05-09-2022 FINAL Notice and Agenda Packet

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8 “BSBY Long-Term Spread Adjustment” means the most recently dated “BSBY SOFR 5Y Spread Adjustment” published on the BSBY Website. “BSBY Rate” means, for any Interest Period, a per annum rate of interest equal to (I) the rate per annum equal to the greater of (a) the product obtained by multiplying (i) the BSBY Screen Rate determined as of the first day of such Interest Period with a term equivalent to such Interest Period by (ii) the Statutory Reserve Rate, and (b) the Floor, plus (II) the BSBY Rate Margin, multiplied by, (III) the T/E Factor. “BSBY Rate Calculation Agent” means (i) during the Initial BSBY Rate Mode, the Initial BSBY Rate Bond Purchaser, and (ii) otherwise, a bank, financial institution, investment bank, or other similar expert, appointed for such purpose by the Borrower in connection with the Conversion of the Bonds to the BSBY Mode (who may also be the Remarketing Agent). “BSBY Rate Margin” means (a) during the Initial BSBY Period, 1.75% per annum, and (b) with respect to any subsequent BSBY Rate Period, the amount, expressed as a percentage or number of basis points (and which in each case may be a positive or negative number), determined by the Remarketing Agent, in its sole professional judgment, which, when incorporated into the BSBY Rate, would produce the lowest rate which will permit the Bonds to be sold at par on the first day of the applicable BSBY Rate Period. “BSBY Rate Mode” means the Interest Rate Mode in which the Bonds bear interest at the BSBY Rate. “BSBY Rate Period” means (i) the Initial BSBY Rate Period, and (ii) thereafter while the Bonds are in the BSBY Rate Mode, a period of two or more consecutive Semiannual Periods 1equal to the applicable Nominal BSBY Rate Period determined pursuant to Section 2.13 commencing on the Semiannual Date immediately following the last day of the immediately preceding BSBY Rate Period and continuing to, and including the calendar day immediately preceding the Semiannual Date which follows such commencement date by a period equal to such Nominal BSBY Rate Period; except that the first BSBY Rate Period after Conversion to a BSBY Rate shall commence on the Conversion Date of such Conversion and end on and include the calendar day immediately preceding the Semiannual Date which follows the Semiannual Date occurring on or immediately preceding such Conversion Date by a period equal to such Nominal BSBY Rate Period; provided, however that no BSBY Rate Period shall exceed the maturity date of the Bonds. “BSBY Screen Rate” means, for any day, BSBY as published as of the Reference Time on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by BSBY Rate Calculation Agent from time to time), provided that if the BSBY Screen Rate for any Available Tenor is not published as of the Reference Time and a Benchmark Replacement Date with respect to BSBY has not occurred, then the BSBY Screen Rate for such Available Tenor as of such Reference Time shall be the BSBY Screen Rate as published in respect of the first preceding Government Securities Business Day for which the 1 NTD – period to be confirmed