Common use of Floating Rate Period Clause in Contracts

Floating Rate Period. During the period from (and including) March 12, 2030 to (but excluding) the Maturity Date or the date of redemption (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 141 basis points per annum (the “Spread”), as determined in arrears by the Calculation Agent in the manner described herein. In no event will the interest payable on the Notes be less than zero. During the Floating Rate Period, interest on the Notes will be payable quarterly in arrears on June 12, 2030, September 12, 2030, December 12, 2030 and on the Maturity Date and any redemption date (each, a “Floating Rate Interest Payment Date”). Such interest will be computed for the period beginning on (and including) a Floating Rate Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Interest Payment Date or the Maturity Date or date of redemption (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period will begin on (and include) March 12, 2030 and will end on (but exclude) the first Floating Rate Interest Payment Date. 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 Interest Payment Date, except as described below (the “Interest Determination Date”). Interest during the Floating Rate Period will be computed on the basis of the actual number of days in each Floating Rate Interest 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 divided by 360. The interest payable during the Floating Rate Period will be paid to each Holder in whose name a Note is registered at the close of business on the fifteenth calendar day (whether or not a Business Day) immediately preceding the applicable Floating Rate Interest Payment Date. If any scheduled Floating Rate Interest Payment Date (other than the Maturity Date or any redemption date) falls on a day that is not a Business Day, then such Floating Rate Interest Payment Date will be postponed to the next succeeding Business Day unless such day falls in the next succeeding calendar month, in which case such Floating Rate Interest Payment Date will be accelerated to the immediately preceding Business Day, and, in each such case, the amount payable on such Business Day will include interest accrued to (but excluding) such Business Day.

Floating Rate Period. (i) During the period from (from, and including) , March 126, 2030 to (to, but excluding) , the Maturity Date or the date of redemption (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 141 168 basis points per annum (the “Spread”)points, as determined in arrears by the Calculation Agent in the manner described herein. In no event will the Such interest payable on the Notes be less than zero. During the Floating Rate Period, interest on the Notes will be payable quarterly quarterly, in arrears arrears, on June 126, 2030, September 126, 2030, December 126, 2030 and on at the Maturity Date and any redemption date (each, each a “Floating Rate Period Interest Payment Date”). Such interest will be computed for the period beginning on . (and includingii) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Interest Payment Date or the Maturity Date or date of redemption (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period will begin on (and include) March 12, 2030 and will end on (but exclude) the first Floating Rate Interest Payment Date. 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 Interest Payment Date, except as described below (the “Interest Determination Date”). Interest during the Floating Rate Period 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 Observation Period relating to such Floating Rate Interest Period (or any other relevant period) divided by 360. The interest payable during the Floating Rate Period will be paid to each Holder in whose name a Note is registered at the close of business rate on the fifteenth calendar day Notes will in no event be lower than zero. (whether or not a Business Dayiii) immediately preceding the applicable Floating Rate Interest Payment Date. If any scheduled Floating Rate Period Interest Payment Date (other than the Maturity Date or any redemption dateRedemption Date) falls on a day that is not a Business Day, then such Floating Rate Period Interest Payment Date will be postponed to the next succeeding Business Day, except that, if the next succeeding Business Day unless such day falls in the next succeeding calendar month, in which case then such Floating Rate Period Interest Payment Date will be accelerated advanced to the immediately preceding day that is a Business Day, and, in each . If any such caseFloating Rate Period Interest Payment Date (other than the Maturity Date or any Redemption Date) is postponed or brought forward as described above, the amount payable payment of interest due on such Business Day 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. (iv) The Calculation Agent will determine the Benchmark, the interest rate and accrued interest for each interest period in arrears as soon as reasonably practicable on or after the Floating Interest Payment Determination Date for such interest period and prior to the relevant Interest Payment Date and will notify the Company (if the Company is not the Calculation Agent) of the Benchmark, such interest rate and accrued interest for each interest period as soon as reasonably practicable after such determination, but excluding) in any event by the Business Day immediately prior to the Floating Rate Period Interest Payment Date. At the written request of a Holder of the Notes, the Company the will provide the Benchmark, the interest rate and the amount of interest accrued with respect to any interest period, after the Benchmark, such Business Dayinterest rate and accrued interest have been determined. The Calculation Agent’s determination of any interest rate, and its calculation of interest payments for any Floating Rate Period, will be maintained on file at the Calculation Agent’s principal offices and will be provided in writing to the Trustee.

Floating Rate Period. (i) During the period from (from, and including) March 12, 2030 to (August 2, 2029 to, but excluding) , the Maturity Date or the date of redemption (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 141 213 basis points per annum (the “Spread”)points, as determined in arrears by the Calculation Agent in the manner described herein. In no event will the Such interest payable on the Notes be less than zero. During the Floating Rate Period, interest on the Notes will be payable quarterly quarterly, in arrears arrears, on June 12November 2, 2029, February 2, 2030, September 12, 2030, December 12May 2, 2030 and on at the Maturity Date and any redemption date (each, each a “Floating Rate Period Interest Payment Date”). Such interest will be computed for the period beginning on . (and includingii) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Interest Payment Date or the Maturity Date or date of redemption (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period will begin on (and include) March 12, 2030 and will end on (but exclude) the first Floating Rate Interest Payment Date. 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 Interest Payment Date, except as described below (the “Interest Determination Date”). Interest during the Floating Rate Period 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 Observation Period relating to such Floating Rate Interest Period (or any other relevant period) divided by 360. The interest payable during the Floating Rate Period will be paid to each Holder in whose name a Note is registered at the close of business rate on the fifteenth calendar day Notes will in no event be lower than zero. (whether or not a Business Dayiii) immediately preceding the applicable Floating Rate Interest Payment Date. If any scheduled Floating Rate Period Interest Payment Date (other than the Maturity Date or any redemption dateDate) falls on a day that is not a Business Day, then such Floating Rate Period Interest Payment Date will be postponed to the next succeeding Business Day, except that, if the next succeeding Business Day unless such day falls in the next succeeding calendar month, in which case then such Floating Rate Period Interest Payment Date will be accelerated advanced to the immediately preceding day that is a Business Day, and, in each . If any such caseFloating Rate Period Interest Payment Date (other than the Maturity Date) is postponed or brought forward as described above, the amount payable payment of interest due on such Business Day 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. (iv) The Calculation Agent will determine the Benchmark, the interest rate and accrued interest for each interest period in arrears as soon as reasonably practicable on or after the Floating Interest Payment Determination Date for such interest period and prior to the relevant Interest Payment Date and will notify the Company (if the Company is not the Calculation Agent) of the Benchmark, such interest rate and accrued interest for each interest period as soon as reasonably practicable after such determination, but excluding) in any event by the Business Day immediately prior to the Floating Rate Period Interest Payment Date. At the written request of a Holder of the Notes, the Company the will provide the Benchmark, the interest rate and the amount of interest accrued with respect to any interest period, after the Benchmark, such Business Dayinterest rate and accrued interest have been determined. The Calculation Agent’s determination of any interest rate, and its calculation of interest payments for any Floating Rate Period, will be maintained on file at the Calculation Agent’s principal offices and will be provided in writing to the Trustee.

Floating Rate Period. During (i) In respect of the period from (and including) March 12, 2030 to (but excluding) the Maturity Date or the date of redemption (the “Floating Rate Period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark plus 141 basis points per annum (the “Spread”), as determined in arrears by the Calculation Agent in the manner described herein. In no event will the interest payable Period shown on the Notes be less than zero. During face of such Note, each Hybrid Note bears interest on its Calculation Amount from the first day of the Floating Rate Period, and such interest on the Notes will be payable quarterly in arrears arrear on June 12, 2030, September 12, 2030, December 12, 2030 and on the Maturity Date and any redemption each interest payment date (each, a “Floating Rate Interest Payment Date”). Such interest will be computed for the period beginning on (and including) a Floating Rate Interest Payment Date and ending is/are either shown hereon as Specified Interest Payment Dates or, if no Specified Interest Payment Date(s) is/are shown hereon, Interest Payment Date shall mean each date which (save as mentioned in these Conditions) falls the number of months specified as the Interest Period on the face of the Note (but excludingthe “Specified Number of Months”) after the next succeeding preceding Interest Payment Date or, in the case of the first Interest Payment Date, after the first day of the Floating Rate Period (and which corresponds numerically with such preceding Interest Payment Date or the Maturity Date or date first day of redemption (each, a “Floating Rate Interest Period”); provided that the first Floating Rate Interest Period will begin on (and include) March 12, 2030 and will end on (but exclude) the first Floating Rate Interest Payment Date. 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 Interest Payment Date, except as described below (the “Interest Determination Date”). Interest during the Floating Rate Period will be computed on Period, as the basis of the actual number of days in each Floating Rate Interest 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 divided by 360. The interest payable during the Floating Rate Period will be paid to each Holder in whose name a Note is registered at the close of business on the fifteenth calendar day (whether or not a Business Day) immediately preceding the applicable Floating Rate Interest Payment Datecase may be). If any scheduled Floating Rate Interest Payment Date (other than the Maturity Date or any redemption date) falls referred to in these Conditions that is specified to be subject to adjustment in accordance with a Business Day Convention would otherwise fall on a day that is not a Business Daybusiness day, then such if the Business Day Convention specified is (1) the Floating Rate Interest Payment Date will Business Day Convention, such date shall be postponed to the next succeeding Business Day day which is a business day unless such day falls in it would thereby fall into the next succeeding calendar month, in which case event (i) such Floating Rate Interest Payment Date will date shall be accelerated brought forward to the immediately preceding business day and (ii) each subsequent such date shall be the last business day of the month in which such date would have fallen had it not been subject to adjustment, (2) the Following Business DayDay Convention, andsuch date shall be postponed to the next day that is a business day, (3) the Modified Following Business Day Convention, such date shall be postponed to the next day that is a business day unless it would thereby fall into the next calendar month, in each which event such case, date shall be brought forward to the amount payable on such immediately preceding business day or (4) the Preceding Business Day Convention, such date shall be brought forward to the immediately preceding business day. (ii) The period beginning on the first day of the Floating Rate Period and ending on the first Interest Payment Date and each successive period beginning on an Interest Payment Date and ending on the next succeeding Interest Payment Date is herein called an “Interest Period”. (iii) Where the due date of redemption of any Hybrid Note falls within the Floating Rate Period, interest will include cease to accrue on the Note from the due date for redemption thereof unless, upon due presentation thereof, payment of principal (or Redemption Amount, as the case may be) is improperly withheld or refused, in which event interest accrued will continue to accrue (but excludingas well after as before judgment) such Business Dayat the rate and in the manner provided in this Condition 5(III) and the Agency Agreement to the Relevant Date. (iv) The provisions of Condition 5(II)(b) shall apply to each Hybrid Note during the Floating Rate Period as though references therein to Floating Rate Notes are references to Hybrid Notes.