Common use of Secondary Term XXXXX Conversion Clause in Contracts

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(a) of such definition will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on the last day of the then-current interest payment period, into a Loan bearing interest at the Benchmark Replacement described in clause (1)(a) of such definition for the respective Available Tenor as selected by the Borrower as is available for the then-current Benchmark; provided that, this clause (f) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term XXXXX Notice, and so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Lenders or the Borrower.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(aa)(i)(A) of such definition will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan Advance outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert convert, on the last day of the then-current interest payment period, into a Loan an Advance bearing interest at the Benchmark Replacement described in clause (1)(aa)(i)(A) of such definition for having a tenor approximately the respective same length as the interest payment period applicable to such Advance immediately prior to the conversion or such other Available Tenor as may be selected by the Borrower as is available for concerned and agreed by the then-current BenchmarkAgent; provided that, this clause (fSection 5.9(3)(f) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term XXXXX Notice, and so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Required Lenders or the Borrower.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Credit Facility Document (and any Hedge Agreement shall be deemed not to be a “Credit Facility Document” for purposes of this Section) and subject to the proviso below in this clauseSection 10.4(g), if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (ix) the Benchmark Replacement described in clause (1)(aSection 10.4(a)(iii)(A)(1) of such definition will replace the then-current Benchmark for all purposes hereunder or under any Loan Credit Facility Document in respect of any setting of such 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 Credit Facility Document; and (iiy) each Loan Advance outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan an Advance bearing interest at the Benchmark Replacement described in clause (1)(aSection 10.4(a)(iii)(A)(1) of having a tenor approximately the same length as the interest payment period applicable to such definition for Advance immediately prior to the respective conversion or such other Available Tenor as may be selected by WFT and agreed by the Borrower as is available for the then-current BenchmarkAgent; provided that, this clause (fSection 10.4(g) shall not be effective unless the Administrative Agent has delivered to the Canadian Lenders and the Borrower WFT a Term XXXXX Notice, and so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Canadian Lenders comprising the Majority Lenders or the BorrowerWFT.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(aa)(i) of such the definition of “Benchmark Replacement” will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan bearing interest at the Benchmark Replacement described in clause (1)(aa)(i) of the definition of “Benchmark Replacement” having a tenor approximately the same length as the interest payment period applicable to such definition for Loan immediately prior to the respective conversion or such other Available Tenor as may be selected by the Borrower as is available for Borrowers and agreed by the then-current BenchmarkAgent; provided that, this clause (fSection 2.09(6) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower Borrowers a Term XXXXX Notice, Notice and so long as the Administrative Agent has not received, by 5:00 5.00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Required Lenders or the BorrowerBorrowers.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Financing Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(a) of such definition will replace the then-current Benchmark for all purposes hereunder or under any Loan Financing Document in respect of any setting of such 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 Financing Document; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan bearing interest at the Benchmark Replacement described in clause (1)(a) of such definition for having a tenor approximately the respective same length as the interest payment period applicable to such Loan immediately prior to the conversion or such other Available Tenor as may be selected by the Borrower as is available for and agreed by the then-current BenchmarkLender; provided that, this clause (f) shall not be effective unless the Administrative Agent Lender has delivered to the Lenders and the Borrower a Term XXXXX Notice, and so long as the Administrative Agent Lender has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Lenders or the Borrower.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(a) of such definition will replace the then-current then‐current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current then‐current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan an Advance bearing interest at the Benchmark Replacement described in clause (1)(a) of such definition for having a tenor approximately the respective same length as the interest payment period applicable to such Advance immediately prior to the conversion or such other Available Tenor as may be selected by the Borrower as is available for and agreed by the then-current BenchmarkAgent; provided that, this clause (f) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term XXXXX Notice, and so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Required Lenders or the Borrower.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(ac)(i) of such definition will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan bearing interest at the Benchmark Replacement described in clause (1)(ac)(i) of such definition for the respective Available Tenor as selected by the Borrower as is available for the then-current Benchmark; provided that, this clause (fe) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term XXXXX Notice, and so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Required Lenders or the Borrower.. (ef)

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(aa)(i) of such definition will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan bearing interest at the Benchmark Replacement described in clause (1)(aa)(i) of such definition for having a tenor approximately the respective same length as the interest payment period applicable to such Loan immediately prior to the conversion or such other Available Tenor as may be selected by the Borrower as is available for and agreed by the then-current BenchmarkAdministrative Agent; provided that, this clause (f) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term XXXXX Notice, and so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Required Lenders or the Borrower.

Secondary Term XXXXX Conversion. Notwithstanding anything to the contrary herein or in any Loan Document and subject to the proviso below in this clause, if a Term XXXXX Transition Event and its related Term XXXXX Transition Date have occurred, then on and after such Term XXXXX Transition Date (i) the Benchmark Replacement described in clause (1)(a) of such the definition of “Benchmark Replacement” will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of any setting of such 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; and (ii) each Loan outstanding on the Term XXXXX Transition Date bearing interest based on the then-current Benchmark shall convert on convert, at the last day start of the then-current next interest payment period, into a Loan bearing interest at the Benchmark Replacement described in clause (1)(a) of the definition of “Benchmark Replacement” having a tenor approximately the same length as the interest payment period applicable to such definition for Loan immediately prior to the respective conversion or such other Available Tenor as may be selected by the Borrower as is available for and agreed by the then-current BenchmarkLender; provided that, this clause (fSection 2.09(6) shall not be effective unless the Administrative Agent Lender has delivered to the Lenders and the Borrower a Term XXXXX Notice, Notice and so long as the Administrative Agent Lender has not received, by 5:00 5.00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the Term XXXXX Notice, written notice of objection to such conversion to Term XXXXX from Lenders comprising the Majority Lenders or the Borrower.