Reset Reference Banks definition

Reset Reference Banks means the principal office in the principal financial centre of the Specified Currency of five major banks in the swap, money, securities or other market most closely connected with the relevant Mid-Swap Rate as selected by the Calculation Agent in its discretion after consultation with the Issuer;

Reset Reference Banks means five leading swap dealers in the New York City interbank market selected by the Fiscal Agent in its discretion after consultation with the Issuer;

Reset Reference Banks means five major banks in the swap, money, securities or other market most closely connected with the Reference Rate, as selected by the Issuer after consultation with the Calculation Agent.

Examples of Reset Reference Banks in a sentence

• With effect from the first Reset Interest Determination Date, the Issuer will maintain an Agent Bank and the number of Reset Reference Banks provided above where the Prevailing Interest Rate is to be calculated by reference to them.

• The Agent Bank will, as soon as practicable after 11.00 a.m. (London time) on each Reset Determination Date, subject to receipt from the Issuer of the bid and offered price of the Benchmark Gilt as provided by the Reset Reference Banks (if any), determine the Reset Rate of Interest in respect of the relevant Reset Period.

• With effect from the First Reset Date, the Issuer will maintain a Calculation Agent and Reset Reference Banks where the Interest Rate is to be calculated by reference to them.

• If on any Reset Determination Date only one of the Reset Reference Banks provides the Calculation Agent with a Mid-Market Swap Rate Quotation as provided in the foregoing provisions of this Condition 4(b), the First Reset Rate of Interest or the Subsequent Reset Rate of Interest (as applicable) shall be determined to be the sum of (A) the relevant Mid-Market Swap Rate Quotation provided and (B) the First Margin or Subsequent Margin (as applicable), all as determined by the Calculation Agent.

• All notifications, opinions, determinations, certificates, calculations, quotations and decisions given, expressed, made or obtained for the purposes of the provisions of this Condition 5, whether by the Reset Reference Banks (or any of them) or the Issuer (or its appointed agent), will (in the absence of manifest error or bad faith) be binding on the Issuer and all Securityholders.

More Definitions of Reset Reference Banks

Reset Reference Banks means five brokers of gilts and/or gilt-edged market makers selected by the Issuer;

Reset Reference Banks means the principal office in the principal financial centre of the Specified Currency of five leading dealers in the swap, money, securities or other market most closely connected with the Mid-Market Swap Rate.

Reset Reference Banks means five leading swap dealers in the principal interbank market relating to the Specified Currency selected by the Calculation Agent in its discretion after consultation with the Issuer;

Reset Reference Banks means the principal office in the principal financial centre of the Specified Currency of five major banks:

Reset Reference Banks means six leading swap dealers in the interbank market selected by the Calculation Agent in its discretion after consultation with the Issuer.

Reset Reference Banks means five brokers of gilts and/or gilt-edged market makers selected by us in our discretion.

Reset Reference Banks means five banks which are primary U.S. Treasury securities dealers or market makers in pricing corporate bond issues denominated in USD (excluding the Fiscal Agent or any of its affiliates), as selected by the Issuer in its discretion after consultation with the Fiscal Agent;