Common use of Determination or Calculation by Trustee Clause in Contracts

Determination or Calculation by Trustee. If the Agent Bank does not at any time for any reason determine any Interest Rate (as adjusted by any applicable Margin), Interest Amount, Redemption Amount or any other amount to be determined or calculated by it, the Trustee shall determine such Interest Rate (as adjusted by any applicable Margin), Interest Amount, Instalment Amount or other amount as aforesaid at such rate or in such amount as in its absolute discretion (having regard as it shall think fit to the procedures described above, but subject to the terms of the Trust Deed) it shall deem fair and reasonable in all the circumstances or, subject as aforesaid, apply the foregoing provisions of this Condition, with any consequential amendments, to the extent that, in its sole opinion, it can do so and in all other respects it shall do so in such manner as it shall, in its absolute discretion, deem fair and reasonable in the circumstances, and each such determination or calculation shall be deemed to have been made by the Principal Paying Agent or the Agent Bank, as the case may be.

Appears in 5 contracts

Samples: Management Agreement (Barclaycard Funding PLC), Management Agreement (Barclaycard Funding PLC), Management Agreement (Gracechurch Receivables Trustee LTD)

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Determination or Calculation by Trustee. If the Agent Bank does not at any time for any reason at any relevant time the Agent or, as the case may be, the Calculation Agent defaults in its obligation to determine the Rate of Interest or the Agent defaults in its obligation to calculate any Interest Rate Amount in accordance with sub-paragraph (ii)(A) or (B) above or as adjusted by any otherwise specified in the applicable Margin)Final Terms, Interest Amountas the case may be, Redemption Amount or any other amount to be determined or calculated by itand in each case in accordance with paragraph (iv) above, the Trustee shall determine such the Rate of Interest Rate (as adjusted by any applicable Margin), Interest Amount, Instalment Amount or other amount as aforesaid at such rate or in such amount as as, in its absolute discretion (having such regard as it shall think fit to the procedures described aboveforegoing provisions of this Condition, but subject always to any Minimum Rate of Interest or Maximum Rate of Interest specified in the terms of the Trust Deed) applicable Final Terms), it shall deem fair and reasonable in all the circumstances or, subject as aforesaidthe case may be, apply the foregoing provisions of this Condition, with any consequential amendments, to Trustee shall calculate the extent that, in its sole opinion, it can do so and in all other respects it shall do so Interest Amount(s) in such manner as it shall, in its absolute discretion, shall deem fair and reasonable in all the circumstances, circumstances and each such determination or calculation shall be deemed to have been made by the Principal Paying Agent or the Agent BankCalculation Agent, as the case may beapplicable.

Appears in 3 contracts

Samples: Cadbury Public LTD Co, Cadbury Schweppes Public LTD Co, Cadbury Schweppes Public LTD Co

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Determination or Calculation by Trustee. If the Calculation Agent Bank does not at any time for any reason determine any Interest Rate (as adjusted by any applicable Margin)Rate, Interest Amount, Redemption Amount, Instalment Amount or any other amount to be determined or calculated by it, the Trustee (or an agent appointed by the Trustee) shall determine such Interest Rate (as adjusted by any applicable Margin)Rate, Interest Amount, Redemption Amount, Instalment Amount or other amount as aforesaid at such rate or in such amount as in its absolute discretion (having regard as it shall think fit to the procedures described above, but subject to the terms of the Trust Deed) it shall deem fair and reasonable in all the circumstances or, subject as aforesaid, apply the foregoing provisions of this Condition, with any consequential amendments, to the extent that, in its sole opinion, it can do so and in all other respects it shall do so in such manner as it shall, in its absolute discretion, deem fair and reasonable in the circumstances, and each such determination or calculation shall be deemed to have been made by the Principal Paying Agent or the Agent Bank, as the case may beCalculation Agent.

Appears in 1 contract

Samples: Agreement

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