Switch to Term SOFR Clause Samples

Switch to Term SOFR. If (i) a Term SOFR Transition Event has occurred and (ii) Agent has delivered a Term SOFR Notice prior to any setting of the then-current Benchmark, then the Benchmark Replacement as provided in clause (2) of the definition of thereof will replace the then-current Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document. For the avoidance of doubt, Agent shall not be required to deliver a Term SOFR Notice after a Term SOFR Transition Event and may elect or not elect to do so in its sole discretion.