Common use of Benchmark Determination Clause in Contracts

Benchmark Determination. (a) On each SOFR Adjustment Date, the Paying Agent shall obtain the SOFR Rate in accordance with the definition thereof and shall send to the Servicer by email transmission notification of the SOFR Rate for the Interest Period. All determinations of the SOFR Rate, in the absence of manifest error, shall be conclusive and binding on the Noteholders.

Benchmark Determination. (a) On each SOFR Adjustment Date, the Paying Agent Administrator shall obtain determine the SOFR Rate in accordance with the definition thereof and shall send to the Servicer by email transmission notification of the SOFR Rate for the Interest Period. All determinations of the SOFR Rate, in the absence of manifest error, shall be conclusive and binding on the Noteholders.