Successor Model definition
Examples of Successor Model in a sentence
If a Successor Model is selected or the Calculation Agent calculates a level as a substitute for the Model as described below, the Successor Model or level shall be used as a substitute for the Model for all purposes, including the purpose of determining whether a Securities Disruption Event exists.
In the event that the Model Sponsor discontinues publication of the Model and: • the Calculation Agent does not select a Successor Model; or • the Successor Model is not published on any of the Calculation Days, the Calculation Agent shall compute a substitute level for the Model in accordance with the procedures last used to calculate the Model before any discontinuance.
Upon any selection by the Calculation Agent of a Successor Model, the Company shall cause notice to be given to Holders of this Global Note.