Common use of Successor Rate or Alternative Rate Clause in Contracts

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) and, in accordance with Condition 16, the Noteholders of such Successor Rate and that Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii)) subsequently be used by the Agent (or such other Calculation Agent specified in the applicable Final Terms) in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)). If there is no Successor Rate but the Issuer, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) and, in accordance with Condition 16, the Noteholders of such Alternative Rate and that Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)).

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) and, in accordance with Condition 16, the Noteholders of such Successor Rate and that Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii)) subsequently be used by the Agent (or such other Calculation Agent specified in the applicable Final Terms) in place of the Original Reference Rate to determine the relevant Rate(s) Rate of Interest (or the relevant component part(s) part thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)). If there is no Successor Rate but the Issuer, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) and, in accordance with Condition 16, the Noteholders of such Alternative Rate and that Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) Rate of Interest (or the relevant component part(s) part thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)).

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) ), the Trustee and, in accordance with Condition 1613, the Noteholders of such Successor Rate and that Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii4.3(b)) subsequently be used by the Agent (or such other Calculation Agent specified in the applicable Final Terms) in place of the Original Reference Rate to determine the relevant Rate(s) Rate of Interest (or the relevant component part(s) part thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)4.3). If there is no Successor Rate but the Issuer, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) ), the Trustee and, in accordance with Condition 1613, the Noteholders of such Alternative Rate and that Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii4.3(b)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) Rate of Interest (or the relevant component part(s) part thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)4.3).

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer Bank shall promptly notify the Fiscal Agent (or such other the Calculation Agent specified in or the applicable Final Terms) andISD Agent, as applicable, in accordance with Condition 1613, the Noteholders of such Successor Rate and that Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii4.4(b)) subsequently be used by the Fiscal Agent (or such other the Calculation Agent specified in or the applicable Final Terms) ISD Agent, as applicable, in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)4.4). If there is no Successor Rate but the IssuerBank, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer Bank shall promptly notify the Fiscal Agent (or such other the Calculation Agent specified in or the applicable Final Terms) ISD Agent, as applicable, and, in accordance with Condition 1613, the Noteholders of such Alternative Rate and that Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii4.4(b)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)4.4).

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer shall promptly shall, prior to the date which is five Business Days prior to the relevant Interest Determination Date, notify the Principal Paying Agent (or such other the Calculation Agent specified in the applicable Final Terms) Agent, as applicable, and, in accordance with Condition 1612, the Noteholders of such Successor Rate and that Rate. Such Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii4(e)(ii)) subsequently be used by the Principal Paying Agent (or such other the Calculation Agent specified in the applicable Final Terms) Agent, as applicable, in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c4(e)). If there is no Successor Rate but the Issuer, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer shall promptly shall, prior to the date which is five Business Days prior to the relevant Interest Determination Date, notify the Principal Paying Agent (or such other the Calculation Agent specified in the applicable Final Terms) Agent, as applicable, and, in accordance with Condition 1612, the Noteholders of such Alternative Rate and that Rate. Such Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii4(e)(ii)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c4(e)).

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer Bank shall promptly notify the Fiscal Agent (or such other the Calculation Agent specified in or the applicable Final Terms) andCSD Agent, as applicable, in accordance with Condition 1614, the Noteholders Covered Bondholders of such Successor Rate and that Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii6.3(b)) subsequently be used by the Fiscal Agent (or such other the Calculation Agent specified in or the applicable Final Terms) CSD Agent, as applicable, in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes Covered Bonds (subject to the further operation of this Condition 4(c)6.3). If there is no Successor Rate but the IssuerBank, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer Bank shall promptly notify the Fiscal Agent (or such other the Calculation Agent specified in or the applicable Final Terms) CSD Agent, as applicable, and, in accordance with Condition 1614, the Noteholders Covered Bondholders of such Alternative Rate and that Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii6.3(b)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes Covered Bonds (subject to the further operation of this Condition 4(c)6.3).

Successor Rate or Alternative Rate. If there is a Successor Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) ), the Trustee and, in accordance with Condition 1613, the Noteholders of such Successor Rate and that Successor Rate shall (subject to adjustment as provided in Condition 4(c)(ii4.3(b)) subsequently be used by the Agent (or such other Calculation Agent specified in the applicable Final Terms) in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)4.3). If there is no Successor Rate but the Issuer, acting in good faith, in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser, determines that there is an Alternative Rate, then the Issuer shall promptly notify the Agent (or such other Calculation Agent specified in the applicable Final Terms) ), the Trustee and, in accordance with Condition 1613, the Noteholders of such Alternative Rate and that Alternative Rate shall (subject to adjustment as provided in Condition 4(c)(ii4.3(b)) subsequently be used in place of the Original Reference Rate to determine the relevant Rate(s) of Interest (or the relevant component part(s) thereof) for all relevant future payments of interest on the Notes (subject to the further operation of this Condition 4(c)4.3).