LIBOR Transition Event definition
LIBOR Transition Event means the occurrence of one or more of the following events with respect to the LIBOR rate:
LIBOR Transition Event means any of the following: (a) a public statement or publication of information by or on behalf of the administrator of LIBOR announcing that such administrator has ceased or will cease to provide LIBOR, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide LIBOR; (b) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for LIBOR, a resolution authority with jurisdiction over the administrator for LIBOR or a court or an entity with similar insolvency or resolution authority over the administrator for LIBOR, which states that the administrator of LIBOR has ceased or will cease to provide LIBOR permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide LIBOR; (c) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR announcing that LIBOR is no longer representative; or (d)(i) a determination by Lender that at least ten (10) currently outstanding U.S. dollar-denominated syndicated or bilateral credit facilities at such time contain (as a result of amendment or as originally executed) as a benchmark interest rate, in lieu of LIBOR, a new benchmark interest rate to replace LIBOR, and (ii) Lender has notified Maker in writing that Lender elects to amend this Note as provided herein.
LIBOR Transition Event means (1) a public statement or publication of information by or on behalf of the administrator of the London interbank offered rate incorporated into the LIBO Rate (“LIBOR”) (or the U.S. Federal Reserve System or a regulatory supervisor, insolvency official, resolution authority, court or other entity with jurisdiction or authority over such administrator) that states that such administrator has ceased or will cease to provide LIBOR permanently or indefinitely; provided, that at such time there is no successor administrator that will continue to provide LIBOR or (2) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR announcing that LIBOR is no longer representative.
Examples of LIBOR Transition Event in a sentence
Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a LIBOR Transition Event, Agent may amend this Agreement to replace the LIBOR Rate with a LIBOR Replacement Rate.
Section 11.1 Basis for Determining Interest Rate Inadequate or Unfair; LIBOR Transition Event.
Each of the Subsidiary Guarantors --------------------- identified on Schedule 1.1 have executed and delivered, or are executing and delivering, to the Banks either a Guaranty (Non- Insurance Subsidiaries) or a Guaranty (Regulated Subsidiaries), as indicated on Schedule 1.1, in the form of Exhibits F-2 and F-3, ------------ ------------- --- respectively.
Any such amendment with respect to a LIBOR Transition Event shall become effective at 5:00 p.m. (Eastern Standard Time) on the third (3rd) Business Day after Agent has notified Borrower of such amendment.
Notwithstanding anything to the contrary herein or in any other Financing Agreement, and acknowledging that a LIBOR Transition Event has occurred, Agent may amend this Agreement to replace the LIBOR Rate with the LIBOR Replacement Rate.
More Definitions of LIBOR Transition Event
LIBOR Transition Event means the occurrence of one or more of the following events with respect to the LIBOR Rate: (i) a public statement or publication of information by or on behalf of the administrator of the LIBOR Rate announcing that such administrator has ceased or will cease to provide the LIBOR Rate, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR Rate; (ii) a public statement or publication of information by the regulatory supervisor for the administrator of the LIBOR Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBOR Rate, a resolution authority with jurisdiction over the administrator for the LIBOR Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBOR Rate, which states that the administrator of the LIBOR Rate has ceased or will cease to provide the LIBOR Rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR Rate; or (iii) a public statement or publication of information by the regulatory supervisor for the administrator of the LIBOR Rate announcing that the LIBOR Rate is no longer representative.
LIBOR Transition Event the date of the public statement or publication of information referenced therein.
LIBOR Transition Event the later of (x) the date of the public statement or publication of information referenced therein and (y) the date on which the administrator of LIBOR permanently or indefinitely ceases to provide LIBOR; or
LIBOR Transition Event means (a) a public statement or publication of information by or on behalf of the administrator of the London interbank offered rate incorporated into the Eurodollar Rate (“LIBOR”) (or the U.S. Federal Reserve System or a regulatory supervisor, insolvency official, resolution authority, court or other entity with jurisdiction or authority over such administrator) that states that such administrator has ceased or will cease to provide LIBOR permanently or indefinitely; provided, that at such time there is no successor administrator that will continue to provide LIBOR or (b) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR announcing that LIBOR is no longer representative.
LIBOR Transition Event means (a) a public statement or publication of information by or on behalf of the administrator of the London interbank offered rate incorporated into the Eurodollar Rate (“LIBOR”) (or the U.S. Federal Reserve System or a regulatory supervisor, insolvency official, resolution authority, court or other entity with jurisdiction or authority over such administrator) that states that such administrator has ceased or will cease to provide LIBOR permanently or indefinitely; provided, that at such time there is no successor administrator that will continue to provide LIBOR or (b) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR announcing that LIBOR is no longer representative.
LIBOR Transition Event means (a) a determination by Buyer that adequate and reasonable means do not exist for ascertaining LIBOR or (b) a public statement or publication of information by or on behalf of (i) the administrator of the LIBOR Rate, (ii) the regulatory supervisor for the administrator of the LIBOR Rate, or (iii) the U.S. Federal Reserve System, announcing that (x) such administrator has ceased or will cease to provide the LIBOR Rate, permanently or indefinitely provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR Rate or (y) the LIBOR Rate is no longer representative.
LIBOR Transition Event means any of the following: (a) a public statement or publication of information by or on behalf of the administrator of LIBOR announcing that such administrator has ceased or will cease to provide LIBOR, permanently or