Common use of Interest determination Clause in Contracts

Interest determination. (a) The Principal Paying Agent shall: (i) where Screen Rate Determination and Overnight Rate are specified as "Applicable", the Reference Rate is specified as being "Compounded Daily XXXXX" and Index Determination is specified as "Not Applicable" in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Non-Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (XXXXX - Xxxxxxxxxx Daily XXXXX (Non-Index Determination)), be Compounded Daily XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (ii) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified as being “Compounded Daily XXXXX” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)), be Compounded Daily XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (iii) where Screen Rate Determination and Overnight Rate are specified as "Applicable" and the Reference Rate is specified as being “Average XXXXX” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (Average XXXXX) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (Average XXXXX)), be Average XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (iv) where Screen Rate Determination and Overnight Rate are specified as "Applicable", the Reference Rate is specified as being "Compounded Daily SOFR" and Index Determination is specified as "Not Applicable" in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)), be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (v) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified as being “Compounded Daily SOFR” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)), be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or

Interest determination. (a) The Principal Paying Agent shall: (i) where Where Screen Rate Determination and Overnight Rate are specified as "Applicable", the Reference Rate is specified as being "Compounded Daily XXXXX" and Index Determination is specified as "Not Applicable" in the applicable Final TermsTerms as the manner in which the Rate of Interest is to be determined, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Non-Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject as provided below, be either: (i) the rate or offered quotation; or (ii) the arithmetic mean (rounded if necessary to Condition 4.2(b)(iithe fifth decimal place, with 0.000005 being rounded upwards) of the rates or offered quotations, (XXXXX - Xxxxxxxxxx Daily XXXXX (Non-Index Determination)expressed as a percentage rate per annum), be Compounded Daily XXXXX for the Reference Rate which appears or appear, as the case may be, on the Relevant Screen Page as at the Specified Time on the Interest Determination Date in question plus or minus (as indicated in the applicable Final Terms) the Margin (if any), all as calculated determined by the Principal Paying Agent. If five or more bid rates or offered quotations are available on the Relevant Screen Page, the highest (or, if there is more than one highest quotation, one only of those quotations) and the lowest (or, if there is more than one lowest quotation, one only of those quotations) shall be disregarded by the Agent (or such other party responsible for the calculation purpose of determining the arithmetic mean (rounded as provided above) of the Rate of Interestbid rates or offered quotations. (b) If the Relevant Screen Page is not available or if, as specified in the applicable Final Termscase of subclause 8.2(a)(i); , no rate or offered quotation appears or , in the case of subclause 8.2(a)(ii), fewer than three rates or offered quotations appear, in each case as at the Specified Time, the Agent shall request each of the Reference Banks to provide the Agent with its bid rate or offered quotation (iiexpressed as a percentage rate per annum) where Screen for the Reference Rate Determinationat approximately the Specified Time on the Interest Determination Date in question (which, Overnight Rate and Index Determination are specified as "Applicable" and if the Reference Rate is specified as being “Compounded Daily XXXXX” CDOR, shall be the bid rate for Canadian dollar bankers acceptances for a period equal to the relevant Interest Period for settlement on the relevant Interest Determination Date and in an amount that is representative for a single transaction in the applicable Final Termsrelevant market at the relevant time (a representative amount) accepted by the Reference Banks at the Specified Time on the relevant Interest Determination Date). If two or more of the Reference Banks provide the Agent with offered quotations, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)) shall apply and the Rate of Interest for each the Interest Period will, subject shall be the arithmetic mean (rounded if necessary to Condition 4.2(b)(iithe fifth decimal place with 0.000005 being rounded upwards) (XXXXX - Compounded Daily XXXXX (Index Determination)), be Compounded Daily XXXXX of the rates or offered quotations plus or minus (as indicated in the applicable Final Termsappropriate) the Margin (if any), all as calculated determined by the Principal Paying Agent. (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Agent (with an offered quotation or such other party responsible for bid rate as provided in the calculation of preceding paragraph, the Rate of InterestInterest for the relevant Interest Period shall be the rate per annum which the Agent determines as being the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of: (i) in the case of a Reference Rate other than CDOR, the rates, as specified communicated to (and at the request of) the Agent by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Specified Time on the relevant Interest Determination Date, deposits in the applicable Final TermsSpecified Currency for a period equal to that which would have been used for the Reference Rate by leading banks in the London inter-bank market (if the Reference Rate is LIBOR), the Euro-zone inter-bank market (if the Reference Rate is EURIBOR), the Singapore inter-bank market (if the Reference Rate is SIBOR), the Sydney inter-bank market (if the Reference Rate is BBSW), the Hong Kong inter-bank market (if the Reference Rate is CNH HIBOR or HIBOR), the New Zealand inter-bank market (if the Reference Rate is BKBM), the Stockholm inter-bank market (if the Reference Rate is XXXXXX), the Oslo inter-bank market (if the Reference Rate is NIBOR) or the inter-bank market of the Relevant Financial Centre (if any other Reference Rate is used) plus or minus (as appropriate) the Margin (if any) or, if fewer than two of the Reference Banks provide the Agent with offered rates, the offered rate for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, or the arithmetic mean (rounded as provided above) of the offered rates for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, at which, at approximately the Specified Time on the relevant Interest Determination Date, any one or more banks (which bank or banks is or are in the opinion of the Issuer suitable for the purpose) informs the Agent it is quoting to leading banks in the London inter-bank market (if the Reference Rate is LIBOR), the Euro-zone inter-bank market (if the Reference Rate is EURIBOR), the Singapore inter-bank market (if the Reference Rate is SIBOR), the Sydney inter-bank market (if the Reference Rate is BBSW), the Hong Kong inter-bank market (if the Reference Rate is CNH HIBOR or HIBOR), the New Zealand inter-bank market (if the Reference Rate is BKBM), the Stockholm inter-bank market (if the Reference Rate is XXXXXX), the Oslo inter-bank market (if the Reference Rate is NIBOR) or the inter- bank market of the Relevant Financial Centre (if any other Reference Rate is used) plus or minus (as appropriate) the Margin (if any); or (iiiii) where Screen Rate Determination and Overnight Rate are specified as "Applicable" and if the Reference Rate is specified as being “Average XXXXX” CDOR, the bid rates quoted by any one or more major banks in Toronto (which bank or banks is or are in the applicable Final Terms, opinion of the provisions set out in Condition 4.2(b)(iiIssuer suitable for the purposes) (Average XXXXX) shall apply and provided to the Rate of Interest Agent for each Canadian Dollar bankers acceptances for a period equal to the relevant Interest Period will, subject to Condition 4.2(b)(ii) (Average XXXXX)), be Average XXXXX for settlement on the relevant Interest Determination Date and in representative amount accepted by the bank or banks at the Specified Time on the relevant Interest Determination Date plus or minus (as indicated in the applicable Final Termsappropriate) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interestprovided that, as specified in the applicable Final Terms); or (iv) where Screen Rate Determination and Overnight Rate are specified as "Applicable"each case, the Reference Rate is specified as being "Compounded Daily SOFR" and Index Determination is specified as "Not Applicable" in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)) shall apply and if the Rate of Interest for each Interest Period willcannot be determined in accordance with the foregoing provisions of this paragraph, subject to Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)), be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (v) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified as being “Compounded Daily SOFR” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)) shall apply and the Rate of Interest for each shall be determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to be applied to the relevant Interest Period willfrom that which applied to the last preceding Interest Period, subject to Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)), be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by relating to the Principal Paying Agent (or such other party responsible for the calculation relevant Interest Period in place of the Rate of Interest, as specified in the applicable Final TermsMargin relating to that last preceding Interest Period); or.

Interest determination. (a) The Principal Paying Agent shall: (i) where Screen Rate Determination and Overnight Rate are specified as "Applicable", the Reference Rate is specified as being "Compounded Daily XXXXX" and Index Determination is specified as "Not Applicable" in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Non-Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (XXXXX - Xxxxxxxxxx Compounded Daily XXXXX (Non-Index Determination)), be Compounded Daily XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (ii) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified as being “Compounded Daily XXXXX” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)), be Compounded Daily XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or. (iiib) where Where Screen Rate Determination and Overnight is specified in the applicable Final Terms as the manner in which the Rate are specified as "Applicable" of Interest is to be determined and the Reference Rate in respect of the Floating Rate Covered Bonds is specified as being “Average a rate other than XXXXX” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (Average XXXXX) shall apply and the Rate of Interest for each Interest Period will, subject as provided below, be either: (i) the offered quotation (if there is only one quotation on the Relevant Screen Page); or (ii) the arithmetic mean (rounded if necessary to Condition 4.2(b)(iithe fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations, (Average XXXXX)expressed as a percentage rate per annum), be Average XXXXX for the Reference Rate(s) which appears or appear, as the case may be, on the Relevant Screen Page as at the Specified Time on the Interest Determination Date in question plus or minus (as indicated in the applicable Final Terms) the Margin (if any), all as calculated determined by the Principal Paying Agent. If five or more offered quotations are available on the Relevant Screen Page, the highest (or, if there is more than one highest quotation, one only of those quotations) and the lowest (or, if there is more than one lowest quotation, one only of those quotations) shall be disregarded by the Principal Paying Agent (or such other party responsible for the calculation purpose of determining the arithmetic mean (rounded as provided above) of the Rate of Interestoffered quotations. (c) If the Relevant Screen Page is not available or if, as specified in the applicable Final Termscase of paragraph (b)(i); or , no offered quotation appears or if, in the case of paragraph (ivb)(ii), fewer than three offered quotations appear, in each case as at the Specified Time, the Principal Paying Agent shall request each of the Reference Banks to provide the Principal Paying Agent with its offered quotation (expressed as a percentage rate per annum) where Screen Rate Determination and Overnight Rate are specified as "Applicable", for the Reference Rate is specified as being "Compounded Daily SOFR" and Index at approximately the Specified Time on the Interest Determination is specified as "Not Applicable" Date in question. If two or more of the applicable Final TermsReference Banks provide the Principal Paying Agent with offered quotations, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)) shall apply and the Rate of Interest for each the Interest Period willshall be the arithmetic mean (rounded if necessary to the fifth decimal place, subject to Condition 4.2(b)(iiwith 0.000005 being rounded upwards) (SOFR - Compounded Daily SOFR (Non-Index Determination)), be Compounded Daily SOFR of the offered quotations plus or minus (as indicated in the applicable Final Termsappropriate) the Margin (if any), all as calculated determined by the Principal Paying Agent Agent. (d) If on any Interest Determination Date one only or such other party responsible for the calculation none of the Rate of Interest, Reference Banks provides the Principal Paying Agent with an offered quotation as specified provided in the applicable Final Termspreceding paragraph (c); or (v) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified as being “Compounded Daily SOFR” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)) shall apply and the Rate of Interest for each the relevant Interest Period willshall be the rate per annum which the Principal Paying Agent determines as being the arithmetic mean (rounded if necessary to the fifth decimal place, subject with 0.000005 being rounded upwards) of the rates, as communicated to Condition 4.2(b)(ii(and at the request of) the Principal Paying Agent by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Specified Time on the relevant Interest Determination Date, deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate by leading banks in the Euro-zone interbank market (SOFR - Compounded Daily SOFR (Index Determination)), be Compounded Daily SOFR if the Reference Rate is EURIBOR) plus or minus (as indicated appropriate) the Margin (if any) or, if fewer than two of the Reference Banks provide the Principal Paying Agent with offered rates, the offered rate for deposits in the applicable Final TermsSpecified Currency for a period equal to that which would have been used for the Reference Rate, or the arithmetic mean (rounded as provided above) of the offered rates for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, at which, at approximately the Specified Time on the relevant Interest Determination Date, any one or more banks (which bank or banks is or are in the opinion of the Issuer suitable for the purpose) informs the Principal Paying Agent it is quoting to leading banks in the Euro-zone interbank market (if the Reference Rate is EURIBOR) plus or minus (as appropriate) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of provided that, if the Rate of InterestInterest cannot be determined in accordance with the foregoing provisions of this Clause 4, the Rate of Interest shall be determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to be applied to the relevant Interest Period from that which applied to the last preceding Interest Period, the Margin relating to the relevant Interest Period in place of the Margin relating to that last preceding Interest Period). (e) If the Reference Rate from time to time in respect of Floating Rate Covered Bonds is specified in the applicable Final Terms as being other than EURIBOR or XXXXX, the Rate of Interest in respect of the Covered Bonds will be determined as provided in the applicable Final Terms); or. (f) If the Reference Rate from time to time in respect of the N Covered Bonds is specified in the applicable N Covered Bond Conditions as being other than EURIBOR or XXXXX, the Rate of Interest in respect of the N Covered Bonds will be determined as provided in the applicable N Covered Bond Conditions.

