Benchmark Determination Date means (a) if the Benchmark is LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the date that is two Business Days before the first day of the applicable Accrual Period, (c) if the Benchmark is Compounded SOFR, the date that is five Business Days before the last day of the applicable Accrual Period and (d) if the Benchmark is any other rate, the date determined by the Trust according to Section 2.16 of the Indenture.

Benchmark Determination Date means (a) if the Benchmark is SOFR, the SOFR Determination Date and (b) if the Benchmark is any other rate, the date determined by the Issuer according to Section 3.19(c)(ii) of the Indenture.

Benchmark Determination Date means, (i) for the first Payment Date and the related Interest Accrual Period following the Issuance Date, June 24, 2022, and (ii) for each Payment Date and the related Interest Accrual Period following the first Payment Date, means (1) if the Benchmark is the SOFR Rate, the SOFR Determination Date, and (2) if the Benchmark is not the SOFR Rate, the date determined by the Designated Transaction Representative in accordance with the Benchmark Replacement Conforming Changes for each Payment Date and the related Interest Accrual Period.

Examples of Benchmark Determination Date in a sentence

If the Benchmark is any rate other than SOFR, on each Benchmark Determination Date, the Issuer will notify the Servicer and the Indenture Trustee by email of the Benchmark for the related Interest Period.
Notwithstanding the foregoing, if the initial Benchmark Replacement is any rate other than Term SOFR and the Issuer later determines that Term SOFR can be determined, Term SOFR will become the new Unadjusted Benchmark Replacement and will, together with a new Benchmark Replacement Adjustment for Term SOFR, replace the then-current Benchmark on the next Benchmark Determination Date for Term SOFR.
The Issuer hereby appoints the Indenture Trustee as calculation agent (the “Calculation Agent”) for purposes of determining LIBOR (as described in the definition of “LIBOR”) on each Benchmark Determination Date for the related Accrual Period so long as the Class A-2b Notes are Outstanding and the Benchmark is LIBOR.
If the Benchmark is any rate other than LIBOR, on each Benchmark Determination Date, the Issuer will communicate to the Servicer and the Indenture Trustee the Benchmark for the related Accrual Period.
If the Benchmark is LIBOR, on each Benchmark Determination Date, the Calculation Agent will notify the Servicer, the Issuer and the Administrator by email of the Benchmark for the related Interest Period.

More Definitions of Benchmark Determination Date

Benchmark Determination Date has the meaning set forth in the Sale and Servicing Agreement.

Benchmark Determination Date. With respect to any Interest Accrual Period, (1) if the Benchmark is LIBOR, the second London Banking Day preceding the first day of such Interest Accrual Period and (2) if the Benchmark is not LIBOR, the time determined in the Benchmark Replacement Conforming Changes.

Benchmark Determination Date means, with respect to any Interest Period, (i) if the Benchmark is SOFR, the second U.S. Government Securities Business Day preceding the first day of such Interest Period; or (ii) if the Benchmark is not SOFR, the time determined by the Company in the Benchmark Replacement Conforming Changes.

Benchmark Determination Date means, for each Payment Date and the related Interest Accrual Period means (1) if the Benchmark is LIBOR, the second (2nd) London Banking Day prior to the commencement of such Interest Accrual Period, and (2) if the Benchmark is not LIBOR, the date determined by the Designated Transaction Representative in accordance with the Benchmark Replacement Conforming Changes for each Payment Date and the related Interest Accrual Period.

Benchmark Determination Date means, with respect to any Accrual Period (or for each day in such Accrual Period), (i) if Daily Term SOFR is the Benchmark, the Daily Term SOFR Determination Day or (ii) if any other rate is the Benchmark, such date or dates set forth in Conforming Changes adopted in connection with Section 3.6 and/or Section 4.5.

Benchmark Determination Date means (i) for the first Payment Date and the related Interest Accrual Period following the Issuance Date, May 23, 2023, and (ii) for each Payment Date and the related Interest Accrual Period following the first Payment Date, means (1) if the Benchmark is Term SOFR, the SOFR Determination Date and (2) if the Benchmark is not Term SOFR, the date determined by the Designated Transaction Representatives in accordance with the Benchmark Replacement Conforming Changes for each Payment Date and the related Interest Accrual Period.

Benchmark Determination Date means (a) if the Benchmark is One-Month LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the date that is two Business Days before the first day of the applicable Interest Period, (c) if the Benchmark is Compounded SOFR, the date that is five Business Days before the last day of the applicable Interest Period and (d) if the Benchmark is any other rate, the date determined by the Issuing Entity according to Section 8.4(c) of this Indenture.