Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y) (1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 7 contracts
Sources: Credit Agreement (McGraw Hill, Inc.), Credit Agreement (McGraw Hill, Inc.), Credit Agreement (McGraw Hill, Inc.)
Replacing Future Canadian Benchmarks. Upon If the occurrence of a then-current Benchmark shall cease to exist with respect to the Canadian Benchmark Transition EventBenchmark, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Transaction Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) CAD Business Day after the date notice of such Canadian 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 Transaction Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Loans based on the Alternate Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanRate.
Appears in 7 contracts
Sources: Loan and Servicing Agreement (Ares Strategic Income Fund), Loan and Servicing Agreement (AGL Private Credit Income Fund), Loan and Servicing Agreement (Antares Strategic Credit Fund)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Credit 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 4 contracts
Sources: Revolving Credit Agreement (BlackRock Direct Lending Corp.), Revolving Credit Agreement (Goldman Sachs Middle Market Lending Corp. II), Revolving Credit Agreement (BlackRock Direct Lending Corp.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders and the Company 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, a Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until such Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any each such request into a request for a borrowing Borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end Dollar Equivalent of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loanamount specified therein.
Appears in 4 contracts
Sources: Credit Agreement (Smithfield Foods Inc), Amendment No. 2 to Credit Agreement (Smithfield Foods Inc), Credit Agreement (Smithfield Foods Inc)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving AC Lenders. At 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, Borrower ▇▇▇▇▇▇▇▇▇ may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s ▇▇▇▇▇▇▇▇▇’▇ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower ▇▇▇▇▇▇▇▇▇ will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan.Prime Rate. 172003018 161402032v1
Appears in 3 contracts
Sources: Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders Lender comprising the Required Revolving Lenders. At 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, any Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the such Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) such Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of the Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 3 contracts
Sources: Revolving Credit Agreement (CF Industries Holdings, Inc.), Revolving Credit Agreement (CF Industries Holdings, Inc.), Revolving Credit Agreement (CF Industries Holdings, Inc.)
Replacing Future Canadian Benchmarks. Upon If the occurrence of a then-current Canadian Benchmark Transition Eventshall cease to exist, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Transaction Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) CAD Business Day after the date notice of such Canadian 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 Transaction Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Loans based on the Alternate Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanRate.
Appears in 3 contracts
Sources: Loan and Servicing Agreement (Blue Owl Capital Corp), Loan and Servicing Agreement (Blue Owl Capital Corp), Loan and Servicing Agreement (Blue Owl Capital Corp III)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided by the Administrative Agent to the Lenders and the applicable Borrower 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 applicable Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the applicable Borrower will be deemed to have converted any such request into a request for a borrowing Borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end Dollar Equivalent of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loanamount specified therein.
Appears in 3 contracts
Sources: Credit Agreement (Arthur J. Gallagher & Co.), Credit Agreement (Arthur J. Gallagher & Co.), Credit Agreement (Arthur J. Gallagher & Co.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current then‐current Canadian Benchmark for all purposes hereunder and under any Credit Financing Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Borrowers by the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Financing Document so long as the Administrative Agent has Lenders have not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersBorrowers. At any time that the administrator of the then-current 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent Lenders that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars or conversion to Canadian Prime Borrowings. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 3 contracts
Sources: Credit Agreement (Brookfield Wealth Solutions Ltd.), Subordinate Credit Agreement (Brookfield Renewable Corp), Subordinate Credit Agreement (Brookfield Renewable Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current then‐current Canadian Benchmark for all purposes hereunder and under any Credit Financing Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders Borrowers by the Lender without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Financing Document so long as the Administrative Agent Lender has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersBorrowers. At any time that the administrator of the then-current 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent Lender that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars or conversion to Canadian Prime Borrowings. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 2 contracts
Sources: Subordinate Credit Agreement (Brookfield Infrastructure Corp), Subordinate Credit Agreement (Brookfield Infrastructure Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 2 contracts
Sources: Credit Agreement (Healthpeak Properties, Inc.), Credit Agreement (Watsco Inc)
Replacing Future Canadian Benchmarks. Upon If the occurrence of a then-current Benchmark shall cease to exist with respect to the Canadian Benchmark Transition EventBenchmark, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit other Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) CAD Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Credit 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base Rate or conversion to Loans denominated in Dollars in based on the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanReference Rate.
Appears in 2 contracts
Sources: Revolving Credit Agreement (AGL Private Credit Income Fund), Revolving Credit Agreement (AGL Private Credit Income Fund)
Replacing Future Canadian Benchmarks. Upon If the occurrence of a then-current Canadian Benchmark Transition Eventshall cease to exist, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) CAD Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Majority Lenders. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Loans based on the Alternate Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanRate.
Appears in 2 contracts
Sources: Credit Agreement (Blue Owl Technology Finance Corp.), Credit Agreement (Blue Owl Technology Finance Corp. II)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate or conversion to Loans denominated in Dollars bearing interest at the Canadian Prime Rate. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 2 contracts
Sources: Credit Agreement (Lowes Companies Inc), Credit Agreement (Lowes Companies Inc)
Replacing Future Canadian Benchmarks. Upon the occurrence of and (y) if a Canadian Benchmark Transition Event, theReplacement is determined in accordance with clause (b) of the definition of “Canadian Benchmark Replacement” for such Canadian Benchmark Replacement Date, such Canadian Benchmark Replacement will replace the then-current currentsuch Canadian Benchmark for all purposes hereunder and under any Credit Financing Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Borrowers by the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Financing Document so long as the Administrative Agent has Lenders have not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersBorrowers. At 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent Lenders that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars or conversion to Canadian Prime Borrowings. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Canadian Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to Prime Rate. If the Canadian Benchmark Replacement at is Daily Compounded ▇▇▇▇▇, all interest payments will be payable on the end last day of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable each Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 2 contracts
Sources: First Amending Agreement (Brookfield Renewable Corp), First Amending Agreement (Brookfield Renewable Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current then‐current Canadian Benchmark for all purposes hereunder and under any Credit Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders Borrowers by the Lender 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 Lender has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersBorrowers. At any time that the administrator of the then-current 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent Lender that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars or conversion to Canadian Prime Borrowings. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 2 contracts
Sources: Subordinate Credit Agreement (Brookfield Business Corp), Subordinate Credit Agreement (Brookfield Business Corp)
Replacing Future Canadian Benchmarks. Upon Notwithstanding anything to the occurrence of contrary herein or in any other Financing Document, if a Canadian Benchmark Transition EventEvent and its related Canadian Benchmark Replacement Date have occurred prior any setting of the then-current Canadian Benchmark, then (i) if a Canadian Benchmark Replacement is determined in accordance with clause (a) of the definition of “Canadian Benchmark Replacement” for such Canadian Benchmark Replacement Date, such Canadian Benchmark Replacement will replace the then-current such Canadian Benchmark for all purposes hereunder and under any Credit Financing Document in respect of such Canadian Benchmark setting and subsequent Canadian Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Financing Document and (y) if a Canadian Benchmark Replacement is determined in accordance with clause (b) of the definition of “Canadian Benchmark Replacement” for such Canadian Benchmark Replacement Date, such Canadian Benchmark Replacement will replace such Canadian Benchmark for all purposes hereunder and under any Financing Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders Borrowers 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersFinancing Document. At 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, Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to If the Canadian Benchmark Replacement at is Daily Compounded ▇▇▇▇▇, all interest payments will be payable on the end last day of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable each Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 2 contracts
