SOFR Index Cessation Event definition

SOFR Index Cessation Event means the occurrence of one or more of the following events:
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SOFR Index Cessation Event means the occurrence of one or more of the following events as it relates to Daily SOFR:
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SOFR Index Cessation Event means the occurrence of one or more of the following events: (a) a public statement by the Federal Reserve Bank of New York (or a successor administrator of SOFR) announcing that it has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (b) the publication of information which reasonably confirms that the Federal Reserve Bank of New York (or a successor administrator of SOFR) has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (c) a public statement by a U.S. regulator or U.S. other official sector entity prohibiting the use of SOFR that applies to, but need not be limited to, all swap transactions, including existing swap transactions.
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Examples of SOFR Index Cessation Event in a sentence

  • If J < (k − 1)ℓ, it then considers each of the matroids Mi = (Xi, Ii) for which Xi ∈ X(e).

  • For the avoidance of doubt, in no event shall the Calculation Agent be responsible for determining whether any SOFR Index Cessation Effective Date, SOFR Index Cessation Event, OBFR Index Cessation Event, OBFR Index Cessation Effective Date or any adjustments or conforming changes thereto has occurred, or for the Issuer’s decisions and determinations described in this Condition 5.

  • Investors should be aware that if the Reference Rate has been discontinued, or, inter alia, another Benchmark Event, an €STR Index Cessation Event or a SOFR Index Cessation Event has occurred, the Rate of Interest on the Covered Bonds may be determined for the relevant period by reference to a substitute, alternative or successor rate, in accordance with the applicable fallback provision set out in Condition 5(b)(ii) (Rate of Interest) or Condition 5(c) (Replacement Reference Rate).

  • In respect of a SOFR Index Cessation Event, the date on which the FRBNY (or any successor administrator of the Secured Overnight Financing Rate) ceases to publish the Secured Overnight Financing Rate or the date on which the Secured Overnight Financing Rate may no longer be used.

  • Investors should be aware that if the Reference Rate has been discontinued, or, inter alia, another Benchmark Event, an €STR Index Cessation Event or a SOFR Index Cessation Event has occurred, the Rate of Interest on the Notes may be determined for the relevant period by reference to a substitute, alternative or successor rate, in accordance with the applicable fallback provision set out in Condition (c)7(b)(ii) (Rate of Interest) or Condition 7(d) (Replacement Reference Rate).

  • Managing since January 2022M.Com & MFMExperience of more than 29 years in equities.

  • Under the Rate Option of USD-SOFR-COMPOUND pre-Supplement 77 to the 2006 Definitions, if, by 5:00 p.m. New York City time on the U.S. Government Securities Business Day immediately following any day “i”, SOFR in respect of such day “i” has not been published and a SOFR Index Cessation Event has not occurred, then SOFRi for that day “i” will be SOFR as published in respect of the first preceding U.S. Government Securities Business Day for which SOFR was published on the New York Fed’s Website.

  • This is because Wednesday, March 31, 2021 will be the first preceding U.S. Government Securities Business Day for which SOFR is published on the New York Fed’s Website at 5:00 p.m. New York City time on Friday April 2, 2021 (assuming the Federal Reserve Bank of New York publishes SOFR on its website for that day and no SOFR Index Cessation Event has occurred).

  • The two first studies use French data and include the effect of education and children in their model.

  • If a Tenn SOFR Index Cessation Event has occurred, the rate in respect of an Interest Determination Date occurring on or after the Term SOFR Index Cessation Effective Date will be, subject to subsections (iii) and (iv) below, the Term SOFR Recommended Fallback Rate for the duration of the relevant Interest Period.


More Definitions of SOFR Index Cessation Event

SOFR Index Cessation Event means the occurrence of one or more of the following events: (a) a public statement by the Federal Reserve Bank of New York (or a successor administrator of SOFR) announcing that it has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (b) the publication of information which reasonably confirms that the Federal Reserve Bank of New York (or a successor administrator of SOFR) has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (c) a public statement by a U.S. regulator or U.S. other official sector entity prohibiting the use of SOFR that applies to, but need not be limited to, all swap transactions, including existing swap transactions. The determination of the Extended Rate of Interest in accordance with the foregoing provisions shall be made by the Calculation Agent.] [If the interest rate is calculated with reference to a rate other than SONIA or SOFR: (1d) Benchmark Discontinuation. [In the case of Notes with interest rate reset: § 3 (5) (Benchmark Discontinuation) shall apply mutatis mutandis to the determination to the Extended Reference Rate, provided that:
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SOFR Index Cessation Event means the occurrence of either of the following events: (i) a public statement by the Federal Reserve (or a successor administrator of SOFR) announcing that it has ceased to publish or provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to publish or provide the Secured Overnight Financing Rate or (ii) the publication of information that reasonably confirms that the Federal Reserve (or a successor administrator of SOFR) has ceased to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to publish or provide the Secured Overnight Financing Rate.
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SOFR Index Cessation Event. The occurrence of one or more of the following events:
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SOFR Index Cessation Event means the occurrence of one or more of the fol- lowing events:
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SOFR Index Cessation Event means, in respect of SOFR:
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Related to SOFR Index Cessation Event

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • SOFR Index Cessation Effective Date means, in relation to a SOFR Index Cessation Event, the date on which the Federal Reserve Bank of New York (or any successor administrator of the daily Secured Overnight Financing Rate) ceases to publish the daily Secured Overnight Financing Rate, or the date as of which the daily Secured Overnight Financing Rate may no longer be used;

  • OBFR Index Cessation Effective Date means, in relation to an OBFR Index Cessation Event, the date on which the Federal Reserve Bank of New York (or any successor administrator of the daily Overnight Bank Funding Rate) ceases to publish the daily Overnight Bank Funding Rate or the date as of which the daily Overnight Bank Funding Rate may no longer be used;

  • TLAC Disqualification Event means OSFI has advised the Bank in writing that the bail-inable notes issued under the applicable pricing supplement will no longer be recognized in full as TLAC under the TLAC Guideline as interpreted by the Superintendent, provided that a TLAC Disqualification Event will not occur where the exclusion of those bail-inable notes from the Bank’s TLAC requirements is due to the remaining maturity of those bail-inable notes being less than any period prescribed by any relevant eligibility criteria applicable as of the issue date of those bail-inable notes.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark: