LIBORTerm SOFR Notification Sample Clauses

The LIBORTerm SOFR Notification clause establishes the process by which parties are informed of the transition from LIBOR to the Term SOFR (Secured Overnight Financing Rate) as a benchmark interest rate. This clause typically outlines the method and timing of notification, specifying how and when the change will be communicated to all relevant parties, and may include details about the effective date of the new rate or any adjustments to contractual terms. Its core practical function is to ensure all parties are aware of and prepared for the benchmark rate transition, thereby reducing confusion and mitigating the risk of disputes related to interest calculations.
LIBORTerm SOFR Notification. Section 3.8.2. of this Agreement provides a mechanism for determining an alternate rate of interest in the event that the London interbank offered rateTerm SOFR Rate is no longer available or in certain other circumstances. The Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBORTerm SOFR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.
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LIBORTerm SOFR Notification. The interest rate on EurodollarTerm SOFR Borrowings and Daily EurodollarTerm SOFR Loans is determined by reference to the LIBOAdjusted Term SOFR Screen Rate and Adjusted Daily Eurodollar BaseTerm SOFR Screen Rate, respectively, which isare derived from LIBORTerm SOFR. Section 2.11(b) provides a mechanism for (a) determining an alternative rate of interest if LIBORTerm SOFR is no longer available or in the other circumstances set forth in Section 2.11(b), and (b) modifying this Agreement to give effect to such alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to LIBORTerm SOFR or other rates in the definition of LIBOTerm SOFR Screen Rate and Daily Eurodollar BaseTerm SOFR Rate, as applicable, or with respect to any alternative or successor rate thereto, or replacement rate thereof (including any Benchmark Replacement), including without limitation, whether any such alternative, successor or replacement reference rate (including any Benchmark Replacement), as it may or may not be adjusted pursuant to Section 2.113.3(b), will have the same value as, or be economically equivalent to, the LIBO Rate or Daily Eurodollar Base Rate, as applicable.
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LIBORTerm SOFR Notification. Section 4.6 [Successor LIBOR Rate Index4.4.4 [Benchmark Replacement Setting] of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rateTerm SOFR Rate is no longer available or in certain other circumstances. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBORTerm SOFR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.
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LIBORTerm SOFR Notification. The interest rate on Eurodollar RateTerm SOFR Loans is determined by reference to the EurodollarTerm SOFR Base Rate, which is derived from LIBORTerm SOFR. Section 3.03(b) provides a mechanism for (a) determining an alternative rate of interest if LIBORTerm SOFR is no longer available or in the other circumstances set forth in Section 3.03(b), and (b) modifying this Agreement to give effect to such alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to LIBORTerm SOFR or other rates in the definition of EurodollarTerm SOFR Base Rate or with respect to any alternative or successor rate thereto, or replacement rate thereof (including any Benchmark Replacement), including without limitation, whether any such alternative, successor or replacement reference rate (including any Benchmark Replacement), as it may or may not be adjusted pursuant to Section 3.03(b), will have the same value as, or be economically equivalent to, the Eurodollar Base Rate.
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Related to LIBORTerm SOFR Notification

  • LIBOR Notification Section 3.8(b) of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances. The Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBOR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.

  • Prior Notification Unless specifically prohibited by applicable law or court order, each of the Banks and the Agent shall, prior to disclosure thereof, notify the Borrower of any request for disclosure of any such non-public information by any governmental agency or representative thereof (other than any such request in connection with an examination of the financial condition of such Bank by such governmental agency) or pursuant to legal process.

  • Required Notifications Each Grantor shall promptly notify the Administrative Agent, in writing, of: (i) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material impairment on the aggregate value of the Collateral or on the security interests created hereby.

  • Required Acceptance of Daily Load Deliveries and Notification If the State is harmed by purchaser’s refusal to accept up to 10 truck deliveries of any one sort per day, Purchaser will be in breach of contract and subject to damages as per the D-026.2 and D-027.2 clauses. A truck delivery is all the wood delivered including sorts on super trucks, mule trains and pups brought to the delivery point by a single truck. The Purchaser shall notify the Contract Administrator at least 48 hours in advance if: 1. Purchaser intends to limit the number of truck deliveries accepted on any day to less than that listed above, or 2. Purchaser intends to limit the number of truck deliveries accepted on any day to the number listed above.

  • Union Notification The Union shall be notified of all appointments, hirings, layoffs, transfers, recalls and terminations of employment.