Common use of Successor LIBOR Rate Index Clause in Contracts

Successor LIBOR Rate Index. (a) If the Agent determines (which determination shall be final and conclusive, absent manifest error) or the Required Lenders notify the Agent (with, in the case of the Required Lenders, a notice to Borrower) that the Required Lenders have determined either (i)(x) the circumstances set forth in §4.5 have arisen and are unlikely to be temporary, or (y) the circumstances set forth in §4.5 have not arisen but the applicable supervisor or administrator (if any) of LIBOR or a Governmental Authority having jurisdiction over the Agent has made a public statement identifying the specific date after which LIBOR shall no longer be used for determining interest rates for loans (either such date, a “LIBOR Termination Date”), or (ii) a rate other than LIBOR has become a widely recognized benchmark rate for newly originated loans in Dollars in the U.S. market, then the Agent may (in consultation with the Borrower) choose a replacement index for LIBOR and make adjustments to applicable margins and related amendments to this Agreement as referred to below such that, to the extent practicable, the all-in interest rate for the applicable Interest Period based on the replacement index will be generally equivalent to the all-in LIBOR based interest rate for the equivalent Interest Period in effect prior to its replacement.

Successor LIBOR Rate Index. (a) ). If the Agent determines (which determination shall be final and conclusive, absent manifest error) or the Required Lenders notify the Agent (with, in the case of the Required Lenders, a notice to Borrower) that the Required Lenders have determined either (i)(x) the circumstances set forth in §4.5 4.6 have arisen and are unlikely to be temporary, or (y) the circumstances set forth in §4.5 4.6 have not arisen but the applicable supervisor or administrator (if any) of LIBOR or a Governmental Authority having jurisdiction over the Agent has made a public statement identifying the specific date after which LIBOR shall no longer be used for determining interest rates for loans (either such date, a “LIBOR Termination Date”), or (ii) a rate other than LIBOR has become a widely recognized benchmark rate for newly originated loans in Dollars in the U.S. market, then the Agent may (in consultation with the Borrower) choose a replacement index for LIBOR and make adjustments to applicable margins and related amendments to this Agreement as referred to below such that, to the extent practicable, the all-in interest rate for the applicable Interest Period based on the replacement index will be generally equivalent to the all-in LIBOR based interest rate for the equivalent Interest Period in effect prior to its replacement.

Successor LIBOR Rate Index. (ai) If the Administrative Agent reasonably and in good faith determines (which determination shall be final and conclusive, absent manifest error) or the Required Lenders notify the Agent that (with, in the case of the Required Lenders, a notice to Borrower) that the Required Lenders have determined either (i)(xa) the circumstances set forth in §4.5 Section 3.5 have arisen and are unlikely to be temporary, (b) the LIBOR Base Rate specified herein is no longer a widely used benchmark rate for newly originated loans in the U.S. syndicated loan market in the applicable currency or (yc) the circumstances set forth in §4.5 Section 3.5 have not arisen but the applicable supervisor or administrator (if any) of the LIBOR Base Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying the specific date after which the LIBOR Base Rate shall no longer be used for determining interest rates for loans in the U.S. syndicated loan market in the applicable currency (either the applicable date of any such dateevent, a “LIBOR Termination Date”), or (ii) a rate other than LIBOR has become a widely recognized benchmark rate for newly originated loans in Dollars in the U.S. market, then the Administrative Agent may (in consultation with the Borrower) Borrower and as determined by Administrative Agent to be generally consistent with market practice), choose a replacement index for the LIBOR Base Rate and make adjustments to applicable margins and related amendments to this Agreement as referred to below such that, to the extent practicable, the all-in interest rate for the applicable Interest Period based on the replacement index will be generally substantially equivalent to the all-in LIBOR Rate-based interest rate for the equivalent Interest Period in effect prior to its replacement.

Successor LIBOR Rate Index. (a) ). If the Agent determines (which determination shall be final and conclusive, absent manifest error) or the Required Lenders notify the Agent (with, in the case of the Required Lenders, a notice to Borrower) that the Required Lenders have determined either (i)(x) the circumstances set forth in §4.5 4.6 have arisen and are unlikely to be temporary, or (y) the circumstances set forth in §4.5 4.6 have not arisen but the applicable supervisor or administrator (if any) of LIBOR or a Governmental Authority having jurisdiction over the Agent has made a public statement identifying the specific date after which LIBOR shall no longer be used for determining interest rates for loans (either such date, a “LIBOR Termination Date”), or (ii) a rate other than 101 LIBOR has become a widely recognized benchmark rate for newly originated loans in Dollars in the U.S. market, then the Agent may (in consultation with the Borrower) choose a replacement index for LIBOR and make adjustments to applicable margins and related amendments to this Agreement as referred to below such that, to the extent practicable, the all-in interest rate for the applicable Interest Period based on the replacement index will be generally equivalent to the all-in LIBOR based interest rate for the equivalent Interest Period in effect prior to its replacement.