EURIBOR Notes Clause Samples
The EURIBOR Notes clause defines the terms and conditions for financial instruments whose interest payments are calculated based on the Euro Interbank Offered Rate (EURIBOR). This clause typically specifies how the applicable EURIBOR rate is determined, the frequency of interest rate resets, and any relevant fallback provisions if the benchmark becomes unavailable. By clearly outlining these mechanisms, the clause ensures transparency in interest calculations and protects both parties from uncertainties related to benchmark rate fluctuations.
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EURIBOR Notes. If the Interest Rate Basis is EURIBOR, this Note shall be deemed a “EURIBOR Note.” Unless otherwise specified on the face hereof, “EURIBOR” means: (1) with respect to any Interest Determination Date relating to this EURIBOR Note (a “EURIBOR Interest Determination Date”), the rate for deposits in euros as sponsored, calculated and published jointly by the European Banking Federation and ACI — The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, as the rate appears on Moneyline Telerate or any successor service, on page 248 (or any other page as may replace that specified page on the service) (“Moneyline Telerate Page 248”) as of 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date; or (2) if such rate does not appear on Moneyline Telerate Page 248, or is not so published by 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date, such rate will be calculated by the Calculation Agent and will be the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone (as defined below) offices of four major banks in the Euro-zone interbank market to provide the Calculation Agent with its offered quotation for deposits in euros for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of $1 million in euros that is representative for a single transaction in euro in the market at that time; or (3) if fewer than two such quotations are so provided, the rate on the applicable EURIBOR Interest Determination Date will be calculated by the Calculation Agent and will be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks in the Euro-zone for loans in euro to leading European banks, having the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date and in a principal amount not less than the equivalent of $1 million in euros that is representative for a single transaction in euros in the marke...
EURIBOR Notes. If the Interest Rate Basis is EURIBOR, this Note shall be deemed a “EURIBOR Note.” Unless otherwise specified on the face hereof, “EURIBOR” means: (1) with respect to any Interest Determination Date relating to this EURIBOR Note (a “EURIBOR Interest Determination Date”), the rate for deposits in euros as sponsored, calculated and published jointly by the European Banking Federation and ACI — The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, as the rate appears on Moneyline Telerate or any successor service, on page 248 (or any other page as may replace that specified page on the service) (“Moneyline Telerate Page 248”) as of 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date; or (2) if such rate does not appear on Moneyline Telerate Page 248, or is not so published by 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date, such rate will be calculated by the Calculation Agent and will be the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone (as defined below) offices of four major banks in the Euro-zone interbank market to provide the Calculation Agent with its offered quotation for deposits in euros for
EURIBOR Notes. If the Interest Rate Basis is EURIBOR, this Note shall be deemed a “EURIBOR Note.” Unless otherwise specified on the face hereof, “EURIBOR” means: (1) with respect to any Interest Determination Date relating
EURIBOR Notes. If the Interest Rate Basis is EURIBOR, this Note shall be deemed a "EURIBOR Note." Unless otherwise specified on the face hereof, "EURIBOR" means: (1) with respect to any Interest Determination Date relating to this EURIBOR Note (a "EURIBOR Interest Determination Date"), the rate for deposits in euros as sponsored, calculated and published jointly by the European Banking Federation and ACI - The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, as the rate appears on Moneyline Telerate or any successor service, on page 248 (or any other page as may replace that specified page on the service) ("Moneyline Telerate Page 248") as of 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date; or (2) if such rate does not appear on Moneyline Telerate Page 248, or is not so published by 11:00 A.M., Brussels time, on the applicable EURIBOR Interest Determination Date, such rate will be calculated by the A-2-19
EURIBOR Notes. If the Interest Rate Basis is EURIBOR, this Note shall be deemed to be a “EURIBOR Note.” Unless otherwise specified on the face hereof, “EURIBOR” means:
(1) the offered rate for deposits in Euro as sponsored, calculated and published jointly by the European Banking Federation and ACI — The Financial Markets Association, or any company established by them for purposes of establishing those rates, having the Index Maturity specified on the face hereof, commencing on the Interest Reset Date, as displayed on Reuters on page EURIBOR01, or any successor service or page used for the purpose of displaying this rate (“Reuters Page EURIBOR01”) as of 11:00 A.M., Brussels time, on the particular Interest Determination Date; or
(2) if EURIBOR cannot be determined on an Interest Determination Date as described in clause (1) above, then the Calculation Agent will select four (4) major banks in the Euro- zone interbank market (which may include the Calculation Agent itself and its affiliates, as well as any underwriter, dealer or agent participating in the distribution of this Note and their affiliates) after consultation with the Company. The Calculation Agent will request that the principal London offices of those four (4) selected banks provide their offered quotations to prime banks in the Euro- zone interbank market at approximately 11:00 A.M., Brussels time, on the Interest Determination Date. These quotations will be for Euro deposits for the period of the Index Maturity specified on the face hereof, commencing on the Interest Reset Date. Offered quotations must be based on a principal amount equal to at least $1,000,000 or the approximate equivalent in Euro that is representative of a single transaction in the market at the time. If two (2) or more quotations are provided, EURIBOR for the Interest Reset Period will be the arithmetic mean of the quotations; or
(3) if fewer than two (2) quotations are provided as described in clause (2) above, the Calculation Agent will select four (4) major banks in the Euro-zone interbank market (which may include the Calculation Agent itself and its affiliates, as well as any underwriter, dealer or agent participating in the distribution of this Note and their affiliates) after consultation with the Company and then determine EURIBOR for the Interest Reset Period as the arithmetic mean of rates quoted by those four (4) major banks in the Euro-zone to leading Euro-zone banks at approximately 11:00 A.M., Brussels time, on the Inter...
EURIBOR Notes. Note will bear interest at the interest rate (calculated with reference to EURIBOR and the Spread and/or Spread Multiplier and will be subject to the minimum interest rate or the maximum interest rate, if any) specified in the EURIBOR Note and in the applicable Pricing Supplement. Unless otherwise indicated in the applicable Pricing Supplement, EURIBOR shall be calculated as set forth in the MTN Prospectus.