Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 6 contracts
Sources: Receivables Financing Agreement (Cincinnati Bell Inc), Receivables Financing Agreement (Cincinnati Bell Inc), Receivables Financing Agreement
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on Daily 1M SOFR or the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Daily 1M SOFR or the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 5 contracts
Sources: Receivables Financing Agreement (Sabre Corp), Receivables Financing Agreement (Alliance Laundry Holdings Inc.), Receivables Financing Agreement (ALH Holding Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Base Rate LoansOption. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 5 contracts
Sources: Credit Agreement (EQT Corp), Credit Agreement (Ferguson Enterprises Inc. /DE/), Credit Agreement (EQT Corp)
Benchmark Unavailability Period. Upon the BorrowerCompany’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to Term SOFR Rate, the Borrower Company may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Company will be deemed to have converted any such request into a request for a Base Rate Committed Loan of or conversion to Base Rate Committed Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 4 contracts
Sources: Bridge Facility Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to the Term SOFR Rate, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a the Base Rate Loan of or conversion Option to Base Rate be applicable to such Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 4 contracts
Sources: Credit Agreement (Hallador Energy Co), Credit Agreement (Hallador Energy Co), Credit Agreement (Hallador Energy Co)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to the Term SOFR Rate, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 4 contracts
Sources: Incremental Facility Amendment to Credit Agreement (Cadre Holdings, Inc.), Credit Agreement (Cadre Holdings, Inc.), Credit Agreement (Midamerican Energy Co)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowers may revoke any pending request for a Loan an Advance bearing interest based on the Daily Resetting Term SOFR Rate, or the conversion to or continuation of Loans an Advance bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a an Advance to be computed by reference to the Base Rate Loan of or conversion to Base Rate LoansRate. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 3 contracts
Sources: Receivables Financing Agreement (Herc Holdings Inc), Receivables Financing Agreement (Herc Holdings Inc), Receivables Financing Agreement (Herc Holdings Inc)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing, or any conversion of a borrowing to or continuation of Loans bearing interest based on such Interest Rate a borrowing as a SOFR Borrowing, to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 3 contracts
Sources: Credit and Guaranty Agreement (Moderna, Inc.), Credit and Guaranty Agreement (Artivion, Inc.), Credit and Guaranty Agreement (Artivion, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion conversionConversion to or continuation of Loans bearing interest based on such Interest Rate Eurodollar RateAdjusted Term SOFR Advances to be made, converted convertedConverted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion conversionConversion to Base Rate LoansAdvances. During a anya Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 3 contracts
Sources: Credit Agreement (DTE Electric Co), Five Year Credit Agreement (DTE Electric Co), Credit Agreement (DTE Electric Co)
Benchmark Unavailability Period. Upon the BorrowerCompany’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower (1) Company may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rateborrowing of, conversion to or continuation of SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Company will be deemed to have converted any such request into a request for a Base Rate Loan borrowing of or conversion to Base Rate LoansLoans and (2) any outstanding affected SOFR Loans will be deemed to have been converted to Base Rate Loans at the end of the applicable Interest Period. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 3 contracts
Sources: Financing Agreement (Beam Therapeutics Inc.), Financing Agreement (Blueprint Medicines Corp), Financing Agreement (Apellis Pharmaceuticals, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of Daily Simple SOFR Rate Loans bearing interest based on such Interest or Term SOFR Rate Loans, as applicable, to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Second Amended and Restated Credit Agreement (CTO Realty Growth, Inc.), Credit Agreement (CTO Realty Growth, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to Daily 1M SOFR, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Receivables Financing Agreement (E.W. SCRIPPS Co), Receivables Financing Agreement (Aveanna Healthcare Holdings, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, (i) the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation Borrowing of SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued made during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a Borrowing of Base Rate Loan of or conversion Loans, and (ii) any SOFR Loans shall be converted to Base Rate LoansLoans at the end of the Interest Period applicable thereto. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Credit Agreement (Maxwell W Keith III), Credit Agreement (Via Renewables, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to Daily 1M SOFR or the Term SOFR Rate, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Receivables Financing Agreement (Xperi Inc.), Receivables Financing Agreement (Evoqua Water Technologies Corp.)
