Common use of Determination of the Compounded Reference Rate Clause in Contracts

Determination of the Compounded Reference Rate. (i) Where interest is to be determined by reference to the Compounded Reference Rate then the following provisions shall apply. (ii) The rate of interest on a Reference Rate Loan (or any part thereof) for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable: (A) the Applicable Margin; (B) the Compounded Reference Rate for that day; and (C) the Credit Adjustment Spread, and if, in any such case, the aggregate of the Compounded Reference Rate and the Credit Adjustment Spread is less than zero, the Compounded Reference Rate will be deemed to be such a rate that the aggregate of the Compounded Reference Rate and the Credit Adjustment Spread is zero. (iii) If any day during an Interest Period for a Reference Rate Loan (or any part thereof) is not a US Government Securities Business Day, the rate of interest on that Reference Rate Loan (or any part of it) for that day will be the rate applicable to the immediately preceding US Government Securities Business Day. ​ ​ -43- ​ ​ ​

Determination of the Compounded Reference Rate. (i) Where interest is to be determined by reference to the Compounded Reference Rate then the following provisions shall apply. (ii) The rate of interest on a Reference Rate Loan (or any part thereof) for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable: (A) the Applicable applicable Floating Rate Margin; (B) the Compounded Reference Rate for that day; and (C) the Credit Adjustment Spread, and if, in any such case, the aggregate of the Compounded Reference Rate and the Credit Adjustment Spread is less than zero, the Compounded Reference Rate will be deemed to be such a rate that the aggregate of the Compounded Reference Rate and the Credit Adjustment Spread is zero. (iii) If any day during an Interest Period for a Reference Rate Loan (or any part thereof) is not a US Government Securities Business Day, the rate of interest on that Reference Rate Loan (or any part of it) for that day will be the rate applicable to the immediately preceding US Government Securities Business Day. ​ ​ -43- ​ ​ ​.