Canadian Benchmark Replacement Conforming Changes Sample Clauses
The Canadian Benchmark Replacement Conforming Changes clause defines how necessary adjustments will be made to financial contracts when a benchmark interest rate, such as CDOR, is replaced with a new reference rate. This clause allows the contract administrator or agent to make technical, administrative, or operational changes to the agreement to ensure it continues to function smoothly under the new benchmark, such as updating calculation methods or payment procedures. Its core function is to ensure a seamless transition to a new benchmark rate, minimizing disruption and uncertainty for all parties involved.
Canadian Benchmark Replacement Conforming Changes. In connection with the implementation and administration of a Canadian Benchmark Replacement, the Administrative Agent will have the right to make Canadian Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Canadian Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.
Canadian Benchmark Replacement Conforming Changes. In connection with the implementation and administration of a Canadian Benchmark Replacement, the Administrative Agent will have the right to make (subject to, if applicable, the Borrower’s consultation rights set forth in the definition of “Canadian Benchmark Replacement Conforming Changes”) Canadian Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Credit Document, any amendments implementing such Canadian Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.
Canadian Benchmark Replacement Conforming Changes. In connection with the implementation and administration of a Canadian Benchmark Replacement, the Lenders will have the right to make Canadian Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Financing Document, any amendments implementing such Canadian Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other par-ty to this Agreement.
Canadian Benchmark Replacement Conforming Changes. In connection with the implementation and administration of a Canadian BA Successor RateBenchmark Replacement, the Agent will have the right to make Canadian BA Successor RateBenchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Canadian BA Successor RateBenchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided, that with respect to any such amendment effected, the Agent shall post each such amendment implementing such Canadian BA Successor Rate Conforming Changes to the applicable Borrower and the Lenders reasonably promptly after such amendment becomes effective.
Canadian Benchmark Replacement Conforming Changes. In connection with the implementation, use, adoption and administration of a Canadian Benchmark Replacement, the Agent will have the right to make Conforming Changes (CAD) from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes (CAD) will become effective at 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date such proposed amendment is provided to the Borrower and the Lenders without any action or consent of any other party to this Agreement or any other Loan Document.
Canadian Benchmark Replacement Conforming Changes. With respect to ▇▇▇▇▇, Term ▇▇▇▇▇ or any Canadian Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Business Day”, the definition of “Interest Period”, the definition of “Alternative Currency Daily Rate”, the definition of “Alternative Currency Term Rate”, timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the day basis for calculating interest for an Alternative Currency listed on Schedule 5.3, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Canadian Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Canadian Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides, in consultation with the Borrower (provided that no Default or Event of Default exists) is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).
Canadian Benchmark Replacement Conforming Changes. In connection with the implementation and administration of a Canadian Benchmark Replacement, the Canadian