SOFR Index Cessation Event definition

SOFR Index Cessation Event means the occurrence of one or more of the following events:
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SOFR Index Cessation Event means the occurrence of one or more of the following events as it relates to Daily SOFR:
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SOFR Index Cessation Event means the occurrence of one or more of the following events: (a) a public statement by the Federal Reserve Bank of New York (or a successor administrator of SOFR) announcing that it has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (b) the publication of information which reasonably confirms that the Federal Reserve Bank of New York (or a successor administrator of SOFR) has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (c) a public statement by a U.S. regulator or U.S. other official sector entity prohibiting the use of SOFR that applies to, but need not be limited to, all swap transactions, including existing swap transactions.
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Examples of SOFR Index Cessation Event in a sentence

  • Notices, etc.The specific terms of any SOFR Index Cessation Event or OBFR Index Cessation Event and any changes to the reference rates determined under this Condition 5(b) will be notified promptly by the Issuer to the Fiscal Agent, the Calculation Agent, the Paying Agents and, in accordance with Condition 15 ( Notices), the Noteholders.

  • For the avoidance of doubt, in no event shall the Calculation Agent be responsible for determining whether any SOFR Index Cessation Effective Date, SOFR Index Cessation Event, OBFR Index Cessation Event, OBFR Index Cessation Effective Date or any adjustments or conforming changes thereto has occurred, or for the Issuer’s decisions and determinations described in this Condition 5.


More Definitions of SOFR Index Cessation Event

SOFR Index Cessation Event means the occurrence of one or more of the following events: (a) a public statement by the Federal Reserve Bank of New York (or a successor administrator of SOFR) announcing that it has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (b) the publication of information which reasonably confirms that the Federal Reserve Bank of New York (or a successor administrator of SOFR) has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (c) a public statement by a U.S. regulator or U.S. other official sector entity prohibiting the use of SOFR that applies to, but need not be limited to, all swap transactions, including existing swap transactions. The determination of the Extended Rate of Interest in accordance with the foregoing provisions shall be made by the Calculation Agent.] [If the interest rate is calculated with reference to a rate other than SONIA or SOFR: (1d) Benchmark Discontinuation. [In the case of Notes with interest rate reset: § 3 (5) (Benchmark Discontinuation) shall apply mutatis mutandis to the determination to the Extended Reference Rate, provided that:
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SOFR Index Cessation Event means the occurrence of either of the following events: (i) a public statement by the Federal Reserve (or a successor administrator of SOFR) announcing that it has ceased to publish or provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to publish or provide the Secured Overnight Financing Rate or (ii) the publication of information that reasonably confirms that the Federal Reserve (or a successor administrator of SOFR) has ceased to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to publish or provide the Secured Overnight Financing Rate.
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SOFR Index Cessation Event. The occurrence of one or more of the following events:
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SOFR Index Cessation Event means the occurrence of one or more of the fol- lowing events:
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Related to SOFR Index Cessation Event

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • SOFR Index Cessation Effective Date means, in relation to a SOFR Index Cessation Event, the date on which the Federal Reserve Bank of New York (or any successor administrator of the daily Secured Overnight Financing Rate) ceases to publish the daily Secured Overnight Financing Rate, or the date as of which the daily Secured Overnight Financing Rate may no longer be used;

  • OBFR Index Cessation Effective Date means, in relation to an OBFR Index Cessation Event, the date on which the Federal Reserve Bank of New York (or any successor administrator of the daily Overnight Bank Funding Rate) ceases to publish the daily Overnight Bank Funding Rate or the date as of which the daily Overnight Bank Funding Rate may no longer be used;

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • Fund Disruption Event means any of the following events, as determined by the Determination Agent in its reasonable discretion:

  • Disruption Event means either or both of: