Effect of Benchmark Transition Event. (1) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during the Floating Rate Period, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during such Floating Rate Interest Period and all remaining Floating Rate Interest Periods. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 9 contracts
Samples: Fourth Supplemental Indenture (Independent Bank Group, Inc.), Subordinated Indenture (Provident Financial Services Inc), Subordinated Indenture (Sandy Spring Bancorp Inc)
Effect of Benchmark Transition Event. (1a) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during determination of the Floating Rate PeriodBenchmark on any date, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Subordinated Notes during such the Floating Rate Interest Period in respect of such determination on such date and all remaining Floating Rate Interest Periodsdeterminations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 6 contracts
Samples: Third Coast Bancshares, Inc., Amerant Bancorp Inc., Civista Bancshares, Inc.
Effect of Benchmark Transition Event. (1i) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during determination of the Floating Rate PeriodBenchmark on any date, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Subordinated Notes during such the Floating Rate Interest Period in respect of such determination on such date and all remaining Floating Rate Interest Periodsdeterminations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 5 contracts
Samples: Amerant Bancorp Inc., Civista Bancshares, Inc., Bridgewater Bancshares Inc
Effect of Benchmark Transition Event. (1a) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during determination of the Floating Rate PeriodBenchmark on any date, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during such the Floating Rate Interest Period in respect of such determination on such date and all remaining Floating Rate Interest Periodsdeterminations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 5 contracts
Samples: Fourth Supplemental Indenture (First Busey Corp /Nv/), First Supplemental Indenture (First Mid Bancshares, Inc.), First Supplemental Indenture (Premier Financial Corp)
Effect of Benchmark Transition Event. (1) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during determination of the Floating Rate PeriodBenchmark on any date, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during such the Floating Rate Interest Period in respect of such determination on such date and all remaining Floating Rate Interest Periodsdeterminations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 5 contracts
Samples: Fourth Supplemental Indenture (Customers Bancorp, Inc.), Supplemental Indenture (Banc of California, Inc.), Second Supplemental Indenture (Axos Financial, Inc.)
Effect of Benchmark Transition Event. (1i) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during the Floating Rate Payment Period, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during such Floating Rate Interest Payment Period and all remaining subsequent Floating Rate Interest Payment Periods. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 2 contracts
Samples: Second Supplemental Indenture (Hilltop Holdings Inc.), First Supplemental Indenture (Hilltop Holdings Inc.)
Effect of Benchmark Transition Event. (1i) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during determination of the Floating Rate PeriodBenchmark on any date, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during such the Floating Rate Interest Period in respect of such determination on such date and all remaining Floating Rate Interest Periodsdeterminations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 2 contracts
Samples: Supplemental Indenture (WSFS Financial Corp), Supplemental Indenture (United Community Banks Inc)
Effect of Benchmark Transition Event. (1) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during determination of the Floating Rate PeriodBenchmark on any date, then the Benchmark Replacement will shall replace the then-current Benchmark for all purposes relating to the Notes during such the Floating Rate Interest Period in respect of such determination on such date and all remaining Floating Rate Interest Periodsdeterminations on all subsequent dates. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will shall have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 1 contract
Samples: First Supplemental Indenture (Berkshire Hills Bancorp Inc)
Effect of Benchmark Transition Event. (1i) If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on or prior to the Reference Time in respect of any Floating Rate Interest Period during the Floating Rate Period, then the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes during such Floating Rate Interest Period and all remaining Floating Rate Interest Periods. In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.
Appears in 1 contract