Sources: Subordinate Credit Agreement (Brookfield Infrastructure Corp), Subordinate Credit Agreement (Brookfield Renewable Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
) (1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 2 contracts
Sources: Credit Agreement (McGraw Hill, Inc.), Credit Agreement (McGraw Hill, Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, any Borrower may revoke any request for a Borrowing of, conversion to borrowing or continuation of Loans denominated in Canadian dollars to be made, converted made or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the receipt by such Borrower of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the applicable Borrower will be deemed to have converted any request for a borrowing of such request Loans into a request for a borrowing of Base Rate Loans denominated in Dollars Dollars. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, with respect to Swing Line Loans denominated in Canadian Benchmark Replacement has replaced such Dollars, the component of the Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 2 contracts
Sources: Canadian Benchmark Replacement Conforming Changes Amendment (Viad Corp), Credit Agreement (Viad Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)Canadian
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 2 contracts
Sources: Credit Agreement (McGraw Hill, Inc.), Credit Agreement (McGraw Hill, Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Canadian 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 Canadian Benchmark Replacement from Canadian Lenders comprising the Canadian Required Revolving Lenders. At 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 Canadian Borrower may revoke any request for a Borrowing of, conversion to or continuation of Canadian Revolver Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the Canadian Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Canadian Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 2 contracts
Sources: Loan and Security Agreement (Topgolf Callaway Brands Corp.), Loan Agreement (Topgolf Callaway Brands Corp.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders Banks comprising the Required Revolving LendersBanks. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end Dollar Equivalent of the applicable Interest Period, in the case amount of an Alternative Currency Term Rate Loansuch Loans.
Appears in 2 contracts
Sources: Credit Agreement (Boston Properties LTD Partnership), Credit Agreement (Boston Properties LTD Partnership)
Replacing Future Canadian Benchmarks. Upon the occurrence of of, this Agreement or any other Financing Document and (y) if a Canadian Benchmark Transition Event, theReplacement is determined in accordance with clause (b) of the definition of “Canadian Benchmark Replacement” for such Canadian Benchmark Replacement Date, such Canadian Benchmark Replacement will replace the then-current currentsuch Canadian Benchmark for all purposes hereunder and under any Credit Financing Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders Borrowers by the Lender without any amendment to, or further action or consent of any other party to, this Agreement or any other Credit Financing Document so long as the Administrative Agent Lender has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersBorrowers. At 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent Lender that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars or conversion to Canadian Prime Borrowings. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Canadian Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, Prime Rate this Agreement or any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to other Financing Document. If the Canadian Benchmark Replacement at is Daily Compounded ▇▇▇▇▇, all interest payments will be payable on the end last day of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable each Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 2 contracts
Sources: First Amending Agreement (Brookfield Infrastructure Corp), First Amending Agreement (Brookfield Infrastructure Corp)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower the Borrowers may revoke any request for a Borrowing of, conversion to of or continuation of Alternative Currency Loans denominated in Canadian dollars to be made, converted made or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of a Base Rate Loans denominated in Dollars Loan (and with respect to any continuation request, such continuation request will be revoked and instead be a repayment of such Alternative Currency Loan and a request for a borrowing of a Base Rate Loan in the equivalent Dollar Equivalent of the amount and (y)
(1) if a Canadian Benchmark Replacement has replaced of such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan).
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving AC Lenders. At 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, Borrower C▇▇▇▇▇▇▇▇ may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s C▇▇▇▇▇▇▇▇’▇ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower C▇▇▇▇▇▇▇▇ will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Parent Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the Parent Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Parent Borrower will be deemed to have converted any such request into a request for a borrowing Borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediatelyconversion to, in the case of an Alternative Currency Daily Multicurrency Revolving Tranche Loans, Canadian Prime Rate LoanLoans, or at the end of the applicable Interest Period, and in the case of an Alternative Currency Term Tranche Loans, a Borrowing of Base Rate LoanLoans in the Dollar Equivalent of the amount of such Loans. During the period referenced in the foregoing sentence, the component of Canadian Prime Rate based upon the Canadian Benchmark will not be used in any determination of Canadian Prime Rate.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Transaction Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders without any amendment to, or orrequiring any further action by 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersTransaction Document. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Advances 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Prime Rate Loans denominated in Dollars Advances. During the period referenced in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmarkforegoing sentence, any outstanding affected Alternative Currency Term the component of Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Loan and Servicing Agreement (HPS Corporate Lending Fund)
Replacing Future Canadian Benchmarks. Upon If the occurrence of a then-current Canadian Benchmark Transition Eventshall cease to exist, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) CAD Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Loans based on the Alternate Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanRate.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower the Company may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrowerthe Company’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Company will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon Notwithstanding anything to the occurrence of contrary herein or in any other Financing Document, if a Canadian Benchmark Transition EventEvent and its related Canadian Benchmark Replacement Date have occurred prior any setting of the then-current Canadian Benchmark, then (x) if a Canadian Benchmark Replacement is determined in accordance with clause (a) of the definition of “Canadian Benchmark Replacement” for such Canadian Benchmark Replacement Date, such Canadian Benchmark Replacement will replace the then-current such Canadian Benchmark for all purposes hereunder and under any Credit Financing Document in respect of such Canadian Benchmark setting and subsequent Canadian Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Financing Document and (y) if a Canadian Benchmark Replacement is determined in accordance with clause (b) of the definition of “Canadian Benchmark Replacement” for such Canadian Benchmark Replacement Date, such Canadian Benchmark Replacement will replace such Canadian Benchmark for all purposes hereunder and under any Financing Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders Borrowers 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersFinancing Document. At 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, Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to If the Canadian Benchmark Replacement at is Daily Compounded C▇▇▇▇, all interest payments will be payable on the end last day of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable each Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon If the occurrence of a then-current Canadian Benchmark Transition Eventshall cease to exist with respect to the Canadian Benchmark, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Transaction Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) CAD Business Day after the date notice of such Canadian 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 Transaction Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Loans based on the Alternate Base Rate Loans denominated in Dollars in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanRate.
Appears in 1 contract
Sources: Loan and Servicing Agreement (Blue Owl Capital Corp III)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Majority Lenders. At 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, Borrower the Borrowers may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Canadian Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Sustainability Linked Credit Agreement (Colliers International Group Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from the Lenders comprising the Required Revolving Majority Lenders. At 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, a Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Advances to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until such Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) such Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Advances. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement (Tucows Inc /Pa/)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders Required Applicable Banks in an Applicable Tranche 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 Canadian Benchmark Replacement from Lenders Banks comprising the Required Revolving LendersApplicable Banks in such Applicable Tranche. At 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, Borrower the Company may revoke any request for a Borrowing an Advance of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrowerthe Company’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Company will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement (Cme Group Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current currentthen‐current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At any time that the administrator of the then-current currentthen‐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 Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to BaseCanadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmarkforegoing sentence, any outstanding affected Alternative Currency Term the component of the BaseCanadian Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and will not be used in any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end determination of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanBaseCanadian Prime Rate.
Appears in 1 contract
Sources: Credit Agreement (Matrix Service Co)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Lenders without any amendment to, or further action or CHAR1\1982698v3 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 applicable Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until such Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) such Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement (Celestica Inc)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition EventEvent and its related Canadian Benchmark Replacement Date, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any setting of such Canadian Benchmark on such day and all subsequent settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date on which notice of such Canadian 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 Canadian Benchmark Replacement from Revolving Credit Lenders comprising the Required Revolving Lenders. At 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 Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars 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 that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Revolving Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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, Borrower the Borrowers may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until such Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) such Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans denominated in Dollars (in the equivalent amount and (yDollar Equivalent thereof)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided by the Administrative Agent to the Lenders and any Canadian Borrower 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 Canadian Benchmark Replacement from Canadian Lenders comprising holding 50% or more of the Required Revolving Lendersaggregate amount of the Canadian Commitments. At 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, any Canadian Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Advances to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the such Canadian Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) such Canadian Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Advances. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of the Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: 5 Year Credit Agreement (Marsh & McLennan Companies, Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 applicable Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until such Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) such Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Prime Rate based upon the Benchmark Replacement has replaced such will not be used in any determination of Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement (Celestica Inc)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Parent Borrower may revoke any request for a Borrowing of, conversion to or continuation rollover of Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the Parent Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Parent Borrower will be deemed to have converted any such request into a request for a borrowing Borrowing of or conversion to Base Rate Loans denominated in Dollars in the equivalent an amount and (y)
(1) if a Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Rate Loans shall be deemed to be converted immediately equal to the Canadian Benchmark Replacement at the end of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanDollar Equivalent amount.
