Common use of Determination of Federal Funds Rate Clause in Contracts

Determination of Federal Funds Rate. The “federal funds rate” for any Interest Determination Date is the rate on that date for federal funds, as published in H.15(519) prior to 3:00 P.M., New York City time, on the calculation date for that Interest Determination Date under the heading “Federal Funds (Effective)” and/or displayed on Moneyline Telerate, Inc. (or any successor service) on page 120 (or any other page as may replace the specified page on that service) (“Telerate Page 120”). The following procedures will be followed if the federal funds rate cannot be determined as described above:

Determination of Federal Funds Rate. The “"federal funds rate” " for any Interest Determination Date is the rate on that date for federal funds, as published in H.15(519) prior to 3:00 P.M., New York City time, on the calculation date for that Interest Determination Date under the heading “"Federal Funds (Effective)” " and/or displayed on Moneyline Telerate, Inc. (or any successor service) , on page 120 (or any other page as may replace the specified page on that service) service (“"Telerate Page 120”"). The following procedures will be followed if the federal funds rate cannot be determined as described above: