Common use of Successor Rate or Alternative Rate Clause in Contracts

Successor Rate or Alternative Rate. If the Issuer, following consultation with the Independent Adviser and acting in good faith and in a commercially reasonable manner, determines that: (i) there is a Successor Rate, then such Successor Rate shall (subject to adjustment as provided in Condition 4.5(c), if applicable) 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 4.5); or (ii) there is no Successor Rate but that there is an Alternative Rate, then such Alternative Rate shall (subject to adjustment as provided in Condition 4.5(c), if applicable) 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 4.5).

Successor Rate or Alternative Rate. If the Issuer, following consultation with the Independent Adviser and acting in good faith and in a commercially reasonable manner, determines that: (i) there is a Successor Rate, then such Successor Rate shall (subject to adjustment as provided in Condition 4.5(c4.3(c), if applicable) 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 4.54.3); or (ii) there is no Successor Rate but that there is an Alternative Rate, then such Alternative Rate shall (subject to adjustment as provided in Condition 4.5(c4.3(c), if applicable) 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 4.54.3).

Successor Rate or Alternative Rate. If the Issuer, following consultation with the Independent Adviser and acting in good faith and in a commercially reasonable manner, determines that: (iA) there is a Successor Rate, then such Successor Rate shall (subject to adjustment as provided in Condition 4.5(c3(g)(iii), if applicable) 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 4.53(g)); or (iiB) there is no Successor Rate but that there is an Alternative Rate, then such Alternative Rate shall (subject to adjustment as provided in Condition 4.5(c3(g)(iii), if applicable) 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 4.53(g)).

Successor Rate or Alternative Rate. If the Issuer, following consultation with the Independent Adviser and acting in good faith and in a commercially reasonable manner, manner and following consultation with the Issuer determines that: (ia) there is a Successor Rate, then such Successor Rate shall (subject to adjustment as adjusted by the applicable Adjustment Spread as provided in Condition 4.5(c5(c)(iii), if applicable) shall 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 4.55(c)); or (iib) there is no Successor Rate but that there is an Alternative Rate, then such Alternative Rate shall (subject to adjustment as adjusted by the applicable Adjustment Spread as provided in Condition 4.5(c5(c)(iii), if applicable) shall 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 4.55(c)).

Successor Rate or Alternative Rate. If the relevant Issuer, following consultation with the Independent Adviser and acting in good faith and in a commercially reasonable manner, determines that: (iA) there is a Successor Rate, then such Successor Rate shall (subject to adjustment as provided in Condition 4.5(c9(iii) (Adjustment Spread), if applicable) 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 4.5Condition9(i)); or (iiB) there is no Successor Rate but that there is an Alternative Rate, then such Alternative Rate shall (subject to adjustment as provided in Condition 4.5(c9(iii) (Adjustment Spread), if applicable) 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 4.5Condition9(i)).