Calculation Agent Benchmark Determination Sample Clauses

Calculation Agent Benchmark Determination. (a) The Issuer agrees that for so long as the Class A-2-B Notes are Outstanding and the Benchmark is LIBOR, there will be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuer appoints the Trust Collateral Agent as Calculation Agent only for the purposes of determining LIBOR for each Interest Period and the Trust Collateral Agent hereby accepts such appointment. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as Calculation Agent or is removed by the Issuer, the Issuer will promptly appoint as a replacement Calculation Agent a leading bank engaged in transactions in Eurodollar deposits in the international Eurodollar market and not an Affiliate of the Issuer or its Affiliates. The Calculation Agent may not resign without a replacement having been duly appointed.
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Calculation Agent Benchmark Determination. (a) The Issuer agrees that for so long as there is an Outstanding Amount of the Floating Rate Notes and the Benchmark is 30-Day Average SOFR, there shall be an agent appointed to obtain the 30-Day Average SOFR for each Interest Period (the “Calculation Agent”). The Issuer appoints the Indenture Trustee as Calculation Agent for the purposes of (i) obtaining 30-Day Average SOFR from the FRBNY Website, as indicated herein, for each Interest Period, and (ii) providing the same to the Administrator to calculate the interest rate for the Floating Rate Notes as described herein; and the Indenture Trustee hereby accepts such appointment. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as Calculation Agent or is removed by the Issuer, the Issuer shall promptly appoint a replacement Calculation Agent. The Calculation Agent may not resign without a replacement having been duly appointed. The Calculation Agent will obtain 30-Day Average SOFR for each Interest Period by referring to the applicable published source and will provide the same to the Administrator to calculate the interest rate on the Floating Rate Notes.
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Calculation Agent Benchmark Determination. (a) The Issuer agrees that for so long as there is an Outstanding Amount of the Floating Rate Notes and the Benchmark is 30-Day Average SOFR or Term SOFR, there shall be an agent appointed to calculate 30-Day Average SOFR or Term SOFR, as applicable, for each Interest Period (the “Calculation Agent”). The Issuer appoints the Indenture Trustee as Calculation Agent only for the purposes of determining 30-Day Average SOFR or Term SOFR, as the case may be, for each Interest Period and the Indenture Trustee hereby accepts such appointment. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as Calculation Agent or is removed by the Issuer, the Issuer shall promptly appoint a replacement Calculation Agent. The Calculation Agent may not resign without a replacement having been duly appointed. The Calculation Agent will obtain the Benchmark for each Interest Period by referring to the applicable published source and will provide the same to the Administrator to calculate the interest rate on the Floating Rate Notes.
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Calculation Agent Benchmark Determination 
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Related to Calculation Agent Benchmark Determination

  • Calculation Agent The Calculation Agent is Party A.

  • Interest Rates; Benchmark Notification The interest rate on a Loan denominated in dollars may be derived from an interest rate benchmark that may be discontinued or is, or may in the future become, the subject of regulatory reform. Upon the occurrence of a Benchmark Transition Event, Section 2.14(b) provides a mechanism for determining an alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission, performance or any other matter related to any interest rate used in this Agreement, or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, the existing interest rate being replaced or have the same volume or liquidity as did any existing interest rate prior to its discontinuance or unavailability. The Administrative Agent and its affiliates and/or other related entities may engage in transactions that affect the calculation of any interest rate used in this Agreement or any alternative, successor or alternative rate (including any Benchmark Replacement) and/or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain any interest rate used in this Agreement, any component thereof, or rates referenced in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

  • Interest Rate Determination (a) The Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.07(a)(i) or (ii).

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