Replacement Reference Rate means a reference rate which is:
Replacement Reference Rate means the reference rate which it is agreed in accordance with the above provisions will replace the Screen Rate for the purpose of this Agreement.
Replacement Reference Rate means, in respect of a Reference Rate, an index, benchmark or other price source that the Calculation Agent determines to be a commercially reasonable alternative for such Reference Rate, provided that the Replacement Reference Rate must be:
Examples of Replacement Reference Rate in a sentence
In addition, the Replacement Reference Rate may perform differently from the Reference Rate.
In addition, due to the uncertainty concerning the availability of a Replacement Reference Rate, the relevant fallback provisions may not operate as intended at the relevant time.
The aim of the Adjustment Spread is to reduce or eliminate, so far as practicable, any economic prejudice or benefit (as the case may be) to Covered Bondholders as a result of the replacement of the Reference Rate with the Replacement Reference Rate.
The adjustment factor or spread shall reflect and neutralise potential value changes in connection with the use of the Replacement Reference Rate.
The Conditions also provide that an Adjustment Spread may be determined by the Rate Determination Agent to be applied to the Replacement Reference Rate.
More Definitions of Replacement Reference Rate
Replacement Reference Rate means, in respect of a Reference Rate:
Replacement Reference Rate means, in case of a Benchmark Event, the substitute or successor rate to determine the relevant Reference Rate on the relevant Interest Determination Date falling on or after such determination, as determined by the Rate Determination Agent in accordance with Condition 4(b)(iv).
Replacement Reference Rate means a reference rate which is:
(a) formally designated, nominated or recommended as the replacement for a Published Rate by:
(i) the administrator of that Published Rate (provided that the market or economic reality that such reference rate measures is the same as that measured by that Published Rate); or
(ii) any Relevant Nominating Body, and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the “Replacement Reference Rate” will be the replacement under paragraph (ii) above;
(b) in the opinion of the Majority Banks and the Borrowers, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to a Published Rate; or
(c) in the opinion of the Majority Banks and the Borrowers, an appropriate successor to a Published Rate.
Replacement Reference Rate means, in respect of a Reference Rate, an index, benchmark or other price source or rate that the Calculation Agent or Determination Agent (as applicable) determines to be a commercially reasonable alternative for such Reference Rate, PROVIDED THAT the Replacement Reference Rate must be any one of the following:
Replacement Reference Rate means a reference rate which is:
(a) formally designated, nominated or recommended as the replacement for
a Published Rate by:
(i) the administrator of that Published Rate (provided that the market or economic reality that such reference rate measures is the same as that measured by that Published Rate); or
(ii) any Relevant Nominating Body, and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the “Replacement Reference Rate” will be the replacement under paragraph (ii) above;
(b) in the opinion of the Majority Lenders and the Obligors, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to a Published Rate; or
(c) in the opinion of the Majority Lenders and the Obligors, an appropriate successor to
Replacement Reference Rate means an alternate benchmark rate that has been selected by Agent in consultation with Borrower Representative, giving due consideration to (i) then-prevailing market convention for determining a rate of interest as a replacement to the LIBO Rate for U.S. dollar-denominated credit facilities, (ii) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by any applicable Governmental Authority, and (iii) any spread adjustment to account for the effects of the transition from the LIBO Rate to the replacement index and yield- or risk-based differences between the LIBO Rate and the alternate benchmark rate.
Replacement Reference Rate means, in respect of a Reference Rate [If FX Hedged ETC Securities, text will apply or be inserted – and subject always to the consent of the Series Counterparty as provided in Condition 9(b)]: