SOFR Benchmark Transition Event definition

SOFR Benchmark Transition Event means the occurrence of a Benchmark Transition Event with respect to the then-current Benchmark;

SOFR Benchmark Transition Event means, with respect to the then-current SOFR Benchmark, the occurrence of one or more of the following events with respect thereto:

SOFR Benchmark Transition Event means the occurrence of a SOFR Benchmark Event with respect to the then-current SOFR Benchmark;

Examples of SOFR Benchmark Transition Event in a sentence

• Moreover, certain determinations, decisions and elections with respect to the SOFR Benchmark Replacement and any SOFR Benchmark Replacement Conforming Changes, or the occurrence or non-occurrence of a SOFR Benchmark Transition Event, may require the exercise of discretion and the making of subjective judgments by the Issuer or its designee (after consulting with the Issuer).

• If the Issuer determines on or prior to the relevant Reference Time that a SOFR Benchmark Transition Event and its related SOFR 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 such determination on such date and all determinations on all subsequent dates.

• Any such amendment with respect to a Term SOFR Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Agent has posted such proposed amendment to all affected Xxxxxxx and Borrower so long as the Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Requisite Lenders.

• Upon the occurrence of a SOFR Benchmark Transition Event, Section 3.02 provides a mechanism for determining an alternative rate of interest.

• If the Issuer or its designee, after consulting with the Issuer, determines that a SOFR Benchmark Transition Event and related SOFR Benchmark Replacement Date have occurred with respect to SOFR, the applicable SOFR Benchmark Replacement will replace the then-current SOFR Benchmark (which will be a rate based on SOFR at the original issue date of the relevant SOFR Notes) for all purposes relating to such SOFR Notes.

More Definitions of SOFR Benchmark Transition Event

SOFR Benchmark Transition Event means the occurrence of a Benchmark Event (as defined in Condition 5.3(i)) with respect to the then- current Benchmark (as defined in Condition 5.3(i));

SOFR Benchmark Transition Event means the occurrence of a Benchmark Event (as defined in Condition 5.11) with respect to the then-current SOFR Benchmark;

SOFR Benchmark Transition Event means the occurrence of a Benchmark Transition Event with respect to the then-current SOFR Benchmark, whereby references to “Relevant Benchmark” in the definition of “Benchmark Transition Event” shall be deemed to be references to the then-current SOFR Benchmark; and

SOFR Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then current Benchmark (including the daily published component used in the calculation thereof):

SOFR Benchmark Transition Event means the occurrence of a SOFR Benchmark Event with respect to the then-current SOFR.

SOFR Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current benchmark (including the daily published component used in the calculation thereof): (1) if the Reference Rate is Three-Month Term SOFR, (a) the Relevant Governmental Body has not selected or recommended a forward-looking term rate for a tenor of three months based on SOFR, (b) the development of a forward-looking term rate for a tenor of three months based on SOFR that has been recommended or selected by the Relevant Governmental Body is not complete or (c) we determine that theuse of a forward-looking rate for a tenor of three months based on SOFR is not administratively feasible; (2) a public statement or publication of information by or on behalf of the administrator of the Reference Rate (or such component) announcing that such administrator has ceased or will cease to provide the Reference Rate (or such component), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Reference Rate (or such component); (3) a public statement or publication of information by the regulatory supervisor for the administrator of the Reference Rate (or such component), the central bank for the currency of the Reference Rate (or such component), an insolvency official with jurisdiction over the administrator for the Reference Rate (or such component), a resolution authority with jurisdiction over the administrator for the Reference Rate (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for the Reference Rate (or such component), which states that the administrator of the Reference Rate (or such component) has ceased or will cease to provide the Reference Rate (or such component) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Reference Rate (or such component);

SOFR Benchmark Transition Event means, with respect to any SOFR Benchmark, the occurrence of one or more of the following events with respect to such then-current SOFR Benchmark: (1) a public statement or publication of information by or on behalf of the administrator of such SOFR Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all SOFR Available Tenors of such SOFR Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any SOFR Available Tenor of such SOFR Benchmark (or such component thereof); (2) a public statement or publication of information by the regulatory supervisor for the administrator of such SOFR Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator, an insolvency official with jurisdiction over the administrator for such SOFR Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such SOFR Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such SOFR Benchmark (or such component), in each case, which states that the administrator of SOFR such Benchmark (or such component) has ceased or will cease to provide all SOFR Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any SOFR Available Tenor of such SOFR Benchmark (or such component thereof); or (3) a public statement or publication of information by the regulatory supervisor for the administrator of such SOFR Benchmark (or the published component used in the calculation thereof) announcing that all SOFR Available Tenors of such SOFR Benchmark (or such component thereof) are not, or as of a specified future date will not be, representative. For the avoidance of doubt, a “SOFR Benchmark Transition Event” will be deemed to have occurred with respect to any SOFR Benchmark if a public statement or publication of information 92 #95598837v24