Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
Adjusted Term SOFR Rate means, for purposes of any calculation, the rate per annum equal to the greater of (a) the sum of (i) Term SOFR Rate for such calculation plus (ii) the SOFR Adjustment and (b) the SOFR Floor.
Adjusted Term SOFR Rate means with respect to any Borrower the Term SOFR Rate plus the Applicable Percentage for Term SOFR Loans for the relevant Borrower plus 0.10%. Notwithstanding the foregoing, if the Adjusted Term SOFR Rate at any time shall be less than zero, such rate shall be deemed to be zero for purposes of this Credit Agreement.
Examples of Adjusted Term SOFR Rate in a sentence
The Loans comprising each Term Benchmark Borrowing shall bear interest at the Adjusted Term SOFR Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.
The Adjusted Term SOFR Rate shall be rounded upward to the fourth decimal place.
Subject to adjustment as set forth herein, each Note shall bear interest at a rate per annum equal to the lesser of (i) the applicable Maximum Interest Rate and (ii) the Adjusted Term SOFR Rate.
A determination of the applicable Alternate Base Rate, Adjusted Term SOFR Rate, Term SOFR Rate, Adjusted Daily Simple SOFR or Daily Simple SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Pursuant to Section 2.04 hereof, the Bank shall determine the initial Adjusted Term SOFR Rate two U.S. Government Securities Business Days prior to the related Settlement Date.
More Definitions of Adjusted Term SOFR Rate
Adjusted Term SOFR Rate means, with respect to a Term SOFR Advance for the relevant Interest Period, the sum of (a) Adjusted Term SOFR applicable to such Interest Period plus (b) the Applicable Margin for Term SOFR Advances.
Adjusted Term SOFR Rate means, with respect to any Term Benchmark Borrowing for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b)(x) in the case of an Interest Period that is one month in duration, 0.10%, (y) in the case of an Interest Period that is three months in duration, 0.15% and (z) in the case of an Interest Period that is six months in duration, 0.25%.
Adjusted Term SOFR Rate means the Term SOFR Rate, plus 0.10%. Notwithstanding anything to the contrary set forth above, in the event the rate determined pursuant to the preceding sentence shall be less than zero, then (for the avoidance of doubt) the Adjusted Term SOFR Rate shall be deemed to be zero for purposes of this Agreement.
Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus(b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
Adjusted Term SOFR Rate means for any Available Tenor and Interest Period with respect to a Term SOFR Loan, the greater of (a) the Floor and (b) the forward-looking term rate for a period comparable to such Available Tenor based on SOFR that is published by CME Group Benchmark Administration Ltd (“CBA”) (“Term SOFR”) and displayed on CME’s Market Data Platform (or other commercially available source providing such quotations as may be selected by the Administrative Agent from time to time), at approximately 11:00 a.m. New York City time, two Business Days (the “Lookback Day”) prior to the commencement of such Interest Period (and rounded to the nearest 1/16th of 1%); provided that if by 5:00 pm (New York City time) on any Lookback Day, any Available Tenor of Term SOFR for such day has not been published, then such Available Tenor of Term SOFR for such day will be such Available Tenor of Term SOFR as published in respect of the first preceding SOFR Business Day for which such rate was published; provided, further, that any such preceding SOFR Business Day for which such rate was published shall be no more than three (3) SOFR Business Days prior to such Lookback Day.
Adjusted Term SOFR Rate means for any Available Tenor and Settlement Period, the greater of (a) the Floor and (b) the sum of Term SOFR for such Settlement Period and 0.11448% (11.4480.10% (10.00 basis points).
Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to the Term SOFR Rate plus, solely with respect to 2018 Incremental Term Loans, (i) with respect to an Interest Period of one month, 0.11448% per annum, (ii) with respect to an Interest Period of three months, 0.26161% per annum, and (iii) with respect to an Interest Period of six months, 0.42826% per annum; provided, that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.