Determination or Calculation by Note Trustee Clause Samples

Determination or Calculation by Note Trustee. If for any reason at any relevant time after the Closing Date, the Agent Bank or, as the case may be, the Calculation Agent defaults in its obligation to determine the Rate of Interest for a Floating Rate Note or the Agent Bank defaults in its obligation to calculate any Interest Amount for such Note in accordance with sub-paragraph (ii)(a) or (b) above or as otherwise specified for such Note in the applicable Final Terms, as the case may be, and in each case in accordance with paragraph (iv) above, the Note Trustee shall determine the Rate of Interest at such rate as, in its absolute discretion (having such regard as it shall think fit to the foregoing provisions of this Condition, but subject always to any Minimum Rate of Interest or Maximum Rate of Interest specified for such Note in the applicable Final Terms), it shall deem fair and reasonable in all the circumstances or, as the case may be, the Note Trustee shall calculate the Interest Amount(s) in such manner as it shall deem fair and reasonable in all the circumstances and each such determination or calculation shall be deemed to have been made by the Agent Bank or the Calculation Agent, as the case may be.

Determination or Calculation by Note Trustee. If the Calculation Agent does not at any time for any reason determine or calculate the Rate of Interest for an Interest Accrual Period or any Interest Amount, Instalment Amount, Final Redemption Amount, Early Redemption Amount or Optional Redemption Amount, or take any action that it is required to do pursuant to these Conditions, the Calculation Agent shall forthwith notify the Relevant Issuer, the Note Trustee and the Issuing and Paying Agent and the Note Trustee (whether or not it receives such notice) shall do so (or shall appoint an agent on its behalf to do so) and such determination or calculation shall be deemed to have been made by the Calculation Agent. In doing so, the Note Trustee shall apply the foregoing provisions of this Condition, with any necessary consequential amendments, to the extent that, in its opinion, it can do so, and, in all other respects it shall do so in such manner as it shall deem fair and reasonable in all the circumstances.

Determination or Calculation by Note Trustee. (a) If the Agent Bank or the Loan Facility Provider does not at any time for any reason determine the Interest Rate or the Loan Interest Amount for an Advance in accordance with this Clause 5, the Note Trustee may (but without any liability accruing to the Note Trustee as a result): (i) determine (or appoint an agent or expert at the expense of the Loan Facility Provider to determine) the Interest Rate for each Advance at such rate as, in its absolute discretion (having such regard as it shall think fit to the procedure described in this Clause 5 but always subject to any Minimum Rate of Interest or Maximum Rate of Interest specified in the Loan Transaction Terms), it shall deem fair and reasonable in all the circumstances; and/or (ii) calculate (or appoint an agent or expert at the expense of the Loan Facility Provider to calculate) the Loan Interest Amount for each Advance in such manner specified in this Clause 5, and any such determination and/or calculation shall be deemed to have been made by the Agent Bank or the Loan Facility Provider, as the case may be. (b) For the avoidance of doubt, where reference is made in this Clause 5 to the Agent Bank performing any act (including, without limitation, calculating or determining) the Loan Facility Provider shall procure that the Agent Bank performs such act or otherwise shall perform such act itself.