Observation Shift definition

Observation Shift is specified as the Observation Method in the applicable Final Terms, the Observation Period relating to such Interest Period;

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Observation Shift is specified as the Observation Method in the applicable Final Terms, the number of U.S. Government Securities Business Days in the relevant Observation Period;

Observation Shift is specified as the Observation Method in the applicable Final Terms, the number of London Banking Days specified as the “Observation Shift Period” in the applicable Final Terms (or, if no such number is specified, five London Banking Days);

Examples of Observation Shift in a sentence

• If, with respect to any Interest Period, the relevant rate is not published for the Compounded Index either on the relevant Start or End date, then the Agent shall calculate the rate of interest for that Interest Period as if Index Determination was specified in the applicable Final Terms as not being applicable and Observation Shift had been specified as the Observation Method in the applicable Final Terms, and where the Observation Shift Period shall be deemed to be the same as the Relevant Number.

• The determination will follow a "Lookback without Observation Shift" approach such that for the purposes of the calculation: the RFR applicable to any RFR Banking Day in the Interest Period will be the RFR for the day which is the Lookback Period prior to that RFR Banking Day; and the weighting given to that RFR will be determined by reference to that RFR Banking Day.

• The determination will follow a "Lookback with Observation Shift" approach such that: the RFR applicable to any RFR Banking Day in the Interest Period will be the RFR for the day (the "Observation Day") which is the Lookback Period prior to that RFR Banking Day; and the weighting given to that RFR will be determined by reference to the Observation Day.

More Definitions of Observation Shift

Observation Shift is specified as the Observation Method in the applicable Final Terms, the number of Business Days included in the Observation Look-back Period specified in the applicable Final Terms (or, if no such number is specified two Business Days);

Observation Shift is specified as the Observation Method in the applicable Final Terms, the relevant London Banking Day “i”.

Observation Shift is specified as the Observation Method, in respect of any Business Day, the €STR in respect of such Business Day;

Observation Shift is specified as the Observation Method in the applicable Final Terms, the relevant Observation Period; i is a series of whole numbers from one to do, each representing a London Banking Day in chronological order from, and including, the first London Banking Day in: (1) where “Lag” is specified as the Observation Method in the applicable Final Terms, the relevant Interest Period; or

Observation Shift is specified as the Observation Method in the applicable Final Terms, the number of London Banking Days specified as the “Observation Shift Period” in the applicable Final Terms (or, if no such number is specified, five London Banking Days); the "▇▇▇▇▇ reference rate", in respect of any London Banking Day ("LBDx"), is a reference rate equal to the daily Sterling Overnight Index Average ("▇▇▇▇▇") rate for such LBDx as provided by the administrator of ▇▇▇▇▇ to authorised distributors and as then published on the Relevant Screen Page (or, if the Relevant Screen Page is unavailable, as otherwise published by such authorised distributors) on the London Banking Day immediately following LBDx; and

Observation Shift is specified as the Observation Method in the applicable Final Terms, the number of London Banking Days specified as the “Observation Shift Period” in the applicable Final Terms (or, if no such number is so specified, five London Banking Days); ▇▇▇▇▇ reference rate means, in respect of any London Banking Day (LBDx), a reference rate equal to the daily Sterling Overnight Index Average (▇▇▇▇▇) rate for LBDx as provided by the administrator of ▇▇▇▇▇ to authorised distributors and as then published on the Relevant Screen Page (or, if the Relevant Screen Page is unavailable, as otherwise published by such authorised distributors) on the London Banking Day immediately following LBDx; and ▇▇▇▇▇▇ means the ▇▇▇▇▇ reference rate for: (1) where “Lag” is specified as the Observation Method in the applicable Final Terms, the London Banking Day falling "p" London Banking Days prior to the relevant London Banking Day "i"; or

Observation Shift is specified as the Observation Method in the relevant Final Terms; the relevant London Banking Day “i”; If, in respect of any London Banking Day in the relevant Interest Period or Observation Period (as applicable), the Calculation Bank determines that the ▇▇▇▇▇ Reference Rate is not available on the Relevant Screen Page or has not otherwise been published by the relevant authorised distributors, such ▇▇▇▇▇ Reference Rate shall, subject to Condition 5A (Benchmark discontinuation), be: