Replacing Future CDOR Benchmarks Sample Clauses

Replacing Future CDOR Benchmarks. Upon the occurrence of a CDOR Benchmark Transition Event, the CDOR Benchmark Replacement will replace the then-current CDOR Benchmark for all purposes hereunder and under any Loan Document in respect of any CDOR Benchmark setting at or after 5:00 p.m. (Toronto time) on the fifth (5th) Banking Day after the date notice of such CDOR 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 Loan Document so long as the Agent has not received, by such time, written notice of objection to such CDOR Benchmark Replacement from Lenders comprising the Required Majority Lenders. At any time that the administrator of the then-current CDOR Benchmark has permanently or indefinitely ceased to provide such CDOR Benchmark or such CDOR Benchmark has been announced by the administrator or the regulatory supervisor for the administrator of such CDOR Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such CDOR 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 Advances to be made, converted or continued that would bear interest by reference to such CDOR Benchmark until the Borrower's receipt of notice from the Agent that a CDOR Benchmark Replacement has replaced such CDOR Benchmark, and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Prime Rate Advances. During the period referenced in the foregoing sentence, the component of Base Prime Rate based upon the CDOR Benchmark will not be used in any determination of the Base Prime Rate.