Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks comprising the Required Banks. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Missouri Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.17(f)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Credit Agreement (Unum Group), Credit Agreement (Unum Group), Credit Agreement (Unum Group)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. p.m., Chicago time, on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a the then-current Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 10.6 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Credit Agreement (CTO Realty Growth, Inc.), Credit Agreement (CTO Realty Growth, Inc.), Credit Agreement (CTO Realty Growth, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the Term SOFR Reference Rate or then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark the Adjusted Term SOFR Rate with a Benchmark Replacement pursuant to this Section 2.11(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Credit Agreement (Trinity Capital Inc.), Credit Agreement (Trinity Capital Inc.), Credit Agreement (Trinity Capital Inc.)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.07(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Credit Agreement (Dick's Sporting Goods, Inc.), Credit Agreement (Dick's Sporting Goods, Inc.), Credit Agreement (Dick's Sporting Goods, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Lead Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Lead Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Credit Agreement (Sportsman's Warehouse Holdings, Inc.), Credit Agreement (Sportsman's Warehouse Holdings, Inc.), Credit Agreement (Sportsman's Warehouse Holdings, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.2(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Credit Agreement (United Homes Group, Inc.), Credit Agreement (United Homes Group, Inc.), Credit Agreement (United Homes Group, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks comprising Lenders holding greater than 50% of the Required Banksaggregate Commitments then in effect. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 12.22 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 3 contracts
Sources: Loan and Security Agreement (Palmer Square Capital BDC Inc.), Loan and Security Agreement (Palmer Square Capital BDC Inc.), Loan and Security Agreement (Palmer Square Capital BDC Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks comprising the Required Banks. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Delayed Draw Term Loan Agreement (Spire Inc), Delayed Draw Term Loan Agreement (Spire Missouri Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers may amend this Credit Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to the Borrowers and all affected Banks and the Borrowers Lenders so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.9(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Revolving Credit Agreement (T Series Middle Market Loan Fund LLC), Revolving Credit Agreement (T Series Middle Market Loan Fund LLC)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.8(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Fourth Amendment and Lender Joinder Agreement (SYNAPTICS Inc), Credit Agreement (SYNAPTICS Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Credit Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.10(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Fortress Private Lending Fund), Revolving Credit Agreement (Fortress Private Lending Fund)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.2(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Term Loan Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(b)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Five Year Master Credit Agreement (Wisconsin Power & Light Co), Five Year Master Credit Agreement (Wisconsin Power & Light Co)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 4.2. will occur prior to the applicable Benchmark Transition Start Date..
Appears in 2 contracts
Sources: Credit Agreement (CubeSmart, L.P.), Credit Agreement (CubeSmart, L.P.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Lead Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Lead Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.25(d)(iii) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Performance Food Group Co), Credit Agreement (Performance Food Group Co)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Banking Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.6(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Golden State Water CO), Credit Agreement (American States Water Co)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative with respect to any Benchmark, Agent and the Borrowers Administrative Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Administrative Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.12(d)(iii) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Birks Group Inc.), Credit Agreement (Birks Group Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.23(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Idaho Power Co), Credit Agreement (Idaho Power Co)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 4:00 p.m. (Local Time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Tuesday Morning Corp/De), Credit Agreement (Tuesday Morning Corp/De)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.06(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (Public Service Co of New Mexico)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.10(g) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Asset Based Loan Credit Agreement (Express, Inc.), Asset Based Loan Credit Agreement (Express, Inc.)
Benchmark Replacement. (i) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of if a Benchmark Transition Event, Event has occurred the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will shall become effective at or after 5:00 p.m. on the fifth (5th) Business Day after the date the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment Benchmark Replacement from Banks Lenders comprising the Required Banks. Requisite Lenders.
(ii) No replacement Derivatives Contracts shall be deemed to be a “Loan Document” for purposes of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) will occur prior to the applicable Benchmark Transition Start Date5.9.
