Examples of Subsequent Reset Reference Rate in a sentence
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On the Reset Date (or on each Reset Date, if more than one Reset Date is specified), the Rate of Interest will be reset to the aggregate of the applicable Subsequent Reset Reference Rate, the applicable Initial Credit Spread and the applicable Step-Up Margin (each as defined in the Terms and Conditions of the Senior Notes, the Terms and Conditions of the Tier 3 Notes and in the Terms and Conditions of the Tier 2 Notes), as determined by the Calculation Agent.
This Condition 5(c)(ii) applies only where Mid-Swap Rate is specified in the applicable Final Terms as the Subsequent Reset Reference Rate.
On the first Reset Date, however, and on each subsequent Reset Date (if any) thereafter, the interest rate will be reset to the sum of the applicable Subsequent Reset Reference Rate and the applicable Reset Margin as determined by the Issue and Paying Agent on the relevant Reset Determination Date (each such interest rate, a “Subsequent Reset Rate”).
On the first Reset Date, however, and on each subsequent Reset Date (if any) thereafter, the interest rate will be reset to the sum of the applicable Subsequent Reset Reference Rate and the applicable Reset Margin as determined by the Issue and Paying Agent on the relevant Reset Determination Date (each such interest rate, a Subsequent Reset Rate).
If the CMT Screen Page is not available or if the CMT Rate cannot be determined in accordance with limbs (i) or (ii) of the definition of “CMT Rate” in Condition 5(i), the Subsequent Reset Reference Rate shall be determined in accordance with limb (iii) of the definition of “CMT Rate” in Condition 5(i).
Date of plan preparation and date and description of all revisions.
This Condition 5(c)(ii) applies only where Single Mid-Swaps or Mean Mid-Swaps is specified in the applicable Final Terms as the Subsequent Reset Reference Rate.
Day Count Fraction and related definitions have the meanings given in Condition 5.1. (b) Subsequent Reset Rate Screen Page If the Subsequent Reset Rate Screen Page is not available, the Principal Paying Agent shall request each of the Reference Banks (as defined below) to provide the Principal Paying Agent with its offered quotation (expressed as a percentage rate per annum) for the Subsequent Reset Reference Rate at approximately the Subsequent Reset Rate Time on the Reset Determination Date in question.
If on any Reset Determination Date, the Subsequent Reset Rate Screen Page is not available or the Subsequent Reset Reference Rate does not appear on the Subsequent Reset Rate Screen Page as of the relevant Subsequent Reset Rate Time on such Reset Determination Date, the Calculation Agent shall request each of the Reference Banks to provide the Calculation Agent with its Mid-Swap Rate Quotation at approximately the Subsequent Reset Rate Time on the Reset Determination Date in question.