Benchmark Replacement Provisions Clause Samples

Benchmark Replacement Provisions. Notwithstanding anything to the contrary contained in this Agreement, in the Line of Credit Note or in any related Loan Document (for the purposes of these Benchmark Replacement Provisions, a Swap Agreement is not a Loan Document):

Benchmark Replacement Provisions. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document:

Benchmark Replacement Provisions. (a) Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, with respect to any Benchmark, the Administrative Agent and the Borrower may amend this Agreement to replace such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. (b) In connection with the implementation of any Benchmark Replacement, the Administrative Agent will have the right, in consultation with the Borrower, to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. (c) The Administrative Agent will promptly notify the Borrower and the Lenders of (A) any Benchmark Replacement Date and the related Benchmark Replacement, (B) the effectiveness of any Benchmark Replacement Conforming Changes, (C) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (d) below and (D) the commencement of any Benchmark Unavailability Period. For the avoidance of doubt, any notice required to be delivered by the Administrative Agent as set forth in this Section 2.23 may be provided, at the option of the Administrative Agent (in its sole discretion), in one or more notices and may be delivered together with, or as part of any amendment which implements any Benchmark Replacement or Benchmark Replacement Conforming Changes. Any determination, decision or election that may be made by the Administrative Agent, the Borrower or, if applicable, any Lender (or group of Lenders) pursuant to this Section 2.23, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in i...

Benchmark Replacement Provisions. Notwithstanding anything to the contrary contained in this Agreement or in any related loan document (for the purposes of these Benchmark Replacement Provisions, a swap agreement by and between Borrowers and Lender or its affiliates is not a loan document):

Benchmark Replacement Provisions. As of the Extension Amendment Effective Date, parties signatory hereto consent be bound by the terms and provisions set forth on Annex A attached hereto.

Benchmark Replacement Provisions. If Administrative Agent determines (which determination shall be conclusive absent manifest error) that any of the following has occurred: (i) LIBOR ceases to exist or is no longer available; or (ii) a public announcement is made by the regulatory supervisor for the administrator of LIBOR that LIBOR is no longer representative; or (c) the Early Opt-in Effective Date has occurred (the occurrence of such event shall be referred to as the “Benchmark Replacement Date”) (provided, if the Benchmark Replacement Date has not occurred by June 30, 2023, then the Benchmark Replacement Date will be deemed to occur on June 30, 2023), then commencing on the next Determination Date as provided in the definition of “LIBOR Rate”, the Index Rate hereunder shall be replaced with the first alternative set forth in the order that follows that can be determined by Administrative Agent as of the Benchmark

Benchmark Replacement Provisions. A new Section 2.7 is hereby added to the Loan Agreement to read as follows:

Benchmark Replacement Provisions. The substitute interest rate provisions set forth in Addendum A attached hereto are hereby incorporated herein as though set forth in full. In the event of any inconsistency between the other terms and conditions set forth herein or in any other Loan Document and the terms and conditions set forth in Addendum A, the terms and conditions set forth in Addendum A shall control.” b. The Addendum A attached to this Amendment is hereby added to the Credit Agreement after the Schedules and before the Exhibits which are currently attached to the Credit Agreement.

Benchmark Replacement Provisions. (a) Section 1.1 of the Credit Agreement is hereby amended by adding the following defined terms thereto in appropriate alphabetical order: