Examples of Reset Margin in a sentence
If two or more of the Reference Banks provide the Principal Paying Agent with such offered quotations, the Subsequent Reset Rate for the relevant Reset Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the applicable Reset Margin (if any), all as determined by the Principal Paying Agent.
If the applicable Final Terms specify that a Mid Swap Rate is applicable to interest payable on Interest Payment Dates falling in a specified period (the “Reset Period”), the Notes will bear interest during such Reset Period at a rate determined on the Reset Determination Date as being the aggregate of the Reset Margin and the Specified Mid Swap Rate.
If two or more of the Reference Banks provide the Agent with offered quotations, the Subsequent Reset Rate for the relevant Reset Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the applicable Reset Margin (if any), all as determined by the Agent.
If on any Reset Determination Date only one of the Reference Banks provides the Agent with an offered quotation as provided in the foregoing provisions of this paragraph, the Subsequent Reset Rate shall be such offered quotation plus or minus (as appropriate) the applicable Reset Margin (if any), as determined by the Agent.
On the first Reset Date, however, and on each subsequent Reset Date (if any) thereafter, the interest rate will be reset to the sum of the applicable Subsequent Reset Reference Rate and the applicable Reset Margin as determined by the Issue and Paying Agent on the relevant Reset Determination Date (each such interest rate, a “Subsequent Reset Rate”).