Relevant Swap Rate definition

Relevant Swap Rate means, where the Reference Currency is Euro, the mid-market annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating euro interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, in each case calculated on an Actual/360 day count basis, is equivalent to EUR-EURIBOR-Reuters (as defined in the ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc. and as amended and updated as at the Issue Date of the first Tranche of the Notes (the "ISDA Definitions")) with a designated maturity determined by the Calculation Agent by reference to standard market practice and/or the ISDA Definition..

Relevant Swap Rate means where the Reference Currency is Euro, the mid-market annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating euro interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, in each case calculated on an Actual/360 day count basis, is equivalent to EUR-EURIBOR-Reuters (as defined in the ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc. and as amended and updated as at the Issue Date of the first Tranche of the Notes (the "ISDA Definitions")) with a designated maturity determined by the Calculation Agent by reference to standard market practice and/or the ISDA Definitions; Representative Amount means an amount that is representative for a single transaction in the relevant market at the relevant time.

Relevant Swap Rate means where the Reference Currency is Euro, the mid-market annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating euro interest

Examples of Relevant Swap Rate in a sentence

• If the Relevant Screen Page is not available, the Calculation Agent shall request each of the CMS Reference Banks to provide the Calculation Agent with its quotation for the Relevant Swap Rate (expressed as a percentage rate per annum) at approximately the Relevant Time on the Interest Determination Date in question.

• If as of [the] [a] Reset Rate of Interest Determination Date only one of the Reference Banks provides a quotation for the [respective Relevant] Swap Rate, the [respective Relevant] Swap Rate shall be equal to the rate quoted by such Refer- ence Bank.

• First, in response to a Commission order granting an interlocutory appeal and requiring that additional testimony be permitted, the ALJ reconvened the hearing that had taken place December 16-20, 2002, for an additional two days in January 2003.

• If the [respective Relevant ] Swap Rate cannot be determined in accordance with the foregoing provisions of this paragraph, the [respective Relevant] Swap Rate shall be the quotation or the arithmetic mean of the quotations on the Screen Page, as described above, on the last day preceding the Reset Rate of Interest Determination Date on which such quotations were offered.[“ Margin [for the first Reset Period]” means [●] per cent.

• LIBOR"), Euro Interbank Offered Rate ("EURIBOR"), Canadian Dollars Offered Rate ("CDOR"), CNH Hong Kong interbank offered rate ("CNH HIBOR"), Hong Kong interbank offered rate ("HIBOR"), the Relevant Swap Rate (as defined in the Conditions) and other IBOR rates and indices) are the subject of recent national, international and other regulatory guidance and proposals for reform.

• If the Relevant Screen Rate is not available, the Additional Calculation Agent shall request each of the CMS Reference Banks to provide the Additional Calculation Agent with its quotation for the Relevant Swap Rate at approximately 11.00 a.m. (local time in the Principal Financial Centre of the Specified Currency) on the Interest Determination Date in question.

• If two or more of the Reference Banks provide the Cal- culation Agent with such quotations, the [respective Relevant] Swap Rate shall be the arithmetic mean (rounded if nec- essary to the nearest one thousandth of a percentage point, with 0.0005 being rounded upwards) of such quotations.

• If the [respective Relevant] Swap Rate cannot be determined in accordance with the foregoing provisions of this paragraph, the [respective Relevant] Swap Rate shall be the quotation or the arithmetic mean of the quotations on the Screen Page, as described above, on the last day preceding the Reset Rate of Interest Determination Date on which such quotations were offered.[“Margin [for the first Reset Period]” means [●] per cent.

• Note that where an ICED occurs with respect to the Relevant Swap Rate itself, the outcome is as per the position “Pre-ICED” above.

More Definitions of Relevant Swap Rate

Relevant Swap Rate means, if the applicable Issue Terms specify:

Relevant Swap Rate with respect to any Relevant Loan, the rate of interest shown on the Bloomberg service, page USSWAP7, "Trade Recap" screen with the "Composite (NY)" source as the fixed rate (calculated on the basis of a 360-day year of twelve 30-day months and payable on a quarterly basis) under a seven year U.S. dollar swap transaction for USD LIB OR -BBA (calculated on a 360-day year and an actual days payable on a quarterly basis), determined on the second Business Day prior to the Relevant Borrowing Date of such Relevant Loan at 11:00 a.m., New York time, or if no such rate is shown at such time, then the rate shown on such Bloomberg screen soonest thereafter.

Relevant Swap Rate means the mid market 10 year swap rate, calculated as the arithmetical average of the bid and ask rates quoted on Bloomberg ticker reference IRSB17, at the date of entering the lease for the Additional Pendolino Stock.

Relevant Swap Rate means: (i) where the Reference Currency is euro, the mid-market annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating euro interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, in each case calculated on an Actual/360 day count basis, is equivalent to the ISDA Rate specified in the applicable Final Terms with (if applicable) a designated maturity equivalent to the ISDA Rate Designated Maturity specified in the applicable Final Terms, all as determined by the Calculation Agent or Determination Agent (as applicable) by reference to standard market practice and/or the ISDA Definitions;(ii) where the Reference Currency is Sterling, the mid-market semi- annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the semi-annual fixed leg, calculated on an Actual/365 (Fixed) day count basis, of a fixed-for-floating Sterling interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, in each case calculated on an Actual/365 (Fixed) day count basis, is equivalent to the ISDA Rate specified in the applicable Final Terms with (if applicable) a designated maturity equivalent to the ISDA Rate Designated Maturity specified in the applicable Final Terms, all as determined by the Calculation Agent or Determination Agent (as applicable) by reference to standard market practice and/or the ISDA Definitions; (iii) where the Reference Currency is U.S. dollars, the mid-market semi- annual swap rate determined on the basis of the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating U.S. dollar interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on an Actual/360 day count basis, is equivalent to the ISDA Rate specified in the applicable Final Ter...

Relevant Swap Rate means: [insert in case of an EUR Swap Rate:the fixed rate under an annual interest rate swap for euro swap transactions with a floating leg of euro EURIBOR and for a period of the Designated Maturity (where applicable) provided by the relevant administrator ("EUR Swap Rate")][insert in case of an GBP Swap Rate: the fixed rate under a fixed-for-floating interest rate swap for Sterling swap transactions with a floating leg of compounded SONIA and for a period of the Designated Maturity (where applicable) provided by the relevant administrator ("GBP Swap Rate")] [insert in case of an JPY 10:00 Swap Rate: the 10:00 fixed rate under a fixed-for-floating interest rate swap for Yen swap transactions with a floating leg of compounded TONA (being the Tokyo Overnight Average Rate, known as TONA) and for a period of the Designated Maturity (where applicable) provided by the relevant administrator ("JPY 10:00 Swap Rate")] [insert in case of an JPY 15:00 Swap Rate: the 15:00 fixed rate under a fixed-for-floating interest rate swap for Yen swap transactions with a floating leg of compounded TONA (being the Tokyo Overnight Average Rate, known as TONA) and for a period of the Designated Maturity (where applicable) provided by the relevant administrator ("JPY 15:00 Swap Rate")] [insert in case of an USD LIBOR Swap Rate: the fixed rate under a semi-annual interest rate swap for U.S. dollar swap transactions with a floating leg of U.S. dollar LIBOR and for a period of the Designated Maturity (where applicable) provided by the relevant administrator ("USD LIBOR Swap Rate")] [insert in case of an USD SOFR Swap Rate: the fixed rate under a fixed-for-floating interest rate swap for U.S. dollar swap transactions with a floating leg of compounded SOFR and for a period of the Designated Maturity (where applicable) provided by the relevant administrator ("USD SOFR Swap Rate"] [insert in case of an Mid-Market Swap Rate: the mid-market swap rate as determined by the Calculation Agent in accordance with standard market practice ("Mid-Market Swap Rate")]."; (j) Valuation and Settlement Condition 3.1 (Definitions) shall be amended by the deletion of the definition of "Specified Time" on page 555 and its replacement by the following:

Relevant Swap Rate means: where the Reference Currency is Euro, the mid-market annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating euro interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, in each case calculated on an Actual/360 day count basis, is equivalent to EUR- EURIBOR-Reuters (as defined in the ISDA Definitions) with a designated maturity determined by the Agent by reference to standard market practice and/or the ISDA Definitions; where the Reference Currency is Sterling, the mid-market semi-annual swap rate determined on the basis of the arithmetic mean of the bid and offered rates for the semi-annual fixed leg, calculated on an Actual/365 (Fixed) day count basis, of a fixed-for-floating Sterling interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, in each case calculated on an Actual/365 (Fixed) day count basis, is equivalent (A) if the Designated Maturity is greater than one year, to GBP-LIBOR-BBA (as defined in the ISDA Definitions) with a designated maturity of six months or (B) if the Designated Maturity is one year or less, to GBP-LIBOR- BBA with a designated maturity of three months; where the Reference Currency is United States dollars, the mid-market semi-annual swap rate determined on the basis of the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating United States dollar interest rate swap transaction with a term equal to the Designated Maturity commencing on the first day of the relevant Interest Period and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on an Actual/360 day count basis, is equivalent to USD-LIBOR-BBA (as defined in the ISDA Definitions) with a designated maturity of three months; and where the Reference Currency is any other currency or if the Final Terms specify otherwise, the mid-market swap rate as determined in accordance with the applicable Final Terms.