Common use of Determination of the Benchmark Clause in Contracts

Determination of the Benchmark. The Benchmark shall be determined by Citibank, N.A., London Branch as calculation agent (the Calculation Agent). The Benchmark means, initially, Compounded SOFR; provided that if a Benchmark Transition Event and related Benchmark Replacement Date have occurred with respect to SOFR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.