Examples of Mid-Swap Floating Leg Benchmark Rate in a sentence
Promptly following the determination of any Alternative Mid-Swap Floating Leg Benchmark Rate as described in this Condition 6.8, the Issuer shall give notice thereof and of any adjustments (and the effective date thereof) pursuant to this Condition 6.8 to the Fiscal Agent, (in the case of VP Systems Notes) the VP Systems Agent, the Calculation Agent and the Holders in accordance with Condition 24 (Notices).
For the avoidance of doubt, if an Alternative Mid-Swap Floating Leg Benchmark Rate is not determined pursuant to the operation of this Condition 6.8 prior to the relevant Issuer Mid-Swap Determination Cut- off Date, then the Rate of Interest for such next Reset Period shall be determined by reference to the fallback provisions of Condition 6.7 (Fallbacks).
Notwithstanding any other provision of this Condition 5(b)(iv), no Alternative Mid-Swap Floating Leg Benchmark Rate will be adopted and no other amendment to the terms of the Tier 2 Notes will be made pursuant to this Condition 5(b)(iv), if and to the extent that, in the determination of the Bank, the same could reasonably be expected to prejudice the qualification of the Tier 2 Notes as Tier 2 Capital of the Bank.
No consent of the Noteholders shall be required in connection with effecting the relevant Alternative Mid-Swap Floating Leg Benchmark Rate as described in this Condition 5(b)(iv) or such other relevant adjustments pursuant to this Condition 5(b)(iv), including for the execution of any documents or the taking of other steps by the Bank or any of the parties to the Trust Deed and/or the Agency Agreement (if required).
For the avoidance of doubt, if an Alternative Mid-Swap Floating Leg Benchmark Rate is not determined pursuant to the operation of this Condition 5(b)(iv) prior to the relevant IA Mid- Swap Determination Cut-off Date, then the Rate of Interest for such next Reset Period shall be determined by reference to the fallback provisions of Condition 5(b)(iii).