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 this Section 1.18, 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 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: (1) For purposes of Section 2.12.1, the first alternative set forth below that can be determined by the Lenders: (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 (b) 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; and (2) For purposes of Section 2.12.2, 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 Lenders 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 (1) or (2) 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
Examples of Canadian Benchmark in a sentence
At any time (including in connection with the implementation of a Canadian Benchmark Replacement), if the then-current Canadian Benchmark is a term rate, then (i) the Agent may remove any tenor of such Canadian Benchmark that is unavailable or non-representative for Canadian Benchmark (including Canadian Benchmark Replacement) settings and (ii) the Agent may reinstate any such previously removed tenor for Canadian Benchmark (including Canadian Benchmark Replacement) settings.
As of the Second Amendment Effective Date, the Administrative Agent hereby notifies the Borrower and the Lenders of (i) the implementation of the Canadian Benchmark Replacement and (ii) the effectiveness of the Canadian Benchmark Replacement Conforming Changes, in each case, pursuant to this Amendment.
In the case of a Term XXXXX Transition Event, the date that is set forth in the Term XXXXX Notice provided to the Banks and the Borrower, for the replacement of the then-current Canadian Benchmark with the Canadian Benchmark Replacement described in clause (a)(i) of such definition, which date shall be at least thirty (30) Business Days from the date of the Term XXXXX Notice.
The Agent will promptly notify the Borrower, the Lenders and the Collateral Agent of (i) the implementation of any Canadian Benchmark Replacement and (ii) the effectiveness of any Canadian Benchmark Replacement Conforming Changes.
Replacement of SOFR or SOFR Successor Rate; Canadian Benchmark Replacement Setting; Replacement of Relevant Rate or Successor Rate.
More Definitions of Canadian Benchmark
Canadian Benchmark shall include, as applicable, the published component used in the calculation thereof.
Canadian Benchmark means, initially, the Term XXXXX Reference Rate or Daily Compounded XXXXX, as the case may be; provided that if a Canadian Benchmark Transition Event has occurred with respect to the Term XXXXX Reference Rate, Daily Compounded XXXXX, or the then-current Canadian Benchmark, then "Canadian Benchmark" means the applicable Canadian Benchmark Replacement to the extent that such Canadian 104822.00280/115572577.6305585250.30
Canadian Benchmark means, initially, CDOR; provided that if a replacement of the Canadian Benchmark has occurred pursuant to this Section titled “CDOR Rate Replacement Setting”, 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 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, Adjustedthe Term SOFRCORRA Reference Rate; provided that if a Canadian Benchmark Transition Event has occurred with respect to Adjustedthe Term SOFRCORRA 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 clause Section 2.10(a) of Section 2.9.
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: for any Available Tenor: (a) For purposes of Section 3.6.2(a), the first alternative set forth below that can be determined by the Agent: (i) the sum of: (i) Term XXXXX and (ii) 0.29547% (29.547 basis points) for an Available Tenor of one-month’s duration, and 0.32138% (32.138 basis points) for an Available Tenor of three-months’ duration, or (ii) the sum of: (i) Daily Simple XXXXX and (ii) 0.29547% (29.547 basis points); and (b) For purposes of Section 3.6.2(b), the sum of (i) the alternate benchmark rate and (ii) an adjustment (which may be a positive or negative value or zero), in each case, that has been selected by the Agent and the Canadian Borrower as the replacement for such 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 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 Loan Documents. 93
Canadian Benchmark means, for any day, a rate per annum equal to the sum of (i) Daily Compounded XXXXX and (ii) 0.2846% (28.46 basis points).