Common use of Interest and Interest Rates Clause in Contracts

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23, 2015, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.74%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23, May 23, August 23 and November 23 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23, 2016. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 8, May 8, August 8 and November 8, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23, 2015 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

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Interest and Interest Rates. (a) The 2021 Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23May 13, 20152016, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the 2021 Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the 2021 Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.741.000%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the 2021 Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the 2021 Floating Rate Notes. The amount of interest to be paid on the 2021 Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the 2021 Floating Rate Notes shall be payable quarterly in arrears on each February 2313, May 2313, August 23 13 and November 23 13 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23August 13, 2016. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2021 Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the 2021 Floating Rate Notes is not a Business Day, payment of principal and interest on the 2021 Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the 2021 Floating Rate Notes. Interest on a 2021 Floating Rate Note will be paid to the Person in whose name that 2021 Floating Rate Note was registered at the close of business on the February 8January 29, May 8April 28, August 8 July 29 and November 8October 29, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2021 Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such 2021 Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23May 13, 2015 2016 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate [A portion of the interest payable on the [ ] Notes will bear be payable in cash (“Required Cash Interest”) and the remainder of the interest on the unpaid [ ] Notes will accrete as original issue discount, except to the extent the Issuer elects to pay a portion of such accreting interest in cash (“Optional Cash Interest”).]10 5 Insert supplement number. 6 Insert interest rate. 7 Insert year during which the maturity date falls. 8 Insert title of notes. 9 Insert Maturity Date. 10 Insert for partial cash-pay notes, together with additional changes, as applicable. Interest on the outstanding principal amount thereof from November 23of [ ] Notes will accrue at the rate of [ ]%11 per annum and will be payable semi-annually in arrears on [ ] and [ ]12 in each year, 2015commencing on [ ], or 20[ ],13 to holders of record on the immediately preceding [ ] and [ ],14 respectively (each such [ ] and [ ], a “Record Date”). Interest on the [ ] Notes will accrue from the most recent Floating Rate Interest Payment Date date to which interest has been paid or provided for or, if no interest has been paid, from [ ], 20[ ], except that interest on any Additional [ ] Notes (as defined below) issued on or after the first Interest Payment Date (and Exchange Notes issued in exchange therefor) will accrue (or will be deemed to have accrued) from the most recent date to which interest has been paid or duly provided forfor or, if no interest has been paid on such Additional [ ] Notes, from the Interest Payment Date immediately preceding the date of issuance of such Additional [ ] Notes (or if the date of issuance of such Additional [ ] Notes is an Interest Payment Date, from such date of issuance); provided that if any [ ] Note and any Exchange Notes issued in exchange therefor are surrendered for exchange on or after a record date for an Interest Payment Date that will occur on or after the date of such exchange, interest on such Note received in exchange thereof will accrue from such Interest Payment Date. [The Accreted Value of the [ ] Notes will increase from the Issue Date until the principal amount Stated Maturity thereof as provided in the definition of the Floating Rate Notes shall have been paid or duly provided forterm “Accreted Value” (except to the extent the Issuer makes Optional Cash Interest payments at its election pursuant to a Cash Interest Payment Election Notice). The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period Accreted Value (as defined below) and of the [ ] Notes as of any date prior to the Stated Maturity thereof will be equal the principal amount (as such term is used in the Indenture) of the [ ] Notes as of such date. The Issuer may, at its option, elect to LIBOR pay Optional Cash Interest for all or a portion of the Semi-Annual Accreted Amount (as defined below) plus 0.74%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of for any semi-annual interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest period prior to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23, May 23, August 23 and November 23 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23, 2016. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate [ ] Notes. To elect to pay Optional Cash Interest, that Floating Rate the Issuer shall give the Trustee written notice of such election (a “Cash Interest Payment Election Notice”) not less than 15 Business Days prior to the end of the related semi-annual interest period, which Cash Interest Payment Election Notice shall include the relevant Accretion Date. The Trustee shall promptly deliver a corresponding notice to the [ ] Holders of the [ ] Notes. Upon such an election to pay Optional Cash Interest on any Accretion Date for the relevant semi-annual interest period, Optional Cash Interest will accrue on the specified amount of the Accreted Value of the [ ] Note as of the first day of such semi-annual interest period at the rate of [ ]% per annum during such semi-annual interest period in lieu of (a) an increase in the Accreted Value of the [ ] Notes on such Accretion Date and (b) payment of Required Cash Interest on the corresponding Interest Payment Date Such Optional Cash Interest will be postponed to payable on the following day that is a Business Day, except that if such next Business Day is Accretion Date specified in a different month, then that Floating Rate the relevant Cash Interest Payment Date will be Election Notice on a pro rata basis to [ ] Holders of record on the immediately preceding day that Record Date. In the absence of such an election for any semi-annual interest period with respect to the [ ] Notes (or if such election is a Business Day. If the Stated Maturity for less than all of the Floating Rate Notes is not a Business Day, payment interest accrued for such semi-annual interest period) the Accreted Value of principal and interest on the Floating Rate [ ] Notes will be made on increase as described in the following day that is a Business Day and no preceding paragraph. 11 Insert interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notesrate. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 8, May 8, August 8 and November 8, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate 12 Insert Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Dates. 13 Insert first Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23, 2015 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date14 Insert Record Dates.

