Screen Rate Determination. Where Screen Rate Determination is specified in the applicable Pricing Supplement, the rate of interest (the "Rate of Interest") payable from time to time in respect of the relevant Tranche of Floating Rate Notes denominated in any currency (the "Specified Currency") (other than Euro, which will be determined in accordance with the provisions of Condition 6(c)) will be determined on the basis of the following provisions: (a) The Rate of Interest for each Interest Period shall, subject as provided below, be: (1) the rate, or (2) if at least two rates appear, the arithmetic mean (rounded, if necessary, to the nearest fourth decimal place (0.00005 being rounded upwards)) of the offered rates, for deposits in the Specified Currency for a period equal to the Interest Period that appears or appear, as the case may be, on the appropriate page of the screen (as defined below) as at 11:00 a. m., London time, on the relevant Interest Determination Date (as defined below) plus or minus (as appropriate) the Margin, if any, as determined by the Trustee. (b) If, on any Interest Determination Date, no such offered rate appears, or, in the case of a screen that normally displays at least two rates for any relevant period, fewer than two of such offered rates appear at such time or if the offered rate or rates which appears or appear, as the case may be, as at such time do not apply to a period equal to the relevant Interest Period, the Rate of Interest for such Interest Period shall, subject as provided below, be the arithmetic mean (rounded, if necessary, to the nearest fourth decimal place (0.00005 being rounded upwards)) of the rates at which the Trustee is advised by all Reference Banks (as defined below) that deposits in the Specified Currency for a period equal to such Interest Period are offered by the Reference Banks to leading banks in the London interbank market as at 11:00 a.m., London time on the Interest Determination Date plus or minus (as appropriate) the Margin, if any, all as determined by the Trustee. (c) If on any such Interest Determination Date to which subparagraph (B) above applies, two or three of the Reference Banks advise the Trustee of such rates, the Rate of Interest for the next Interest Period shall, subject as provided below, be determined as in subparagraph (B) above on the basis of the rates of those Reference Banks advising such rates. (d) If on any such Interest Determination Date to which subparagraph (B) above applies only one or none of the Reference Banks advises the Trustee of such rates, the Rate of Interest for the next Interest Period shall, subject as provided below, be the Reserve Interest Rate. The "Reserve Interest Rate" shall be the rate per annum that the Trustee determines to be either (x) the arithmetic mean (rounded, if necessary, to the nearest fourth decimal place (0.00005 being rounded upwards)) of the lending rates for the Specified Currency that banks selected by the Trustee in the principal financial center of the country of the Specified Currency are quoting on the relevant Interest Determination Date for the next Interest Period to the Reference Banks or those of them (being at least two in number) to which such quotations are, in the opinion of the Trustee, being so made plus or minus (as appropriate) the Margin, if any, or (y) in the event that the Trustee can determine no such arithmetic mean, the lowest lending rate for the Specified Currency that banks selected by the Trustee in the principal financial center of the country of the Specified Currency are quoting on such Interest Determination Date to leading European banks for the next Interest Period plus or minus (as appropriate) the Margin, if any; provided that if the banks selected as aforesaid by the Trustee are not quoting as mentioned above, the Rate of Interest shall be the Rate of Interest in effect for the last preceding Interest Period to which subparagraphs (A), (B) and (C) above shall have applied (minus or plus (as appropriate), where a different Margin is to be applied to the next Interest Period from that which applied to the last preceding Interest Period, the Margin relating to that last preceding Interest Period, the Margin relating to that last preceding Interest Period, plus or minus (as appropriate) the Margin for the next Interest Period). (1) The expression "the appropriate page of the screen" means such page, whatever its designation, on which London interbank offered rates or, if there is only one such rate, that rate for deposits in the Specified Currency offered by prime banks that are for the time being displayed on the Reuters Monitor Money Rates Services or the appropriate Dow ▇▇▇▇▇ Telerate Monitor as specified in the applicable Pricing Supplement. (2) Unless otherwise specified in the applicable Pricing Supplement, the expression "the Interest Determination Date" means the second Business Day prior to the commencement of the relevant Interest Period.
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Sources: Indenture (Banco Rio De La Plata)
Screen Rate Determination. Where Screen Rate Determination is specified in the applicable Pricing Supplementpricing supplement, the rate of interest (the "Rate of Interest") payable from time to time in respect of the relevant Tranche of Floating Rate Notes denominated in any currency (the "Specified Currency") (other than Euro, which will be determined in accordance with the provisions of Condition 6(c)) will be determined on the basis of the following provisions:
(aA) The Rate of Interest for each Interest Period shall, subject as provided below, be:
(1) the rate, or
(2) if at least two rates appear, the arithmetic mean (rounded, if necessary, to the nearest fourth decimal place (0.00005 being rounded upwards)) of the offered rates, for deposits in the Specified Currency for a period equal to the Interest Period that appears or appear, as the case may be, on the appropriate page of the screen (as defined belowdefined) as at 11:00
a. m., 11:00 a.m. London time, in the case of LIBOR, or 11:00 a.m. Brussels time, in the case of EURIBOR, on the relevant Interest Determination Date (as defined belowdefined) plus or minus (as appropriate) the Margin, if any, all as determined by the TrusteeFiscal Agent.
