Benchmark Determination Date means (a) if the Benchmark is LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the date that is two Business Days before the first day of the applicable Accrual Period, (c) if the Benchmark is Compounded SOFR, the date that is five Business Days before the last day of the applicable Accrual Period and (d) if the Benchmark is any other rate, the date determined by the Trust according to Section 2.16 of the Indenture.

Benchmark Determination Date means (a) if the Benchmark is SOFR, the SOFR Determination Date and (b) if the Benchmark is any other rate, the date determined by the Issuer according to Section 3.19(c)(ii) of the Indenture.

Benchmark Determination Date means, (i) for the first Payment Date and the related Interest Accrual Period following the Issuance Date, June 24, 2022, and (ii) for each Payment Date and the related Interest Accrual Period following the first Payment Date, means (1) if the Benchmark is the SOFR Rate, the SOFR Determination Date, and (2) if the Benchmark is not the SOFR Rate, the date determined by the Designated Transaction Representative in accordance with the Benchmark Replacement Conforming Changes for each Payment Date and the related Interest Accrual Period.

Examples of Benchmark Determination Date in a sentence

Notwithstanding the foregoing, if the initial Benchmark Replacement is any rate other than Term SOFR and the Issuer later determines that Term SOFR can be determined, Term SOFR will become the new Unadjusted Benchmark Replacement and will, together with a new Benchmark Replacement Adjustment for Term SOFR, replace the then-current Benchmark on the next Benchmark Determination Date for Term SOFR.
If the Benchmark is any rate other than SOFR, on each Benchmark Determination Date, the Issuer will notify the Servicer and the Indenture Trustee by email of the Benchmark for the related Interest Period.
If the Benchmark is any rate other than LIBOR, on each Benchmark Determination Date, the Issuer will communicate to the Servicer and the Indenture Trustee the Benchmark for the related Accrual Period.
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Notwithstanding the foregoing, if the initial Benchmark Replacement is any rate other than Term SOFR and the Servicer later determines that Term SOFR can be determined, Term SOFR will become the new Unadjusted Benchmark Replacement and will, together with a new Benchmark Replacement Adjustment for Term SOFR, replace the then-current Benchmark on the next Benchmark Determination Date for Term SOFR.

More Definitions of Benchmark Determination Date

Benchmark Determination Date means, with respect to an Interest Period, (i) if the Benchmark is 30-Day Average SOFR, the second U.S. Government Securities Business Day preceding the first day of that Interest Period, and (ii) if the Benchmark is any other rate, the date determined by the Administrator in accordance with Section 7.13(c)(ii) of this Agreement.

Benchmark Determination Date has the meaning set forth in the Sale and Servicing Agreement.

Benchmark Determination Date. With respect to any Interest Accrual Period, (1) if the Benchmark is LIBOR, the second London Banking Day preceding the first day of such Interest Accrual Period and (2) if the Benchmark is not LIBOR, the time determined in the Benchmark Replacement Conforming Changes.

Benchmark Determination Date means, for each Payment Date and the related Interest Accrual Period means (1) if the Benchmark is LIBOR, the second (2nd) London Banking Day prior to the commencement of such Interest Accrual Period, and (2) if the Benchmark is not LIBOR, the date determined by the Designated Transaction Representative in accordance with the Benchmark Replacement Conforming Changes for each Payment Date and the related Interest Accrual Period.

Benchmark Determination Date means (a) if the Benchmark is One-Month LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the date that is two Business Days before the first day of the applicable Interest Period, (c) if the Benchmark is Compounded SOFR, the date that is five Business Days before the last day of the applicable Interest Period and (d) if the Benchmark is any other rate, the date determined by the Issuing Entity according to Section 8.4(c) of this Indenture.

Benchmark Determination Date means (a) if the Benchmark is LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the second Business Day prior to the first day of the applicable Interest Period, (c) if the Benchmark is Compounded SOFR, the fifth Business Day prior to the last day of the applicable Interest Period and (d) if the Benchmark is any other rate, the date determined by the Issuer in accordance with Section 3.1 of the Indenture.

Benchmark Determination Date means (i) for the first Payment Date and the related Interest Accrual Period following the Issuance Date, May 23, 2023, and (ii) for each Payment Date and the related Interest Accrual Period following the first Payment Date, means (1) if the Benchmark is Term SOFR, the SOFR Determination Date and (2) if the Benchmark is not Term SOFR, the date determined by the Designated Transaction Representatives in accordance with the Benchmark Replacement Conforming Changes for each Payment Date and the related Interest Accrual Period.