Base Rate Modifications Clause Samples

Base Rate Modifications. In accordance with clause 22.2 of the Trust Deed and Condition 12.4(c) (Meetings of Noteholders, Modification and Waiver) of Schedule 2 to the Trust Deed, the Cash Manager may either (i) determine a Base Rate Modification or (ii) appoint an investment bank or advisory firm appointed as expert to advise on a Base Rate Modification (including in relation to a Base Rate Modification Certificate). The Issuer shall bear the costs properly incurred by the Cash Manager in respect of such appointment. The Cash Manager shall not incur any liability to the Issuer, the Noteholders, the Security Trustee or any other person in acting or relying on such advice and/or providing any Base Rate Modification Certificate to the Security Trustee.