Discontinuance of Usd Libor. (a) Notwithstanding any provision of this Agreement or any other Loan Document to the contrary, whether or not USD LIBOR is operational, reported, published on a synthetic basis or otherwise available in the market as of the Closing Date, subject to Section 1.06(b): (a) no USD LIBOR Credit Extension shall be available, requested or made hereunder, (b) any request to convert an existing Loan to a USD LIBOR Credit Extension shall be ineffective and (c) any request for a new USD LIBOR Credit Extension, or to continue, renew, extend, reinstate or increase an existing USD LIBOR Credit Extension as a USD LIBOR Credit Extension, shall be ineffective, in each case, to the extent that any such USD LIBOR Credit Extension would reference a setting of USD LIBOR on or after the Closing Date.
(b) The provisions of Section 1.06(a) and the other benchmark replacement conforming changes implemented by this Agreement in respect of the Existing Credit Agreement shall not apply with respect to any USD LIBOR Credit Extension requested, made or outstanding that bears interest with reference to a USD LIBOR rate that (i) is or was set prior to the Closing Date and (ii) is held constant for a specifically designated period and is not reset on a daily or substantially daily basis (disregarding daycount, weekend or holiday conventions), and in such case, the USD LIBOR Related Definitions and provisions with respect thereto (as in effect immediately prior to giving effect to this Agreement on the Closing Date) shall continue in effect solely for such purpose; provided that any such USD LIBOR Credit Extension shall only continue in effect in accordance with its terms until the then-current Interest Period for such USD LIBOR Credit Extension has concluded.
Discontinuance of Usd Libor. Notwithstanding the amendments to the Credit Agreement contained herein, each Eurodollar Advance (as defined in the Credit Agreement as in effect immediately prior to the effectiveness of this Amendment (the “Existing Credit Agreement”)) outstanding under the Credit Agreement as of the effective date of this Amendment (excluding, for the avoidance of doubt, any Advance that bears interest at a rate that is reset on a daily or substantially daily basis (disregarding day-count, weekend or holiday conventions)) (each, a “Surviving Eurodollar Advance”), shall continue to bear interest at the Eurodollar Rate (as defined in the Existing Credit Agreement) plus the Applicable Margin as set forth in the Existing Credit Agreement and, solely with respect to such Surviving Eurodollar Advances, the LIBOR Related Definitions (as defined below) and provisions with respect thereto (as in effect immediately prior to giving effect to this Amendment) shall continue in effect solely for such purpose, and solely until the then-current Interest Period for such Surviving Eurodollar Advance has concluded. For the avoidance of doubt, upon the conclusion of the Interest Period applicable to each such Surviving Eurodollar Advance as of the First Amendment Effective Date, such Surviving Eurodollar Advance may not be continued as a Eurodollar Advance. For purposes of this Amendment, “
Discontinuance of Usd Libor
