SOFR Benchmark Event definition

SOFR Benchmark Event means the occurrence of one or more of the following events with respect to the then-current SOFR Benchmark (including the daily published component used in the calculation thereof):
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SOFR Benchmark Event means the occurrence of a Benchmark Event (as defined in Condition 5.2(i)) with respect to the then- current SOFR Benchmark; and
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SOFR Benchmark Event the later of:
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Examples of SOFR Benchmark Event in a sentence

  • If a SOFR Benchmark Event and its related SOFR Benchmark Replacement Date (each as defined on the reverse of this Security) occurs when any interest rate on the Security (or any component part thereof) remains to be determined by reference to the SOFR Benchmark (as defined on the reverse of this Security), then the provisions of Section 2.02(d) of the Fourth Supplemental Indenture shall apply.

  • The Issuer shall promptly, following the determination of any Benchmark Replacement, Benchmark Replacement Adjustment and the specific terms of any Benchmark Replacement Conforming Changes, determined under this Condition 5.6.7, give notice to the Noteholders of the occurrence of a SOFR Benchmark Event and details of the Benchmark Replacement and (where applicable) the Benchmark Replacement Adjustment, the Benchmark Replacement Conforming Changes and/or the Consequential Amendments.

  • If a SOFR Benchmark Event and its related SOFR Benchmark Replacement Date (each as defined on the reverse of this Security) occurs when any interest rate on the Security (or any component part thereof) remains to be determined by reference to the SOFR Benchmark (as defined on the reverse of this Security), then the provisions of Section 2.02(d) of the Fifth Supplemental Indenture shall apply.

  • In the case of Floating Rate Notes which reference SOFR where Condition 5.6.7 is specified as applicable in the relevant Pricing Supplement where the Issuer determines that a SOFR Benchmark Event and its related Benchmark Replacement Date have occurred, a Benchmark Replacement (as determined in accordance with Condition 5.6.7) will replace the then-current Benchmark for all purposes relating to such Notes in respect of all determinations on such date and for all determinations on all subsequent dates.

  • If the Issuer determines on or prior to the relevant Reference Time that a SOFR Benchmark Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Notes in respect of all determinations on such date and for all determinations on all subsequent dates.