SOFR Index Cessation Event definition

SOFR Index Cessation Event means the occurrence of one or more of the following events:
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SOFR Index Cessation Event means the occurrence of one or more of the following events: (a) a public statement by the Federal Reserve Bank of New York (or a successor administrator of SOFR) announcing that it has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (b) the publication of information which reasonably confirms that the Federal Reserve Bank of New York (or a successor administrator of SOFR) has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (c) a public statement by a U.S. regulator or U.S. other official sector entity prohibiting the use of SOFR that applies to, but need not be limited to, all swap transactions, including existing swap transactions.
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SOFR Index Cessation Event means the occurrence of one or more of the following events as it relates to Daily SOFR:
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Examples of SOFR Index Cessation Event in a sentence

  • If (A) Term SOFR for the duration of the relevant Interest Period is not published by the Term SOFR Administrator or an authorized distributor on an Interest Determination Date and is not otherwise provided by the Term SOFR Administrator on such date and (B) a Term SOFR Index Cessation Event shall not have occurred, then the rate for that Interest Determination Date will be the last provided or published Term SOFR for the duration of the relevant Interest Period.

  • In respect of a SOFR Index Cessation Event, the date on which the FRBNY (or any successor administrator of the Secured Overnight Financing Rate) ceases to publish the Secured Overnight Financing Rate or the date on which the Secured Overnight Financing Rate may no longer be used.

  • If a Tenn SOFR Index Cessation Event has occurred, the rate in respect of an Interest Determination Date occurring on or after the Term SOFR Index Cessation Effective Date will be, subject to subsections (iii) and (iv) below, the Term SOFR Recommended Fallback Rate for the duration of the relevant Interest Period.


More Definitions of SOFR Index Cessation Event

SOFR Index Cessation Event means, in respect of SOFR:
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SOFR Index Cessation Event means the occurrence of either of the following events: (i) a public statement by the Federal Reserve (or a successor administrator of SOFR) announcing that it has ceased to publish or provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to publish or provide the Secured Overnight Financing Rate or (ii) the publication of information that reasonably confirms that the Federal Reserve (or a successor administrator of SOFR) has ceased to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to publish or provide the Secured Overnight Financing Rate.
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SOFR Index Cessation Event. The occurrence of one or more of the following events:
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SOFR Index Cessation Event means the occurrence of one or more of the fol- lowing events:
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SOFR Index Cessation Event means the occurrence of one or more of the following events: (a) a public statement by the Federal Reserve Bank of New York (or a successor administrator of SOFR) announcing that it has ceased or will case to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; (b) the publication of information which reasonably confirms that the Federal Reserve Bank of New York (or a successor administrator of SOFR) has ceased or will cease to provide SOFR permanently or indefinitely, provided that, at that time, there is no successor administrator that will continue to provide SOFR; or (c) a public statement by a regulator or other official sector entity prohibiting the use of SOFR that applies to, but need not be limited to, all swap transactions, including existing swap transactions;
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Related to SOFR Index Cessation Event