LIBORTerm SOFR Notification Sample Clauses
The LIBORTerm SOFR Notification clause establishes the process by which parties are informed of the transition from LIBOR to the Term SOFR (Secured Overnight Financing Rate) as a benchmark interest rate. This clause typically outlines the method and timing of notification, specifying how and when the change will be communicated to all relevant parties, and may include details about the effective date of the new rate or any adjustments to contractual terms. Its core practical function is to ensure all parties are aware of and prepared for the benchmark rate transition, thereby reducing confusion and mitigating the risk of disputes related to interest calculations.
LIBORTerm SOFR Notification. Section 3.8.2. of this Agreement provides a mechanism for determining an alternate rate of interest in the event that the London interbank offered rateTerm SOFR Rate is no longer available or in certain other circumstances. The Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBORTerm SOFR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.
LIBORTerm SOFR Notification. The interest rate on EurodollarTerm SOFR Borrowings and Daily EurodollarTerm SOFR Loans is determined by reference to the LIBOAdjusted Term SOFR Screen Rate and Adjusted Daily Eurodollar BaseTerm SOFR Screen Rate, respectively, which isare derived from LIBORTerm SOFR. Section 2.11(b) provides a mechanism for (a) determining an alternative rate of interest if LIBORTerm SOFR is no longer available or in the other circumstances set forth in Section 2.11(b), and (b) modifying this Agreement to give effect to such alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to LIBORTerm SOFR or other rates in the definition of LIBOTerm SOFR Screen Rate and Daily Eurodollar BaseTerm SOFR Rate, as applicable, or with respect to any alternative or successor rate thereto, or replacement rate thereof (including any Benchmark Replacement), including without limitation, whether any such alternative, successor or replacement reference rate (including any Benchmark Replacement), as it may or may not be adjusted pursuant to Section 2.113.3(b), will have the same value as, or be economically equivalent to, the LIBO Rate or Daily Eurodollar Base Rate, as applicable.
LIBORTerm SOFR Notification. Section 4.6 [Successor LIBOR Rate Index4.4.4 [Benchmark Replacement Setting] of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rateTerm SOFR Rate is no longer available or in certain other circumstances. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBORTerm SOFR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.
LIBORTerm SOFR Notification. The interest rate on Eurodollar RateTerm SOFR Loans is determined by reference to the EurodollarTerm SOFR Base Rate, which is derived from LIBORTerm SOFR. Section 3.03(b) provides a mechanism for (a) determining an alternative rate of interest if LIBORTerm SOFR is no longer available or in the other circumstances set forth in Section 3.03(b), and (b) modifying this Agreement to give effect to such alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to LIBORTerm SOFR or other rates in the definition of EurodollarTerm SOFR Base Rate or with respect to any alternative or successor rate thereto, or replacement rate thereof (including any Benchmark Replacement), including without limitation, whether any such alternative, successor or replacement reference rate (including any Benchmark Replacement), as it may or may not be adjusted pursuant to Section 3.03(b), will have the same value as, or be economically equivalent to, the Eurodollar Base Rate.