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 the Replacement Benchmark, if any, indicated in clause (q) (Replacement Benchmark) of the Facilities Agreement.

Replacement Benchmark means the first of the below alternative possible rate replacements that can be determined as of the Benchmark Replacement Date:

Replacement Benchmark means such index, benchmark or other price source (or component thereof) as is recognised or acknowledged as being industry standard which would previously have referenced the relevant Benchmark (which recognition or acknowledgment may be in the form of a press release, a member announcement, protocol, publication of standard terms or otherwise).

Replacement Benchmark means, in respect of an Affected Relevant Benchmark, an index, benchmark or other price source that the Calculation Agent determines to be a commercially reasonable alternative for such Affected Relevant Benchmark provided that the Replacement Benchmark must be: