Common use of Effect of Benchmark Transition Event Clause in Contracts

Effect of Benchmark Transition Event. (i) Notwithstanding anything to the contrary herein or in any other related loan document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the LIBO Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO Rate with a Benchmark Replacement pursuant to this Section 2.10(e) will occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (ia) Notwithstanding anything to the contrary herein or in any other related loan document, Loan Document. upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace LIBOR and the LIBO LIBOR Index Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO Rate LIBOR with a Benchmark Replacement pursuant to this Section 2.10(e) titled “Effect of Benchmark Transition Event” will occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (ia) Notwithstanding anything to the contrary herein or in any other related loan documentOther Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower Borrowing Agent may amend this Agreement to replace the LIBO LIBOR Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower Borrowing Agent so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO LIBOR Rate with a Benchmark Replacement pursuant to this Section 2.10(e) titled “Effect of Benchmark Transition Event” will occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (ia) Notwithstanding anything to the contrary herein or in any other related loan documentMargin Loan Documentation, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the LIBO Rate LIBOR with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) New York Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required LendersLender. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO Rate LIBOR with a Benchmark Replacement pursuant to this Section 2.10(e) 2.15 will occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (i) Notwithstanding anything to the contrary herein or in any other related loan documentLoan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the LIBO Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) P.M. on the fifth date that is five (5th5) Business Day Days after the date on which the Administrative Agent has shall have posted such proposed amendment to all Lenders and the Borrower Borrower, so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required LendersLenders of each Class. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders of each Class have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. amendment .. No replacement of the LIBO Rate with a Benchmark Replacement pursuant to this Section 2.10(eclause (i) will shall occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (ia) Replacement of LIBOR with a Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other related loan documentMargin Loan Documentation, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower Borrowers may amend this Agreement to replace the LIBO Rate LIBOR with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower Borrowers so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO Rate LIBOR with a Benchmark Replacement pursuant to this Section 2.10(e) 2.18 will occur prior to the applicable Benchmark Transition Start Date.. (b)

Effect of Benchmark Transition Event. (ia) Notwithstanding anything to the contrary herein or in any other related loan documentTransaction Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent Agent, the SPV and the Borrower Originator may amend this Agreement to replace the LIBO Rate and LMIR with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders Managing Agents, the SPV and the Borrower Originator so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Benchmark Replacement Required LendersInvestors. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Benchmark Replacement Required Lenders Investors have delivered to the Administrative Agent written notice that such Benchmark Replacement Required Lenders Investors accept such amendment. No replacement of the LIBO Rate and LMIR with a Benchmark Replacement pursuant to this Section 2.10(e) 11.15 will occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (ia) Notwithstanding anything to the contrary herein or in any other related loan documentLoan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the LIBO Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York time) on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders; provided that, with respect to any proposed amendment containing any SOFR-Based Rate, the Lenders shall be entitled to object only to the Benchmark Replacement Adjustment contained therein. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO Rate with a Benchmark Replacement pursuant to this Section 2.10(e) 2.09 will occur prior to the applicable Benchmark Transition Start Date.

Effect of Benchmark Transition Event. (i) Notwithstanding anything to the contrary herein or in any other related loan documentLoan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Parent Borrower may amend this Agreement to replace the LIBO Rate LIBOR with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (P.M. New York time) City time on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Parent Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the LIBO Rate LIBOR with a Benchmark Replacement pursuant to this Section 2.10(esubsection 4.7(b) will occur prior to the applicable Benchmark Transition Start Date.