Published Rate Replacement Event definition

Published Rate Replacement Event means, in relation to ▇▇▇▇▇:

Published Rate Replacement Event means, in relation to a Published Rate: (a) the methodology, formula or other means of determining that Published Rate has, in the opinion of the Agent (acting on the instructions of the Majority Lenders) and the Obligors materially changed; (b)

Published Rate Replacement Event means, in relation to a Published Rate: (a) the methodology, formula or other means of determining that Published Rate has, in the opinion of the Majority Banks and the Borrowers, materially changed; (A) the administrator of that Published Rate or its supervisor publicly announces that such administrator is insolvent; or (B) information is published in any order, decree, notice, petition or filing, however described, of or filed with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body which reasonably confirms that the administrator of that Published Rate is insolvent, provided that, in each case, at that time, there is no successor administrator to continue to provide that Published Rate; (ii) the administrator of that Published Rate publicly announces that it has ceased or will cease to provide that Published Rate permanently or indefinitely and, at that time, there is no successor administrator to continue to provide that Published Rate; (iii) the supervisor of the administrator of that Published Rate publicly announces that such Published Rate has been or will be permanently or indefinitely discontinued; or (iv) the administrator of that Published Rate or its supervisor announces that that Published Rate may no longer be used; or (c) the administrator of that Published Rate (or the administrator of an interest rate which is a constituent element of that Published Rate) determines that that Published Rate should be calculated in accordance with its reduced submissions or other contingency or fallback policies or arrangements and either: (i) the circumstance(s) or event(s) leading to such determination are not (in the opinion of the Majority Banks and the Borrowers) temporary; (ii) that Published Rate is calculated in accordance with any such policy or arrangement for a period no less than the applicable Published Rate Contingency Period; or (d) in the opinion of the Majority Banks and the Borrowers, that Published Rate is otherwise no longer appropriate for the purposes of calculating interest under this Agreement.

Published Rate Replacement Event means, in relation to SONIA:

Published Rate Replacement Event means (i) in the reasonable opinion of the Bank, the methodology, formula or other means of determining the RFR has materially changed or (ii) the administrator of the RFR announces that (a) it is insolvent or that it shall cease to provide the RFR (and there is no successor administrator) or (b) such RFR may no longer be used or shall be indefinitely or permanently discontinued or (c) a supervisor or administrator of such RFR publicly announces that RFR is no longer or, as of a specified future date will no longer be, representative of the underlying market or the economic reality that it is intended to measure and that such representativeness will not be restored.

Published Rate Replacement Event means, in relation to Published Rate:

Published Rate Replacement Event has the meaning given to it in Clause 38.2 (Changes to reference rate).

Published Rate Replacement Event has the meaning ascribed to such term in Clause 6.1B (Unavailability or changes to reference rates).