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Base Rate Modification definition

Base Rate Modification has the meaning given to it in Condition 13 (Meetings of Holders of the Covered Bonds, Modification and Waiver);
Base Rate Modification has the meaning given to it in the Conditions; “Bearer Covered Bonds” means Covered Bonds in bearer form;
Base Rate Modification means a change of the base rate in respect of the Class A Notes from EURIBOR to an Alternative Base Rate and such other amendments as are necessary or advisable in the reasonable judgement of the Issuer to facilitate such change;

Examples of Base Rate Modification in a sentence

  • Where there is no applicable Clearing System, Covered Bondholders may object in writing to a Base Rate Modification by notifying the Issuer or the Issuing and Paying Agent but any such objection in writing must be accompanied by evidence to the Bond Trustee’s satisfaction (having regard to prevailing market practices) of the relevant Covered Bondholder’s holding of the Covered Bonds.

  • In relation to any such Proposed Amendments, the Issuer is required, amongst other things, to certify in writing to the Note Trustee and the Security Trustee that the Issuer has provided at least 30 calendar days' notice (and where the Proposed Amendment is a Base Rate Modification, 40 calendar days' notice) to the Noteholders of each Class of the proposed modification in accordance with Condition 16 (Notice to Noteholders).

  • Investors should note the various circumstances under which a Base Rate Modification may be made which are specified in sub-paragraphs (1) to (9) of Condition 15(a)(iv) (Base Rate Modification).

  • The Issuer shall use reasonable endeavours to agree modifications to each hedging agreement where commercially appropriate so that the transaction is hedged following the Base Rate Modification to a similar extent as prior to the Base Rate Modification, and that such modifications shall take effect within 30 calendar days following the Base Rate Modification taking effect.

  • An amendment may be made under Condition 15 (Base Rate Modification) to change the SONIA rate on the Notes to an alternative base rate (including a base rate that remains linked to SONIA but calculated in a different manner) under certain circumstances and subject to certain conditions including no objection to the proposal being received by at least 10 per cent.

  • These events broadly relate to SONIA's disruption or discontinuation, but also include, inter alia, any public statements by the SONIA administrator or its supervisor to that effect, and a Base Rate Modification may also be made if PML as Administrator reasonably expects any of these events to occur within six months of the proposed effective date of such Base Rate Modification.

  • Should a Base Rate Modification take effect, this could negatively affect the yield and the market value of the Class A Notes.

  • This, in turn, could cause a risk of mismatch of interest and reduced payments on the Floating Rate Notes.Investors should note the various circumstances under which a Base Rate Modification may be made, which are specified in Condition 13.6 (Additional Right of Modification).

  • Base Rate Modification and Swap Rate Modification) of the Terms and Conditions of the Notes to change the base rate on the Notes from EURIBOR to an alternative base rate under certain circumstances broadly related to EURIBOR dysfunction or discontinuation and subject to certain conditions being satisfied including no objection to the proposal being received by at least 10 per cent.

  • Schedule Rating - Base Rate Modification Plan The following modification may be applied to each Device Class rate in order to reflect such characteristicsof the manufacturer risk group which are not otherwise reflected in the premium rate calculation in items 1 and 2 above.


More Definitions of Base Rate Modification

Base Rate Modification has the meaning given to it in the Conditions;
Base Rate Modification has the meaning given to it in Condition 14(d) of the Programme Conditions; Base Rate Modification Certificate has the meaning given to it in Condition 14(d)(A) of the Programme Conditions;

Related to Base Rate Modification

  • Base Rate Term Loan means any portion of a Term Loan during any period in which such portion bears interest based on the Base Rate.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Base Rate Advance means an Advance that bears interest at a rate based upon the Base Rate.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • LIBOR Successor Rate Conforming Changes means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement).

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on the Eurodollar Rate.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Revolving Loan Maturity Date means (a) the date which is five years from the Closing Date or (b) such earlier date upon which the Revolving Commitments may be terminated in accordance with the terms hereof.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Eurocurrency Base Rate means, for such Interest Period:

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Maturity Date Extension Request means a request by the Borrower, in the form of Exhibit G hereto or such other form as shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.