Examples of Step Up Event in a sentence
If the Anglian Water Group fails to meet certain Sustainability Performance Targets as specified in the applicable Final Terms in relation to these Key Performance Indicators, a Step Up Event will occur, as a result of which a Step Up Margin will be applied.
Step Up Notes may be issued which are linked to certain Key Performance Indicators and in relation to which a Step Up Event may trigger the payment of a Step Up Margin, meaning that payment of amounts in respect of the Notes may vary depending on the Anglian Water Group’s actual performance in respect of the Key Performance Indicators.
The occurrence of a Step Up Event will be notified by the Issuer to the Agent and, in accordance with Condition 13 (Notices), the Noteholders on the Step Up Event Notification Date.
The Rate of Interest for Step Up Notes will be the Initial Rate of Interest specified in the applicable Final Terms, provided that for any Interest Period commencing on or after the Interest Payment Date immediately following a Step Up Event, if any, the Rate of Interest shall be increased by the Step Up Margin specified in the applicable Final Terms.
A Step Up Event may only occur once during the term of a Series of Sustainability- Linked Step Up Notes, unless the applicable Final Terms indicates that the Step Down Option is also applicable and the Step Up Event occurs again after the occurrence of a Step Down Event.