Common use of Availability of Types of Advances Adequacy of Interest Rate Benchmark Replacement Clause in Contracts

Availability of Types of Advances Adequacy of Interest Rate Benchmark Replacement. (a) Availability of Term SOFR Advances and Swing Line Loans accruing interest at the Term SOFR Swingline Rate. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, but subject to Section 3.3(b), if the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Required Lenders notify the Administrative Agent that the Required Lenders have determined, that: (i) for any reason in connection with any request for a Term SOFR Advance or a Swing Line Loan accruing interest at the Term SOFR Swingline Rate or a conversion or continuation thereof that the Adjusted Term SOFR Screen Rate for any requested Interest Period with respect to a proposed Term SOFR Advance or Term SOFR Swingline Loan does not adequately and fairly reflect the cost to such Lenders of the funding such Loans, or (ii) the interest rate applicable to Term SOFR Advances or Swing Line Loans accruing interest at the Term SOFR Swingline Rate for any requested Interest Period is not ascertainable or available (including, without limitation, because the applicable Screen (or on any successor or substitute page on such screen) is unavailable) and such inability to ascertain or unavailability is not expected to be permanent, then the Administrative Agent shall suspend the availability of Term SOFR Advances and Swing Line Loans accruing interest at the Term SOFR Swingline Rate and require any such affected Term SOFR Advances or Swing Line Loans to be repaid or converted to Base Rate Advances or Swing Line Loans accruing interest at the Base Rate, subject to the payment of any funding indemnification amounts required by Section 3.4.