Alternate Benchmark Rate definition

Alternate Benchmark Rate has the meaning set forth in the definition of Adjusted LIBOR Rate.
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Alternate Benchmark Rate means: (a) in the case of a LIBOR Rate Transition Event, the alternate rate of interest to the three-month LIBOR Rate established by the Required Lenders and Borrower that gives due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the relevant Governmental Authority or (ii) any evolving or then-prevailing market convention for determining a rate of interest for Dollar-denominated credit facilities in the United States at such time; or (b) in the case of an Early Opt-In Determination, the alternate rate of interest to the three-month LIBOR Rate that has been determined by the Collateral Agent or the Required Lenders, as applicable.
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Alternate Benchmark Rate means: (a) in the case of a LIBOR Rate Transition Event, the alternate rate of interest to the three-month LIBOR Rate established by the Required Lenders that gives due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the relevant Governmental Authority or (ii) any evolving or then-prevailing market convention for determining a rate of interest for Dollar-denominated credit facilities in the United States at such time, and is consistent with such Lenders’ general policy and practice to replace the LIBOR Rate in term loan agreements with other borrowers in the case of a LIBOR Rate Transition Event; or (b) in the case of an Early Opt-In Determination, the alternate rate of interest to the three-month LIBOR Rate that has been reasonably determined by the Required Lenders and is consistent with such Lenders’ general policy and practice to replace the LIBOR Rate in term loan agreements with other borrowers in the case of an Early Opt-In Determination.
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Examples of Alternate Benchmark Rate in a sentence

  • No replacement of the LIBOR Rate with the Alternate Benchmark Rate pursuant to this Section 2.3(a)(iv) will occur prior to the applicable Alternate Benchmark Rate Start Date.

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to convert (x) a SOFR Loan to an Alternate Benchmark Rate Loan or a Federal Funds Interest Rate Loan or (y) an Alternate Benchmark Rate Loan accruing interest at a rate based upon the then-current Benchmark to a Federal Funds Interest Rate Loan or an Alternate Benchmark Rate Loan accruing interest at a rate based upon the applicable Benchmark Replacement for the then-current Benchmark.

  • In the event that Administrative Agent shall have made good faith efforts to implement an Alternate Benchmark Rate and Administrative Agent shall have determined (which determination shall be final and conclusive and binding upon all parties CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT.


More Definitions of Alternate Benchmark Rate

Alternate Benchmark Rate means the sum of (a) the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.2.2(b) hereof and (b) the Spread. Notwithstanding the foregoing, in no event shall the Alternate Benchmark Rate be less than the sum of (i) the Spread and (ii) the Benchmark Floor.
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