Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.
Zurich Banking Day or “ZBD” means a day on which banks are open in Zurich for the settlement of payments and of foreign exchange transactions; and
Zurich Banking Day means any day on which commercial banks are open for general business (including dealing in foreign exchange and foreign currency deposits) in Zurich.
Examples of Zurich Banking Day in a sentence
Further, if the Notes become due and payable on a date other than an Interest Payment Date (whether as a result of an event of default or redemption or otherwise), the Rate of Interest applicable to the final Interest Period will only be determined based on SARON for each Zurich Banking Day during the related Observation Period to the date on which the Notes become due and payable, rather than for the entire Observation Period.
Further, if any SARON-referenced Covered Bonds become due and payable on a date other than an Interest Payment Date (whether as a result of an Event of Default or redemption or otherwise), the Rate of Interest applicable to the final Interest Period will only be determined based on SARON for each Zurich Banking Day during the related Observation Period to the date on which such Covered Bonds become due and payable, rather than for the entire Observation Period.
If there is an NWG Recommended Rate before the end of the first Zurich Banking Day following the SARON Index Cessation Effective Date but neither the administrator nor authorized distributors provide or publish the NWG Recommended Rate, then, subject to the below, in respect of any day for which the NWG Recommended Rate is required, references to the NWG Recommended Rate will be deemed to be references to the last provided or published NWG Recommended Rate.
More Definitions of Zurich Banking Day
Zurich Banking Day means any day (other than a Saturday and Sunday) on which commercial banks are open for general business (including dealing in foreign exchange and foreign currency deposits) in Zurich.
Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.If the SARON is not published on the Relevant Screen Page (the "SARON Screen Page") at the SARON Relevant Time on the relevant Zurich Banking Day and neither a SARON Index Cessation Event nor a SARON Index Cessation Effective Date have occurred on or prior to the SARON Relevant Time on the relevant Zurich Banking Day, the SARON for such Zurich Banking Day shall be the rate equal to the SARON published by the SARON Administrator on the SARON Administrator Website for the last preceding Zurich Banking Day on which the SARON was published by the SARON Administrator on the SARON Administrator Website.If the SARON is not published on the SARON Screen Page at the SARON Relevant Time on the relevant Zurich Banking Day and both a SARON Index Cessation Event and a SARON Index Cessation Effective Date have occurred on or prior to the SARON Relevant Time on the relevant Zurich Banking Day:
Zurich Banking Day is to a day (other than Saturdays and Sundays) on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Zurich; the “specified office” of any Paying Agent or any Registrar is to the office specified against its name in the Eighth Schedule or such other office in the same city or town as such Paying Agent or, as the case may be, such Registrar may specify by notice to the Issuer and the other parties hereto in accordance with Clause 14.7; a “Schedule” is, unless the context indicates otherwise, to a Schedule hereto; a “Section” is, unless the context indicates otherwise, to a Section hereof; the “Securities Act” is to the United States Securities Act of 1933;
Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions. If the relevant Series of Covered Bonds become due and payable in accordance with Condition 7, the final Interest Determination Date shall, notwithstanding any Interest Determination Date specified in the applicable Pricing Supplement, be deemed to be the date on which such Covered Bonds become due and payable, and the Rate of Interest on such Covered Bonds shall, for so long as such Covered Bonds remain outstanding, be that determined on such date and as if (solely for the purpose of such interest determination) the relevant Interest Period had been shortened accordingly.ANNEX 2 SARON INDEX CESSATION EVENT PROVISIONS The following provision shall be added after Condition 13.2(c): Effect of a SARON Index Cessation Event on SARON-referenced Floating Rate Covered Bonds (c.1) If the Issuer or its designee determines on or prior to the Relevant Time that a SARON Index Cessation Event and its related SARON Index Cessation Effective Date (each as defined below) have occurred with respect to SARON-referenced Covered Bonds, then the Bond Trustee shall be obliged, without the consent or sanction of the Covered Bondholders (including without the requirement to provide to Covered Bondholders an opportunity to object) and subject to the consent only of the Secured Creditors (x) party to the relevant Transaction Document being amended or (y) whose ranking in any Priorities of Payments is affected, subject to satisfaction of Condition 13.2(c.1)(iv) (the “Benchmark Transition Event Conditions”), to concur with the Issuer or its designee in making any modification (other than in respect of a Series Reserved Matter, provided that neither replacing SARON with the SARON Replacement nor any SARON Replacement Conforming Changes (each as defined below) shall constitute a Series Reserved Matter) of these Conditions or any of the Transaction Documents solely with respect to any SARON-referenced Floating Rate Covered Bonds that the Issuer or its designee decides may be appropriate to give effect to the provisions set forth under this Clause (c.1) in relation only to all determinations of the rate of interest payable on any SARON-referenced Floating Rate Covered Bonds (and any related swap agreements), provided that:
Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.Subject to Condition 3(f) or, if applicable, Condition 3(g), if, with respect to any Interest Period, the relevant rate is not published for the relevant Compounded Index either on the relevant Start or End date, then the Calculation Agent shall calculate the rate of interest for that Interest Period as if "Index Determination" was not specified as the Calculation Method in the applicable Final Terms and as if "Compounded Daily" was specified instead as the Calculation Method in the applicable Final Terms and where "Observation Shift" was specified as the Observation Method.
Zurich Banking Day is as is specified in Condition 13.02(c)(iv). If the relevant Series of Covered Bonds become due and payable in accordance with Condition 7, the final Interest Determination Date shall, notwithstanding any Interest Determination Date specified in the applicable Final Terms, be deemed to be the date on which such Covered Bonds become due and payable, and the Rate of Interest on such Covered Bonds shall, for so long as such Covered Bonds remain outstanding, be that determined on such date and as if (solely for the purpose of such interest determination) the relevant Interest Period had been shortened accordingly.