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Hit the Mark with Your SOFR Benchmark Succession Clause

February 01, 2022

Read this article discussing trends in benchmark succession clauses in recent credit agreements using benchmark rates other than LIBOR. Despite the shift away from LIBOR and the critical importance of benchmark replacement setting clauses, benchmark succession clauses remain important in the event the market does not embrace SOFR or other rates now being used in credit agreements, or if the availability of such rates or their tenor changes.

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