Common use of SOFR Conforming Changes Clause in Contracts

SOFR Conforming Changes. In connection with the use, administration of, or conventions associated with, the Term SOFR Rate or Daily Simple SOFR Rate, the Administrative Agent will have the right to make 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 Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will reasonably promptly notify the Borrower of the effectiveness of any such Benchmark Replacement Conforming Changes.