Common use of Reference Rate Replacement Clause in Contracts

Reference Rate Replacement. (a) Notwithstanding anything to the contrary herein or in any other Credit Document, if a Reference Rate Transition Event or an Early Opt-in Election, as applicable, and its related Reference Rate Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Reference Rate, then (x) if a replacement Reference Rate is determined in accordance with clause (1) or (2) of the definition of "Reference Rate Replacement" for such Reference Rate Replacement Date or in connection with an Early Opt-in Election, such Reference Rate Replacement will replace such Reference Rate for all purposes hereunder and under any Credit Document in respect of such Reference Rate setting and subsequent Reference Rate settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Document, (y) if a Reference Rate Replacement is determined in accordance with clause (3) of the definition of "Reference Rate Replacement" for such Reference Rate Replacement Date, such Reference Rate Replacement will replace such Reference Rate for all purposes hereunder and under any Credit Document in respect of any Reference Rate setting at or after 5:00 p.m. New York City time on the fifth (5th) Business Day after the date notice of such Reference Rate Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Reference Rate Replacement from Lenders comprising the Required Lenders or (z) in connection with an Early Opt-in Election, such Reference Rate Replacement will replace such Reference Rate for all purposes hereunder and under any Credit Document in respect of such Reference Rate setting on the date specified in the notice of the Early Opt-in Election delivered in accordance with the definition of such term.

Reference Rate Replacement. (a) Notwithstanding anything to the contrary herein or in any other Credit Loan Document, if a Reference Rate Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Reference Rate Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Reference RateBenchmark, then (x) if a replacement Reference Rate Benchmark Replacement is determined in accordance with clause (1) or (2) of the definition of "Reference Rate “Benchmark Replacement" ” for such Reference Rate Benchmark Replacement Date or in connection with an Early Opt-in ElectionDate, such Reference Rate Benchmark Replacement will replace such Reference Rate Benchmark for all purposes hereunder and under any Credit Loan Document in respect of such Reference Rate Benchmark setting and subsequent Reference Rate Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Document, Loan Document and (y) if a Reference Rate Benchmark Replacement is determined in accordance with clause (3) of the definition of "Reference Rate “Benchmark Replacement" ” for such Reference Rate Benchmark Replacement Date, such Reference Rate Benchmark Replacement will replace such Reference Rate Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Reference Rate Benchmark setting at or after 5:00 p.m. (New York City time time) on the fifth (5th) Business Day after the date notice of such Reference Rate Benchmark Replacement is provided to the Lenders Banks without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Reference Rate Benchmark Replacement from Lenders Banks comprising the Required Lenders or (z) in connection with an Early Opt-in Election, such Reference Rate Replacement will replace such Reference Rate for all purposes hereunder and under any Credit Document in respect of such Reference Rate setting on the date specified in the notice of the Early Opt-in Election delivered in accordance with the definition of such termBanks.

Reference Rate Replacement. (a) Notwithstanding anything to the contrary herein or in any other Credit Loan Document, if a Reference Rate Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Reference Rate Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Reference RateBenchmark, then (x) if a replacement Reference Rate Benchmark Replacement is determined in accordance with clause (1) or (2) of the definition of "Reference Rate “Benchmark Replacement" ” for such Reference Rate Benchmark Replacement Date or in connection with an Early Opt-in ElectionDate, such Reference Rate Benchmark Replacement will replace such Reference Rate Benchmark for all purposes hereunder and under any Credit Loan Document in respect of such Reference Rate Benchmark setting and subsequent Reference Rate Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Document, Loan Document and (y) if a Reference Rate Benchmark Replacement is determined in accordance with clause (3) of the definition of "Reference Rate “Benchmark Replacement" ” for such Reference Rate Benchmark Replacement Date, such Reference Rate Benchmark Replacement will replace such Reference Rate Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Reference Rate Benchmark setting at or after 5:00 p.m. (New York City time time) on the fifth (5th) Business Day after the date notice of such Reference Rate Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Reference Rate Benchmark Replacement from Lenders comprising the appropriate Required Lenders or (z) in connection with an Early Opt-in Election, such Reference Rate Replacement will replace such Reference Rate for all purposes hereunder and under any Credit Document in respect of such Reference Rate setting on the date specified in the notice of the Early Opt-in Election delivered in accordance with the definition of such termLenders.