Successor Reference Rate definition

Successor Reference Rate means the rate that the relevant Independent Adviser determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body.

Successor Reference Rate means the rate which has been formally published, endorsed, approved, recommended or recognised as a successor or replacement to the relevant Reference Rate by any Relevant Nominating Body;

Successor Reference Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

Examples of Successor Reference Rate in a sentence

• Furthermore, if the Issuer is unable to appoint an Independent Adviser or if an Independent Adviser appointed by it fails to determine a Successor Reference Rate or an Alternative Reference Rate or Adjustment Spread in accordance with the Terms and Conditions of the Notes, the Issuer may have to exercise its discretion to determine (or to elect not to determine) a Successor Reference Rate or an Alternative Reference Rate or Adjustment Spread, if applicable.

• No consent of the Noteholders shall be required in connection with effecting the relevant Successor Reference Rate or Alternative Reference Rate (as applicable) and, in either case, the relevant Adjustment Spread as described in this Condition 6(d) or such other relevant changes pursuant to Condition 6(d)(C)(c), including for the execution of any documents or the taking of other steps by the Issuer or any of the parties to the Agency Agreement.

• For the avoidance of doubt, if a Successor Reference Rate or an Alternative Reference Rate is not determined pursuant to the operation of this Condition 4.2(h) prior to the relevant Issuer Determination Cut-off Date, then the Rate of Interest for the next Interest Period shall be determined by reference to the fallback provisions of Condition 4.2(b).

• The Issuer shall promptly following the determination by the Independent Adviser of any Successor Reference Rate, Alternative Reference Rate, Adjustment Spread and any Reference Rate Amendments give notice thereof to the Agent, the Issuing Agent and the Bondholders in accordance with Condition 20.3 (Notification of Amendments) and the CSD.

• No consent of the Noteholders shall be required in connection with the determination by the Issuer or, as the case may be, the Independent Adviser of the relevant Successor Reference Rate or Alternative Reference Rate (as applicable) or in connection with any Benchmark Amendment as described in this Condition 4.2(h), including any changes to these Conditions, the Trust Deed and the Agency Agreement.

More Definitions of Successor Reference Rate

Successor Reference Rate means the rate that the Issuer (following consultation with an Independent Adviser (if applicable)) determines is a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body;

Successor Reference Rate means the rate: (i) that the Issuer determines is a successor to or replacement of the Reference Rate and (ii) that is formally recommended by any Relevant Nominating Body.

Successor Reference Rate means the rate that the relevant Independent Adviser (acting in good faith and in a commercially reasonable manner) determines is a successor to or replacement of the Reference Rate which is formally recommended or formally provided as an option for parties to adopt by any Relevant Nominating Body.

Successor Reference Rate means a successor to or the replacement of the Original Reference Rate or, where a Successor Reference Rate or an Alternative Reference Rate has been determined in accordance with Condition 5(l)(A), such Successor Reference Rate or an Alternative Reference Rate, as applicable, which is formally recommended or formally provided as an option for parties to adopt, by any Relevant Nominating Body.

Successor Reference Rate means the rate that the relevant Independent Adviser or the Issuer (as applicable) determines is a successor to or replacement for the Original Reference Rate which is formally recommended by any Relevant Nominating Body; and Swap Providers means each Currency Swap Provider and each Interest Rate Swap Provider.

Successor Reference Rate means the rate that the Bank, following consultation with the relevant Independent Adviser (if applicable), (acting in good faith and in a commercially reasonable manner) determines is a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body;

Successor Reference Rate means the rate that the relevant Independent Adviser determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body. (vi) Minimum Rate of Interest and/or Maximum Rate of Interest If the applicable Final Terms specify a Minimum Rate of Interest for any Interest Period, then, in the event that the Rate of Interest in respect of such Interest Period determined in accordance with the above provisions is less than such Minimum Rate of Interest, the Rate of Interest for such Interest Period shall be such Minimum Rate of Interest. For the avoidance of doubt, the Minimum Rate of Interest shall not be less than zero. If the applicable Final Terms specify a Maximum Rate of Interest for any Interest Period, then, in the event that the Rate of Interest in respect of such Interest Period determined in accordance with the above provisions is greater than such Maximum Rate of Interest, the Rate of Interest for such Interest Period shall be such Maximum Rate of Interest. (vii) Determination of Rate of Interest and calculation of Interest Amounts The Agent will, at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the "Interest Amount") payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to: