Transition to Term SOFR. Notwithstanding any other provision herein or in any other Loan Document, any Term Loan and Revolving Loan that constitutes a Eurocurrency Loan that is outstanding as of the Amendment No. 3 Effective Date shall continue until the end of the applicable Interest Period for such Eurocurrency Loan for each Class and the provisions of the Credit Agreement applicable thereto shall continue and remain in effect (notwithstanding the entry into this Amendment and the occurrence of the Amendment No. 3 Effective Date) until the end of the applicable Interest Period (the “Current Interest Period”) for such Eurocurrency Loan for each such Class, after which such provisions shall have no further force or effect and upon which date the terms of the Amended Credit Agreement notwithstanding this Section 11 shall automatically apply to such Term Loans and Revolving Loans without any further action by any party party hereto; provided that, for the avoidance of doubt, at any time from and after the Amendment No. 3 Effective Date, the Borrower shall not be permitted to request a Borrowing of, conversion to, or continuation of, any Eurocurrency Loan that is a Loan outstanding as of the Amendment No. 3 Effective Date and shall instead request that any such Borrowing is made in, converted to or continued to, as applicable, Term SOFR Loans (as defined in the Amended Credit Agreement); provided, further, that if the Borrower has not delivered an Interest Election Request specifying an Interest Period (as defined in the Amended Credit Agreement) at the end of the Current Interest Period for such Eurocurrency Loan, the Borrower shall be deemed to have selected an Interest Period (as defined in the Amended Credit Agreement) of one month’s duration. For the avoidance of doubt, from and after the Amendment No. 3 Effective Date, dollars shall not be considered a currency for which there is a published LIBOR rate.
Transition to Term SOFR. Notwithstanding any other provision herein or in any other Credit Document, any Loan that constitutes a Eurocurrency Loan (as defined in the Credit Agreement) denominated in Dollars that is outstanding as of the Amendment Effective Date shall continue until the end of the applicable Interest Period for such Eurocurrency Loan and the provisions of the Credit Agreement applicable thereto shall continue and remain in effect (notwithstanding the occurrence of the Amendment Effective Date) until the end of the applicable Interest Period for such Eurocurrency Loan, after which such provisions shall have no further force or effect and such Eurocurrency Loan shall either be a Term SOFR Loan or an ABR Loan as determined in accordance with the Amended Credit Agreement. Section 8.
Transition to Term SOFR. Notwithstanding anything to the contrary contained in this Agreement, (i) each BSBY Rate Loan (as defined in the Existing Credit Agreement) outstanding on the Effective Date (the “Existing BSBY Rate Loans”) shall remain outstanding as such until the expiration of the then-pending Interest Period (as defined in the Existing Credit Agreement) applicable to such Existing BSBY Rate Loans, in accordance with, and subject to all of the terms and conditions of, the Existing Credit Agreement and (ii) interest on each such Existing BSBY Rate Loans shall continue to accrue to, and shall be payable on, the interest payment date applicable thereto until such then-pending Interest Period for such Existing BSBY Rate Loan ends in accordance with the Existing Credit Agreement. From and after the Effective Date, (i) the Borrowers shall not be permitted to request that any Bank fund, and no Bank shall fund, any BSBY Rate Loan (as defined in the Existing Credit Agreement), (ii) no BSBY Rate Loan (as defined in the Existing Credit Agreement) may be continued as a BSBY Rate Loan (as defined in the Existing Credit Agreement) and (iii) each Existing BSBY Rate Loan may be converted to a Term SOFR Loan or a Base Rate Loan in accordance with this Agreement.
Transition to Term SOFR. This Amendment implements USD Benchmark Conforming Changes in connection with the replacement of USD LIBOR with Adjusted Term SOFR (as defined in Credit Agreement). Notwithstanding anything herein or in the Credit Agreement to the contrary, any Eurocurrency Loan denominated in Dollars that is outstanding as of the Amendment Effective Date (an “Existing USD LIBOR Loan”) shall remain a Loan which accrues interest by reference to the applicable Eurocurrency Rate (without giving effect to the changes to the Existing Credit Agreement made by this Amendment) until the end of the applicable Interest Period. Any Existing USD LIBOR Loan shall automatically convert to a Term SOFR Loan in the amount of such Existing USD LIBOR Loan and with an Interest Period with the nearest length to such existing Interest Period on the last day of the Interest Period applicable to such Existing USD LIBOR Loan, unless, with respect to the length of such Interest Period, the Parent Borrower elects otherwise in accordance with the terms of the Credit Agreement.
Transition to Term SOFR. Notwithstanding any other provision herein or in the Credit Agreement, the interest on any Eurodollar Loans outstanding as of the Amendment Effective Date will continue to be determined by reference to the LIBOR provisions that apply prior to the Amendment Effective Date, until the end of the then current Interest Period on such Loans, at which time interest shall be determined in accordance with the Credit Agreement, as amended by this Agreement.
Transition to Term SOFR. (a) Notwithstanding the foregoing or anything to the contrary contained in this First Amendment (or the Exhibits attached hereto), the terms of the Existing Credit Agreement in respect of the calculation, payment and administration of Borrowings of Eurocurrency Loans denominated in Dollars (including the Existing Eurocurrency Borrowings referred to below) shall remain in full force and effect from and after the Conforming Changes Amendment Effective Date, in each case, solely for purposes of the calculation, payment and administration of Borrowings of Eurocurrency Loans denominated in Dollars (including the payment of interest, breakage fees and other amounts thereon), as applicable. Each Borrowing of Eurocurrency Loans denominated in Dollars that is outstanding on the Conforming Changes Amendment Effective Date (each, an “Existing Eurocurency Borrowing”) shall remain a Borrowing of Eurocurrency Loans for all purposes under the Amended Credit Agreement until the end of the then current Interest Period applicable to such Borrowing (each such date, an “Existing Interest Period Expiration Date”).
Transition to Term SOFR. Notwithstanding any other provision herein or in any other Credit Document, the interest on any Loans outstanding as of the Fifth Restatement Effective Date will continue to be determined by reference to the provisions of the Fourth Restated Credit Agreement that apply prior to the Fifth Restatement Effective Date until the end of the then current Interest Period (as defined in the Fourth Restated Credit Agreement immediately prior to the Fifth Amendment Effective Date) on such Loans, at which time interest shall be determined after giving effect to this Restatement Agreement.
Transition to Term SOFR. Notwithstanding any other provision herein or in any other Credit Document, the interest on any Loans outstanding as of the Amendment No. 1 Effective Date will continue to be determined by reference to the provisions of the Third Restated Credit Agreement that apply prior to the Amendment No. 1 Effective Date until the end of the then current Interest Period (as defined in the Fourth Restated Credit Agreement immediately prior to the Amendment No. 1 Effective Date) on such Loans, at which time interest shall be determined after giving effect to this Agreement.
Transition to Term SOFR. Notwithstanding any other provision herein or in any other Credit Document, any Loan that constitutes a Eurodollar Rate Loan (as defined in the Credit Agreement) that is outstanding as of the Amendment No. 1 Closing Date shall continue until the end of the applicable Interest Period for such Eurodollar Rate Loan and the provisions of the Credit Agreement applicable thereto shall continue and remain in effect (notwithstanding the occurrence of the Amendment No. 1 Closing Date) until the end of the applicable Interest Period for such Eurodollar Rate Loan, after which such provisions shall have no further force or effect and such Eurodollar Rate Loan shall either be a Term Benchmark Loan or an ABR Loan as determined in accordance with the Amended Credit Agreement. #96888003v4
Transition to Term SOFR. Notwithstanding anything to the contrary herein, from and after the Amendment No. 1 Effective Date:
