Examples of Benchmark Unavailability Period in a sentence
The Agent will notify the Borrowers of (A) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 12.2(d) and (B) the commencement of any Benchmark Unavailability Period.
During any Benchmark Unavailability Period for any then-current Benchmark or at any time that a tenor for any then-current Benchmark is not an Available Tenor, the component of the U.S. Base Rate or the Canadian Prime Rate, as applicable, based upon such Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the U.S. Base Rate or the Canadian Prime Rate, as applicable.
During a Benchmark Unavailability Period, the Benchmark shall be, in the case of Taxable Series B Notes, the Prime Rate (as defined in the Purchase Agreement) and in the case of Tax-Exempt Series B Notes, the product of (i) the Prime Rate and (ii) eighty percent (80%).
Upon the commencement of a Benchmark Unavailability Period, the County may revoke any pending request for a purchase hereunder.