Common use of Term RFR Transition Event Clause in Contracts

Term RFR Transition Event. Notwithstanding anything to the contrary in this Amendment, the Existing Agreement or in any Other Document and subject to the proviso below in this paragraph, if a Term RFR Transition Date has occurred prior to the Reference Time in respect of any setting of the then-current Benchmark consisting of a Daily Simple RFR for the applicable Affected Currency, then the applicable Term RFR, if any, will replace such Benchmark for all purposes hereunder or under any Other Document in respect of such Benchmark for the applicable Affected Currency setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, the Agreement or any Other Document; provided that this clause (i) shall not be effective unless the Agent has delivered to the Lenders and the Borrowers a Term RFR Notice with respect to the applicable Term RFR Transition Event. For the avoidance of doubt, the Agent shall not be required to deliver a Term RFR Notice after a Term RFR Transition Event and may elect or not elect to do so in its sole discretion.

Term RFR Transition Event. Notwithstanding anything to the contrary in this Amendment, the Existing Agreement or in any Other other Loan Document and subject to the proviso below in this paragraph, if a Term RFR Transition Date has occurred prior to the Reference Time in respect of any setting of the then-current Benchmark consisting of a Daily Simple RFR for the applicable Affected Currency, then the applicable Term RFR, if any, will replace such Benchmark for all purposes hereunder or under any Other Loan Document in respect of such Benchmark for the applicable Affected Currency setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, the Agreement or any Other other Loan Document; provided that this clause (i) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrowers Borrower a Term RFR Notice with respect to the applicable Term RFR Transition Event. For the avoidance of doubt, the Administrative Agent shall not be required to deliver a Term RFR Notice after a Term RFR Transition Event and may elect or not elect to do so in its sole discretion.

Term RFR Transition Event. Notwithstanding anything to the contrary in this Amendment, the Existing Agreement or in any Other other Loan Document and subject to the proviso below in this paragraph, if a Term RFR Transition Date has occurred prior to the Reference Time in respect of any setting of the then-current Benchmark consisting of a Daily Simple RFR for the applicable Affected Currency, then the applicable Term RFR, if any, will replace such Benchmark for all purposes hereunder or under any Other Loan Document in respect of such Benchmark for the applicable Affected Currency setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, the Agreement or any Other other Loan Document; provided that this clause (i) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrowers a Term RFR Notice with respect to the applicable Term RFR Transition Event. For the avoidance of doubt, the Administrative Agent shall not be required to deliver a Term RFR Notice after a Term RFR Transition Event and may elect or not elect to do so in its sole discretion.

Term RFR Transition Event. Notwithstanding anything to the contrary in this Amendment, the Existing Agreement or in any Other other Transaction Document and subject to the proviso below in this paragraph, if a Term RFR Transition Date has occurred prior to the Reference Time in respect of any setting of the then-current Benchmark consisting of a Daily Simple RFR for the applicable Affected Currency, then the applicable Term RFR, if any, will replace such Benchmark for all purposes hereunder or under any Other Transaction Document in respect of such Benchmark for the applicable Affected Currency setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, the Agreement or any Other other Transaction Document; provided that this clause (i) shall not be effective unless the Agent Administrator has delivered to the Lenders Purchasers and the Borrowers Seller a Term RFR Notice with respect to the applicable Term RFR Transition Event. For the avoidance of doubt, the Agent Administrator shall not be required to deliver a Term RFR Notice after a Term RFR Transition Event and may elect or not elect to do so in its sole discretion.