Common use of Determination of Rate of Interest and calculation of Interest Amounts Clause in Contracts

Determination of Rate of Interest and calculation of Interest Amounts. The Fiscal Agent will, at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Fiscal Agent will calculate the amount of interest (the "Interest Amount") payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to: (i) in the case of Floating Rate Notes which are represented by a Global Note or Global Certificate, the aggregate outstanding nominal amount of the Notes represented by such Global Note or Global Certificate (or, if they are Partly Paid Notes, the aggregate amount paid up); or (ii) in the case of Floating Rate Notes in definitive form, the Calculation Amount; and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Floating Rate Note in definitive form is a multiple of the Calculation Amount, the Interest Amount payable in respect of such Note shall be the product of the amount (determined in the manner provided above) for the Calculation Amount and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination, without any further rounding.

Appears in 3 contracts

Samples: Fiscal Agency Agreement, Fiscal Agency Agreement, Fiscal Agency Agreement

AutoNDA by SimpleDocs

Determination of Rate of Interest and calculation of Interest Amounts. The Fiscal Agent or the Calculation Agent, as applicable, will, at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period (or any other Relevant Period). The Fiscal Agent or the Calculation Agent, as applicable, will calculate the amount of interest (the "Interest Amount") Amount payable on the Floating Rate Notes for the relevant Interest Period (or any other Relevant Period) by applying the Rate of Interest to: (i) in the case of Floating Rate Notes which that are represented by a Global Note or Global CertificateNote, the aggregate outstanding nominal principal amount of the Notes represented by such Global Note or Global Certificate (orNote, if they are Partly Paid Notes, the aggregate amount paid up); or (ii) in the case of Floating Rate Notes in definitive form, the Calculation Amount; , and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Floating Rate Note in definitive form is a multiple of an amount other than the Calculation Amount, the Interest Amount payable in respect of such Note shall be the product of the amount (determined in the manner provided above) for the Calculation Amount and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination, Denomination without any further rounding.

Appears in 1 contract

Samples: Agency Agreement

AutoNDA by SimpleDocs

Determination of Rate of Interest and calculation of Interest Amounts. The Fiscal Principal Paying Agent willor the Calculation Agent, as applicable, will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Fiscal Principal Paying Agent or the Calculation Agent, as applicable, will calculate the amount of interest (the "Interest Amount") payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to: (i) in the case of Floating Rate Notes which are represented by a Global Note or Global CertificateNote, the aggregate outstanding nominal amount of the Notes represented by such Global Note or Global Certificate (or, if they are Partly Paid Notes, the aggregate amount paid up)Note; or (ii) in the case of Floating Rate Notes which are in definitive form, the Calculation Amount; and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Floating Rate Note which is in definitive form is a multiple of the Calculation Amount, the Interest Amount payable in respect of such Note shall be the product of the amount (determined in the manner provided above) for the Calculation Amount and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination, Denomination without any further rounding.

Appears in 1 contract

Samples: Agency Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!