Appears in 1 contract

Samples: Senior Secured Notes Indenture (Lri Holdings, Inc.)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23May 21, 20152014, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.33%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 2319, May 2319, August 23 19 and November 23 19 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23August 19, 20162014. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 84, May 84, August 8 and 4 or November 84, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23May 21, 2015 2014 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear rate of interest on the unpaid principal amount thereof each 2016 Note shall be 2.750% per annum, accruing from November 2310, 20152011, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, payable semi-annually in arrears on May 15 and November 15 of each year, commencing May 15, 2012 until the principal amount thereof is paid or made available for payment. The rate of interest on each 2022 Note shall be 4.000% per annum, accruing from November 10, 2011, or from the Floating Rate Notes shall have most recent Interest Payment Date to which interest has been paid or duly provided for, payable semi-annually in arrears on February 15 and August 15 of each year, commencing February 15, 2012 until the principal thereof is paid or made available for payment. The rate of interest rate on each 2042 Note shall be 5.375% per annum for annum, accruing from November 10, 2011, or from the Floating Rate Notes will be reset quarterly most recent Interest Payment Date to which interest has been paid or duly provided for, payable semi-annually in arrears on the first day February 15 and August 15 of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.74%year, as determined by a calculation agent (commencing February 15, 2012 until the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agentprincipal thereof is paid or made available for payment. The amount of interest for each payable on any Interest Payment Date shall be computed on the basis of a 360-day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that year of twelve 30-day by 360 and multiplying the result by the principal amount of the Floating Rate Notesmonths. The amount of interest to payable for any period shorter than a full monthly period shall be paid computed on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding basis of the Daily Interest Amount for each day actual number of calendar days elapsed in such a period. In the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23, May 23, August 23 and November 23 (each such date, a “Floating Rate event that any Interest Payment Date, Redemption Date, Special Mandatory Redemption Date (in the case of the 2016 Notes and the 2022 Notes), beginning on February 23Change of Control Payment Date, 2016. If Maturity or Stated Maturity of any Floating Rate Interest Payment Date would fall on a day that Senior Note is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of interest or principal (and interest premium, if any) payable on the Floating Rate Notes such date will be made on the following next succeeding day that is a Business Day (and no without any interest will accrue for the period from or other payment in respect of any such delay). The interest so payable in respect of any Senior Note, and after such Stated Maturity of the Floating Rate Notes. punctually paid or duly provided for, on any Interest on a Floating Rate Note Payment Date will be paid to the Person in whose name that Floating Rate such Senior Note was (or one or more Predecessor Securities) is registered at the close of business on the February 8, May 8, August 8 and November 8, as the case may be, fifteenth calendar day (whether or not a Business Day, ) prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate such Interest Payment Date that is also (the Stated Maturity “Regular Record Date”). Any such interest not punctually paid or duly provided for in respect of any Senior Note shall forthwith cease to be payable to the Floating Rate Notes, the interest due registered Holder on such date will Regular Record Date and may either be paid to the Person in whose name such Senior Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date to whom principal is payable upon surrender be fixed by the Trustee for the payment of such Floating Rate Note at a Place Defaulted Interest, notice whereof shall be given to the Holders of Payment. (c) On each Floating Rate Interest Payment the Senior Notes not less than 10 calendar days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the Company will pay interest for requirements of any securities exchange on which the Floating Rate Interest Period ended on the day immediately preceding Senior Notes may be listed, and upon such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23, 2015 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Datenotice as may be required by such exchange.

Appears in 1 contract

Samples: Supplemental Indenture (Cigna Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23January 11, 20152017, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.850%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23January 11, May 23April 11, August 23 July 11 and November 23 October 11 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23April 11, 20162017. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 8December 27, May 8March 27, August 8 June 26 and November 8September 26, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23January 11, 2015 2017 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The 2023 Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23May 15, 20152018, or from the most recent 2023 Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the 2023 Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the 2023 Floating Rate Notes will be reset quarterly on the first day of each 2023 Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.720%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the 2023 Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the 2023 Floating Rate Notes. The amount of interest to be paid on the 2023 Floating Rate Notes for each 2023 Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the 2023 Floating Rate Interest Period. (b) Interest on the 2023 Floating Rate Notes shall be payable quarterly in arrears on each February 2315, May 2315, August 23 15 and November 23 15 (each such date, a “2023 Floating Rate Interest Payment Date”), beginning on February 23August 15, 20162018. If any 2023 Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the 2023 Floating Rate Interest Payment Date that is also the Stated Maturity of the 2023 Floating Rate Notes, that 2023 Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that 2023 Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the 2023 Floating Rate Notes is not a Business Day, payment of principal and interest on the 2023 Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the 2023 Floating Rate Notes. Interest on a 2023 Floating Rate Note will be paid to the Person in whose name that 2023 Floating Rate Note was registered at the close of business on the February 8January 31, May 8April 30, August 8 July 31 and November 8October 31, as the case may be, whether or not a Business Day, prior to the applicable 2023 Floating Rate Interest Payment Date, except that in the case of the 2023 Floating Rate Interest Payment Date that is also the Stated Maturity of the 2023 Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such 2023 Floating Rate Note at a Place of Payment. (c) On each 2023 Floating Rate Interest Payment Date, the Company will pay interest for the 2023 Floating Rate Interest Period ended on the day immediately preceding such 2023 Floating Rate Interest Payment Date. “2023 Floating Rate Interest Period” shall mean the period commencing on and including November 23May 15, 2015 2018 to but excluding the first 2023 Floating Rate Interest Payment Date and each successive period from and including a 2023 Floating Rate Interest Payment Date to but excluding the next 2023 Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest Interest on the unpaid principal Notes shall be payable semiannually on January 15 and July 15 of each year beginning on July 15, 2008 (each, an “INTEREST PAYMENT DATE”); PROVIDED, HOWEVER, that if an Interest Payment Date would otherwise be a day that is not a Business Day, such Interest Payment Date shall be the next succeeding Business Day, and no additional interest shall be paid in respect of such intervening period. The interest payable on each Interest Payment Date shall be the amount thereof of interest accrued from November 23January 15, 2015, 2008 or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, as the case may be, until the principal amount of the Floating Rate Notes shall have has been paid or duly provided for. Interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest rate per annum for borne by the Floating Rate Notes will be reset quarterly on 6 7/8% per annum until the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.74%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (paid in full, plus Additional Interest, if any, payable pursuant to the “Daily Interest Amount”) will be calculated by dividing Registration Rights Agreement and as set forth in the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be payable on any Note which is punctually paid or duly provided for on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23, May 23, August 23 and November 23 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23, 2016. If any Floating Rate Interest Payment Date would fall shall be paid to the Person in whose name such Note is registered at the close of business on a day that is the January 1 or July 1 (in each case, whether or not a Business Day), other than the Floating Rate respectively, immediately preceding such Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes(each, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except “Regular Record Date”); provided that if such next Business Day January 1 or July 1 is in a different monthprior to the date of issuance of such Note, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate such Note was is registered at the close of business on such date of issuance. Interest payable on any Note which is not punctually paid or duly provided for on any Interest Payment Date therefor shall forthwith cease to be payable to the Person in whose name such Note is registered at the close of business on the February 8, May 8, August 8 and November 8Regular Record Date or date of issuance, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate immediately preceding such Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the and such interest due on such date will shall instead be paid to the Person in whose name such Note is registered at the close of business on the record date established for such payment by notice by or on behalf of the Company to whom principal is payable the Holders of the Notes mailed by first-class mail not less than 15 days prior to such record date to their last addresses as they shall appear upon surrender the Security register, such record date to be not less than five days preceding the date of payment of such Floating Rate Note at a Place of Paymentdefaulted interest. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23, 2015 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Tyco International LTD /Ber/)

