USD Benchmark definition

USD Benchmark means, initially, with respect to compounded SOFR notes and simple average SOFR notes, SOFR; provided, in each case, that if a USD Benchmark Transition Event and related USD Benchmark Replacement Date have occurred with respect to SOFR or the then- current USD Benchmark, then “USD Benchmark” means the applicable USD Benchmark Replacement.

USD Benchmark means, initially, Compounded SOFR, as such term is defined in Condition 5.03; provided that if the Issuer or the Benchmark Transition Designee determines on or prior to the Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published daily SOFR used in the calculation thereof) or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.

USD Benchmark means the applicable USD Benchmark Replacement to the extent that such USD Benchmark Replacement has replaced such prior benchmark rate. Any reference to “USD Benchmark” shall include, as applicable, the published component used in the calculation thereof.

Examples of USD Benchmark in a sentence

• In accordance with the USD benchmark transition provisions, after a USD Benchmark Transition Event and related USD Benchmark Replacement Date have occurred, the amount of interest that will be payable for each applicable interest period will be determined by reference to a per annum rate equal to the USD Benchmark Replacement plus or minus the spread, or multiplied by the spread multiplier, as may be specified in the applicable supplement.

• In connection with the implementation of a Benchmark Replacement with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD Benchmark, the Issuer or the Benchmark Transition Designee will have the right, subject to satisfaction of the Benchmark Transition Event Conditions, to make Benchmark Replacement Conforming Changes with respect to any U.S. dollar denominated Floating Rate Covered Bonds from time to time.

• JPMorgan Funds - China Fund Reference Currency US Dollar (USD) Benchmark MSCI China 10/40 Index (Total Return Net) Investment Objective To provide long-term capital growth by investing primarily in companies of the People’s Republic of China.

• For the avoidance of doubt, if the event giving rise to the USD Benchmark Replacement Date occurs on the same day as, but earlier than, the USD Benchmark Reference Time in respect of any determination, the USD Benchmark Replacement Date will be deemed to have occurred prior to the USD Benchmark Reference Time for such determination.

• In accordance with the USD benchmark transition provisions, after a USD Benchmark Transition Event and related USD Benchmark Replacement Date have occurred, the amount of interest that will be payable for each applicable interest period will be determined by reference to a per annum rate equal to the USD Benchmark Replacement plus or minus the spread, or multiplied by the spread multiplier, as may be specified in the applicable S-56 supplement.

More Definitions of USD Benchmark

USD Benchmark means, initially, LIBOR; provided that if a replacement of the USD Benchmark has occurred pursuant to Section 3.08 then “USD Benchmark” means the applicable USD Benchmark Replacement to the extent that such USD Benchmark Replacement has replaced such prior benchmark rate. Any reference to “USD Benchmark” shall include, as applicable, the published component used in the calculation thereof.

USD Benchmark has the meaning assigned to such term in the definition of “Benchmark”.

USD Benchmark means, initially, USD LIBOR of the appropriate tenor; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current USD Benchmark, then "USD Benchmark" means the applicable Benchmark Replacement."

USD Benchmark means, initially, USD LIBOR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current USD Benchmark, then “USD Benchmark” means the applicable Benchmark Replacement. Interest Period The period from and including the Interest Commencement Datefor the Secured Notes to but excluding the first Interest Payment Date for the Secured Notes, and each successive period from and including the first day following the end of the preceding Interest Period to but excluding the following Interest Payment Date until the principal of the Secured Notes is paid or made available for payment. Interest period may be adjusted or unadjusted. Day Count Fraction. (i) If “Actual/360” is specified in the applicable Final Terms,the actual number of days in the Interest Period divided by 360. (ii) If “Actual/365” is specified in the applicable Final Terms, the actual number of days in the Interest Period divided by 365.(iii) If “30/360” is specified in the applicable Final Terms, the number of days in the Interest Period in respect of which payment is being made divided by 360, calculated on a formula basis as follows: Day Count Fraction = [360 × (Y2 – Y1)] + [30 × (M2 – M1)] + [D2 – D1] 360where:

USD Benchmark means, initially, Compounded SOFR, as such term is defined in Condition 4.2; provided that if the Issuer or the USD Benchmark Transition Designee determines on or prior to the USD Reference Time that a USD Benchmark Transition Event and its related USD Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published daily SOFR used in the calculation thereof) or the then-current USD Benchmark, then “USD Benchmark” means the applicable USD Benchmark Replacement.

USD Benchmark means, initially, (in respect of U.S. dollar LIBOR referenced Floating Rate Notes) U.S. dollar LIBOR or (in respect of SOFR referenced Floating Rate Notes), Compounded SOFR; provided that if a USD Benchmark Transition Event and its related USD Benchmark Replacement Date have occurred with respect to U.S. dollar LIBOR or Compounded SOFR, as applicable, or the then-current USD Benchmark, then “USD Benchmark” means the applicable Benchmark Replacement.

USD Benchmark means the one to five year US Government bond benchmark, specifically the Barclays US Treasury 1-5 Year bond benchmark ID #641 or such benchmark as may be chosen by the Investment Manager and notified in advance to the Unit Holders.