Canadian Benchmark Replacement means, for any Available Tenor:
Canadian Benchmark Replacement means, for any Available Tenor, the sum of (i) the alternate benchmark rate and (ii) an adjustment (which may be a positive or negative value or zero), that has been selected by the Agent and the 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 Canadian Relevant Governmental Body, for CAD-denominated syndicated credit facilities at such time; provided that, if the Canadian Benchmark Replacement 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 Transaction Documents.
Canadian Benchmark Replacement means, with respect to any Canadian Benchmark Transition Event:
Examples of Canadian Benchmark Replacement in a sentence
The Administrative Agent will promptly notify all the parties hereto in writing in advance (if feasible) of (i) any occurrence of (A) a Canadian Benchmark Transition Event and (B) the Canadian Benchmark Replacement Date with respect thereto, (ii) the implementation of any Canadian Benchmark Replacement, and (iii) the effectiveness of any Canadian Benchmark Conforming Changes.
The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Term SOFR Reference Rate, Term SOFR, Term XXXXX Reference Rate, Term XXXXX, Adjusted Term XXXXX, any alternative, successor or replacement rate (including any Benchmark Replacement (Dollar) or Canadian Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.
More Definitions of Canadian Benchmark Replacement
Canadian Benchmark Replacement means, with respect to any Canadian Benchmark Transition Event,
Canadian Benchmark Replacement means the Canadian Benchmark Replacement or any similar or analogous definition in the Credit Agreement.
Canadian Benchmark Replacement means, for any Available Canadian Tenor, the first alternative set forth below that can be determined by the Administrative Agent:
Canadian Benchmark Replacement means, for any Available Tenor: (a) For purposes of Section 3.03(c)(i), the first alternative set forth below that can be determined by the Administrative Agent: (i) the sum of: (i) Term CXXXX 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 Compounded CXXXX 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; and (b) For purposes of Section 3.03(c)(ii), 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 Administrative Agent and the 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. Any Canadian Benchmark Replacement shall be applied in a manner consistent with market practice; provided, that, to the extent such market practice is not administratively feasible for the Administrative Agent, such Canadian Benchmark Replacement shall be applied in a manner as otherwise reasonably determined by the Administrative Agent. “Canadian Benchmark Transition Event” means, with respect to any then-current Canadian Benchmark other than CDOR, the occurrence of a public statement or publication of information by or on behalf of the administrator of the then-current Canadian Benchmark, the regulatory supervisor for the administrator of such Canadian Benchmark, any Governmental Authority with jurisdiction over such
Canadian Benchmark Replacement means, for any Canadian Available Tenor: (a) in the case of any Benchmark Transition Event or Early Opt-in Election, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:
Canadian Benchmark Replacement means, for any Available Tenor, (a) for purposes of Section 17.2(d)(i) of this Agreement, the sum of: (i) Daily Compounded XXXXX and (ii) 0.32138% (32.138 basis points) for an Available Tenor of three-months’ duration; and (b) for purposes of Section 17.2(d)(ii) of this Agreement, the sum of (i) the alternate benchmark rate and (ii) an adjustment (which may be a positive or negative value or zero), that in the case of the foregoing clauses (b)(i) and (b)(ii) has been selected by the Agent and the 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 Canadian Relevant Governmental Body, for CAD-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 Transaction Documents.