Benchmark Transition Matters Sample Clauses

Benchmark Transition Matters. (a) Notwithstanding anything to the contrary contained herein or in any other Loan Documents, all Eurocurrency Loans (as defined in the Existing Credit Agreement) denominated in U.S. Dollars that are outstanding or have been requested under the Existing Credit Agreement as of the Amendment Effective Date (collectively, the “Existing LIBOR Loans”) shall continue to bear interest at a rate per annum equal to the sum of (i) the LIBOR Rate (as defined in the Existing Credit Agreement) applicable for such existing Interest Period (as defined in the Existing Credit Agreement) (the “Existing Interest Period”) plus (ii) the Applicable Margin applicable to such Existing LIBOR Loan immediately prior to giving effect to this Amendment until the last day of Existing Interest Period. Thereafter, all such Existing Loans shall be converted to SOFR Loans in accordance with the Credit Agreement; provided that in no event shall an Existing Loan be permitted to be continued as a Eurocurrency Loan after the termination or expiration of the Existing Interest Period. (b) Subject to any express limitations set forth in the immediately preceding clause (a), the terms of the Existing Credit Agreement in respect of the administration of Eurocurrency Loans (solely with respect to the Existing LIBOR Loans) shall remain in effect from and after the Amendment Effective Date until the last day of the applicable Existing Interest Period, in each case, solely for purposes of administering the Existing LIBOR Loans (including, without limitation, with respect to the payment of interest accrued thereon, determination of breakage fees and other related subject matter set forth in the Existing Credit Agreement).