Common use of Benchmark Amendments Clause in Contracts

Benchmark Amendments. (a) Notwithstanding any other provision of Condition 5A, the relevant Calculation Agent (if the Calculation Agent is the Principal Paying Agent) or any Paying Agent is not obliged to concur with the relevant Issuer or the Independent Adviser in respect of any changes or amendments as contemplated under Condition 5A to which, in the sole opinion of the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) or the relevant Paying Agent, as the case may be, would impose more onerous obligations upon it or expose it to any additional duties, responsibilities or liabilities or reduce or amend the protective provisions afforded to the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) or the relevant Paying Agent (as applicable) in the Agency Agreement and/or the Conditions. (b) Notwithstanding any other provision of Condition 5A, if following the determination of any Successor Rate, Alternative Rate, Adjustment Spread or Benchmark Amendments (if any), in the Calculation Agent's (if the Calculation Agent is the Principal Paying Agent) opinion there is any uncertainty between two or more alternative courses of action in making any determination or calculation under Condition 5A, the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) shall promptly notify the relevant Issuer thereof and the relevant Issuer shall direct the Calculation Agent if the Calculation Agent is the Principal Paying Agent) in writing as to which alternative course of action to adopt. If the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) is not promptly provided with such direction, or is otherwise unable (other than due to its own gross negligence, willful default or fraud) to make such calculation or determination for any reason, it shall notify the relevant Issuer thereof and the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) shall be under no obligation to make such calculation or determination and (in the absence of such gross negligence, willful default or fraud) shall not incur any liability for not doing so.

Benchmark Amendments. 9.6.1 If, in the Agent Bank’s opinion, either (ai) the use of any benchmark or index specified in the Conditions to calculate any rate of interest and/or (ii) the provisions in 9.6.2 Notwithstanding any other provision of Condition 5A4.4, the relevant Calculation Agent (if the Calculation Agent is the Principal Paying Agent) Bank or any Paying Agent is not obliged to concur with the relevant Issuer or the Independent Adviser in respect of any changes or amendments as contemplated under Condition 5A 4.4 to which, in the sole opinion of the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) Bank or the relevant Paying Agent, as the case may be, would impose more onerous obligations upon it or expose it to any additional duties, responsibilities or liabilities or reduce or amend the protective provisions afforded to the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) Bank or the relevant Paying Agent (as applicable) in the Agency Agreement and/or the these Conditions. (b) 9.6.3 Notwithstanding any other provision of Condition 5A4.4, if following the determination of any Successor Rate, Alternative Rate, Adjustment Spread or Benchmark Amendments (if any), in the Calculation Agent's (if the Calculation Agent is the Principal Paying Agent) Bank’s opinion there is any uncertainty between two or more alternative courses of action in making any determination or calculation under Condition 5A4.4, the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) Bank shall promptly notify the relevant Issuer thereof and the relevant Issuer shall direct the Calculation Agent if the Calculation Agent is the Principal Paying Agent) Bank in writing as to which alternative course of action to adopt. If the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) Bank is not promptly provided with such direction, or is otherwise unable (other than due to its own gross negligence, willful default misconduct or fraud) to make such calculation or determination for any reason, it shall notify the relevant Issuer thereof and the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) Bank shall be under no obligation to make such calculation or determination and (in the absence of such gross negligence, willful default misconduct or fraud) shall not incur any liability for not doing so.

Benchmark Amendments. (a) 5.6.1 Notwithstanding any other provision of Condition 5A, the relevant Calculation Agent (if the Calculation Agent is the Principal Paying Agent) or any Paying Agent is not obliged to concur with the relevant Issuer [and the Guarantor] * or the Independent Adviser in respect of any changes or amendments as contemplated under Condition 5A to which, in the sole opinion of the Calculation Agent (if or the Calculation Agent * Delete where ENEL is the Principal Paying Agent) or Issuer. * Delete where ENEL is the Issuer. relevant Paying Agent, as the case may be, would impose more onerous obligations upon it or expose it to any additional duties, responsibilities or liabilities or reduce or amend the protective provisions afforded to the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) or the relevant Paying Agent (as applicable) in the Calculation Agency Agreement and/or the Conditions. (b) 5.6.2 Notwithstanding any other provision of Condition 5A, if following the determination of any Successor Rate, Alternative Rate, Adjustment Spread or Benchmark Amendments (if any), in the Calculation Agent's (if the Calculation Agent is the Principal Paying Agent) opinion there is any uncertainty between two or more alternative courses of action in making any determination or calculation under Condition 5A, the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) shall promptly notify the relevant Issuer [and the Guarantor] * thereof and the relevant Issuer [and the Guarantor] * shall direct the Calculation Agent if the Calculation Agent is the Principal Paying Agent) in writing as to which alternative course of action to adopt. If the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) is not promptly provided with such direction, or is otherwise unable (other than due to its own gross negligence, willful default or fraud) to make such calculation or determination for any reason, it shall notify the relevant Issuer [and the Guarantor] * thereof and the Calculation Agent (if the Calculation Agent is the Principal Paying Agent) shall be under no obligation to make such calculation or determination and (in the absence of such gross negligence, willful default or fraud) shall not incur any liability for not doing so.