Appears in 2 contracts
Sources: Term Loan Agreement (NETSTREIT Corp.), Term Loan Agreement (NETSTREIT Corp.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a the then-current Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.09(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Purple Innovation, Inc.), Credit Agreement (Purple Innovation, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.18(e)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Bioventus Inc.), Credit and Guaranty Agreement (Bioventus Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Second Amendment to Credit Agreement (ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc.), Credit Agreement (Cerence Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower Representative may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower Representative so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.20(2)(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Loan Agreement (Ulta Beauty, Inc.), Loan Agreement (Ulta Beauty, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Company may amend this Agreement to replace the applicable then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 4:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Company so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Azz Inc), Credit Agreement (Azz Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.05(a)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Ryman Hospitality Properties, Inc.), Credit Agreement (Ryman Hospitality Properties, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the Term SOFR Reference Rate or then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark the Term SOFR Rate with a Benchmark Replacement pursuant to this Section 2.11(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Trinity Capital Inc.), Credit Agreement (Ept 16 LLC)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.2(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (DiamondRock Hospitality Co), First Amendment to Sixth Amended and Restated Credit Agreement (DiamondRock Hospitality Co)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.11(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Amendment to Credit Agreement (Palo Alto Networks Inc), Credit Agreement (Palo Alto Networks Inc)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.07(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Fox Factory Holding Corp), Credit Agreement (Fox Factory Holding Corp)
Benchmark Replacement. (a) Notwithstanding anything to the contrary herein or in any other Transaction Documentherein, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current 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 Banks L▇▇▇▇▇▇ and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 2.15 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Margin Loan Agreement (Endeavor Group Holdings, Inc.), First Amendment Agreement (Endeavor Group Holdings, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Administrative Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Administrative Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 5.16 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Boot Barn Holdings, Inc.), Credit Agreement (Boot Barn Holdings, Inc.)
Benchmark Replacement. (i) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.07(a)(i) will occur prior to the applicable Benchmark Transition Start Date.
(ii) No swap agreement shall constitute a “Loan Document” for purposes of this Section 3.07.
Appears in 2 contracts
Sources: Credit Agreement (Welltower Inc.), Credit Agreement (Welltower Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.2(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 2 contracts
Sources: Credit Agreement (Herc Holdings Inc), Credit Agreement (Herc Holdings Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(a)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower Representative may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks ▇▇▇▇▇▇▇ and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Page 104 Benchmark Replacement pursuant to this Section 2.11(b)(i2.13(a)(iii) will occur prior to the applicable Benchmark Transition Start Date.. Page 105
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower Representative may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower Representative so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.20(2)(b) will occur prior to the applicable Benchmark Transition Start Date..
Appears in 1 contract
Sources: Loan Agreement (Ulta Beauty, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, ,
(A) upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.06(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date; and
(B) [reserved].
Appears in 1 contract
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.12(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Term Loan Credit Agreement (Delek US Holdings, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Company may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Company so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.22(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Senior Secured Super Priority Term Loan Debtor in Possession Credit and Guaranty Agreement
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-then- current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Senior Secured Super Priority Term Loan Debtor in Possession Credit Agreement
Benchmark Replacement. (i) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Banking Day after the Administrative Agent has posted such proposed amendment to all affected Banks and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks comprising the Required Banks. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.02(b)(i) will occur prior to the applicable Benchmark Transition Start Date.;
Appears in 1 contract
Sources: Revolving Credit Agreement (Urban Edge Properties LP)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.11(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.13(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Osi Systems Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.2(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-then- current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.23(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.8(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, Event the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.13(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.12(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: 5 Year Revolving Credit Agreement (NuStar Energy L.P.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.18(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Loan and Security Agreement (Crescent Capital BDC, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.20(a) will occur prior to the applicable Benchmark Transition Start Date.. 28
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Company may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Company so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.17(d)(iii) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.16(B)(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Davita Inc.)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksMajority Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Genesis Energy Lp)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a the then-current Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 2.17 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Bridge Credit Agreement (Vinebrook Homes Trust, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Credit Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.4(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Revolving Credit Agreement (Ares Core Infrastructure Fund)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.06(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Class Lenders of each applicable Class. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(iSection 5.2(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
(B) [Reserved].
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Facility Document, upon the occurrence of a Benchmark Transition Event, the Event Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark Rate with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 2.11 will occur prior to the applicable Benchmark Transition Start Date. No Currency Hedge Agreement shall constitute a Facility Document for purposes of this Section 2.11.
Appears in 1 contract
Sources: Credit and Security Agreement (Saratoga Investment Corp.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Credit Parties may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Credit Parties so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.17(d)(iii) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksMajority Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement Hedge Agreement shall deemed a Loan Document for purposes of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) will occur prior to the applicable Benchmark Transition Start Date4.8.
Appears in 1 contract
Benchmark Replacement. (i) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i) will occur prior to the applicable Benchmark Transition Start Date.; (ii)
Appears in 1 contract
Sources: Term Loan Agreement (Tanger Properties LTD Partnership /Nc/)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i5.10(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and in consultation with the Borrowers Required Lenders may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.15(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.12(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Term Loan Credit Agreement (Par Pacific Holdings, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current 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 Banks L▇▇▇▇▇▇ and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 2.12 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Loan Agreement (Greystone Housing Impact Investors LP)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower Representative so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.05(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (KKR & Co. Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 2.08 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) Exhibit M will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (RLJ Lodging Trust)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.20(d)(iii) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.Date.
Appears in 1 contract
Sources: Revolving Credit Agreement
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.04(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Term Loan Agreement (New ERA Energy & Digital, Inc.)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.14(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date..
Appears in 1 contract
Sources: Credit Agreement (ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc.)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.17(c)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Senior Unsecured Credit Agreement (Choice Hotels International Inc /De)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower Representative may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks ▇▇▇▇▇▇▇ and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i) 2.13 will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Loan and Security Agreement (Natural Alternatives International Inc)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.10(d)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.2(b)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks of the Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.16(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-then- current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.8(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Ugi Corp /Pa/)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i8.21(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Ohio Power Co)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition EventEvent with respect to any Benchmark, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks ▇▇▇▇▇▇▇ and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksRequisite Class Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i4.2(b)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Elme Communities)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Credit Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.15(h)(iii) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Term Loan Credit Agreement (Intercontinental Exchange, Inc.)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.13(c)(i) will occur prior to the applicable Benchmark Transition Start Date.
(B) No Swap Agreement shall be deemed to be a “Loan Document” for purposes of this Section 2.13(c).
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksMajority Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.25(a) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Revolving Credit Agreement (Western Midstream Partners, LP)
Benchmark Replacement. (A) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b)(i)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks the Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(iSubsection 4.7(b) will occur prior to the applicable Benchmark Transition Start Date. If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a quarterly basis.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.03(b) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.11(c)(i) will occur prior to the applicable Benchmark Transition Start Date..
Appears in 1 contract
Benchmark Replacement. (i) Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrowers Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Banking Day after the Administrative Agent has posted such proposed amendment to all affected Banks and the Borrowers Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks comprising the Required Banks. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i3.02(b)(i) will occur prior to the applicable Benchmark Transition Start Date.; (ii)
Appears in 1 contract
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Transaction Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative with respect to any Benchmark, Agent and the Borrowers Administrative Borrower may amend this Agreement to replace the then-current such Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Banks Lenders and the Borrowers Administrative Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Banks Lenders comprising the Required BanksLenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 2.11(b)(i2.12(d)(iii)(A) will occur prior to the applicable Benchmark Transition Start Date.
Appears in 1 contract
Sources: Credit Agreement (Birks Group Inc.)