Common use of Replacing Future Benchmarks Clause in Contracts

Replacing Future Benchmarks. Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder in respect of any Benchmark setting at or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Borrower without any amendment to this Agreement, or further action or consent of the Borrower.

Replacing Future Benchmarks. Upon the occurrence of a Benchmark Benchmark(a) Transition Event, the applicable Benchmark Replacement will replace the then-current currentcurrent Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting of such Benchmark at or after 5:00 3:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Borrower Lenders without any amendment to this Agreementto, or further action or consent of the Borrower.any 83

Replacing Future Benchmarks. Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder in respect of any Benchmark setting at or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Borrower without any amendment to this Agreement, or further action or consent of the Borrower.. 3.6.3

Replacing Future Benchmarks. Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under this Agreement in respect of any Benchmark setting at or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Borrower Depositor without any amendment to this Agreementto, or further action or consent of any other party to, this Agreement, so long as the BorrowerAdministrator has not received, by such time, written notice of objection to such Benchmark Replacement from Depositor.