Common use of Sustainability Adjustments Clause in Contracts

Sustainability Adjustments. (a) Following the date on which Borrower provides a Pricing Certificate in respect of the most recently ended Reference Year, the Applicable Rate shall be adjusted, as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (i) the Sustainability Margin Adjustment shall be determined as of the fifth Business Day following receipt by the Agent of a Pricing Certificate delivered pursuant to Section 1.06(f) based upon the Carbon Intensity and OSHA Incident Amount (Three-Year Average) for the applicable Reference Year set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (ii) each change in the Applicable Rate resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f)).

Sustainability Adjustments. (a) Following the date on which Borrower provides a Pricing Certificate in respect of the most recently ended Reference Year, the Applicable Rate Margin shall be adjusted, as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (i) the Sustainability Margin Adjustment shall be determined as of the fifth Business Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f1.7(f) based upon the Carbon Intensity and OSHA Incident Amount (Three-Year Average) KPI Metric for the applicable Reference Year set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (ii) each change in the Applicable Rate Margin resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f1.7(f)).

Sustainability Adjustments. (a) Following the date on which Borrower provides a Pricing Certificate (together with the applicable Sustainability Metric Auditor Report) in respect of the most recently ended Reference Year, the Applicable Rate Margin shall be adjusted, as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (i) the Sustainability Margin Adjustment shall be determined as of the fifth Business Day first day of the first month immediately following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f1.08(f) based upon the Carbon Intensity KPI 1 (Renewable Energy Procurement) and OSHA Incident Amount KPI 2 (Three-Year AverageGreen Certification) for the applicable Reference Year set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (ii) each change in the Applicable Rate Margin resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery or delivery of a an incomplete Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f1.08(f)).

Sustainability Adjustments. (a) Following the date on which the Borrower provides a Pricing Sustainability Certificate in respect of the most recently ended Reference Year, the Applicable Rate Margin shall be adjusteddecreased (or not decreased), as applicable, pursuant to the Sustainability Margin Rate Adjustment as set forth in such Pricing Sustainability Certificate. For purposes of the foregoing, (iA) the Sustainability Margin Rate Adjustment shall be determined as of the fifth Business Day following receipt by the Administrative Agent of a Pricing Sustainability Certificate delivered pursuant to Section 1.06(f3.11(f) based upon the Carbon Intensity and OSHA Incident Amount (Three-Year Average) for the applicable Reference Year KPI Metrics set forth in such Pricing Sustainability Certificate and the calculations of the Sustainability Margin Adjustment, Rate Adjustment therein (such day, the “Sustainability Pricing Adjustment Date”) and (iiB) each change in the Applicable Rate Margin resulting from a Pricing Sustainability Certificate (or the non-delivery or delivery of an incomplete Pricing Sustainability Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Sustainability Certificate, the last day such Pricing Sustainability Certificate could have been delivered pursuant to the terms of Section 1.06(f3.11(f)).

Sustainability Adjustments. (a) Following the date on which the Borrower provides a Pricing Certificate in respect of the most recently ended Reference Yearfiscal year, the Applicable Rate shall be adjusted, as applicable, decreased (or not decreased) pursuant to the Sustainability Margin Applicable Rate Adjustment Amount as set forth in such Pricing Certificate; provided, that in no event will the Applicable Rate be reduced to less than zero as a result of the Sustainability Applicable Rate Adjustment Amount. For purposes of the foregoing, (i) the Sustainability Margin Applicable Rate Adjustment Amount shall be determined as of the fifth Business Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f7.02(f) based upon the Carbon Intensity and OSHA Incident Amount (Three-Year Average) for the applicable Reference Year KPI Metric set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, Applicable Rate Adjustment Amount therein (such day, the “Sustainability Pricing Adjustment Date”) and (iiB) each change in the Applicable Rate resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f7.02(f)).

Sustainability Adjustments. (a) Following a)Following the date on which Borrower provides a Pricing Certificate (together with the applicable Sustainability Metric Auditor Report) in respect of the most recently ended Reference Year, the Applicable Rate Margin shall be adjusted, as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (i) the Sustainability Margin Adjustment shall be determined as of the fifth Business Day first day of the first month immediately following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f1.08(f) based upon the Carbon Intensity KPI 1 (Renewable Energy Procurement) and OSHA Incident Amount KPI 2 (Three-Year AverageGreen Certification) for the applicable Reference Year set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (ii) each change in the Applicable Rate Margin resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery or delivery of a an incomplete Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f1.08(f)).

Sustainability Adjustments. (a) Following the date on which Borrower provides a Pricing Sustainability Certificate in respect of the most recently ended Reference Yearcalendar year containing the Borrower’s election to apply a Sustainability Adjustment, the Applicable Rate Margin shall be decreased (or not adjusted), as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Sustainability Certificate. For purposes of the foregoing, (i) the Sustainability Margin Adjustment shall be determined effective as of the fifth (5th) Business Day following receipt by the Administrative Agent of a Pricing Sustainability Certificate delivered pursuant to Section 1.06(f2.25(f) based upon the Carbon Intensity and OSHA Incident Sustainability Metrics Adjustment Amount (Three-Year Average) for the applicable Reference Year set forth in such Pricing Sustainability Certificate and the calculations of the Sustainability Margin Adjustment, Adjustment therein (such day, the “Sustainability Pricing Adjustment Date”) and (ii) each change in the Applicable Rate Margin resulting from a Pricing Sustainability Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Sustainability Certificate, the last day such Pricing Sustainability Certificate could have been delivered pursuant to the terms of Section 1.06(f2.25(f)).

Sustainability Adjustments. (a) Following the date on which Borrower provides a Pricing Certificate in respect of the most recently ended Reference Yearcalendar year, the Applicable Rate Margin shall be decreased (or not adjusted), as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (iA) the Sustainability Margin Adjustment shall be determined as of the fifth Business Banking Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f1.07(f) based upon the Carbon Intensity and OSHA Incident Amount (Three-Year Average) for the applicable Reference Year KPI Metric set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (iiB) each change in the Applicable Rate Margin resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f1.07(f)).

Sustainability Adjustments. (a) Following the date on which the Borrower provides a Pricing Certificate in respect of the most recently ended Reference Yearcalendar year (beginning with the delivery of a Pricing Certificate for the calendar year 2022), the Applicable Base Rate Margin and SOFR Margin shall be adjustedincreased or decreased (or neither increased nor decreased), as applicable, pursuant to the Sustainability Margin Rate Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (iA) the Sustainability Margin Rate Adjustment shall be determined applied as of the fifth Business Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f5.1(j) based upon the Carbon Intensity KPI Metrics and OSHA Incident Amount (Three-Year Average) for performance of the applicable Reference Year Sustainability Performance Targets set forth in such Pricing Certificate and the calculations of the Sustainability Margin Rate Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (iiB) each change in the Applicable Base Rate Margin and the SOFR Margin resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f5.1(j)).

Sustainability Adjustments. (a) Following the date on which Borrower provides a Pricing Certificate in respect of the most recently ended Reference Yearcalendar year, the Applicable Rate Margin shall be decreased (or not adjusted), as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (iA) the Sustainability Margin Adjustment shall be determined as of the fifth Business Banking Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.06(f1.08(f) based upon the Carbon Intensity and OSHA Incident Amount (Three-Year Average) for the applicable Reference Year KPI Metric set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment, therein (such day, the “Sustainability Pricing Adjustment Date”) and (iiB) each change in the Applicable Rate Margin resulting from a Pricing Certificate (or the non-delivery or delivery of an incomplete Pricing Certificate) shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.06(f1.08(f)).