Reference Banks definition

Reference Banks means four major banks in the London interbank market selected by the Beneficiary.

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Reference Banks means, in the case of a determination of LIBOR, the principal London office of four major banks in the London inter-bank market and, in the case of a determination of EURIBOR, the principal Euro-zone office of four major banks in the Euro-zone inter-bank market, in each case selected by the Calculation Agent or as specified hereon.

Reference Banks has the meaning specified in Schedule A.

Examples of Reference Banks in a sentence

• The Issuer will procure that there shall at all times be four Reference Banks selected by the Issuer acting through the Calculation Agent with offices in the Relevant Financial Centre and a Calculation Agent if provision is made for them in the Conditions applicable to any Series of Notes and for so long as any Series is outstanding.

• If two or more of the Reference Banks provide the Issuer and/or the Agent or the Calculation Agent, as applicable, with offered quotations, the Rate of Interest for the Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Agent or the Calculation Agent, as applicable.

• If the Relevant Screen Page is not available or if, in the case of (1), no offered quotation appears or, in the case of (2), fewer than three offered quotations appear, in each case as at the Specified Time, the Issuer or an agent appointed by it shall request each of the Reference Banks to provide its offered quotation (expressed as a percentage rate per annum) for the Reference Rate at approximately the Specified Time on the Interest Determination Date in question.

• If on any Interest Determination Date less than three or none of the CMS Reference Banks provides the Issuer or an agent appointed by it with such quotations as provided in the preceding paragraph, the CMS Rate shall be determined by the Issuer or an agent appointed by it in good faith on such commercial basis as considered appropriate in its absolute discretion, in accordance with standard market practice.

• If two or more of the Reference Banks provide the Issuer or an agent appointed by it with offered quotations, the Rate of Interest for the Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Agent.

More Definitions of Reference Banks

Reference Banks mean five leading swap dealers in the New York City interbank market, selected by the Calculation Agent, after consultation with us.

Reference Banks. Barclays Bank PLC, The Tokyo Mitsubishi Bank and National Westminster Bank PLC and their successors in interest; provided, however, that if any of the foregoing banks are not suitable to serve as a Reference Bank, then any leading banks selected by the Securities Administrator which are engaged in transactions in Eurodollar deposits in the International Eurocurrency market (i) with an established place of business in London, (ii) not controlling, under the control of or under common control with the Depositor or any Affiliate thereof and (iii) which have been designated as such by the Securities Administrator.

Reference Banks means the institutions specified in the Final Terms or Series Offering Document, as applicable, or, if none, four major banks selected by the Calculation Agent in the interbank market (or, if appropriate, money, swap or over- the-counter index options market) which is most closely connected with the Benchmark (which if EURIBOR is the relevant Benchmark, shall be Europe).

Reference Banks means leading banks selected by the Trustee and engaged in transactions in Eurodollar deposits in the international Eurocurrency market (i) with an established place of business in London, (ii) which have been designated as such by the Trustee and (iii) which are not controlling, controlled by, or under common control with, the Depositor, the Seller or the Master Servicer.

Reference Banks means the institutions specified as such in the Terms or, if none, four major banks selected by the Calculation Agent in the interbank market (or, if appropriate, money, swap or over-the-counter index options market) which is most closely connected with the Benchmark or, if the Relevant Currency is euro, the Euro-zone.

Reference Banks means the four major banks selected by the Calculation Agent in the market that is most closely connected with the Reference Rate;

Reference Banks means such banks as may be specified in the Final Terms as the Reference Banks, or, if none are specified or “Not Applicable” is specified in the Final Terms, “Reference Banks” has the meaning given in the ISDA Definitions, mutatis mutandis.