Examples of Compounded SOFR in a sentence
Class Note Interest Rate Initial Note Balance Class A-1[a] Notes [_]% $[_] [Class A-1b Notes] [Compounded SOFR* + [_]%] [$[_]] Class A-2 Notes [_]% $[_] Class A-3 Notes [_]% $[_] Class B Notes [_]% $[_] Class C Notes [_]% $[_] Class D Notes [_]% $[_] Class E Notes [_]% $[_] _______________ * Upon the occurrence of a Benchmark Transition Event, Compounded SOFR will be replaced by the appropriate Benchmark Replacement as set forth in Section 2.16 of this Indenture.
So long as the Class A-1b Notes are Outstanding, the Note Paying Agent shall obtain Compounded SOFR in accordance with the definition of “Compounded SOFR” on each SOFR Adjustment Date and shall promptly provide such rate to the Administrator or such person as directed by the Administrator.
This Note is one of a duly authorized issue of Class [A-1[a]][A-1b][A-2][A-3][B][C][D][E] [Compounded SOFR +] [___]% Asset Backed Notes (the “Class [A-1[a]][A-1b][A-2][A-3][B][C][D][E] Notes”) of the Trust.