Future Canadian Benchmarks Sample Clauses

Future Canadian Benchmarks. Upon the occurrence of a CDORCanadian Benchmark Transition Event or a CDOR Early Opt in Election, as applicable, the Agent and the Borrower may amend this Agreement to, the Canadian Benchmark Replacement will replace the CDOR Rate with a CDORthen-current Canadian Benchmark Replacement. Any such amendment withfor all purposes hereunder and under any Loan Document in respect to a CDORof any Canadian Benchmark Transition Event will become effectivesetting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Banking Day after the Agent has posted such proposed amendmentdate notice of such Canadian Benchmark Replacement is provided to allthe Lenders and the Borrowerswithout any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such amendmentCanadian Benchmark Replacement from Lenders comprising the Required Lenders. Any such amendment with respect to a CDOR Early Opt in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to theAt any time that the administrator of the then-current Canadian Benchmark has permanently or indefinitely ceased to provide such Canadian Benchmark or such Canadian Benchmark has been announced by the administrator or the regulatory supervisor for the administrator of such Canadian Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such Canadian Benchmark is intended to measure and that representativeness will not be restored, the Borrowers may revoke any request for a borrowing of, conversion to or continuation of Loans to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the Borrower’s receipt of notice from the Administrative Agent written notice that such Required Lenders accept such amendment. No replacementa Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, the Borrowers will be deemed to have converted any such request into a request for a borrowing of or conversion to Prime Rate Advances. During the period referenced in the foregoing sentence, the component of the CDORPrime Rate with a CDOR Benchmark Replacement pursuant to this Section 5.30 will occur prior tobased upon the applicable CDORCanadian Benchmark Transition Start Datewill no...