SOFR Benchmark definition

SOFR Benchmark means SOFR, provided that if a SOFR Benchmark Transition Event and its related SOFR Benchmark Replacement Date have occurred with respect to SOFR or such other then-current SOFR Benchmark, then "SOFR Benchmark" means the applicable SOFR Benchmark Replacement;

SOFR Benchmark means (a) (unless “SOFR Index with Observation Shift” is specified in the relevant Final Terms) SOFR or (b) SOFR Index (each as defined in Condition 4C.05(C) above);

SOFR Benchmark means SOFR provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to SOFR or the then-current SOFR Benchmark, then “SOFR Benchmark” means the applicable Benchmark Replacement.

Examples of SOFR Benchmark in a sentence

• Each variable interest rate provided for in this Agreement will change automatically, without notice, whenever the Prime Rate, the US Base Rate, applicable Bankers Acceptance Yield, LIBO Rate, or any applicable SOFR Benchmark Rate, as the case may be, changes.

• Furthermore, the composition and characteristics of the Successor Rate, Alternative Rate, Benchmark Replacement or SOFR Benchmark Replacement (as applicable) may not be the same as those of the Original Reference Rate.

• Where Screen Rate Determination is specified as the manner in which the Rate of Interest in respect of Floating Rate Notes is to be determined, and EURIBOR or another Reference Rate (other than €STR, SARON, SOFR Benchmark, SONIA and TONA) has been selected as the Reference Rate, Condition 5(c)(iii)(C) provides that the Rate of Interest shall be determined by reference to the Relevant Screen Page (or its successor or replacement).

• The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Alternate Base Rate, Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR, Benchmark, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.

• During a SOFR Benchmark Unavailability Period or at any time that a tenor for the then-current SOFR Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current SOFR Benchmark or such tenor for such SOFR Benchmark, as applicable, will not be used in any determination of Base Rate.

More Definitions of SOFR Benchmark

SOFR Benchmark means, initially, the SOFR Index Average, provided that if a SOFR Benchmark Event has occurred with respect to the SOFR Index Average or the then-current SOFR Benchmark, then “SOFR Benchmark” means the applicable SOFR Benchmark Replacement;

SOFR Benchmark means initially (a) (unless SOFR Compound: SOFR Index with Observation Shift is specified in the relevant Final Terms) SOFR or (b) SOFR Index (each as defined in Condition 6.2.3(d)(iii) above), provided that if a SOFR Transition Event and its related SOFR Replacement Date have occurred with respect to the SOFR or SOFR Index or the then-current SOFR Benchmark, then “SOFR Benchmark” means the applicable SOFR Replacement;

SOFR Benchmark means, initially, the SOFR Index Average, provided that if a SOFR Benchmark Event has occurred with respect to the SOFR Index Average or the then-current SOFR Benchmark, then “SOFR Benchmark” means the applicable SOFR Benchmark Replacement.

SOFR Benchmark means (a) SOFR or (b) the Index Value, as applicable;

SOFR Benchmark means the applicable SOFR Benchmark Replacement;

SOFR Benchmark when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Adjusted Term SOFR Rate.

SOFR Benchmark means (a) (unless "SOFR Index with Observation Shift" is specified in the relevant Final Terms) SOFR or (b) SOFR Index (each as defined in parahraph 11(f)(C) above);