5-year CMT Rate definition
5-year CMT Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period, the rate (expressed as a percentage rate and rounded, if necessary, to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) which is equal to:
5-year CMT Rate means the USD-CMT-T7051 Rate with a Designated Maturity of 5 years.
Examples of 5-year CMT Rate in a sentence
On December 31, 2005, and on December 31 every five (5) years thereafter, the previous dividend rate shall be replaced by the then-current 5-year CMT Rate plus two percent (2%).
The 5-year CMT Rate for each 5-year period shall be determined by the Calculation Agent on the second Business Day immediately preceding the first day of such period (each a "CMT Determination Date").