Common use of Successor Rate or Alternative Rate Clause in Contracts

Successor Rate or Alternative Rate. If the Independent Adviser determines that: (i) there is a Successor Rate, then such Successor Rate and the applicable Adjustment Spread shall subsequently be used in place of the EUR 5 year Swap Rate to determine the Prevailing Interest Rate (or the relevant component part thereof) for payments of interest on the Securities in the next succeeding Reset Period (subject to the operation of this Condition 4(d)(ii)); or (ii) there is no Successor Rate but that there is an Alternative Rate, then such Alternative Rate and the applicable Adjustment Spread shall be subsequently be used in place of the EUR 5 year Swap Rate to determine the Prevailing Interest Rate (or the relevant component part thereof) for payments of interest in the next succeeding Reset Period on the Securities (subject to the operation of this Condition 4(d)(ii)).