Examples of LIBOR Transition Event in a sentence
Any such amendment with respect to a LIBOR Transition Event will become effective at 5:00 p.m. (Eastern Standard Time) on the third Business Day after Collateral Agent has notified Borrower of such amendment.
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.
Upon actual knowledge by a senior officer of the Collateral Manager of a LIBOR Transition Event, the Collateral Manager will use commercially reasonable efforts to select a Benchmark Replacement Rate or Designated Alternative Rate, in each case, in accordance with the terms of the Indenture.
Furthermore, notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a LIBOR Transition Event, Collateral Agent may, in its good faith business judgment, amend this Agreement to replace the Basic Rate with a LIBOR Replacement Rate; provided, however, that Collateral Agent will provide a written notice of such change to Borrower.
A new Section 2.15 is hereby added to the Credit Agreement and shall read as follows: “Section 2.15 Effect of LIBOR Transition Event.