Daily Simple SOFR Loan means each Loan bearing interest at a rate based upon Daily Simple SOFR.
Daily Simple SOFR Loan means a Daily Simple SOFR Committed Loan or a Revolving Swing Line Loan, a New Vehicle Floorplan Swing Line Loan or a Used Vehicle Floorplan Swing Line Loan that, in each case, bears interest at a rate based on Daily Simple SOFR.
Examples of Daily Simple SOFR Loan in a sentence
Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Revolving Loan will be a Base Rate Loan, a Daily Simple SOFR Loan or a Term SOFR Loan) request that the Administrative Agent provide the Borrower with the most recent Base Rate, Adjusted Daily Simple SOFR or Adjusted Term SOFR available to the Administrative Agent.
Any prepayment of (x) a Eurocurrency Rate Loan, Term SOFR Loan, XXXXX Rate Loan or Daily Simple SOFR Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05 and (y) Term B-1 Loans hereunder shall be subject to Section 2.05(c).
More Definitions of Daily Simple SOFR Loan
Daily Simple SOFR Loan means any Loan bearing interest at a rate based on Adjusted Daily Simple SOFR.
Daily Simple SOFR Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR. Daily Simple SOFR Replacement Date: as defined in Section 3.6.2. