Common use of Variable Rate Loans Clause in Contracts

Variable Rate Loans. Notwithstanding any other provision of this Credit Support Annex, if on any date (a ''Notice Date''), Party B serves an irrevocable notice pursuant to Clause 4.8 of the Servicing Agreement instructing the Servicer to set the reference rate of the Variable Rate Loans to a rate linked to 3 month LIBOR, from and including the Notice Date the Transaction Notional Amount of each Transaction will be reduced for the purposes of all calculations hereunder including calculations of Exposure, Fitch Credit Support Amount, ▇▇▇▇▇'▇ Credit Support Amount, S&P Credit Support Amount and Credit Support Amount by excluding the portion of the Notional Amount of the Transaction that relates to the Variable Rate Loans. For the purposes of calculating ''VC'' and ''N'' in respect of the Fitch Credit Support Amount, the portion of the Transaction(s) relating to Variable Rate Loans, the GIC Account and Substitution Assets will be disregarded for all purposes.