Cumulative Step Up Margin definition
Cumulative Step Up Margin means the amount specified in the applicable Final Terms as being the Cumulative Step Up Margin.
Examples of Cumulative Step Up Margin in a sentence
Such notice shall be irrevocable and shall specify the Initial Rate of Interest (in the case of Fixed Rate Notes) or the Initial Margin (in the case of Floating Rate Notes) and the relevant Step Up Margin (or Cumulative Step Up Margin if the applicable Final Terms specifies that a Cumulative Step Up Event is applicable).
If the applicable Final Terms specifies that a Cumulative Step Up Event is applicable (comprising more than one Step Up Event), upon the occurrence of any Step Up Event comprising the Cumulative Step Up Event the Rate of Interest or, in the case of Floating Rate Notes, the Initial Margin shall be increased by the Cumulative Step Up Margin from the next following Interest Period.