Common use of Fixed Rate Period Clause in Contracts

Fixed Rate Period. During the period from (and including) May 17, 2022, to (but excluding) May 17, 2032, the Notes will bear interest at the rate of 5.023% per annum (the “Initial Interest Rate”). Such interest will be payable semi-annually in arrears on each May 17 and November 17 of each year, beginning on November 17, 2022 and ending on May 17, 2032 (each, a “Fixed Rate Period Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any scheduled Fixed Rate Period Interest Payment Date is not a Business Day, any payment of principal and interest on the Notes will be postponed to the next day that is a Business Day, but interest on that payment will not accrue during the period from and after the scheduled Fixed Rate Period Interest Payment Date. (i) Floating Rate Period. During the period from (and including) May 17, 2032, to (but excluding) the Maturity Date (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 205 basis points per annum (the “Margin”), as determined in arrears by the Calculation Agent in the manner described herein. Such interest will be payable quarterly in arrears on August 17, 2032, November 17, 2032, February 17, 2033 and on the Maturity Date (each a “Floating Rate Period Interest Payment Date”). Such interest will be computed for the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date or the Maturity Date (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period for the Notes will begin on (and include) May 17, 2032 and will end on (but exclude) the first Floating Rate Period Interest Payment Date. (ii) The Calculation Agent will calculate the interest rate on the Notes quarterly on the second U.S. Government Securities Business Day preceding the applicable Floating Rate Period Interest Payment Date (the “Interest Determination Date”). In no event will the interest payable on the Notes be less than zero. Interest will be computed on the basis of the actual number of days in each Floating Rate Interest Period (or any other relevant period) and a 360-day year. The amount of accrued interest payable on the Notes for each Floating Rate Interest Period will be computed by multiplying (i) the outstanding principal amount of the Notes by (ii) the product of (a) the interest rate for the relevant Floating Rate Interest Period multiplied by (b) the quotient of the actual number of calendar days in the applicable Floating Rate Interest Period relating to such Floating Rate Interest Period (or any other relevant period) divided by 360. (iii) If any scheduled Floating Rate Period Interest Payment Date (other than the Maturity Date) is not a Business Day, such Floating Rate Period Interest Payment Date will be postponed to the next day that is a Business Day; provided that if that Business Day falls in the next succeeding calendar month, such Floating Rate Period Interest Payment Date will be the immediately preceding Business Day. If any such Floating Rate Period Interest Payment Date (other than the Maturity Date) is postponed or brought forward as described above, the payment of interest due on such postponed or brought forward Floating Rate Period Interest Payment Date will include interest accrued to (but excluding) such postponed or brought forward Floating Rate Period Interest Payment Date.

Fixed Rate Period. During the period from (and including) May 17November 18, 20222024, to (but excluding) May 17January 15, 20322030, the Notes will bear interest at the rate of 5.0235.272% per annum (the “Initial Interest Rate”). Such interest will be payable semi-annually in arrears on each May 17 January 15 and November 17 July 15 of each year, beginning on November 17January 15, 2022 2025 and ending on May 17January 15, 2032 2030 (each, a “Fixed Rate Period Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any scheduled Fixed Rate Period Interest Payment Date is not a Business Day, any payment of principal and interest on the Notes will be postponed to the next day that is a Business Day, but interest on that payment will not accrue during the period from and after the scheduled Fixed Rate Period Interest Payment Date. (i) Floating Rate Period. During the period from (and including) May 17January 15, 20322030, to (but excluding) the Maturity Date (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 205 127.6 basis points per annum (the “MarginSpread”), as determined in arrears by the Calculation Agent in the manner described herein, subject to the terms of the Interest Calculation Agreement. Such interest will be payable quarterly in arrears on August 17April 15, 20322030, November 17July 15, 20322030, February 17October 15, 2033 2030 and on the Maturity Date (each a “Floating Rate Period Interest Payment Date”). Such interest will be computed for the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date or the Maturity Date or date of redemption or repayment (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period for the Notes will begin on (and include) May 17January 15, 2032 2030 and will end on (but exclude) the first Floating Rate Period Interest Payment Date. (ii) The Calculation Agent will calculate the interest rate on the Notes quarterly on the second U.S. Government Securities Business Day preceding the applicable Floating Rate Period Interest Payment Date Date, except as described below (the “Interest Determination Date”). In no event will the interest payable on the Notes be less than zero. Interest will be computed on the basis of the actual number of days in each Floating Rate Interest Period (or any other relevant period) and a 360-day year. The amount of accrued interest payable on the Notes for each Floating Rate Interest Period will be computed by multiplying (i) the outstanding principal amount of the Notes by (ii) the product of (a) the interest rate for the relevant Floating Rate Interest Period multiplied by (b) the quotient of the actual number of calendar days in the applicable Floating Rate Interest Period relating to such Floating Rate Interest Period (or any other relevant period) divided by 360. (iii) If any scheduled Floating Rate Period Interest Payment Date (other than the Maturity Date) is not a Business Day, such Floating Rate Period Interest Payment Date will be postponed to the next day that is a Business Day; provided that if that Business Day falls in the next succeeding calendar month, such Floating Rate Period Interest Payment Date will be the immediately preceding Business Day. If any such Floating Rate Period Interest Payment Date (other than the Maturity Date) is postponed or brought forward as described above, the payment of interest due on such postponed or brought forward Floating Rate Period Interest Payment Date will include interest accrued to (but excluding) such postponed or brought forward Floating Rate Period Interest Payment Date.

