Common use of CMT Rate Clause in Contracts

CMT Rate. If an Interest Rate for this Note is specified on the face --------- hereof as the CMT Rate, the CMT Rate shall be determined as of the applicable Interest Determination date (a "CMT Rate Interest Determination Date") as the treasury constant maturity rate for direct obligations of the United States ("Treasury Notes") on the relevant CMT Rate Interest Determination Date for the relevant Index Maturity as published in H.15(519) under the heading "U.S. Government Securities/Treasury Constant Maturities." In the event that such rate is not published by 3:00 p.m., New York City time, on the relevant Calculation Date, the CMT Rate will be the Bond Equivalent Yield of the arithmetic mean of the secondary market bid rates as of approximately 3:30 p.m., New York City time, on such CMT Rate Interest Determination Date of three primary United States government securities dealers in the City of New York selected by the Calculation Agent for the issue of Treasury Notes with a remaining maturity closest to the specified Index Maturity; provided, however, that if fewer than three dealers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the CMT Rate with respect to such Interest Reset Date will be the CMT Rate in effect on such CMT Rate Interest Determination Date.