SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the Swiss Average Rate Overnight and the SNB Policy Rate during the two year period ending on the date on which the SARON Index Cessation Event occurred (or, if more than one SARON Index Cessation Event has occurred, the date on which the first of such events occurred).
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread (which may be positive, negative or zero) to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of SARON with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Issuer, following consultation with the Independent Adviser, taking into account the historical median between SARON and the SNB Policy Rate during the two year period ending on the date on which the SARON Index Cessation Event occurred (or, if more than one SARON Index Cessation Event has occurred, the date on which the first of such events occurred).
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Holders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the Swiss Average Rate Overnight and the SNB Policy Rate during the two year period ending
More Definitions of SNB Adjustment Spread
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the Swiss Average Rate Overnight and the SNB Policy Rate during the two year period ending on the date on which the SARON Index Cessation Event occurred (or, if more than one SARON Index Cessation Event hasoccurred, the date on which the first of such events occurred).In the applicable Final Terms, when the paragraph ‘Relevant Screen Page’ specifies that the rate is determined by linear interpolation, in respect of an Interest Period, the Rate of Interest for such Interest Period shall be calculated by the Calculation Agent by straight line linear interpolation by reference to two rates based on the Relevant Rate, one of which shall be determined as if the maturity were the period of time (for which rates are available) next shorter than the length of the relevant Interest Period, and the other of which shall be determined as if the maturity were the period of time (for which rates are available) next longer than the length of the relevant Interest Period.(D) Benchmark discontinuationWhere Screen Rate Determination is specified in the relevant Final Terms as the manner in which the Rate of Interest is to be determined and if a Benchmark Event occurs in relation to an Original Reference Rate at any time when the Terms and Conditions of any Notes provide for any rate of interest (or any component part thereof) to be determined by reference to such Original Reference Rate, then the following provisions shall apply and prevail over other fallbacks specified in Condition 5(c)(iii)(C). For the avoidance of doubt, the following provisions shall not apply and shall not prevail over other fallbacks specified in Conditions 5(c)(iii)(A) and 5(c)(iii)(B) and shall not apply to Floating Rate Notes which reference SONIA, SOFR, €STR or SARON.
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to holders of Obligations Foncières as a result of the replacement of the SARON with the SNB Policy Rate for purposes of
SNB Adjustment Spread means, in respect of the SNB Key Rate, the spread to be applied to the SNB Key Rate, such spread being determined by the Calculation Agent, acting in good faith and in a commercially reasonable manner, taking into account the historical median between the SARON and the SNB Key Rate over the two-year period ending on the date on which the Benchmark Event occurred (or, if more than one Benchmark Event occurred, the date on which the first such event occurred);
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, toden gegebenen Umständen vernünftigerweise durch- führbar ist, wirtschaftliche Nachteile oder Vorteile (soweit anwendbar) für Gläubiger infolge der Ersetzung des SARON durch den SNB-Leitzins zu Zwecken der Bestimmung des SARON zu verringern oder zu beseitigen, wobei diese Zinsspanne durch die Emittentin nach Treu und Glauben und in wirtschaft- lich angemessener Weise bestimmt wird, unter Berücksichtigung des historischen Mittelwerts zwischen dem SARON und dem SNB-Leitzins während des Zweijahreszeitraums, der an dem Tag endet, an dem das SARON Index Einstellungsereignis eingetreten ist (oder, falls mehr als ein SARON Index Einstellungsereignis eingetreten ist, an dem Tag, an dem das erste dieser Ereignisse eingetreten ist).Falls die Berechnungsstelle (i) verpflichtet ist, zu Zwecken der Bestimmung des SARON für einen SARON-Geschäftstag einen Empfohlenen Ersatz- Zinssatz oder den SNB-Leitzins zu verwenden, und(ii) die Emittentin feststellt, dass jegliche Änderungen von maßgeblichen Definitionen (einschließlich, aber nicht beschränkt auf Beobachtungszeitraum, Maßgeb- liche Uhrzeit, SARON, SARON-Administrator, SARON-Administrator-Webseite oder SARON- Geschäftstag) notwendig sind, um einen solchen Empfohlenen Ersatz-Zinssatz (und eine Empfohlene Anpassungs-Zinsspanne) bzw. den SNB-Leitzins (und eine SNB-Anpassungs-Zinsspanne) für solche Zwecke zu verwenden, werden diese Definitionen ohne Zustimmung der Gläubiger angepasst und die Emittentin teilt dies den Gläubigern unverzüglich gemäß § 14 unter Angabe des Empfohlenen Ersatz- Zinssatzes und einer Empfohlenen Anpassungs- Zinsspanne bzw. SNB-Anpassungs-Zinsspanne, wie anwendbar, sowie aller vorstehender beschriebenen Anpassungen mit.
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Holders as a result of the replacement of SARON with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Issuer or the SARON Benchmark Transition Designee, acting in good faith and a commercially reasonable manner, taking into account the historical median between the SARON and the SNB Policy Rate during the two year period ending on the date on which the SARON Benchmark Transition Event occurred (or, if more than one SARON Benchmark Transition Event occurred, the date on which the first of such events occurred).
SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the SARON and the SNB Policy Rate during the two