Common use of Benchmark Amendments Clause in Contracts

Benchmark Amendments. 9.6.1 If, in the Agent Bank’s opinion, either (i) the use of any benchmark or index specified in the Conditions to calculate any rate of interest and/or (ii) the provisions in Condition 4.1 which provide for fallback arrangements where such benchmark or index materially changes or ceases to be provided are not in compliance with the Benchmark Regulation, the Agent Bank shall not be obliged to perform its duties under the Conditions or this Clause 9 (and shall incur no liability for any inaction) until such time as the Issuer has identified an acceptable replacement benchmark or index and instructed the Agent Bank accordingly.

Benchmark Amendments. 9.6.1 If, in the Agent Bank’s 's opinion, either (i) the use of any benchmark or index specified in the Conditions to calculate any rate of interest and/or (ii) the provisions in Condition 4.1 which provide for fallback arrangements where such benchmark or index materially changes or ceases to be provided are not in compliance with the Benchmark Regulation, the Agent Bank shall not be obliged to perform its duties under the Conditions or this Clause 9 (and shall incur no liability for any inaction) until such time as the Issuer has identified an acceptable replacement benchmark or index and instructed the Agent Bank accordingly.