Sterling Notes. With respect to the Called Principal of any Non-Swapped Note denominated in Sterling, the sum of (a) the Applicable Percentage plus (b) the yield to maturity implied by (A) the “Ask yield(s)” reported as of 10:00 a.m. (London time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PXUK” (or such other display as may replace Page PXUK) on Bloomberg Financial Markets for the then most actively traded “on-the-run” UK Gilt securities (the “Reference Stock”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date or (B) if (i) Page PXUK on Bloomberg Financial Markets (or such other display as may replace Page PXUK) is not published on that day, or (ii) the calculation in Page PXUK ceases to be in keeping with the Formula for the Calculation of Redemption Yields indicated by the Joint Index and Classification Committee of the Faculty of Actuaries as reported in the Journal of the Institute of Actuaries Volume 105, Part I, 1978, page 18 (the “Formula”), the gross redemption yield calculated on the basis of the average of the yields for the Reference Stock having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date as reported by three authorized leading market makers in the gilt-edged market as at or about 11:00 a.
Appears in 3 contracts
Sources: Note Purchase Agreement (Lineage, Inc.), Note Purchase Agreement (Lineage, Inc.), Note Purchase Agreement (Lineage, Inc.)