Common use of Dollar Denominated Successor Rate Clause in Contracts

Dollar Denominated Successor Rate. Notwithstanding anything to the contrary herein, (i) after any such determination by the Administrative Agent or receipt by the Administrative Agent of any such notice described under Section 3.03(c)(i)-(iii), as applicable, if the Administrative Agent determines that the Term SOFR Successor Rate is not available on or prior to the Term SOFR Replacement Date, (ii) if the events or circumstances described in Section 3.03(c)(iv) have occurred but the Term SOFR Successor Rate is not available, or (iii) if the events or circumstances of the type described in Section 3.03(c)(i)-(iii) have occurred with respect to the Term SOFR Successor Rate then in effect and the Administrative Agent determines that none of the Term SOFR Successor Rates is available, then in each case, the Administrative Agent and the Company may amend this Agreement solely for the purpose of replacing Term SOFR or any then current Term SOFR Successor Rate in accordance with this Section 3.03 at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks and, in each case, including any Related Adjustments and other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubt, any such proposed rate and adjustments shall constitute a Term SOFR Successor Rate. Any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Company unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders object to such amendment.

Dollar Denominated Successor Rate. Notwithstanding anything to the contrary herein, (i) after any such determination by the Administrative Agent or receipt by the Administrative Agent of any such notice described under Section 3.03(c)(i)-(iii3.03(b)(i)-(iii), as applicable, if the Administrative Agent determines that none of the Term SOFR LIBOR Successor Rate Rates is not available on or prior to the Term SOFR LIBOR Replacement Date, (ii) if the events or circumstances described in Section 3.03(c)(iv3.03(b)(iv) have occurred but none of the Term SOFR LIBOR Successor Rate Rates is not available, or (iii) if the events or circumstances of the type described in Section 3.03(c)(i)-(iii3.03(b)(i)-(iii) have occurred with respect to the Term SOFR LIBOR Successor Rate then in effect and the Administrative Agent determines that none of the Term SOFR LIBOR Successor Rates is available, then in each case, the Administrative Agent and the Company Borrower may amend this Agreement solely for the purpose of replacing Term SOFR LIBOR or any then current Term SOFR LIBOR Successor Rate in accordance with this Section 3.03 at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks and, in each case, including any Related Adjustments and any other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubt, any such proposed rate and adjustments shall constitute a Term SOFR LIBOR Successor Rate. Any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Company Borrower unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders object to such amendment.

Dollar Denominated Successor Rate. Notwithstanding anything to the contrary herein, (i) after any such determination by the Administrative Agent or receipt by the Administrative Agent of any such notice described under Section 3.03(c)(i)-(iii), as applicable, if the Administrative Agent determines that none of the Term SOFR LIBOR Successor Rate Rates is not available on or prior to the Term SOFR LIBOR Replacement Date, (ii) if the events or circumstances described in Section 3.03(c)(iv) have occurred but none of the Term SOFR LIBOR Successor Rate Rates is not available, or (iii) if the events or circumstances of the type described in Section 3.03(c)(i)-(iii) have occurred with respect to the Term SOFR LIBOR Successor Rate then in effect and the Administrative Agent determines that none of the Term SOFR LIBOR Successor Rates is available, then in each case, the Administrative Agent and the Company may amend this Agreement solely for the purpose of replacing Term SOFR LIBOR or any then current Term SOFR LIBOR Successor Rate in accordance with this Section 3.03 at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks and, in each case, including any Related Adjustments and any other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubt, any such proposed rate and adjustments shall constitute a Term SOFR LIBOR Successor Rate. Any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Company unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders object to such amendment.

Dollar Denominated Successor Rate. Notwithstanding anything to the contrary contrary(e) herein, (i) after any such determination by the Administrative Agent or receipt by the Administrative Agent of any such notice described under Section 3.03(c)(i)-(iii), as applicable, if the Administrative Agent determines that the Term SOFR Successor Rate is not available on or prior to the Term SOFR Replacement Date, (ii) if the events or circumstances described in Section 3.03(c)(iv) have occurred but the Term SOFR Successor Rate is not available, or (iii) if the events or circumstances of the type described in Section 3.03(c)(i)-(iii3.03(c)(i)-(iv) have occurred with respect to the Term SOFR Successor Rate then in effect and the Administrative Agent determines that none of the Term SOFR Successor Rates is availableapplicable reference rate for an Alternative Currency, then in each case, the Administrative Agent and the Company may amend this Agreement solely for the purpose of replacing Term SOFR the reference rate for the Alternative Currency or any then current Term SOFR LIBOR Successor Rate for such Alternative Currency in accordance with this Section 3.03 at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities syndicated in the U.S. and denominated in the Alternative Currency for such alternative benchmarks and, in each case, including any Related Adjustments and other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities syndicated in the U.S. and denominated in the Alternative Currency for such benchmarks, each of which adjustment adjustments or method methods for calculating such adjustment adjustments shall be published on an one or more information service services as selected by the Administrative Agent from time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubtupdated (each, an “Adjustment;” and any such proposed rate and adjustments shall constitute for an Alternative Currency, a Term SOFR “Successor Rate”). Any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Company unless, prior to such time, Lenders comprising the Required Revolving Credit Lenders have delivered to the Administrative Agent written notice that such Required Revolving Credit Lenders object to such amendment.. Such Successor Rate for the Alternative Currency shall be applied in a manner consistent with market practice; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such Successor Rate for such Alternative Currency shall be applied in a manner as otherwise reasonably determined by the Administrative Agent. No