USD Benchmark means, initially, with respect to compounded SOFR notes and simple average SOFR notes, SOFR; provided, in each case, that if a USD Benchmark Transition Event and related USD Benchmark Replacement Date have occurred with respect to SOFR or the then- current USD Benchmark, then “USD Benchmark” means the applicable USD Benchmark Replacement.
USD Benchmark means the applicable USD Benchmark Replacement to the extent that such USD Benchmark Replacement has replaced such prior benchmark rate. Any reference to “USD Benchmark” shall include, as applicable, the published component used in the calculation thereof.
USD Benchmark means, initially, Compounded SOFR, as such term is defined in Condition 5.03; provided that if the Issuer or the Benchmark Transition Designee determines on or prior to the Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published daily SOFR used in the calculation thereof) or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.
Examples of USD Benchmark in a sentence
In connection with the implementation of a Benchmark Replacement with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD Benchmark, the Issuer or the Benchmark Transition Designee will have the right, subject to satisfaction of the Benchmark Transition Event Conditions, to make Benchmark Replacement Conforming Changes with respect to any U.S. dollar denominated Floating Rate Covered Bonds from time to time.
In connection with the implementation of a USD Benchmark Replacement with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD Benchmark, the Issuer or the USD Benchmark Transition Designee (after consulting with the Issuer) will have the right, subject to satisfaction of the USD Benchmark Transition Event Conditions, to make USD Benchmark Replacement Conforming Changes with respect to any U.S. dollar denominated Floating Rate Covered Bonds from time to time.
More Definitions of USD Benchmark
USD Benchmark has the meaning assigned to such term in the definition of “Benchmark”.
USD Benchmark means, initially, LIBOR; provided that if a replacement of the USD Benchmark has occurred pursuant to Section 3.08 then “USD Benchmark” means the applicable USD Benchmark Replacement to the extent that such USD Benchmark Replacement has replaced such prior benchmark rate. Any reference to “USD Benchmark” shall include, as applicable, the published component used in the calculation thereof.
USD Benchmark means, initially, USD LIBOR of the appropriate tenor; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current USD Benchmark, then "USD Benchmark" means the applicable Benchmark Replacement."
USD Benchmark means, initially, the USD Term SOFR Reference Rate; provided that if a USD Benchmark Transition Event has occurred pursuant to Section 2.14, then “USD Benchmark” means the applicable USD Benchmark Replacement to the extent that such USD Benchmark Replacement has replaced such prior benchmark rate. Any reference to “USD Benchmark” shall include, as applicable, the published component used in the calculation thereof.
USD Benchmark means, initially, USD LIBOR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current USD Benchmark, then “USD Benchmark” means the applicable Benchmark Replacement. Interest Period The period from and including the Interest Commencement Datefor the Secured Notes to but excluding the first Interest Payment Date for the Secured Notes, and each successive period from and including the first day following the end of the preceding Interest Period to but excluding the following Interest Payment Date until the principal of the Secured Notes is paid or made available for payment. The Interest Period may be adjusted or unadjusted. Day Count Fraction (i) If “Actual/360” is specified in the applicable Final Terms,the actual number of days in the Interest Period divided by 360. (ii) If “Actual/365” is specified in the applicable Final Terms, the actual number of days in the Interest Period divided by 365. (iii) If “30/360” is specified in the applicable Final Terms, the number of days in the Interest Period in respect of which payment is being made divided by 360, calculated on a formula basis as follows: Day Count Fraction = [360 × (Y2 – Y1)] + [30 × (M2 – M1)] + [D2 – D1] 360where:
USD Benchmark means, initially, USD LIBOR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current USD Benchmark, then “USD Benchmark” means the applicable Benchmark Replacement.Set out below is the amendment to the Base Prospectus, in the section entitled “General Information”.
USD Benchmark means, initially, Compounded SOFR, as such term is defined in Condition 4.2; provided that if the Issuer or the USD Benchmark Transition Designee determines on or prior to the USD Reference Time that a USD Benchmark Transition Event and its related USD Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published daily SOFR used in the calculation thereof) or the then-current USD Benchmark, then “USD Benchmark” means the applicable USD Benchmark Replacement.