Replacement Benchmark Rate definition

Replacement Benchmark Rate means the benchmark rate determined by the Calculation Agent, acting reasonably and in good faith, to be an appropriate successor to EURIBOR;

Replacement Benchmark Rate means an alternate benchmark rate, together with applicable spread or other adjustments (if any) to such benchmark, reasonably determined by the Maker, in consultation with the Noteholder, and notified to the Noteholder in writing by the Maker, which shall represent an alternative benchmark rate, and related adjustments, as applicable, then prevailing for U.S. dollar-denominated credit facilities as a replacement for 1-month LIBOR, it being agreed in any event that the Maker and the Noteholder will negotiate promptly and in good faith to establish the Replacement Benchmark Rate, together with related administrative, technical and conforming changes to the provisions of this Note, by mutual agreement, upon the reasonable request of either the Maker or the Noteholder, in advance of any date when the Published LIBO Rate would be unavailable or cease to represent a prevailing benchmark interest rate under U.S. dollar-denominated credit facilities; provided, that on and from the date that the Published LIBO Rate is no longer available until such time as the Maker and Noteholder have agreed an alternate benchmark rate as set forth above, the “Replacement Benchmark Rate” shall be the sum of the Published LIBO Rate for each of the months in the six (6) month period immediately preceding the LIBO Termination Date, divided by six (6) (as determined in good faith by the Maker).

Replacement Benchmark Rate means the benchmark rate, together with a spread (if applicable) determined by the Calculation Agent in its sole discretion after taking into account prevailing market practice or any spread published by a governmental authority or industry body, determined by the Calculation Agent to be an appropriate successor to the Reference Rate OTHER NOTES

Examples of Replacement Benchmark Rate in a sentence

• Any Notice of Borrowing which has been delivered to the Administrative Agent requesting a SOFR Loan on a day on or subsequent to the effective date of such notification will be deemed to request instead a Loan in US dollars in the same amount bearing interest on the basis of the Replacement Benchmark Rate.

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• The Borrower will not be entitled to obtain any SOFR Loan from the Administrative Agent based on the Term SOFR Rate so long as any of the circumstances set out in this Section continue to exist, and any Loan that would otherwise have been made by the Administrative Agent as a SOFR Loan shall instead be made as an ABR Loan or a Loan in US Dollars bearing interest on the basis of the Replacement Benchmark Rate.

• If the Replacement Benchmark Rate would at any time be less than 1.50%, the Replacement Benchmark Rate will be deemed to be 1.50% for the purposes of this Agreement and the other Loan Documents.

• On or after the occurrence of a Benchmark Rate Replacement Event, the Dividend Rate shall bethe Replacement Benchmark Rate once determined by the Calculation Agent and announced via SENS.

• All interest charges with respect to the Loans shall be paid to the Lender on the first day of each month with respect to the prior month.

More Definitions of Replacement Benchmark Rate

Replacement Benchmark Rate as defined in Section 2.11(a).

Replacement Benchmark Rate means a DS Benchmark Replacement Rate or a TS Benchmark Replacement Rate.

Replacement Benchmark Rate means a benchmark rate which is selected by the Bank in its sole discretion and implemented in accordance with this Clause as an appropriate successor to LIBOR and taking into account any rate:

Replacement Benchmark Rate means, in respect of a Benchmark Rate, an index, benchmark or other price source that the Calculation Agent determines to be a commercially reasonable alternative for such Reference Rate, provided that the Replacement Benchmark Rate must be (i) a Priority Fallback Benchmark; (ii) an Alternative Pre-nominated Index; (iii) an Alternative Post-nominated Index; or (iv) a Calculation Agent Nominated Replacement Index.

Replacement Benchmark Rate means, in respect of a Series and a Benchmark Rate: