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 Term SOFR or a benchmark rate which is:

Replacement Benchmark means a benchmark rate which is in relation to MPR:

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 benchmark rate which is: a) formally designated, nominated or recommended as the replacement for a Screen Rate by: (i) the administrator of that Screen Rate (provided that the market or economic reality that such benchmark rate measures is the same as that measured by that Screen Rate); or (ii) any Relevant Nominating Body, and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the "Replacement Benchmark" will be the replacement under paragraph (ii) above; b) in the opinion of the Majority Lenders and the Obligors, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to a Screen Rate; or c) in the opinion of the Majority Lenders and the Obligors, an appropriate successor to a Screen Rate. 36 CONFIDENTIAL INFORMATION 36.1 Confidentiality Each Finance Party agrees to keep all Confidential Information confidential and not to disclose it to anyone, save to the extent permitted by Clause 36.2 (Disclosure of Confidential Information), and to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own confidential information. 36.2

Replacement Benchmark means a benchmarkrate which is: