Common use of Duties of the Calculation Agent Clause in Contracts

Duties of the Calculation Agent. The Calculation Agent shall calculate the amount of interest payable on the Floating Rate Notes in the manner and at the times set forth in Schedules 1 and 2. As soon as practicable after each interest determination date (as defined in Schedules 1 and 2), the Calculation Agent will cause to be forwarded to the Fiscal Agent, the Issuer and the Trustee information regarding the interest rate, the interest period (as defined in Schedules 1 and 2), the amount of interest for such interest period and the relevant interest payment date. The Calculation Agent will, upon the request of any Noteholder of a Floating Rate Note, provide the interest rate then in effect. In no event shall the interest rate be more than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. The Calculation Agent shall act as an independent expert for the purpose of determining the interest rate of, and the amount of interest on, the Floating Rate Notes.