Common use of Benchmark Determination Clause in Contracts

Benchmark Determination. If the Benchmark is LIBOR, on each Benchmark Determination Date, the Calculation Agent will notify the Servicer and the Issuer by email of the Benchmark for the related Interest Period. If the Benchmark is any rate other than LIBOR, on each Benchmark Determination Date, the Servicer will notify the Trust Collateral Agent by email of the Benchmark for the related Interest Period. All determinations of the Benchmark by the Calculation Agent or the Servicer, as applicable, in the absence of manifest error, will be conclusive and binding on the Noteholders.

Benchmark Determination. If the Benchmark is LIBOR, on each Benchmark Determination Date, the Calculation Agent will notify the Servicer Servicer, the Issuer and the Issuer Administrator by email of the Benchmark for the related Interest Period. If the Benchmark is any rate other than LIBOR, on each Benchmark Determination Date, the Servicer Issuer will notify the Trust Collateral Agent Servicer and the Indenture Trustee by email of the Benchmark for the related Interest Period. All determinations of the Benchmark by the Calculation Agent or the ServicerIssuer, as applicable, in the absence of manifest error, will be conclusive and binding on the Noteholders.