ("Telerate Page 120"), or, if such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “"Federal funds Funds (effectiveEffective)”. ." If such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to on such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the The interest rate payable with respect to this Note Security shall equal be calculated by the Calculation Agent with reference to the Federal Funds Rate determined as and the Spread or Spread Multiplier, if any, specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The "Federal Funds Rate for Rate" means, with respect to each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be , the rate with respect to on such date for U.S. dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears on Reuters (", or any successor service) publication or heading. In the event that such rate is not published prior to 3:00 P.M., New York City time, on Reuters Page FEDFUNDS1 (or any other page as may replace the Calculation Date pertaining to such page Interest Determination Date, then the Federal Funds Rate will be the rate on such service) Interest Determination Date for United States dollar federal funds as published in H.15 Daily Update under the heading “EFFECT” or"Federal Funds (Effective)", if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published any successor publication or heading. If by 3:00 P.M., New York City time, on the related such Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in either H.15(519), ) or H.15 Daily Update (or another recognized electronic source by 3:00 P.M.in any successor publications), New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate for that Interest Determination Date shall be the arithmetic mean, as calculated by the Calculation Agent and shall be the arithmetic mean on such Calculation Date, of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to as of 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, --------- however, that if the fewer than three brokers so selected as aforesaid by the ------- Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis Basis, as specified above, is, or is calculated by reference to the Federal Funds Rate, unless otherwise specified above, the interest rate payable “Federal Funds Rate” with respect to this Note shall equal the Federal Funds Rate each Interest Reset Date will be determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined Calculation Agent as of the first Business Day prior to the such Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such on that date for U.S. United States dollar Federal Funds as published in H.15(519) opposite under the heading “Federal funds Funds (effectiveEffective),” and that appears as displayed on Reuters Reuters, Inc. (or any successor service) on Reuters Page FEDFUNDS1 page FEDFUND01 (or any other page as may replace such the applicable page on such servicethat service)(“Reuters Page FEDFUND 01”) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 FEDFUND01, or is not so published by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, the rate with respect to such on the applicable Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds Federal Funds will be the rate on such Federal Funds Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite under the caption “Federal funds Funds (effectiveEffective)”. .” If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet so published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds arranged by three leading brokers of U.S. United States dollar Federal Funds transactions in The City of New York (York, which may include an agent of the Agents Company or their such agent’s affiliates) , selected by the Calculation Agent, after consultation with Québec, prior to Agent before 9:00 A.M.a.m., New York City time, on the Business Day following such applicable Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such the applicable Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spreadhereof (or, if anythis Note is in global form, or multiplied by in the Spread Multiplier, if any. The Pricing Supplement) the Federal Funds Rate for each interest reset date shall be determined by the Calculation Agent as of the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) and in accordance with the following provisions: (i) if “Federal Funds (Effective) Rate” is the Federal Funds Rate specified on the face hereof (or, if this Note is in global form, in the Pricing Supplement), the Federal Funds Rate as of the applicable Federal Funds Rate Interest Determination Date shall be the rate with respect to such date for U.S. dollar Federal Funds United States Dollar federal funds as published in H.15(519) opposite the heading caption “Federal funds (effective),” and that appears as such rate is displayed on Reuters (or any successor service) on Reuters Page page FEDFUNDS1 (or any other page as may replace such page on such service) (“Reuters Page FEDFUNDS1”) under the heading “EFFECT” ”, or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “Federal funds (effective)”. .” If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Distribution Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the The interest rate payable with respect to this Note Security shall equal be calculated by the Calculation Agent with reference to the Federal Funds Rate determined as and the Spread or Spread Multiplier, if any, specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The "Federal Funds Rate for Rate" means, with respect to each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be , the rate with respect to on such date for U.S. dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears on Reuters (", or any successor service) publication or heading. In the event that such rate is not published prior to 3:00 P.M., New York City time, on Reuters Page FEDFUNDS1 (or any other page as may replace the Calculation Date pertaining to such page Interest Determination Date, then the Federal Funds Rate will be the rate on such service) Interest Determination Date for United States dollar federal funds as published in H.15 Daily Update under the heading “EFFECT” or"Federal Funds (Effective)", if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published any successor publication or heading. If by 3:00 P.M., New York City time, on the related such Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in either H.15(519), ) or H.15 Daily Update (or another recognized electronic source by 3:00 P.M.in any successor publications), New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate for that Interest Determination Date shall be the arithmetic mean, as calculated by the Calculation Agent and shall be the arithmetic mean on such Calculation Date, of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to as of 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the fewer than three brokers so selected as aforesaid by the ----------------- Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis Basis, as specified above, is, or is calculated by reference to the Federal Funds Rate, unless otherwise specified above, the interest rate payable "Federal Funds Rate" with respect to this Note shall equal the Federal Funds Rate each Interest Reset Date will be determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined Calculation Agent as of the first Business Day prior to the such Interest Reset Date (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such on that date for U.S. United States dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears ," as displayed on Reuters (Bridge Telerate, Inc. or any successor service) service on Reuters Page FEDFUNDS1 (page 120 or any other page as may replace such the applicable page on such servicethat service ("Telerate Page 120") under the heading “EFFECT” or, if such rate does not appear on Reuters Telerate Page FEDFUNDS1 120, or is not so published by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, the rate with respect to such on the applicable Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds Federal Funds will be the rate on such Federal Funds Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite under the caption “"Federal funds (effective)”. Funds/Effective Rate." If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet so published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds arranged by three leading brokers of U.S. United States dollar Federal Funds transactions in The City of New York (York, which may include an agent of the Agents Company or their such agent's affiliates) , selected by the Calculation Agent, after consultation with Québec, prior to Agent before 9:00 A.M.a.m., New York City time, on the Business Day following such applicable Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such the applicable Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Senior Note is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified indicated on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “"Federal Funds Rate Interest Determination Date”") and shall be as the rate with respect to on such date for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” and that appears ", as such rate is displayed on Reuters Bridge Telerate, Inc. (or any successor service) on Reuters page 120 ("Telerate Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” 120"), or, if such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “"Federal funds Funds (effectiveEffective)”. ." If such rate does not appear on Reuters Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to on such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis Basis, as specified above, is, or is calculated by reference to the Federal Funds Rate, unless otherwise specified above, the interest rate payable “Federal Funds Rate” with respect to this Note shall equal the Federal Funds Rate each Interest Reset Date will be determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined Calculation Agent as of the first Business Day prior to the such Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such on that date for U.S. United States dollar Federal Funds as published in H.15(519) opposite under the heading “Federal funds Funds (effectiveEffective),” and that appears as displayed on Reuters (Moneyline Telerate or any successor service) service on Reuters Page FEDFUNDS1 (page 120 or any other page as may replace such the applicable page on such servicethat service (“Moneyline Telerate Page 120”) under the heading “EFFECT” or, if such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120, or is not so published by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, the rate with respect to such on the applicable Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds Federal Funds will be the rate on such Federal Funds Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite under the caption “Federal funds (effective)”. Funds/Effective Rate.” If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet so published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related applicable Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds arranged by three leading brokers of U.S. United States dollar Federal Funds transactions in The City of New York (York, which may include an agent of the Agents Company or their such agent’s affiliates) , selected by the Calculation Agent, after consultation with Québec, prior to Agent before 9:00 A.M.a.m., New York City time, on the Business Day following such applicable Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such the applicable Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is of a Note provides for the payment of interest at a rate to be determined by reference to the Federal Funds Rate, the interest rate payable with respect to this such Note for any Reset Date shall equal (a) the Federal Funds Rate determined as specified rate on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business second Market Day prior with respect to the Interest such Note immediately preceding such Reset Date (a the “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds (i) as published in H.15(519) opposite H.15 Daily Update under the heading “Federal funds Funds (effectiveEffective)” and as that appears rate is displayed on the Reuters (or any successor service) on Reuters Screen FEDFUNDS1 Page FEDFUNDS1 (for that day, or any other page as may replace such page on such service) recognized electronic source used for displaying that rate, under the heading “EFFECTFederal Funds (Effective)” or, or (b) if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect calculation date pertaining to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds Date, the arithmetic mean (rounded, if necessary, to the fourth decimal place, with 0.00005 being rounded upwards), as published in H.15 Daily Updatecalculated by the Calculation Agent on such calculation date, or such other recognized electronic source used of the rates for the purpose last transaction in overnight Federal Funds arranged by three leading brokers of displaying such rateFederal Funds transactions in The City of New York, opposite selected by the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519)Calculation Agent, H.15 Daily Update or another recognized electronic source by 3:00 P.M.as of 9:00 a.m., New York City time, on the related Calculation such Federal Funds Rate Determination Date, then in each of the above cases adjusted by the addition or subtraction of the Spread, if any, specified in the applicable Pricing Supplement or by multiplication by the Spread Multiplier, if any, specified in the applicable Pricing Supplement; provided, however, that if fewer than three brokers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, will remain the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate then in effect on such Federal Funds Rate Interest Determination Date.