Common use of Effect of a Benchmark Transition Event Clause in Contracts

Effect of a Benchmark Transition Event. (a) If the Collateral Manager determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Alternative Reference Rate will replace the then-current Benchmark for all purposes relating to the securitization in respect of such determination on such date and all determinations on all subsequent dates.

Effect of a Benchmark Transition Event. (a) If the Collateral Manager determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time 5:00 p.m. (New York time) on each Interest Determination Date in respect of any determination of the Benchmark on any date, the Alternative Reference Rate Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the securitization in respect of such determination on such date and all determinations on all subsequent dates.

Effect of a Benchmark Transition Event. (a) If the Collateral Manager Company or its designee determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Alternative Reference Rate Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the securitization Floating Rate Notes in respect of such determination on such date and all determinations on all subsequent dates.

Effect of a Benchmark Transition Event. (a) If the Collateral Manager determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Alternative Reference Rate Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the securitization in respect of such determination on such date and all determinations on all subsequent dates.

Effect of a Benchmark Transition Event. (a) If the Collateral Manager determines Company or its designee determine on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior with respect to the Reference Time in respect of any determination of then-current Benchmark, the Benchmark on any date, the Alternative Reference Rate Replacement will replace the then-current Benchmark for all purposes relating to the securitization Floating Rate Notes in respect of such determination all determinations on such date and for all determinations on all subsequent dates.

Effect of a Benchmark Transition Event. (a) If the Collateral Manager determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time Reference5:00 p.m. (New York Ttime) on each Interest Determination Date in respect of any determination of the Benchmark on any date, the Alternative Reference Rate Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the securitization in respect of such determination on such date and all determinations on all subsequent dates.

Effect of a Benchmark Transition Event. (a) If the Collateral Manager determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time Reference5:00 p.m. (New York Ttime) on each Interest Determination Date in respect of any determination of the Benchmark on any date, the Alternative Reference Rate RateBenchmark Replacement will replace the then-current Benchmark for all purposes relating to the securitization in respect of such determination on such date and all determinations on all subsequent dates.