Common use of Interest Rate Bases for Floating Interest Rates Clause in Contracts

Interest Rate Bases for Floating Interest Rates. The basis for the floating interest rate on any Note during any Interest Rate Period may include, but is not limited to, any of the following bases (each, an "Interest Rate Basis"): (1) If an Interest Rate Basis for any Note is specified in the applicable Floating Interest Rate Notice as the "CD Rate," the CD Rate shall mean, with respect to any Interest Determination Date relating to a Note for which the interest rate is determined with reference to the CD Rate (a "CD Rate Interest Determination Date"), the rate on such date for negotiable United States dollar certificates of deposit having the Index Maturity specified in the applicable Floating Interest Rate Notice as published in H.15(519) under the heading "CDs (Secondary Market)," or, if not published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on such CD Rate Interest Determination Date for negotiable United States dollar certificates of deposit of the Index Maturity specified in the applicable Floating Interest Rate notice as published in Composite Quotations under the heading "Certificates of Deposit." If such rate is not yet published in either H.15(519) or Composite Quotations by 3:00 p.m., New York City time, on the related Calculation Date, then the CD Rate on such CD Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the secondary market offered rates as of 10:00 a.m., New York City time, on such CD Rate Interest Determination Date, of three leading nonbank dealers in negotiable United States dollar certificates of deposit in the City of New York (which may include the Remarketing Agent or its affiliates) selected by the Calculation Agent, after consultation with the Company, for negotiable United States dollars certificates of deposit of major United States money center banks for negotiable certificates of deposit with a remaining maturity closest to the Index Maturity specified in the applicable Floating Interest Rate Notice in an amount that is representative for a single transaction in that market at that time; provided, however, that if the dealers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the CD Rate determined as of such CD Rate Interest Determination Date will be the CD Rate in effect on such CD Rate Interest Determination Date. (2) If an Interest Rate Basis for any Note is specified in the applicable Floating Interest Rate Notice as the "CMT Rate," the CMT Rate shall mean, with respect to any Interest Determination Date relating to a Note for which the interest rate is determined with reference to the CMT Rate (a "CMT Rate Interest Determination Date"), the rate displayed on the Designated CMT Telerate Page under the caption "...

Interest Rate Bases for Floating Interest Rates. The basis for the floating interest rate on any Note during any Interest Rate Period may include, but is not limited to, any of the following bases (each, an "Interest Rate BasisINTEREST RATE BASIS"): (1) If an Interest Rate Basis for any Note is specified in the applicable Floating Interest Rate Notice as the "CD RateRATE," the CD Rate shall mean, with respect to any Interest Determination Date relating to a Note for which the interest rate is determined with reference to the CD Rate (a "CD Rate Interest Determination DateRATE INTEREST DETERMINATION DATE"), the rate on such date for negotiable United States dollar certificates of deposit having the Index Maturity specified in the applicable Floating Interest Rate Notice as published in H.15(519) under the heading "CDs (Secondary Market)," or, if not published by 3:00 p.m.9:00 a.m., New York City time, on the related Calculation Date, the CD Rate will be the rate on such CD Rate Interest Determination Date set forth in the daily update of H.15(519) , available through the world wide website of the Board of Governors of the Federal Reserve System at xxxx://xxx.xxx.xxx.xxx.xx/releases/h15/update, or any successor site or publication ("H.15 Daily Update") for negotiable United States dollar the day in respect of certificates of deposit of having the Index Maturity specified in the applicable Floating Interest Rate notice as published in Composite Quotations Notice under the heading caption "Certificates of DepositCDs (Secondary Market)." If such rate is not yet published in either H.15(519) or Composite Quotations the H.15 Daily Update by 3:00 p.m., New York City time, on the related Calculation Date, then the CD Rate on such CD Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the secondary market offered rates as of 10:00 a.m., New York City time, on such CD Rate Interest Determination Date, of three leading nonbank dealers in negotiable United States dollar certificates of deposit in the City of New York (which may include the Remarketing Agent or its affiliates) selected by the Calculation Agent, after consultation with the Company, for negotiable United States dollars certificates of deposit of major United States money center banks of the highest credit standing in the market for negotiable certificates of deposit with a remaining maturity closest to the Index Maturity specified in the applicable Floating Interest Rate Notice in an amount that is representative for a single transaction in that market at that time; providedPROVIDED, howeverHOWEVER, that if the dealers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the CD Rate determined as of such CD Rate Interest Determination Date will be the CD Rate in effect on such CD Rate Interest Determination Date. (2) If an Interest Rate Basis for any Note is specified in the applicable Floating Interest Rate Notice as the "CMT RateRATE," the CMT Rate shall mean, with respect to any Interest Determination Date relating to a Note for which the interest rate is determined with reference to the CMT Rate (a "CMT Rate Interest Determination DateRATE INTEREST DETERMINATION DATE"), the rate displayed on the Designated CMT Telerate Page under the caption "...