Common use of Term SOFR Conforming Changes Clause in Contracts

Term SOFR Conforming Changes. In connection with the use or administration of Term SOFR, the Initial Lender will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Transaction Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Transaction Document. The Initial Lender will promptly notify the Borrower, the Administrative Agent and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Term SOFR Conforming Changes. In connection with the use or administration of Term SOFR, the Initial Lender will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Transaction Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Transaction Document. The Initial Lender will promptly notify the Borrower, the Administrative Agent Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.