Role of Calculation Agent Sample Clauses

The 'Role of Calculation Agent' clause defines the responsibilities and authority of the party designated to make determinations, calculations, or adjustments under the agreement. Typically, this agent may be tasked with calculating payment amounts, determining market values, or resolving ambiguities in contract terms, often using specified methodologies or market data. By clearly assigning these duties, the clause ensures that complex or technical calculations are handled consistently and impartially, reducing the risk of disputes and providing clarity for both parties.
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Role of Calculation Agent. (a) As of each Purchase Date, the Calculation Agent shall (i) calculate the Unsold PSL Percentage, the Sold PSL Percentage, the Authority Distribution Percentage and the Trust Distribution Percentage and (ii) confirm the requested amount of requested Processing Costs and Chargebacks, in accordance with the Calculation Agency Agreement, all as evidenced by a written instruction from the Calculation Agent in the form of Exhibit B, confirmed by the Authority and the Trust. (b) The Calculation Agent shall monitor the Authority Distribution Percentage and on any date in which such Authority Distribution Percentage changes, including on any Purchase Date, shall complete and deliver a Calculation Agent Certificate in the form of Exhibit C in accordance with Section 3.4(a) of this Agreement. Except as set out in clauses (i) and (ii) below, as of any date, the Authority Distribution Percentage shall be the Unsold PSL Percentage. (i) On any date on which the cumulative amount of PSL Revenues actually collected and transferred to the Trust PSL-Sourced Proceeds Account through such date (including, on a Purchase Date, the amount transferred thereon in accordance with Section 3.1(b)) divided by the aggregate amount of PSL Revenues actually collected into the Clearing Account is less than the Sold PSL Percentage, the Authority Distribution Percentage shall be zero percent (0%) until the amount of such shortfall has been transferred to the Trust. (ii) In the event of any Insufficiency Event after the Release Date, Chargebacks and, to the extent that such Insufficiency Event occurs prior to the PSL Cost and Expense Reserve Trigger Date and such Insufficiency Event is caused in whole or in part by Processing Costs, Processing Costs, in each case shall be funded with amounts on deposit in the Authority PSL-Sourced Proceeds Account and, therefore, the Authority Distribution Percentage shall be adjusted as follows: (A) if immediately prior thereto the Authority Distribution Percentage was zero percent (0%), the Authority Distribution Percentage shall continue to be zero percent (0%) until the amount of any distribution shortfall to the Trust has been satisfied (recalculated by the Calculation Agent taking into account the Sold PSL Percentage of any Chargebacks) and thereafter shall be one hundred percent (100%) until the amount withdrawn from Authority PSL-Sourced Proceeds Account has been replaced (adjusted by the Unsold PSL Percentage of any Chargebacks) and thereafter shal...
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Role of Calculation Agent. The Calculation Agent in its sole discretion will make all determinations relating to the Credit Linked Notes. Absent manifest error, all determinations of the Calculation Agent will be final and binding on the Issuer and the Noteholders, without any liability on the part of the Calculation Agent.
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Role of Calculation Agent. The Calculation Agent will make all determinations regarding the reference rate, the amount payable on your Notes, and any other required determinations. Absent manifest error, all determinations of the Calculation Agent will be final and binding on you and us, without any liability on the part of the Calculation Agent. Unless otherwise specified in the applicable Supplement, the Bank or one of its affiliates will be the Calculation Agent. We may change the Calculation Agent for your Notes at any time in our discretion without notice and the Calculation Agent may resign as Calculation Agent at any time upon 60 days’ written notice to the Bank.
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Role of Calculation Agent 
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Related to Role of Calculation Agent

  • DUTIES OF CALCULATION AGENT The Calculation Agent shall perform the duties expressed to be performed by it in the Conditions in respect of each Series of Notes in respect of which it is appointed as Calculation Agent. As soon as practicable after the relevant time on each Interest Determination Date or such time on such date as the Conditions may require to be calculated any rate or amount, any quotation to be obtained or any determination or calculation to be made by the Calculation Agent, the Calculation Agent shall determine such rate and calculate the Interest Amounts in respect of each denomination of the Notes for the relevant Interest Accrual Period, Interest Period or Interest Payment Date, calculate the Redemption Amount or Instalment Amount, obtain such quotation and/or make such determination or calculation, as the case may be, and cause the Rate of Interest and the Interest Amounts for each Interest Accrual Period, Interest Period or Interest Payment Date and, if required, the relevant Interest Payment Date and, if required to be calculated, any Redemption Amount or Instalment Amount to be notified to any other Calculation Agent appointed in respect of the Notes that is to make a further calculation upon receipt of such information, the Issuing and Principal Paying Agent, the Issuer, each of the Paying Agents, the relevant Noteholders and, if the relevant Notes are to be listed on a stock exchange and the rules of such exchange so require, such exchange as soon as possible after their determination but in no event later than (i) the commencement of the relevant Interest Period, if determined prior to such time, in the case of notification to such exchange of an Rate of Interest and Interest Amount, or (ii) in all other cases, the fourth Business Day after such determination. If the Calculation Agent at any material time does not make any determination or calculation or take any action that it is required to do pursuant to the Conditions, it shall forthwith notify the Issuer, the Guarantor, the Trustee and the Issuing and Principal Paying Agent.

  • Calculation Agent The Calculation Agent is Party A.

  • Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes The Trustee, any Paying Agent, any Conversion Agent, Bid Solicitation Agent (if other than the Company or any Affiliate thereof) or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent, Bid Solicitation Agent or Note Registrar.

  • The Auction Agent as Paying Agent 3.1. The Paying Agent. ---------------- The Board of Directors of the Company has adopted a resolution appointing IBJ ▇▇▇▇▇▇▇▇ Bank & Trust Company as transfer agent, registrar, dividend disbursing agent and redemption agent for the Company in connection with any shares of AMPS (in such capacity, the "Paying Agent"). The Paying Agent hereby accepts such appointment and agrees to act in accordance with its standard procedures and the provisions of the Articles Supplementary which are specified herein with respect to the shares of AMPS and as set forth in this Section 3.

  • APPOINTMENT OF THE CALCULATION AGENT The Calculation Agent is appointed, and the Calculation Agent agrees to act, as Calculation Agent in respect of each Series of Notes described in the Schedule (the Relevant Notes) for the purposes set out in clause 2 and on the terms of this Agreement. The agreement of the parties that this Agreement is to apply to each Series of Relevant Notes shall be evidenced by the manuscript annotation and signature in counterpart of the Schedule.