€STR Reference Rate means, in respect of any TARGET Business Day, a reference rate equal to the daily Euro Short-Term Rate ("€STR") for such TARGET Business Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank initially at http://www.ecb.europa.eu, or any successor website officially designated by the European Central Bank (the "ECB's Website") (in each case, at the time specified by, or determined in accordance with, the applicable methodology, policies or guidelines on the TARGET Business Day immediately following such TARGET Business Day).
€STR Reference Rate means, in respect of any TARGET Settlement Day, a reference rate equal to the daily euro short-term rate ("€STR") for such TARGET Settlement Day as published by the ECB, as administrator of such rate (or any successor administrator of such rate), on the website of the ECB initially at http://www.ecb.europa.eu, or any successor website officially designated by the ECB (the "ECB's Website") (in each case, on or before 9:00 a.m., Central European Time, on the TARGET Settlement Day immediately following such TARGET Settlement Day); and
€STR Reference Rate means, in respect of any TARGET Settlement Day, a reference rate equal to €STR for such TARGET Settlement Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank initially at http://www.ecb.europa.eu, or any successor website officially designated by the European Central Bank (the "ECB's Website") (in each case, on or before 9:00 a.m., Central European Time, on the TARGET Settlement Day immediately following such TARGET Settlement Day); and
Examples of €STR Reference Rate in a sentence
If the €STR Reference Rate is not published in respect of a TARGET Settlement Day as specified above, and unless both an €STR Index Cessation Event and an €STR Index Cessation Effective Date (each, as defined below) have occurred, the €STR Reference Rate shall be a rate equal to €STR for the last TARGET Settlement Day for which such rate was published on the ECB's Website.
Investors should not rely on any trends in the pre-€STR as an indicator of future changes in the €STR Reference Rate.
The ECB began to publish the €STR Reference Rate on 2 October 2019, intended to reflect trading activity on 1 October 2019.
Any of these€STR Fallbacks may result in interest payments that are lower than, or do not otherwise correlate over time with, the payment that would have been made on the Notes if the €STR Reference Rate had been provided by the European Central Bank in its form as at the Issue Date of the Notes.
The European Central Bank reports that the €STR is published on each TARGET Business Day based on transactions conducted and settled on the previous TARGET Business Day (the reporting date “T”) with a maturity date of T+1 which are deemed to have been executed at arm’s length and thus reflect market rates in an unbiased way.The European Central Bank began to publish the €STR Reference Rate on 2 October 2019, intending to reflect trading activity on 1 October 2019.
More Definitions of €STR Reference Rate
€STR Reference Rate means, in respect of any TARGET Day, a reference rate equal to the daily euro short-term rate for such TARGET Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank initially at xxxx://xxx.xxx.xxxxxx.xx, or any successor website officially designated by the European Central Bank (the "ECB's Website") (in each case, on or before 9:00a.m., Central European Time, on the TARGET Day immediately following such TARGET Day);
€STR Reference Rate means in respect of any TARGET2 Business Day, a reference rate equal to the daily euro short-term rate (“€STR”) for such TARGET2 Business Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank, currently at http://www.ecb.europa.eu, or any successor website officially designated by the European Central Bank (the “ECB’s Website”) (in each case, on or before 9:00 a.m. Central European Time on the TARGET2 Business Day immediately following such TARGET2 Business Day (or any amended publication time for €STR as specified by the administrator of €STR in the €STR benchmark methodology));
€STR Reference Rate means, in respect of any T2 Business Day "x", a reference rate equal to the daily euro short-term rate ("€STR") provided by the €STR Administrator and published, displayed or made available on the Designated Source on the T2 Business Day immediately following such T2 Business Day "x" (in each case at the time specified by, or determined in accordance with, the applicable methodology, policies or guidelines, of the €STR Administrator);
€STR Reference Rate means, in respect of any TARGET Day, a reference rate equal to the daily €STR rate for such TARGET Day a as provided by the European Central Bank as the administrator of €STR (or any successor administrator of such rate) on the website of the European Central Bank (or, if no longer published on its website, as otherwise published by it or provided by it to authorised distributors and as then published on the Relevant Screen Page or, if the Relevant Screen Page is unavailable, as otherwise published by such authorised distributors) on the TARGET Day immediately following such TARGET Day (in each case, at the time specified by, or determined in accordance with, the applicable methodology, policies or guidelines, of the European Central Bank or the successor administrator of such rate);
€STR Reference Rate means, in respect of any TARGET Business Day, a reference rate equal to the daily euro short- term rate (“ €STR”) for such TARGET Business Day as provided by the administrator European Central Bank on the website of the European Central Bank initially at http://www.ecb.europa.eu, or any successor website officially desig- nated by the European Central Bank (on the TARGET Business Day immediately following such TARGET Business Day).
€STR Reference Rate means, in respect of any TARGET Settlement Day, a reference rate equal to the daily euro short-term rate ("€STR") for such TARGET Settlement Day as published by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank initially at
€STR Reference Rate means in respect of any TARGET2 Business Day, a reference rate equal to the daily euro short-term rate (“€STR”) for such TARGET2 Business Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank, currently at xxxx://xxx.xxx.xxxxxx.xx, or any successor website officially designated by the European Central Bank (the “ECB’s Website”) (in each case, on or before 9:00 a.m. Frankfurt Time on the TARGET2 Business Day immediately following such TARGET2 Business Day (or any amended publication time for €STR as specified by the administrator of €STR in the €STR benchmark methodology));