9 unchanged sentences
This change is not expected to have a material impact on the fair value of the Company’s variable rate debt.
−Removed: Interest on borrowing from some of the Company’s debt is calculated based upon a London Interbank Offered Rate (“LIBOR”) benchmark interest rate measurement.
−Removed: It is anticipated that the use of LIBOR will be discontinued during the year ending 2021.
+Added: Interest on certain borrowings by the Company is calculated using the London Interbank Offered Rate (“LIBOR”).
+Added: Current expectations are that the use of LIBOR will be discontinued as a benchmark interest rate by mid-2023.
The expected discontinuation of LIBOR will require the Company and its lenders to transition from a LIBOR measurement to an alternative benchmark interest rate.
−Removed: The transition from LIBOR to another benchmark rate or rates could have an adverse impact on the Company’s outstanding debt that currently use LIBOR as a benchmark rate, and ultimately, adversely affect the Company’s financial condition and results of operations.
+Added: The transition from LIBOR to another benchmark rate or rates could have an adverse impact on the cost of certain borrowings by the Company that currently use LIBOR as a benchmark rate, and ultimately, adversely affect the Company’s financial condition and results of operations.
Additional information about the Company’s debt is included in Note 8 to the Consolidated Financial Statements in Item 8 of Part II below.
3 unchanged sentences
The Company had a nominal amount on deposit in money market funds as of December 31, 2020 and 2019.
−Removed: Through its Capital Construction Fund (“CCF”), the Company may, from time to time, invest in money market funds or other eligible investments.
+Added: Through the CCF, the Company may, from time to time, invest in money market funds or other eligible investments.
The Company’s cash deposits in the CCF as of December 31, 2020 and 2019 were nominal.
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.