Interest determination. (a) The Principal Paying Agent shall: (i) where Where Screen Rate Determination and Overnight Rate are specified as "Applicable", the Reference Rate is specified as being "Compounded Daily XXXXX" and Index Determination is specified as "Not Applicable" in the applicable Final TermsTerms as the manner in which the Rate of Interest is to be determined, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Non-Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject as provided below, be either: (i) the offered quotation; or (ii) the arithmetic mean (rounded if necessary to Condition 4.2(b)(iithe fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations, (XXXXX - Xxxxxxxxxx Daily XXXXX (Non-Index Determination)expressed as a percentage rate per annum), be Compounded Daily XXXXX for the Reference Rate which appears or appear, as the case may be, on the Relevant Screen Page as at the Specified Time on the Interest Determination Date in question plus or minus (as indicated in the applicable Final Terms) the Margin (if any), all as calculated determined by the Principal Paying Fiscal Agent. If five or more offered quotations are available on the Relevant Screen Page, the highest (or, if there is more than one highest quotation, one only of those quotations) and the lowest (or, if there is more than one lowest quotation, one only of those quotations) shall be disregarded by the Fiscal Agent (or such other party responsible for the calculation purpose of determining the arithmetic mean (rounded as provided above) of the offered quotations. (b) If the Rate of InterestInterest cannot be determined in accordance with the foregoing provisions of this clause 8.2, the Rate of Interest shall be that determined as at the last preceding Interest Determination Date or, if the last preceding Interest Determination Date was the Interest Commencement Date, the initial Rate of Interest applicable to such Notes on such Interest Commencement Date, (though, in each case, substituting, where a different Margin is to be applied to the relevant Interest Period from that which applied to the last preceding Interest Period, the Margin relating to the relevant Interest Period in place of the Margin relating to that last preceding Interest Period). (c) If the Reference Rate from time to time in respect of Floating Rate Notes is specified in the applicable Final Terms); or (ii) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified Terms as being “Compounded Daily XXXXX” other than EURIBOR, ROBOR, PRIBOR, SIBOR, NIBOR or WIBOR and/or the applicable Final Terms provide for the determination of the Rate of Interest other than as set out above, the Rate of Interest in respect of the Notes will be determined as provided in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (XXXXX - Compounded Daily XXXXX (Index Determination)), be Compounded Daily XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (iii) where Screen Rate Determination and Overnight Rate are specified as "Applicable" and the Reference Rate is specified as being “Average XXXXX” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (Average XXXXX) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (Average XXXXX)), be Average XXXXX plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (iv) where Screen Rate Determination and Overnight Rate are specified as "Applicable", the Reference Rate is specified as being "Compounded Daily SOFR" and Index Determination is specified as "Not Applicable" in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Non-Index Determination)), be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or (v) where Screen Rate Determination, Overnight Rate and Index Determination are specified as "Applicable" and the Reference Rate is specified as being “Compounded Daily SOFR” in the applicable Final Terms, the provisions set out in Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)) shall apply and the Rate of Interest for each Interest Period will, subject to Condition 4.2(b)(ii) (SOFR - Compounded Daily SOFR (Index Determination)), be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms) the Margin (if any), as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms); or.