Benchmark Unavailability Period. Upon the BorrowerBorrowing Agent’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowing Agent may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowing Agent will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (Construction Partners, Inc.), Term Loan Credit Agreement (Construction Partners, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to the Term SOFR Rate, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Credit Agreement (Lincoln Electric Holdings Inc), Credit Agreement (Lincoln Electric Holdings Inc)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Base Rate LoansOption. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Credit Agreement (Gentex Corp), Credit Agreement and Security Agreement (Paylocity Holding Corp)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, with respect to Daily 1M SOFR or the Term SOFR Rate, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Receivables Financing Agreement (Alliance Resource Partners Lp), Receivables Financing Agreement (Alliance Resource Partners Lp)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing or Adjusted Daily Simple SOFR Borrowing of, conversion to or continuation of Term SOFR Loans bearing interest based on such Interest Rate or Daily Simple SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Term Loan Agreement (Cleco Power LLC), Credit Agreement (Cleco Power LLC)
Benchmark Unavailability Period. Upon the BorrowerSeller’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Seller may revoke any pending request for a Loan bearing interest an Investment accruing Yield based on the Daily Resetting Term SOFR RateUSD LIBOR, conversion to or continuation of Loans bearing interest Investments accruing Yield based on such Interest Rate USD LIBOR to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Seller will be deemed to have converted any such request into a request for a Base Rate Loan an Investment of or conversion to Investments bearing accruing Yield by reference to the Base Rate LoansRate. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Ashland Inc.), Receivables Purchase Agreement (Ashland Global Holdings Inc)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to a given Benchmark, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate LoansLoans in the amount specified therein. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 2 contracts
Sources: First Lien Credit and Guarantee Agreement (Janus International Group, Inc.), First Lien Credit and Guarantee Agreement (Janus International Group, Inc.)
Benchmark Unavailability Period. Upon the Lead Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Lead Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term Eurocurrency RateTerm SOFR RateBorrowing of, conversion to or continuation of Eurocurrency RateTerm SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Lead Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rateimpacted reference rate, conversion to or continuation of Loans bearing interest based on such Interest Rate the impacted reference rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Alternate Base Rate Loansoption. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Integral Ad Science Holding Corp.)
Benchmark Unavailability Period. Upon the BorrowerBorrowerBorrowers’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower BorrowerBorrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateborrowingSOFR Borrowing of, conversion to or continuation of EurodollarSOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower BorrowerBorrowers will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Revolver Loans. During a anya Benchmark Unavailability Period or at any time that a tenor for the then---current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then---current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to Daily 1M SOFR, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark 1750355297 21689858 or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Receivables Financing Agreement (Aveanna Healthcare Holdings, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to a Benchmark for Dollars, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateEurocurrency Rate Borrowing of, conversion to or continuation of Eurocurrency Rate Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, to the extent a component of the Base Rate is based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, such Benchmark or tenor will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, (i) the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Rate Borrowing to be made, converted or continued made during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Borrowing of Alternate Rate Loan Loans and (ii) any outstanding affected SOFR Loans will be deemed to have been converted to Alternate Rate Loans at the end of or conversion to Base Rate Loansthe applicable Interest Period. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Alternate Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Alternate Rate.
Appears in 1 contract
Sources: Credit Agreement (Vesta Real Estate Corporation, S.A.B. De C.V.)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Ratean extension of credit hereunder by way of drawdowns of LIBOR Loans, or conversion to or continuation of LIBOR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a Base Rate Loan an extension of credit hereunder by way of drawdowns of or conversion to Base Rate Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, (i) the Borrower may revoke any pending request for a Borrowing of a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Rate to be made, converted or continued made during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion Borrowing to Base Rate Loans; and (ii) each other outstanding Loan shall, on the last day of the Interest Period applicable to such Loan, be deemed converted to a Base Rate Loan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Telephone & Data Systems Inc /De/)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of ofor the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term EurodollarTerm SOFR RateBorrowing of, conversion to or continuation of EurodollarTerm SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate ABR Loans. During a anya Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the ABRthe Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the ABRthe Alternate Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Medifast Inc)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower (i) Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term borrowing of SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Rate to be made, converted or continued made during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a Base borrowing of Prime Rate Loan Loans and (ii) any outstanding affected SOFR Loans will be deemed to have been converted to Prime Rate Loans at the end of or conversion to Base Rate Loansthe applicable Interest Period. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Prime Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Prime Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to Daily 1M SOFR, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of Option or conversion to a Base Rate LoansOption. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on Daily 1M SOFR or the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Daily 1M SOFR or the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the applicable Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Receivables Financing Agreement (Lamar Media Corp/De)
Benchmark Unavailability Period. Upon the Borrower▇▇▇▇▇▇▇▇’s receipt of notice of the commencement of a Benchmark Unavailability Period, with respect to the Term SOFR Rate, Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Ratesuch rate, or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to the Term SOFR Rate or Daily SOFR, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.Base
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to the Term SOFR Rate or Daily SOFR, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.. 165778087
