Benchmark Discontinuation. Notwithstanding the provisions in Condition 4(b) above, if the Issuer determines that a Benchmark Event has occurred in relation to an Original Reference Rate when any Rate of Interest (or any component part thereof) remains to be determined by reference to that Original Reference Rate, then the following provisions of this Condition 4(c) shall apply.
Benchmark Discontinuation. On the occurrence of a Benchmark Event, the relevant Issuer may (subject to certain conditions and following consultation with an Independent Adviser) determine a Successor Rate, failing which an Alternative Rate and, in either case, an Adjustment Spread, if any, and any Benchmark Amendments in accordance with Condition 4(b)(iii).
Benchmark Discontinuation. If a Benchmark Event occurs in relation to an Original Reference Rate at any time when the Conditions provide for any remaining Rate of Interest (or any component part thereof) to be determined by reference to such Original Reference Rate, then the following provisions apply:
Benchmark Discontinuation. 10.11 If any Benchmark Event occurs in relation to an Original Reference Rate when any Rate of Interest (or any component part thereof) remains to be determined by reference to such Original Reference Rate, then the Issuer or, upon the service by the Security Trustee on the Issuer of an Issuer Acceleration Notice and on the CBC of a Notice to Pay, the CBC shall use its reasonable endeavours to appoint an Independent Adviser, as soon as reasonably practicable, with a view to the Independent Adviser determining a Successor Rate, or, if a Successor Rate is not available, an Alternative Rate (in accordance with Clause 10.12 below) and, in either case, an Adjustment Spread, if any (in accordance with Clause 10.13 below) and any Benchmark Amendments (in accordance with Clause 10.14 below). If the Issuer or the CBC, as the case may be, is unable to appoint an Independent Adviser, or the Independent Adviser appointed by the Issuer or the CBC, as the case may be, fails to determine a Successor Rate or an Alternative Rate, the Issuer or the CBC, as the case may be, (acting in good faith and in a commercially reasonable manner) shall use reasonable endeavours to determine a Successor Rate, or, if a Successor Rate is not available, an Alternative Rate (in accordance with Clause 10.12 below) and, in either case, an Adjustment Spread, if any (in accordance with Clause 10.13 below), and any Benchmark Amendments (in accordance with Clause 10.14 below). Without prejudice to the definitions thereof, for the purposes of determining any Successor Rate, Alternative Rate, Adjustment Spread and/or Benchmark Amendments, as the case may be, the Issuer or the CBC, as the case may be, will take into account any relevant and applicable market precedents and customary market usage as well as any published guidance from relevant associations involved in the establishment of market standards and/or protocols in the international debt capital markets. An Independent Adviser appointed pursuant to this Clause 10.11 shall act in good faith as an expert and (in the absence of wilful misconduct (opzet) or gross negligence (grove nalatigheid)) shall have no liability whatsoever to the Issuer, the CBC, any Paying Agent, the Calculation Agent, the Covered Bondholders or the Couponholders for any determination made by it or for any advice given to the Issuer or the CBC, as the case may be, in connection with any determination made by the Issuer or the CBC, as the case may be, pursuant to this Cla...
Benchmark Discontinuation. Notwithstanding the provisions above in this Condition 5.2, if the relevant Issuer, in consultation with the party responsible for determining the Rate of Interest (being the Principal Paying Agent, the Calculation Agent or such other party specified in the applicable Final Terms, as applicable), determines that a Benchmark Event occurs in relation to an Original Reference Rate at any time when the Conditions provide for any Rate of Interest (or any component part thereof) to be determined by reference to such Original Reference Rate, then the following provisions shall apply.
Benchmark Discontinuation. This Condition 3.5 applies only if “Benchmark Discontinuation” is specified to be applicable in the applicable Final Terms or, in the case of Exempt Notes, the applicable Pricing Supplement and where Screen Rate Determination is specified in the applicable Final Terms or, in the case of Exempt Notes, the applicable Pricing Supplement as the manner in which the Rate of Interest is to be determined.
Benchmark Discontinuation. This Condition 3(d) applies only if “Benchmark Replacement” is specified to be “Applicable” in the applicable Final Terms. If a Benchmark Event occurs in relation to an Original Reference Rate at any time when the Terms and Conditions of any Notes provide for any remaining Rate of Interest (or any component part thereof) to be determined by reference to such Original Reference Rate, then the following provisions apply:
Benchmark Discontinuation. SOFR Notwithstanding the foregoing provisions of this Condition 3(b) (Interest on Floating Rate Notes), if:
Benchmark Discontinuation. This Condition 4.4 is applicable to Notes only if the Floating Rate Note Provisions are specified in the form of Final Terms as being applicable.
Benchmark Discontinuation. Notwithstanding subclause 7.2 above, if the Relevant Issuer determines that a Benchmark Event has occurred in relation to the Original Reference Rate when any Rate of Interest (or component part thereof) remains to be determined by reference to that Original Reference Rate, then any such Rate of Interest will be calculated in the manner set out in the Conditions.