Interest and Interest Rates. (a) The 2020 Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23May 15, 20152018, or from the most recent 2020 Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the 2020 Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the 2020 Floating Rate Notes will be reset quarterly on the first day of each 2020 Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.280%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the 2020 Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the 2020 Floating Rate Notes. The amount of interest to be paid on the 2020 Floating Rate Notes for each 2020 Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the 2020 Floating Rate Interest Period. (b) Interest on the 2020 Floating Rate Notes shall be payable quarterly in arrears on each February 2315, May 2315, August 23 15 and November 23 15 (each such date, a “2020 Floating Rate Interest Payment Date”), beginning on February 23August 15, 20162018. If any 2020 Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the 2020 Floating Rate Interest Payment Date that is also the Stated Maturity of the 2020 Floating Rate Notes, that 2020 Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that 2020 Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the 2020 Floating Rate Notes is not a Business Day, payment of principal and interest on the 2020 Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the 2020 Floating Rate Notes. Interest on a 2020 Floating Rate Note will be paid to the Person in whose name that 2020 Floating Rate Note was registered at the close of business on the February 8January 31, May 8April 30, August 8 July 31 and November 8October 31, as the case may be, whether or not a Business Day, prior to the applicable 2020 Floating Rate Interest Payment Date, except that in the case of the 2020 Floating Rate Interest Payment Date that is also the Stated Maturity of the 2020 Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such 2020 Floating Rate Note at a Place of Payment. (c) On each 2020 Floating Rate Interest Payment Date, the Company will pay interest for the 2020 Floating Rate Interest Period ended on the day immediately preceding such 2020 Floating Rate Interest Payment Date. “2020 Floating Rate Interest Period” shall mean the period commencing on and including November 23May 15, 2015 2018 to but excluding the first 2020 Floating Rate Interest Payment Date and each successive period from and including a 2020 Floating Rate Interest Payment Date to but excluding the next 2020 Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23February 26, 20152019, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.770%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 2326, May 2326, August 23 26 and November 23 26 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23May 26, 20162019. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 811, May 811, August 8 and 11 or November 811, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23February 26, 2015 2019 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The 2019 Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23May 13, 20152016, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the 2019 Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the 2019 Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.710%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the 2019 Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the 2019 Floating Rate Notes. The amount of interest to be paid on the 2019 Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the 2019 Floating Rate Notes shall be payable quarterly in arrears on each February 2313, May 2313, August 23 13 and November 23 13 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23August 13, 2016. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2019 Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the 2019 Floating Rate Notes is not a Business Day, payment of principal and interest on the 2019 Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the 2019 Floating Rate Notes. Interest on a 2019 Floating Rate Note will be paid to the Person in whose name that 2019 Floating Rate Note was registered at the close of business on the February 8January 29, May 8April 28, August 8 July 29 and November 8October 29, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2019 Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such 2019 Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23May 13, 2015 2016 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The 2019 Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23August 19, 20152016, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the 2019 Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the 2019 Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.560%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the 2019 Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the 2019 Floating Rate Notes. The amount of interest to be paid on the 2019 Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the 2019 Floating Rate Notes shall be payable quarterly in arrears on each February 2319, May 2319, August 23 19 and November 23 19 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23November 19, 2016. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2019 Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the 2019 Floating Rate Notes is not a Business Day, payment of principal and interest on the 2019 Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the 2019 Floating Rate Notes. Interest on a 2019 Floating Rate Note will be paid to the Person in whose name that 2019 Floating Rate Note was registered at the close of business on the February 84, May 84, August 8 4 and November 84, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2019 Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such 2019 Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23August 19, 2015 2016 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

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Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23January 16, 20152020, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.390%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23January 13, May 23April 13, August 23 July 13 and November 23 October 13 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23April 13, 20162020. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 8December 29, May 8March 29, August 8 and November 8June 28 or September 28, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23January 16, 2015 2020 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23May 26, 2015, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.43%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 2325, May 2325, August 23 25 and November 23 25 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23August 25, 20162015. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 810, May 810, August 8 10 and November 810, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23May 26, 2015 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23June 28, 20152017, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.710%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23March 28, May 23June 28, August 23 September 28 and November 23 December 28 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23September 28, 20162017. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 8March 13, May 8June 13, August 8 September 13 and November 8December 13, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23June 28, 2015 2017 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23June 3, 20152021, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR Compounded SOFR (as defined below) plus 0.74%a margin of 52 basis points, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 accrued and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid payable on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding equal to the Daily Interest Amount for each day in product of (i) the Outstanding principal amount of the Floating Rate Notes multiplied by (ii) the product of (a) the interest rate for the relevant Floating Rate Interest PeriodPeriod (as defined below) multiplied by (b) the quotient of the actual number of calendar days in such Observation Period (as defined below) divided by 360. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23March 3, May 23June 3, August 23 September 3 and November 23 December 3 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23September 3, 20162021. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 816, May 819, August 8 and 19 or November 818, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23June 3, 2015 2021 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23December 1, 20152014, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.37%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23March 1, May 23June 1, August 23 September 1 and November 23 December 1 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23March 1, 20162015. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 814, May 817, August 8 17 and November 816, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23December 1, 2015 2014 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The 2021 Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23August 19, 20152016, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the 2021 Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the 2021 Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.850%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the 2021 Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the 2021 Floating Rate Notes. The amount of interest to be paid on the 2021 Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the 2021 Floating Rate Notes shall be payable quarterly in arrears on each February 2319, May 2319, August 23 19 and November 23 19 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23November 19, 2016. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2021 Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the 2021 Floating Rate Notes is not a Business Day, payment of principal and interest on the 2021 Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the 2021 Floating Rate Notes. Interest on a 2021 Floating Rate Note will be paid to the Person in whose name that 2021 Floating Rate Note was registered at the close of business on the February 84, May 84, August 8 4 and November 84, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the 2021 Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such 2021 Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23August 19, 2015 2016 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

Interest and Interest Rates. (a) The Floating Rate Notes will bear interest on the unpaid principal amount thereof from November 23March 6, 20152017, or from the most recent Floating Rate Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal amount of the Floating Rate Notes shall have been paid or duly provided for. The interest rate per annum for the Floating Rate Notes will be reset quarterly on the first day of each Floating Rate Interest Period (as defined below) and will be equal to LIBOR (as defined below) plus 0.740.430%, as determined by a calculation agent (the “Calculation Agent”). The Bank of New York Mellon will initially act as Calculation Agent. The amount of interest for each day the Floating Rate Notes are Outstanding (the “Daily Interest Amount”) will be calculated by dividing the interest rate in effect for that day by 360 and multiplying the result by the principal amount of the Floating Rate Notes. The amount of interest to be paid on the Floating Rate Notes for each Floating Rate Interest Period will be calculated by adding the Daily Interest Amount for each day in the Floating Rate Interest Period. (b) Interest on the Floating Rate Notes shall be payable quarterly in arrears on each February 23March 6, May 23June 6, August 23 September 6 and November 23 December 6 (each such date, a “Floating Rate Interest Payment Date”), beginning on February 23June 6, 20162017. If any Floating Rate Interest Payment Date would fall on a day that is not a Business Day, other than the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, that Floating Rate Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month, then that Floating Rate Interest Payment Date will be the immediately preceding day that is a Business Day. If the Stated Maturity of the Floating Rate Notes is not a Business Day, payment of principal and interest on the Floating Rate Notes will be made on the following day that is a Business Day and no interest will accrue for the period from and after such Stated Maturity of the Floating Rate Notes. Interest on a Floating Rate Note will be paid to the Person in whose name that Floating Rate Note was registered at the close of business on the February 819, May 822, August 8 22 and November 821, as the case may be, whether or not a Business Day, prior to the applicable Floating Rate Interest Payment Date, except that in the case of the Floating Rate Interest Payment Date that is also the Stated Maturity of the Floating Rate Notes, the interest due on such date will be paid to the Person to whom principal is payable upon surrender of such Floating Rate Note at a Place of Payment. (c) On each Floating Rate Interest Payment Date, the Company will pay interest for the Floating Rate Interest Period ended on the day immediately preceding such Floating Rate Interest Payment Date. “Floating Rate Interest Period” shall mean the period commencing on and including November 23March 6, 2015 2017 to but excluding the first Floating Rate Interest Payment Date and each successive period from and including a Floating Rate Interest Payment Date to but excluding the next Floating Rate Interest Payment Date.

Appears in 1 contract

Samples: Supplemental Indenture (Westpac Banking Corp)

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