Appears in 1 contract
Sources: Credit Agreement (Montrose Environmental Group, Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders comprising the Required Revolving Lenders. At 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 Canadian Borrower may revoke any request for a Borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the Canadian Borrower’s receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Canadian Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Revolving Credit Agreement (Berry Global Group, Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Canadian Benchmark Replacement from Lenders Banks comprising the Required Revolving LendersMajority Banks. At 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, Borrower the Borrowers may revoke any request for a Borrowing an Advance of, conversion to or continuation of Loans denominated in Canadian dollars Dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) Borrower the Borrowers will be deemed to have converted any such request into a request for a borrowing of Base or conversion to Canadian Prime Rate Loans denominated in Dollars Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement (NIKE, Inc.)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Loan Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian Benchmark Replacement is provided to the Canadian 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 Canadian Benchmark Replacement from Canadian Lenders comprising the Required Revolving Canadian Lenders. At 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 Parent Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Canadian Loans denominated in Canadian dollars to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until the Parent Borrower’s receipt of notice from the Canadian Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Parent Borrower will be deemed to have converted any such request into a request for a borrowing of Base Rate Loans denominated in Dollars or conversion to Canadian Prime Loans. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of the Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current Canadian Benchmark for all purposes hereunder and under any Credit Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date notice of such Canadian 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 Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving Majority Lenders. At 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 applicable Borrower may revoke any request for a Borrowing borrowing of, conversion to or continuation of Loans denominated in Canadian dollars Accommodations to be made, converted or continued that would bear interest by reference to such Canadian Benchmark until Borrower’s the Borrowers’ receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the applicable Borrower will be deemed to have converted any such request into a request for a borrowing of Base or conversion to a Canadian Prime Rate Loans denominated in Dollars Advance. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement (Vail Resorts Inc)
Replacing Future Canadian Benchmarks. Upon the occurrence of a Canadian Benchmark Transition Event, the Canadian Benchmark Replacement will replace the then-current then‐current Canadian Benchmark for all purposes hereunder and under any Credit Document in respect of any Canadian Benchmark setting at or after 5:00 p.m. (Toronto Montreal time) on the fifth (5th) Business Banking Day after the date notice of such Canadian 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 Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Canadian Benchmark Replacement from Lenders comprising the Required Revolving LendersMajority Lenders . At any time that the administrator of the then-current 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 Borrower may revoke any request for a Borrowing Drawdown of, conversion Conversion to or continuation Rollover of Loans denominated in Canadian dollars Advances to be made, converted or continued rolled over that would bear interest by reference to such Canadian Benchmark until the Borrower’s 's receipt of notice from the Administrative Agent that a Canadian Benchmark Replacement has replaced such Canadian Benchmark, and, failing that, (x) the Borrower will be deemed to have converted any such request into a request for a borrowing Drawdown of Base or Conversion to Canadian Prime Rate Loans denominated in Dollars Loan s. During the period referenced in the equivalent amount and (y)
(1) if a foregoing sentence, the component of Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Term Prime Rate Loans shall be deemed to be converted immediately to based upon the Canadian Benchmark Replacement at the end will not be used in any determination of their respective applicable Interest Period and any outstanding affected Alternative Currency Daily Rate Loans shall be deemed to be converted immediately to the Canadian Benchmark Replacement or (2) if no Canadian Benchmark Replacement has replaced such Canadian Benchmark, any outstanding affected Alternative Currency Loans shall be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate LoanPrime Rate.
Appears in 1 contract
Sources: Credit Agreement