Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor.
Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (i) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor, and (ii) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor.
Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between:
Examples of Interpolated Benchmark in a sentence
If the Independent Adviser or, as the case may be, the Issuer cannot determine the Interpolated Benchmark, (for example, because the Benchmark Event has occurred with respect to the Original Reference Rate for all tenors), the Benchmark Replacement would be the first of the following alternatives – (i) Identified SORA, (ii) Compounded SORA, (iii) the Successor Rate, (iv) the ISDA Fallback Rate (including Fallback Rate (SOR)) and (v) the Alternative Rate.
In the first instance, the Benchmark Replacement would be the Interpolated Benchmark.
The terms of this USD LIBOR Instrument provide for USD LIBOR to be replaced by a rate that matches the Federal Reserve Board-selected Benchmark Replacement if the issuer determines that a Benchmark Transition Event and the related Benchmark Replacement Date have occurred and the Interpolated Benchmark (as each such term is defined in the terms of such USD LIBOR Instrument) cannot be determined.
Add the interpolation product of the Benchmark Tenor to the corresponding Reference Rate of the lower interpolation point and the sum shall be Interpolated Benchmark Tenor Rate.
Each determination of the Fixed Rate, the Interpolated Benchmark Treasury Rate, the Interpolated Benchmark Swap Rate and the Market Value of the Eligible Mortgage Loans shall be made by the Note Insurer or, if the Note Insurer so elects, by the Liquidity Agent acting on its behalf.
More Definitions of Interpolated Benchmark
Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is
Interpolated Benchmark with respect to the Benchmark means the rate determined for the
Interpolated Benchmark means with respect to the Relevant Rates Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (a) the Relevant Rates Benchmark for the longest period (for which the Relevant Rates Benchmark is available) that is shorter than the Corresponding Tenor and (b) the Relevant Rates Benchmark for the shortest period (for which the Relevant Rates Benchmark is available) that is longer than the Corresponding Tenor;
Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor. For the avoidance of doubt, the calculation of Interpolated Benchmark will exclude the Benchmark Replacement Adjustment and the spread specified in the first paragraph of Section 2 (Payment).
Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor. “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. “ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. “ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment. “Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is LIBOR, 11:00 a.m., London time, on the Interest Determination Date, and (2) if the Benchmark is not LIBOR, the time determined by the Company (or its Designee) in accordance with the Benchmark Replacement Conforming Changes.
Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (i) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (ii) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor. “ISDA” means the International Swaps and Derivatives Association, Inc. or any successor thereto. “ISDA Definitions” means the 2006 ISDA Definitions published by the ISDA or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. “ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. “ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment. “Jet Yard” means Jet Yard, LLC, an Arizona limited liability company. “Lender” has the meaning set forth in the Recitals. “Lender Affiliate” means Park Financial Group, Inc. or any direct or indirect subsidiary of Park Financial Group, Inc. (other than Lender itself).
Interpolated Benchmark is defined in Section 213(c)(v).