Fixed Rate Period. During the period from (and including) May 17August 21, 20222023, to (but excluding) May 17August 21, 20322028, the Notes will bear interest at the rate of 5.0236.208% per annum (the “Initial Interest Rate”). Such interest will be payable semi-annually in arrears on each May 17 February 21 and November 17 August 21 of each year, beginning on November 17February 21, 2022 2024 and ending on May 17August 21, 2032 2028 (each, a “Fixed Rate Period Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any scheduled Fixed Rate Period Interest Payment Date is not a Business Day, any payment of principal and interest on the Notes will be postponed to the next day that is a Business Day, but interest on that payment will not accrue during the period from and after the scheduled Fixed Rate Period Interest Payment Date. (i) Floating Rate Period. During the period from (and including) May 17August 21, 20322028, to (but excluding) the Maturity Date (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 205 202 basis points per annum (the “MarginSpread”), as determined in arrears by the Calculation Agent in the manner described herein, subject to the terms of the Interest Calculation Agreement. Such interest will be payable quarterly in arrears on August 17November 21, 2032, November 17, 20322028, February 1721, 2033 2029, May 21, 2029 and on the Maturity Date (each a “Floating Rate Period Interest Payment Date”). Such interest will be computed for the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date or the Maturity Date (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period for the Notes will begin on (and include) May 17August 21, 2032 2028 and will end on (but exclude) the first Floating Rate Period Interest Payment Date. (ii) The Calculation Agent will calculate the interest rate on the Notes quarterly on the second U.S. Government Securities Business Day preceding the applicable Floating Rate Period Interest Payment Date (the “Interest Determination Date”). In no event will the interest payable on the Notes be less than zero. Interest will be computed on the basis of the actual number of days in each Floating Rate Interest Period (or any other relevant period) and a 360-day year. The amount of accrued interest payable on the Notes for each Floating Rate Interest Period will be computed by multiplying (i) the outstanding principal amount of the Notes by (ii) the product of (a) the interest rate for the relevant Floating Rate Interest Period multiplied by (b) the quotient of the actual number of calendar days in the applicable Floating Rate Interest Period relating to such Floating Rate Interest Period (or any other relevant period) divided by 360. (iii) If any scheduled Floating Rate Period Interest Payment Date (other than the Maturity Date) is not a Business Day, such Floating Rate Period Interest Payment Date will be postponed to the next day that is a Business Day; provided that if that Business Day falls in the next succeeding calendar month, such Floating Rate Period Interest Payment Date will be the immediately preceding Business Day. If any such Floating Rate Period Interest Payment Date (other than the Maturity Date) is postponed or brought forward as described above, the payment of interest due on such postponed or brought forward Floating Rate Period Interest Payment Date will include interest accrued to (but excluding) such postponed or brought forward Floating Rate Period Interest Payment Date.