ECB Recommended Rate definition

ECB Recommended Rate means a rate (inclusive of any spreads or adjustments) recommended as the replacement for €STR by the European Central Bank (or any successor administrator of €STR) and/or by a committee officially endorsed or convened by the European Central Bank (or any successor administrator of €STR) for the purpose of recommending a replacement for €STR (which rate may be produced by the European Central Bank or another administrator), as determined by the Issuer and notified by the Issuer to the Calculation Agent;

ECB Recommended Rate means a reference rate equal to ECB Recommended Rate, as defined in Condition 5(c)(iii)(C)(e), plus 0.085%;

ECB Recommended Rate means the rate (inclusive of any spreads or adjustments) recommended as the replacement for EuroSTR by the European Central Bank (or any successor administrator of EuroSTR) and/or by a committee officially endorsed or convened by the European Central Bank (or any successor administrator of EuroSTR) for the purpose of recommending a replacement for EuroSTR (which rate may be produced by the European Central Bank or another administrator);

Examples of ECB Recommended Rate in a sentence

• If an ECB Recommended Rate has been recommended and both an ECB Recommended Rate Index Cessation Event and an ECB Recommended Rate Index Cessation Effective Date subsequently occur, then the rate of €STR for each TARGET Business Day in the relevant Observation Period occurring on or after that ECB Recommended Rate Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

• If no ECB Recommended Rate has been recommended before the end of the first TARGET Business Day following the date on which the €STR Index Cessation Event occurs, then the rate of €STR for each TARGET Business Day in the relevant Observation Period on or after the €STR Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

• If the €STR is not published, as specified above, on any particular TARGET Business Day and both an €STR Index Cessation Event and an €STR Index Cessation Effective Date have occurred, the rate of €STR for each TARGET Business Day in the relevant Observation Period on or after such €STR Index Cessation Effective Date will be determined as if references to €STR were references to the ECB Recommended Rate.

• If no ECB Recommended Rate has been recommended before the end of the first TARGET 2 Business Day following the date on which the €STR Index Cessation Event occurs, then the rate of €STR for each TARGET 2 Business Day in the relevant Observation Period on or after the €STR Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

• If the €STR is not published, as specified above, on any particular TARGET 2 Business Day and both an €STR Index Cessation Event and an €STR Index Cessation Effective Date have occurred, the rate of €STR for each TARGET 2 Business Day in the relevant Observation Period on or after such €STR Index Cessation Effective Date will be determined as if references to €STR were references to the ECB Recommended Rate.

• If an ECB Recommended Rate has been recommended and both an ECB Recommended Rate Index Cessation Event and an ECB Recommended Rate Index Cessation Effective Date subsequently occur, then the rate of €STR for each TARGET 2 Business Day in the relevant Observation Period occurring on or after that ECB Recommended Rate Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

• If no ECB Recommended Rate has been recommended before the end of the first TARGET 2 Business Day following the date on which the €STR Index Cessation Event occurs, then the rate of EONIA for each TARGET 2 Business Day in the relevant Observation Period on or after the €STR Index Cessation Effective Date will be determined as if references to EONIA were references to the Modified EDFR (EONIA).

• If an ECB Recommended Rate has been recommended and both an ECB Recommended Rate Index Cessation Event and an ECB Recommended Rate Index Cessation Effective Date subsequently occur, then the rate of EONIA for each TARGET 2 Business Day in the relevant Observation Period occurring on or after that ECB Recommended Rate Index Cessation Effective Date will be determined as if references to EONIA were references to the Modified EDFR (EONIA).

• If the Modified €STR is not published, as specified above, on any particular TARGET 2 Business Day and both an €STR Index Cessation Event and an €STR Index Cessation Effective Date have occurred, the rate of EONIA for each TARGET 2 Business Day in the relevant Observation Period on or after such €STR Index Cessation Effective Date will be determined as if references to EONIA were references to the ECB Recommended Rate.

• If no ECB Recommended Rate has been recommended before the end of the first T2 Business Day following the date on which the €STR Index Cessation Event occurs, then the rate of €STR for each T2 Business Day in the relevant Observation Period on or after the €STR Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

More Definitions of ECB Recommended Rate

ECB Recommended Rate means a rate (inclusive of any spreads or adjustments) recommended as the replacement for

ECB Recommended Rate means the rate (including any spreads or adjustments) recommended as a substitute for €STR® by the European Central Bank (or any successor administrator to €STR®) and/or by any committee officially approved or convened by the European Central Bank (or any successor administrator to €STR®) for the purpose of recommending a substitute for €STR®, recommended and provided by the administrator of such rate (or any fallback administrator) or, if such rate is not provided by the administrator (or any fallback administrator), published by an authorised distributor.

ECB Recommended Rate means the rate (inclusive of any spreads or adjustments) recommended as the replacement for €STR by (i) the European Central Bank (or, failing which, any successor administrator of

ECB Recommended Rate means the rate (inclusive of any spreads or adjustments) recommended as the replacement for EuroSTR by (i) the European Central Bank (or, failing which, any successor administrator of EuroSTR) or, failing which, (ii) a committee officially endorsed or convened by the European Central Bank (or, failing which, any successor administrator of EuroSTR) for the purpose of recommending a replacement for EuroSTR (such replacement being produced by the European Central Bank or another administrator), all as determined by the Issuer and notified by the Issuer to the Calculation Agent.

ECB Recommended Rate means the interest rate (including any spreads and adjustments) recommended (i) by the European Central Bank (or a replacement administrator for the €STR) or (ii) by an entity officially nominated by the European Central Bank (or a replacement administrator for the €STR) as a replacement for €STR. 1 This Supplemental Agreement is NOT intended to cover transactions (in particular OTC-derivative transactions) referring to EONIA. 2 Delete and/or complete as appropriate.

ECB Recommended Rate means the rate (including any spreads or adjustments) recommended as a substitute for €STR® by the European Central Bank (or any successor administrator to €STR®) and/or by any committee officially approved or convened by the European Central Bank (or any successor administrator to €STR®) for the purpose of recommending a substitute for €STR®, recommended and