(bB) If, on any Interest Determination Date, no such offered rate appears, or, in the case of a screen that normally displays at least two rates for any relevant period, fewer than two of such offered rates appear at such time or if the offered rate or rates which appears or appear, as the case may be, as at such time do not apply to a period equal to the relevant Interest Period, the Rate of Interest for such Interest Period shall, subject as provided below, be the arithmetic mean (rounded, if necessary, to the nearest fourth decimal place (0.00005 being rounded upwards)) of the rates at which the Trustee is advised by all Reference Banks (as defined below) that for deposits in the Specified Currency for a period equal to such Interest Period are offered by of which the Fiscal Agent is advised by, if the Reference Banks to leading banks in Rate is LIBOR, the London interbank market offices or, if the Reference Rate is EURIBOR, the principal Euro-zone (as defined below) offices, of all Reference Banks (as defined herein), if the Reference Rate is LIBOR, as at 11:00 a.m.a.m. London time, London time or, if the Reference Rate is EURIBOR, as at 11:00 a.m. Brussels time, on the Interest Determination Date plus or minus (as appropriate) the Margin, if any, all as determined by the TrusteeFiscal Agent.
(cC) If on any such Interest Determination Date to which subparagraph (B) above applies, two or three of the Reference Banks advise the Trustee Fiscal Agent of such rates, the Rate of Interest for the next Interest Period shall, subject as provided below, be determined as in subparagraph (B) above on the basis of the rates of those Reference Banks advising such rates.
(dD) If on any such Interest Determination Date to which subparagraph (B) above applies only one or none of the Reference Banks advises the Trustee Fiscal Agent of such rates, the Rate of Interest for the next Interest Period shall, subject as provided below, be the Reserve Interest Rate. The "Reserve Interest Rate" shall be the rate per annum that the Trustee Fiscal Agent determines to be either (x) the arithmetic mean (rounded, if necessary, to the nearest fourth decimal place (0.00005 being rounded upwards)) of the lending rates for the Specified Currency that banks selected by the Trustee Fiscal Agent in the principal financial center of the country of the Specified Currency or, in the case of Notes payable in euros, in the Euro-zone, are quoting on the relevant Interest Determination Date for the next Interest Period to the Reference Banks or those of them (being at least two in number) to which such quotations are, in the opinion of the TrusteeFiscal Agent, being so made plus or minus (as appropriate) the Margin, if any, or (y) in the event that the Trustee Fiscal Agent can determine no such arithmetic mean, the lowest lending rate for the Specified Currency that banks selected by the Trustee Fiscal Agent in the principal financial center of the country of the Specified Currency or, in the case of Notes payable in euros, in the Euro-zone, are quoting on such Interest Determination Date to leading European banks for the next Interest Period plus or minus (as appropriate) the Margin, if any; provided that if the banks selected as aforesaid by the Trustee Fiscal Agent are not quoting as mentioned above, the Rate of Interest shall be the Rate of Interest in effect for the last preceding Interest Period to which subparagraphs (A), (B) and (C) above shall have applied (minus or plus (as appropriate), where a different Margin is to be applied to the next Interest Period from that which applied to the last preceding Interest Period, the Margin relating to that last preceding Interest Period, the Margin relating to that last preceding Interest Period, plus or minus (as appropriate) the Margin for the next Interest Period).
(1) The expression "the appropriate page of the screen" means such page, whatever its designation, on which if the Reference Rate is LIBOR, London interbank offered rates or, if there the Reference Rate is only one such rateEURIBOR, that rate the Euro-zone interbank offered rates, in each case for deposits in the Specified Currency offered by prime banks that are for the time being displayed on the Reuters Monitor Money Rates Services Service or the appropriate Dow ▇▇▇▇▇ Telerate Monitor Telerate, or any successor service or such other service, as specified in the applicable Pricing Supplementpricing supplement.
(2) Unless otherwise specified in the applicable Pricing Supplementpricing supplement, the expression "the Interest Determination Date" means (x) other than in the case of Condition 5(b)(ii)(D), with respect to Notes denominated in any Specified Currency other than English pound sterling, the second Business Banking Day in London prior to the commencement of the relevant Interest Period and, in the case of Condition 5(b)(ii)(D), the second Banking Day in the principal financial center of the country of the Specified Currency prior to the commencement of the relevant Interest Period and (y) with respect to Notes denominated in English pound sterling, the first Banking Day in London of the relevant Interest Period.
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