USD SOFR ICE Swap Rate definition

USD SOFR ICE Swap Rate means the rate for SOFR-linked interest rate swaps with the tenor listed in Attachment A that appears on the source page specified in Attachment A and as published by ICE Benchmark Administration Limited (including any successor administrator, “ICE” or the “Administrator”) on its website at the Fixing Time, on the ICE Swap Determination Date, as determined by the Calculation Agent.
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USD SOFR ICE Swap Rate means the benchmark for the mid-price for the fixed leg of a fixed-for-floating U.S. Dollar swap transaction where the floating leg references the Secured Overnight Financing Rate administered by the Federal Reserve Bank of New York (or any successor administrator) (SOFR) and both the fixed leg and floating leg are paid annually, as provided by ICE Benchmark Administration Limited as the administrator of the benchmark (or a successor administrator) as published on the Relevant Screen Page as of the Relevant Time on the Interest Determination Date.1.2 Rate Disruption Unless a Benchmark Cessation Event (as defined below) has occurred, in which case section 2 (Benchmark Cessation Event) below shall apply, if the Reference Rate is not (i) published by the administrator of such Reference Rate or an authorised distributor or (ii) otherwise provided by the administrator of such Reference Rate on any Interest Determination Date, then the Reference Rate shall be determined by the Determination Agent as the Reference Rate published with respect to the first Business Day preceding such Interest Determination Date for which the Reference Rate was published by or on behalf of the administrator of the Reference Rate. If the Determination Agent determines that it is unable to determine the Reference Rate in accordance with the preceding sentence, the Reference Rate in respect of the relevant Interest Determination Date shall be such other rate as determined by the Determination Agent, taking into account (i) any source(s) that as it considers appropriate, (ii) any alternative benchmark(s) then available, and (iii) prevailing industry standards in any related market (including, without limitation, the derivatives market). 1.3 Corrections to Published and Displayed Rates In the event that the Reference Rate determined in accordance with section 1.1 above is subsequently corrected, and the correction (the "Corrected Rate") is published after the original publication but no later than the longer of (i) one hour after such original publication and (ii) any other period for corrections specified by a relevant administrator in its methodology for the relevant Reference Rate, then provided that such Corrected Rate is published on or prior to the date falling two Business Days prior to the date on which a related payment is scheduled to be made under the Securities (the "Relevant Scheduled Payment Date"), then such Corrected Rate shall be deemed to be the relevant Reference Rate ...
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USD SOFR ICE Swap Rate means the swap rate for a fixed-for-floating U.S. Dollar swap transaction where the floating leg references the Secured Overnight Financing Rate administered by the Federal Reserve Bank of New York (or any successor administrator) (SOFR), as administered by ICE Benchmark Administration Limited (or a successor administrator).
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Examples of USD SOFR ICE Swap Rate in a sentence

  • Whenever the Calculation Agent is required to act, make a determination or exercise judgement pursuant to a replacement of the USD SOFR ICE Swap Rate by either the Alternative Post-Nominated Index rate or the Calculation Agent Nominated Replacement Index rate, it shall do so by reference to Relevant Market Data available at, or a reasonable period of time prior to, the time of notification.

  • The Calculation Agent shall notify the Issuer of any determination it makes pursuant to the replacement of the USD SOFR ICE Swap Rate by either the Alternative Post-Nominated Index rate or the Calculation Agent Nominated Replacement Index rate as soon as reasonably practicable after either of these replacement rates first apply and, in any event, at least two Business Days before the Cut-off Date.

  • In that event, the fallback provisions below for the USD SOFR ICE Swap Rate will apply to the USD SOFR Spread-Adjusted ICE Swap Rate.

  • If an Index Cessation Event or an Administrator/Benchmark Event occurs with respect to the USD SOFR ICE Swap Rate, then, from and including the Index Cessation Effective Date or the Administrator/Benchmark Event Date, as applicable, the Alternative Post-Nominated Index rate will apply to Notes.


More Definitions of USD SOFR ICE Swap Rate

USD SOFR ICE Swap Rate means the swap rate for a fixed-for-floating U.S. Dollar swap transaction where the floating leg references the Secured Overnight Financing Rate administered by the Federal Reserve Bank of New York (or any successor administrator) (SOFR), as provided by ICE Benchmark Administration Limited as the administrator of the benchmark (or a successor administrator). For a description of SOFR, please see paragraph 2 “Information on Secured Overnight Financing Rate” below.
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USD SOFR ICE Swap Rate means the benchmark for the mid-price for the
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Related to USD SOFR ICE Swap Rate

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 3(b)(ii), either:

  • Mid-Market Swap Rate means for any Reset Period the mean of the bid and offered rates for the fixed leg payable with a frequency equivalent to the frequency with which scheduled interest payments are payable on the Notes during the relevant Reset Period (calculated on the day count basis customary for fixed rate payments in the Relevant Currency as determined by the Calculation Agent) of a fixed-for-floating interest rate swap transaction in the Relevant Currency which transaction (i) has a term equal to the relevant Reset Period and commencing on the relevant Reset Date, (ii) is in an amount that is representative for a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market and (iii) has a floating leg based on the Mid-Swap Floating Leg Benchmark Rate for the Mid-Swap Maturity (calculated on the day count basis customary for floating rate payments in the Relevant Currency as determined by the Calculation Agent);

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;