Common use of Successor Eurodollar Rate Index Clause in Contracts

Successor Eurodollar Rate Index. (a) If the Administrative Agent determines in good faith (which determination shall be final and conclusive, absent manifest error) that either (a) (i) the circumstances set forth in Section 3.03 have arisen and are unlikely to be temporary, or (ii) the circumstances set forth in Section 3.03 have not arisen but the applicable supervisor or administrator (if any) of the Eurodollar Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying the specific date after which the Eurodollar Rate shall no longer be used for determining interest rates for loans (either such date, a “LIBOR Termination Date”), or (b) a rate other than the Eurodollar Rate has become a widely recognized benchmark rate for newly originated revolving loans in Dollars in the U.S. market, then the Administrative Agent and the Borrower shall endeavor to choose a replacement index for the Eurodollar Rate and make adjustments to applicable margins and related amendments to this Agreement as referred to below.

Successor Eurodollar Rate Index. (a) If the Administrative Agent determines in good faith (which determination shall be final and conclusive, absent manifest error) that either (a) (ii)(A) the circumstances set forth in Section 3.03 3.8.1(a) have arisen and are unlikely to be temporary, or (iiB) the circumstances set forth in Section 3.03 3.8.1(a) have not arisen but the applicable supervisor or administrator (if any) of the Eurodollar Rate or a Governmental Authority Body having jurisdiction over the Administrative Agent has made a public statement identifying the specific date after which the Eurodollar Rate shall no longer be used for determining interest rates for loans (either such date, a “LIBOR Eurodollar Termination Date”), or (bii) a rate other than the Eurodollar Rate has become a widely recognized benchmark rate for newly originated revolving loans in Dollars in the U.S. market, then the Administrative Agent and the Borrower shall endeavor to may (in consultation with Borrower) choose a replacement index for the Eurodollar Rate and make adjustments to applicable margins and related amendments to this Agreement as referred to belowbelow such that, to the extent practicable, the all-in interest rate based on the replacement index will be substantially equivalent to the all-in Eurodollar Rate-based interest rate in effect prior to its replacement.

Successor Eurodollar Rate Index. (a) If the Administrative Agent determines in good faith (which determination shall be final and conclusive, absent manifest error) that either (ai) (iA) the circumstances set forth in Section 3.03 3.8.1(a) have arisen and are unlikely to be temporary, or (iiB) the circumstances set forth in Section 3.03 3.8.1(a) have not arisen but the applicable supervisor or administrator (if any) of the Eurodollar Rate or a Governmental Authority Body having jurisdiction over the Administrative Agent has made a public statement identifying the specific date after which the Eurodollar Rate shall no longer be used for determining interest rates for loans (either such date, a “LIBOR Eurodollar Termination Date”), or (bii) a rate other than the Eurodollar Rate has become a widely recognized benchmark rate for newly originated revolving loans in Dollars in the U.S. market, then the Administrative Agent and may (in consultation with the Borrower shall endeavor to Borrower) choose a replacement index for the Eurodollar Rate and make adjustments to applicable margins and related amendments to this Agreement as referred to belowbelow such that, to the extent practicable, the all-in interest rate based on the replacement index will be substantially equivalent to the all-in Eurodollar Rate-based interest rate in effect prior to its replacement.