Changes to the Interest Rate Calculation Basis. The Parties agree that, notwithstanding any change in market practice that may, at any moment, affect the determination of the LIBOR Interest Rate, the Borrower’s payments shall remain linked to the Bank’s funding. For purposes of obtaining and maintaining such link under such circumstances, the Parties expressly agree that the Calculation Agent, seeking to reflect the Bank’s corresponding funding, shall determine: (i) the occurrence of such changes; and (ii) the alternate base rate applicable to determine the appropriate amount to be paid by the Borrower. The Calculation Agent shall notify the Borrower and the Guarantor of the applicable alternate base rate, if any, with no less than sixty (60) days prior notice. The alternate base rate shall become effective on the expiration of such notice period.
Changes to the Interest Rate Calculation Basis. The Parties agree that the Borrower's payments shall remain linked to the Bank's funding, notwithstanding any change in market practice that may, at any moment, affect the determination of the SOFR Interest Rate or any other applicable Base Interest Rate, and including if the Bank determines that it is no longer able, or it is no longer commercially acceptable for the Bank, to continue to use the SOFR Interest Rate or any other applicable Base Interest Rate, for purposes of its asset and liability management. For purposes of obtaining and maintaining such link under such circumstances, the Parties expressly agree that the Calculation Agent, seeking to reflect the Bank's corresponding funding, 5846/OC-BA shall determine: (i) the occurrence of such changes; and (ii) the alternate base rate applicable to determine the appropriate amount to be paid by the Borrower using the methodology and conventions determined by the Bank, including any applicable spread adjustments and any necessary conforming changes in interest period, interest rate determination date or other technical, administrative or operational changes that the Bank considers are appropriate. The Calculation Agent shall notify the Borrower and the Guarantor, if any, of the applicable alternate base interest rate, with any necessary conforming changes with no less than sixty (60) days prior notice. The alternate base rate and conforming changes shall become effective on the expiration of such notice period.
