Exposure Draft of LIBOR Replacement Provisions for Amendment of CLO Indenture (October 1, 2020)

The purpose of the operative Libor replacement provisions and accompanying form of supplemental indenture is to provide a template for CLO investors and transaction parties to use in connection with a CLO transaction that does not already contain provisions to effect the transition or fallback from Libor to a non-Libor benchmark rate upon the occurrence of certain Libor transition events.

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