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower any Borrowerthe Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateAdvance of, conversion to or continuation of Loans bearing interest any Eurodollar-based on such Interest Rate AdvanceTerm SOFR Advances to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for for, an advance of or conversion to, a Base Rate Loan of or conversion to Base Rate LoansAdvanceAdvances. During a anya Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Archaea Energy Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rateimpacted reference rate, conversion to or continuation of Loans bearing interest based on such Interest Rate the impacted reference rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Alternate Base Rate LoansOption. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Integral Ad Science Holding Corp.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term Eurocurrency Rate or SOFR RateBorrowing, as applicable, of, conversion to or continuation of Loans bearing interest based on such Interest Eurocurrency Rate or SOFR Loans, as applicable, to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-then- current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the BorrowerBorrowerBorrowers’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower BorrowerBorrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateUSD LIBOR, conversion to or continuation of BSBY Rate Loans bearing interest based on such Interest Rate USD LIBOR to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower BorrowerBorrowers will be deemed to have converted any such request into a request for a Base Domestic Rate Loan of or conversion to Base Rate LoansLoan. During a anya Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the thesuch then-current Benchmark or such suchthe tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Virco MFG Corporation)
Benchmark Unavailability Period. Upon the Parent Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Parent Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of SOFR Loans bearing interest based on such Interest Rate or Daily SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Parent Borrower will be deemed to have converted any such request for a Borrowing of SOFR Loans or Daily SOFR Loans into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Montrose Environmental Group, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rateimpacted reference rate, conversion to or continuation of Loans bearing interest based on such Interest Rate the impacted reference rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Alternate Base Rate LoansOptionoption. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Integral Ad Science Holding Corp.)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to Daily 1M SOFR, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to a Base Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current 1757322001 19631658 Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Receivables Financing Agreement (Compass Minerals International Inc)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR BSBY Screen Rate, conversion to or continuation of Loans bearing interest based on such Interest the BSBY Screen Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Base Rate LoansOption. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the BorrowerSeller’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Seller may revoke any pending request for a Loan Capital bearing interest Discount based on Daily 1M SOFR or the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans Capital bearing interest Discount based on such Interest Daily 1M SOFR or the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Seller will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate LoansCapital. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Peabody Energy Corp)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Receivables Financing Agreement (Core Natural Resources, Inc.)
Benchmark Unavailability Period. Upon the Parent Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Parent Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateEurocurrency RateSOFR Borrowing of, conversion to or continuation of Eurocurrency RateSOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Parent Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a anya Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the Adjusted Eurocurrency Ratethe then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Maravai Lifesciences Holdings, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to the Term SOFR Rate, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, such rate or conversion to or continuation of Loans bearing interest based on such Interest Rate rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Prime Rate Loan of or conversion to Base a Prime Rate LoansLoan. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Prime Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Prime Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Parent Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Parent Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of Eurocurrency RateSOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Parent Borrower will be deemed to have converted any such request for a Borrowing of Eurocurrency RateSOFR Loans into a request for a Base Rate Loan Borrowing of or conversion to Base Rate Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Credit Agreement (Montrose Environmental Group, Inc.)
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on CDOR or the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract
Sources: Receivables Financing Agreement (Cincinnati Bell Inc)
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rateimpacted reference rate, conversion to or continuation of Loans bearing interest based on such Interest Rate the impacted reference rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest at the Alternate Base Rate LoansRate. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s Borrowers' receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Rate, conversion to or continuation of Loans bearing interest based on such Interest the Term SOFR Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Base Rate LoansOption. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate."
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Borrowers may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of Term SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Borrowers will be deemed to have converted any such request into a request for a Base Rate Loan USActive 61477672.3USActive 61994469.1-65- Borrowing of or conversion to Alternate Base Rate Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on Eurodollar Borrowing of Loans at the Daily Resetting Term SOFR Adjusted LIBO Rate, conversion to or continuation of Eurodollar Eurocurrency Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate ABR Loans. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available TenorTenor , the component of the Base Rate ABR based upon the LIBORthe then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base RateABR.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability PeriodPeriod with respect to a given Benchmark, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of SOFR Loans bearing interest based on such Interest Rate to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate LoansLoans in the amount specified therein. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.. #4848-1207-1386 76
Appears in 1 contract
Sources: First Lien Credit and Guarantee Agreement (Janus International Group, Inc.)
Benchmark Unavailability Period. Upon the BorrowerCompany’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower Company may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR RateBorrowing of, conversion to or continuation of Term SOFR Loans bearing interest based on such Interest Rate or Term SOFR Notes to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower Company will be deemed to have converted any such request into a request for a Base Rate Loan Borrowing of or conversion to Base Rate LoansABR Term Loans or ABR Notes, as applicable. During a any Benchmark Unavailability Period or at any time that a any tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
Appears in 1 contract
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a Loan bearing interest based on the Daily Resetting Term SOFR Ratethen-current Benchmark, conversion to or continuation of Loans bearing interest based on such Interest Rate the then-current Benchmark to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Base Rate Loan of or conversion to Loans bearing interest under the Base Rate LoansOption. During a any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
Appears in 1 contract