Common use of Interest on Floating Rate Notes Clause in Contracts

Interest on Floating Rate Notes. and Reset Notes following Event of Default‌ If the Floating Rate Notes or Reset Notes of any Series become immediately due and repayable under Condition 9, the rate and/or amount of interest payable in respect of them will be calculated at the same intervals as if such Notes had not become due and repayable, the first of which will commence on the expiry of the Interest Period during which the Notes of the relevant Series become so due and repayable in accordance with Condition 9 (with consequential amendments as necessary) except that the rates of interest need not be published.

Appears in 2 contracts

Sources: Trust Deed, Supplemental Trust Deed

Interest on Floating Rate Notes. and Reset Notes following Event of Default‌ If the Floating Rate Notes or Reset Notes of any Series become immediately due and repayable under Condition 98, the rate and/or amount of interest payable in respect of them will be calculated at the same intervals as if such Notes had not become due and repayable, the first of which will commence on the expiry of the Interest Period during which the Notes of the relevant Series become so due and repayable in accordance with Condition 9 8 (with consequential amendments as necessary) except that the rates of interest need not be published.

Appears in 1 contract

Sources: Trust Deed