Canadian Benchmark means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof.
Canadian Benchmark means, initially, the CDOR Rate; provided that, if a replacement of the Canadian Benchmark has occurred pursuant to Section 3.03(e), then “Canadian Benchmark” means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof.
Canadian Benchmark shall include, as applicable, the published component used in the calculation thereof.
Examples of Canadian Benchmark in a sentence
The Administrative Agent will promptly notify the Canadian Borrower and the Canadian Lenders of (i) the implementation of any Canadian Benchmark Replacement, (ii) any occurrence of a Term CORRACanadian Benchmark Transition Event, and (iii) the effectiveness of any Canadian Benchmark Replacement Conforming Changes.
In connection with the implementation and administration of a Canadian Benchmark Replacement, the Administrative Agent will have the right to make Canadian Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Canadian Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.
If the Canadian Benchmark Replacement is Daily Simple XXXXX, all interest payments will be payable on a monthly basis.
More Definitions of Canadian Benchmark
Canadian Benchmark means, initially, the Term XXXXX Reference Rate; provided that if a Canadian Benchmark Transition Event has occurred with respect to the Term XXXXX Reference Rate or the then-current Canadian Benchmark, then “Canadian Benchmark” means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.21(a).
Canadian Benchmark means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof pursuant to Section 3.03(c)(i). “Canadian Benchmark Replacement” means, forwith respect to any Canadian Available Tenor:Benchmark Transition Event, (a) where a Canadian Benchmark Transition Event has occurred with respect to the Term XXXXX Reference Rate, Daily Compounded XXXXX; and (1) For purposes of Section 3.03(c)(i), the first alternative set forth below that can be determined by the Administrative Agent: (a) the sum of: (i) Term XXXXX and (ii) 0.29547% (29.547 basis points) for a Canadian Available Tenor of one-month’s duration, and 0.32138% (32.138 basis points) for a Canadian Available Tenor of three-months’ duration, or (a) the sum of: (i) Daily Compounded XXXXX and (ii) 0.29547% (29.547 basis points) for a Canadian Available Tenor of one-month’s duration, and 0.32138% (32.138 basis points) for a Canadian Available Tenor of three-months’ duration; andwhere a Canadian Benchmark Transition Event has occurred with respect to a Canadian Benchmark other than the Term XXXXX Reference Rate, the sum of: (i) the alternate benchmark rate that has been selected by the Administrative Agent and the Canadian Borrowers giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Canadian Relevant Governmental Body or (B) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Canadian Benchmark for Canadian Dollar-denominated syndicated credit facilities and (ii) the related Canadian Benchmark Replacement Adjustment.
Canadian Benchmark means, initially, CDOR; provided that if a replacement of the Canadian Benchmark has occurred pursuant to this Section titled “Canadian Benchmark Replacement”, then “Canadian Benchmark” means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof. “Canadian Benchmark Replacement”, means, for any Canadian Available Tenor: (a) For purposes of Section 2.13.1, the first alternative set forth below that can be determined by the Lender: (i) the sum of: (x) Term XXXXX and (y) 0.29547% (29.547 basis points) for a Canadian Available Tenor of one‐month’s duration, and 0.32138% (32.138 basis points) for a Canadian Available Tenor of three‐months’ duration, or (ii) the sum of: (x) Daily Compounded XXXXX and (y) 0.29547% (29.547 basis points) for a Canadian Available Tenor of one‐month’s duration, and 0.32138% (32.138 basis points) for a Canadian Available Tenor of three‐months’ duration; and (b) For purposes of Section 2.13.2, the sum of (a) the alternate benchmark rate and (b) an adjustment (which may be a positive or negative value or zero), in each case, that has been selected by the Lender and the Borrowers as the replacement for such Canadian Available Tenor of such Canadian Benchmark giving due consideration to any evolving or then‐prevailing market convention, including any applicable recommendations made by the Relevant Canadian Governmental Body, for Canadian dollar‐denominated syndicated credit facilities at such time; provided that, if the Canadian Benchmark Replacement as determined pursuant to clause (a) or (b) above would be less than the Floor, the Canadian Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Financing Documents. “Canadian Benchmark Replacement Conforming Changes” means, with respect to any Canadian Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “CDOR”, “Canadian Prime Rate,” the definition of “Business Day,” the definition of “Interest Period,”” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, admin...
Canadian Benchmark shall include, as applicable, the published component used in the calculation thereof. “Canadian Benchmark Replacement”, means, for any Canadian Available Tenor:
Canadian Benchmark means, initially, the Term CORRA Reference Rate; provided that if a Canadian Benchmark Transition Event has occurred with respect to the Term CORRA Reference Rate or the then-current Canadian Benchmark, then “Canadian Benchmark” means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark.
Canadian Benchmark means, initially, the Term CXXXX Reference Rate; provided that if a Benchmark Transition Event has occurred with respect to the Term CXXXX Reference Rate or the then-current Benchmark, then “Canadian Benchmark” means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate pursuant to this Section 6.
Canadian Benchmark means, initially, CDOR; provided that if a replacement of the Canadian Benchmark has occurred pursuant to Section 3.03(e), then “Canadian Benchmark” means the applicable Canadian Benchmark Replacement to the extent that such Canadian BenchmarkReplacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof.