Common use of ISDA Determination Clause in Contracts

ISDA Determination. (A) Where ISDA Determination is specified in the applicable Pricing Supplement as the manner in which the Rate of Interest is to be determined, the Rate of Interest shall (unless otherwise specified in the Pricing Supplement) be determined on such dates and at such rates as would have been determined by the Issuer if it had entered into an interest rate swap transaction governed by an agreement (regardless of any event of default or termination event thereunder) in the form of the Interest Rate and Currency Exchange Agreement incorporating the ISDA Definitions with the holder of the relevant Note under which: (1) the manner in which the Rate of Interest is to be determined is the “Floating Rate Option”; (2) the Issuer is the “Floating Rate Payer”; (3) the person specified in the applicable Pricing Supplement is the “Calculation Agent”; (4) the Interest Commencement Date is the “Effective Date”; (5) the aggregate paid up principal amount of the Series is the “Notional Amount”; (6) the relevant Interest Period is the “Designated Maturity”; (7) the relevant Reset Date is either (i) if the applicable Floating Rate Option is based on HIBOR or CNH HIBOR or EURIBOR for a currency, the first day of that Interest Period or (ii) in any other case, as specified in the applicable Pricing Supplement; and (8) all other terms are as specified in the applicable Pricing Supplement.

ISDA Determination. (A) Where ISDA Determination is specified in the applicable Pricing Supplement as the manner in which the Rate of Interest is to be determined, the Rate of Interest shall (unless otherwise specified in the Pricing Supplement) be determined on such dates and at such rates as would have been determined by the Issuer if it had entered into an interest rate swap transaction governed by an agreement (regardless of any event of default or termination event thereunder) in the form of the Interest Rate and Currency Exchange Agreement incorporating the ISDA Definitions with the holder of the relevant Note under which: (1) the manner in which the Rate of Interest is to be determined is the “Floating Rate Option”; (2) the Issuer is the “Floating Rate Payer”; (3) the person specified in the applicable Pricing Supplement is the “Calculation Agent”; (4) the Interest Commencement Date is the “Effective Date”; (5) the aggregate paid up principal amount of the Series is the “Notional Amount”; (6) the relevant Interest Period is the “Designated Maturity”; (7) the relevant Reset Date is either (i) if the applicable Floating Rate Option is based on LIBOR, or HIBOR or CNH HIBOR or EURIBOR for a currency, the first day of that Interest Period or (ii) in any other case, as specified in the applicable Pricing Supplement; and (8) all other terms are as specified in the applicable Pricing Supplement.or