Average SOFR definition

Average SOFR as the Reference Rate; and (3) “Index Determination” to be “Not Applicable”, the Rate of Interest for an Interest Period will, subject to Condition 3(b)(ix) (Benchmark Discontinuation – SOFR) and as provided below, be the Average SOFR Rate with respect to such Interest Period plus or minus (as indicated in the applicable Final Terms) the applicable Margin (if any).
Sample 1Sample 2Sample 3
Average SOFR means, as of any date of determination, the average Term SOFR with respect to the two most recently ended calendar months.
Sample 1Sample 2
Average SOFR means, with respect to an Interest Period the arithmetic mean of SOFR in effect during such Interest Period as calculated by the Agent or the Calculation Agent, as applicable, on the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest fifth decimal place, with 0.000005 being rounded upwards):
Sample 1Sample 2

Examples of Average SOFR in a sentence

  • The “Index” is a benchmark, known as the 30-day Average SOFR index.

  • For information on how the 30-day Compound Average SOFR is calculated, click here.

  • This Note is a Fixed Rate Note, a Floating Rate Note (which shall include a XXXXX Linked Interest Note, a Compounded Daily SOFR Linked Interest Note or a Weighted Average SOFR Linked Interest Note if this Note is specified as such in the Final Terms or Pricing Supplement) or a Zero Coupon Note or a combination of any of the foregoing, depending upon the Interest Basis and Redemption Basis shown hereon.

  • No representation is made regarding Mortgage Loan prepayment rates, Underlying Certifi- cate payment rates, 30-day Average SOFR levels or the yield of any Class.

  • If Screen Rate Determination is specified in the relevant Final Terms or Pricing Supplement as the manner in which the Rate(s) of Interest is/are to be determined and the applicable Reference Rate is Weighted Average SOFR, the Rate of Interest applicable to the Notes for each Interest Accrual Period will be the sum of the Margin and Weighted Average SOFR determined by the Calculation Agent in relation to such Interest Accrual Period.

  • To be included where the Reference Rate is SOFR Benchmark and the SOFR Benchmark is Compounded SOFR Average: SOFR Observation Shift, SOFR Lockout or SOFR Observation Lag.

  • Interest shall be computed on the basis of 365 days in a year and actual days elapsed (the amount of interest accrued during each applicable Loan Accrual Period, (i) with respect to any Loan other than a Floating Rate 30-Day Average SOFR Loan, the “Monthly Loan Interest Expense Amount” and (ii) with respect to any Floating Rate 30-Day Average SOFR Loan, the “Quarterly Loan Interest Expense Amount”).

  • High levels of 30-day Average SOFR can reduce the yield of the Inverse Floating Rate Classes.

  • Where the Reference Rate is specified as being Weighted Average SOFR, the Rate of Interest for each Interest Period will, subject as provided below, be Weighted Average SOFR plus or minus (as indicated in the Final Terms) the Margin (if any), all as determined by the Calculation Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the Final Terms) on the Interest Determination Date for such Interest Period.

  • Interest Period Dates should be specified explicitly where the Reference Rate is SOFR Benchmark and the SOFR Benchmark is Compounded SOFR Average: SOFR Payment Delay, as in that case Specified Interest Payment Dates will not fall on Interest Period Dates.


More Definitions of Average SOFR

Average SOFR means, for any Interest Period for any Average SOFR Advance, a rate per annum (rounded upward to the next one-sixteenth of one percent (0.0625%), if necessary), equal to the greater of (a) “30-Day Average SOFR” (as revised if applicable) published by the SOFR Administrator on the SOFR Administrator’s Website on the date that is the first day of such Interest Period for such Average SOFR Advance, and (b) one percent (1.00%).
Sample 1
Average SOFR means, for a given Interest Period, the arithmetic average of SOFR for each day in the related Interest Period.
Sample 1

Related to Average SOFR

  • Average weekly discharge limitation means the highest allowable average of "daily discharges'' over a calendar week, calculated as the sum of all "daily discharges'' measured during a calendar week divided by the number of "daily discharges'' measured during that week. Each of the following 7-day periods is defined as a calendar week: Week 1 is Days 1 - 7 of the month; Week 2 is Days 8 - 14; Week 3 is Days 15 - 21; and Week 4 is Days 22 - 28. If the "daily discharge" on days 29, 30 or 31 exceeds the "average weekly" discharge limitation, Ohio EPA may elect to evaluate the last 7 days of the month as Week 4 instead of Days 22 - 28. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Average monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Weighted Average Life means, as of any date, with respect to any debt security, the quotient obtained by dividing (i) the sum of the products of the number of years from such date to the dates of each successive scheduled principal payment (including any sinking fund payment requirements) of such debt security multiplied by the amount of such principal payment, by (ii) the sum of all such principal payments.

  • Average weekly wage means the amount derived by dividing an

  • Average Closing Price means the average of the closing market prices of a Share over the last five (5) Market Days on which transactions in the Shares were recorded on the SGX-ST immediately preceding the date of the Market Purchase by the Company or, as the case may be, the date of the making of the offer pursuant to the Off-Market Purchase, and deemed to be adjusted for any corporate action that occurs after the relevant five-day period; and