Replacement Benchmark definition

Replacement Benchmark means a benchmark rate which is:

Replacement Benchmark means a benchmark rate that is:

Replacement Benchmark means a benchmark rate which is (in the following order):

Examples of Replacement Benchmark in a sentence

• If the Calculation Agent determines that a Benchmark Fallback Event has occurred, it will give notice of such determination to the Issuer and the other Transaction Counterparties and it will identify a Replacement Benchmark.

• Notwithstanding anything in this Indenture to the contrary, upon the inclusion of such information in the Authority’s Monthly Distribution Date Certificate, this Indenture will be deemed to have been amended to reflect the new Unadjusted Benchmark Replacement, Benchmark Replacement Adjustment and/or Benchmark Replacement Conforming Changes without further compliance with the amendment provisions of Article VIII hereof.

• In selecting a Replacement Benchmark, the Calculation Agent will act in a commercially reasonable manner and it may, but is not obliged to, take into account its internal models and policies, any industry developments and market consensus.

• Such Replacement Benchmark shall be applied in a manner consistent with market practice or, to the extent such market practice is not administratively feasible for the Administrative Agent, in a manner as otherwise reasonably determined by the Administrative Agent; provided that in no event shall such Replacement Benchmark be less than zero for purposes of this Agreement.

• Any Benchmark Replacement, Benchmark Replacement Adjustment and the specific terms of any Benchmark Replacement Conforming Changes determined under this provision will be notified at least 10 business days prior to the relevant Interest Determination Date by the Issuer to the Trustee, the Calculation Agent, the Paying Agents and, promptly thereafter, in accordance with Section 1.5, the Noteholders.

More Definitions of Replacement Benchmark

Replacement Benchmark means, in respect of a Relevant Benchmark, an index, benchmark or other price source that the Calculation Agent determines to be a reasonable alternative for such Relevant Benchmark which would have the effect of substantially preserving the economic effect to the Noteholders (in respect of their holding of the Notes) and the Swap Counterparty (in respect of its position under the Swap Agreement)

Replacement Benchmark means, in respect of a Relevant Benchmark(s),

Replacement Benchmark means a benchmark rate which is: cb. formally designated, nominated or recommended as the replacement for a screen rate used in this Agreement (including XXXXX, FFE, EONIA, SARON, and Overnight Libor Rate) by:

Replacement Benchmark means such index, benchmark or other price source (or component thereof) as is recognised or acknowledged as being industry standard which would previously have referenced the relevant Benchmark (which recognition or acknowledgment may be in the form of a press release, a member announcement, protocol, publication of standard terms or otherwise).

Replacement Benchmark means a benchmark rate which is: (a) formally designated, nominated or recommended as the replacement for the Relevant Rate by:

Replacement Benchmark means a benchmarkrate which is:

Replacement Benchmark means the first of the below alternative possible rate replacements that can be determined as of the Benchmark Replacement Date: