SARON Observation Period definition

SARON Observation Period means the period from, and including, the date falling "p" Zurich Banking Days prior to the first day of the relevant Interest Accrual Period (and the first Interest Accrual Period shall begin on and include the Interest Commencement Date) to, but excluding, the date falling "p" Zurich Banking Days prior to the Interest Payment Date for such Interest Accrual Period (or the date falling "p" Zurich Banking Days prior to such earlier date, if any, on which the Obligations Foncières become due and payable);

SARON Observation Period means, in respect of each Interest Accrual Period, the period from (and including) the date falling a number of Zurich Banking Days equal to the Observation Shift Days preceding the first date in such Interest Accrual Period to (but excluding) the date falling a number of Zurich Banking Days equal to the number of Observation Shift Days, preceding the Interest Payment Date for such Interest Accrual Period.

SARON Observation Period means, in respect of an Interest Accrual Period, the period from (and including) the date falling five Zurich Banking Days prior to the first day of such Interest Accrual Period and ending on (but excluding) the date falling five Zurich Banking Days prior to the day on which such Interest Accrual Period ends (but which by its definition is excluded from such Interest Accrual Period);

Examples of SARON Observation Period in a sentence

• If the conditions set out in the last paragraph of paragraph(F)(2) above have been satisfied, then the Replacement Rate Agent will determine whether to use an alternative rate to SARON for the Affected Business Day and for all subsequent Business Days in the Observation Period in which the Affected Business Day falls (the " Affected SARON Observation Period") and all Observation Periods thereafter.

• If the conditions set out in the last paragraph of paragraph (F)(2) above have been satisfied, then the Replacement Rate Agent will determine whether to use an alternative rate to SARON for the Affected Business Day and for all subsequent Business Days in the Observation Period in which the Affected Business Day falls (the " Affected SARON Observation Period") and all Observation Periods thereafter.

• If the conditions set out in the last paragraph of paragraph (F)(2) above have been satisfied, then the Replacement Rate Agent will determine whether to use an alternative rate to SARON for the Affected Business Day and for all subsequentBusiness Days in the Observation Period in which the Affected Business Day falls (the " Affected SARON Observation Period") and all Observation Periods thereafter.

• If the conditions set out in the last paragraph of paragraph (F)(2) above have been satisfied, then the Replacement Rate Agent will determine whether to use an alternative rate to SARON for the Affected Business Day and for all subsequent Business Days in the Observation Period in which the Affected Business Day falls (the " Affected SARON Observation Period") and allObservation Periods thereafter.

• The Issuer will notify the Noteholders of any such appointment in accordance with Condition 12.(1) If the conditions set out in the last paragraph of paragraph (F)(2) above have been satisfied, then the Replacement Rate Agent will determine whether to use an alternative rate to SARON for the Affected Business Day and for all subsequent Business Days in the Observation Period in which the Affected Business Day falls (the " Affected SARON Observation Period") and all Observation Periods thereafter.

More Definitions of SARON Observation Period

SARON Observation Period means, in respect of an Interest Accrual Period, the period from, and including, the date falling five Zurich Banking Days prior to the first day of such Interest Accrual Period and ending on, but excluding, the date which is five Zurich Banking Days prior to the Interest Period Date for such Interest Accrual Period (or the date falling five Zurich Banking Days prior to such earlier date, if any, on which the Notes are due and payable);

SARON Observation Period means, in respect of an Interest Period, the period from (and including) the date falling five Zurich Banking Days prior to the first day of such Interest Period and ending on (but excluding) the date falling five Zurich Banking Days prior to the day on which such Interest Period ends (but which by its definition is excluded from such Interest Period);

SARON Observation Period means, in respect of an Interest Period, the period from (and including) the date falling p Zurich Banking Days prior to the first day of the relevant Interest Period and ending on (but excluding) the date which is p Zurich Banking Days prior to the Interest Period End Date falling at the end of such Interest Period;

SARON Observation Period means, in respect of an Interest Period, the period from (and including) the day falling "p" Zurich Banking Days prior to the first day of such Interest Period to (but excluding) the day falling "p" Zurich Banking Days prior to the Interest Period End Date for such Interest Period;

SARON Observation Period means, in respect of an Interest Period, the period from, and including, the date falling “p” Zurich Business Days prior to the first day of such Interest Period (and the first Interest Period shall begin on and include the Interest Commencement Date) and ending on, but excluding, the date falling “p” Zurich Business Days prior to the Interest Payment Date for such Interest Period (or, if the Notes become due and payable prior to the Maturity Date (as defined in § 5(1)), the date falling “p” Zurich Business Days prior to [(a) in the case of § 9, the date on which the notice of the Holder declaring the Notes due has been received by the Issuer; or (b) in any other case] the date on which the