Applicable Pricing Rate Transition Event definition

Applicable Pricing Rate Transition Event. The occurrence of one or more of the following events with respect to the then-current Applicable Pricing Rate:

Examples of Applicable Pricing Rate Transition Event in a sentence

• Buyer shall promptly notify the parties of (i) any occurrence of an Applicable Pricing Rate Transition Event and its related Applicable Pricing Rate Replacement Date, (ii) the implementation of any Applicable Pricing Rate Replacement, and (iii) the effectiveness of any Applicable Pricing Rate Replacement Conforming Changes.

• If the Applicable Pricing Rate Replacement is determined in accordance with clause (a) or (b) of the definition of “Applicable Pricing Rate Replacement,” in connection with an Applicable Pricing Rate Transition Event, such Applicable Pricing Rate Replacement will become effective as of the Reference Time on the Applicable Pricing Rate Replacement Date without any amendment to, or further action or consent of any other party to, this Agreement.

• Buyer will promptly notify Seller of (i) any occurrence of an Applicable Pricing Rate Transition Event or an Early Opt-in Election, as applicable, and its related Applicable Pricing Rate Replacement Date, (ii) the implementation of any Applicable Pricing Rate Replacement, (iii) the effectiveness of any Applicable Pricing Rate Replacement Conforming Changes and (iv) the removal or reinstatement of any tenor of Term SOFR pursuant to Section 4.6(d) below.