Term Tenors. At any time (including in connection with the implementation of a Successor Rate), (a) if the then-current Benchmark is a term rate (including Term SOFR), Administrative Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including any Successor Rate) settings; and (b) Administrative Agent may reinstate any such previously removed tenor for Benchmark (including a Successor Rate) settings.
Appears in 3 contracts
Sources: Loan and Security Agreement (Sunbelt Rentals Holdings, Inc.), Loan and Security Agreement (Sunbelt Rentals Holdings, Inc.), Loan and Security Agreement (Sunbelt Rentals Holdings, Inc.)
Term Tenors. At any time (including in connection with the implementation of a Successor RateBenchmark Replacement), (aA) if the then-current Benchmark is a term rate (including Term SOFRSOFR or the Eurocurrency Base Rate), the Administrative Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including any Successor RateBenchmark Replacement) settings; and (bB) the Administrative Agent may reinstate any such previously removed tenor for Benchmark (including a Successor RateBenchmark Replacement) settings.
Appears in 1 contract
Sources: Abl Credit Agreement (Veritiv Corp)