Replacement Benchmark definition

Replacement Benchmark means a benchmark rate which is:

Replacement Benchmark means a benchmark rate which is (in the following order):

Replacement Benchmark means, in respect of a Relevant Benchmark, an index, benchmark or other price source that the Calculation Agent determines to be a reasonable alternative for such Relevant Benchmark which would have the effect of substantially preserving the economic effect to the Noteholders (in respect of their holding of the Notes) and the Swap Counterparty (in respect of its position under the Swap Agreement)

Examples of Replacement Benchmark in a sentence

• The related Benchmark Replacement Date is expected to occur on or about June 30, 2023 (absent an intervening additional Benchmark Transition Event), at which time the Administrator will determine the applicable Benchmark Replacement, Benchmark Replacement Adjustment, if any, and any necessary Benchmark Replacement Conforming Changes in accordance with the Indenture, and one-month LIBOR will no longer be the Benchmark rate for the floating rate notes.

• The Administrator shall have the right to make SOFR Conforming Changes and, in connection with the implementation of a Benchmark Replacement, Benchmark Replacement Conforming Changes, from time to time.

• The Administrator shall have the right to make SOFR Adjustment Conforming Changes and, in connection with the implementation of a Benchmark Replacement, Benchmark Replacement Conforming Changes, from time to time.

• Any Replacement Benchmark will be applied prospectively to determine the amount of the Performance Adjustment.

• The Benchmark will continue to be used to determine the amount of the Performance Adjustment for that part of the Performance Period prior to the effective date of the Replacement Benchmark.

More Definitions of Replacement Benchmark

Replacement Benchmark means, in respect of a Relevant Benchmark(s),

Replacement Benchmark means Term SOFR or a benchmark rate which is:

Replacement Benchmark means a benchmark rate which is in relation to MPR:

Replacement Benchmark means a benchmark rate which is: (a) formally designated, nominated or recommended as the replacement for the Primary Term Rate by: (i) the administrator of the Primary Term Rate (so long as the market or economic reality that such benchmark rate measures is the same as that measured by the Primary Term Rate); or (1) any Relevant Nominating Body, and if replacements have, at the relevant time, been formally designated, nominated or recommended under both clauses, the "Replacement Benchmark" will be the replacement under paragraph (a)(i); (b) in the opinion of the Majority Lenders and the Obligors, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to the Primary Term Rate; or

Replacement Benchmark means a benchmark rate which is: (a) formally designated, nominated or recommended as the replacement for the Relevant Rate by:

Replacement Benchmark means a benchmark rate which is: a) formally designated, nominated or recommended as the replacement for a Screen Rate by: (i) the administrator of that Screen Rate (provided that the market or economic reality that such benchmark rate measures is the same as that measured by that Screen Rate); or (ii) any Relevant Nominating Body, and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the "Replacement Benchmark" will be the replacement under paragraph (ii) above; b) in the opinion of the Majority Lenders and the Obligors, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to a Screen Rate; or c) in the opinion of the Majority Lenders and the Obligors, an appropriate successor to a Screen Rate. 36 CONFIDENTIAL INFORMATION 36.1 Confidentiality Each Finance Party agrees to keep all Confidential Information confidential and not to disclose it to anyone, save to the extent permitted by Clause 36.2 (Disclosure of Confidential Information), and to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own confidential information.

Replacement Benchmark means a benchmarkrate which is: