Common use of Benchmark Transition Event Clause in Contracts

Benchmark Transition Event. Following the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Lease Document on such date as may be determined by the Lessor, without any amendment to this Agreement or any other Lease Document or further action or consent of the Lessee.

Benchmark Transition Event. Following the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Lease Loan Document on such date as may be determined by the LessorBank, without any amendment to to, or further action or consent of any other party to, this Agreement or any other Lease Loan Document or further action or consent of the LesseeBorrower.