Alternative Rate definition

Alternative Rate means an alternative benchmark or screen rate which the Independent Adviser determines in accordance with Condition 5(j)(ii) is customarily applied in international debt capital markets transactions for the purposes of determining rates of interest (or the relevant component part thereof) in the same Specified Currency as the Notes.

Alternative Rate has the meaning assigned to such term in Section 2.14(a).

Alternative Rate means an alternative benchmark or screen rate which the Issuer determines in accordance with this Condition 4(c) is used in place of the Original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for a commensurate interest period and in the same Specified Currency as the Notes;

Examples of Alternative Rate in a sentence

• The Issuer shall use reasonable endeavours to appoint and consult with an Independent Adviser, as soon as reasonably practicable, with a view to the Issuer determining a Successor Rate, failing that an Alternative Rate (in accordance with Condition 3(d)(ii)(B)) and, in either case, an Adjustment Spread, if any (in accordance with Condition 3(d)(iii) and any Benchmark Amendments (in accordance with Condition 3(d)(iv)).

• Without prejudice to the Issuer’s obligations under the provisions of this Condition 3(d), the Original Reference Rate and the fallback provisions provided for in Conditions 3(b) will continue to apply unless and until the party responsible for determining the Rate of Interest (as specified in the applicable Final Terms) has been notified of the Successor Rate or the Alternative Rate (as the case may be), and of any Adjustment Spread and/or Benchmark Amendments.

• The Issuer shall notify the Principal Paying Agent, the party responsible for determining the Rate of Interest (as specified in the applicable Final Terms) the Paying Agents and, in accordance with Condition 12, the Noteholders, promptly of any Successor Rate, Alternative Rate, Adjustment Spread and the specific terms of any Benchmark Amendments, determined under this Condition 3(d).

More Definitions of Alternative Rate

Alternative Rate means an alternative benchmark or screen rate which the Issuer determines in accordance with Condition 5.3(h)(ii) has replaced the Reference Rate in customary market usage in the international debt capital markets or in industry standard for over-the-counter derivative transactions for the purposes of determining rates of interest (or the relevant component part thereof) for the same interest period and in the same Specified Currency as the Notes.

Alternative Rate means an alternative benchmark or screen rate which the Issuer, following consultation with the Independent Adviser, and acting in a commercially reasonable manner and in good faith, determines in accordance with Condition 7(d)(iv) has replaced the Original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for the same interest period and in the same Specified Currency as the Notes.

Alternative Rate means an alternative benchmark or screen rate which the Independent Adviser determines in accordance with § 3 (5)(b) is customary in market usage in the international debt capital markets (or, alternatively, the international swap markets) for the purposes of determining floating rates of interest (or the relevant component part thereof) in the Specified Currency.

Alternative Rate means an alternative benchmark or screen rate which the Independent Adviser determines in accordance with this Condition 5(c)(iii)(D) and which is customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for a commensurate interest period and in the same Specified Currency as the Obligations Foncières;

Alternative Rate means an alternative to the Reference Rate which the Issuer determines in accordance with Condition 3(g)(ii) has replaced the Original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for the same interest period and in the same Specified Currency as the Notes.

Alternative Rate means an alternative to the Original Reference Rate which the Independent Adviser (acting in good faith) determines in accordance with Condition 5.2(f)(ii) has replaced the Original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for the same interest period and in the same Specified Currency as the Notes or, if the Independent Adviser determines there is no such rate, such other rate as the Independent Adviser (acting in good faith) determines is most comparable to the Original Reference Rate;

Alternative Rate shall have the meaning specified in Article 3(g) of this Agreement.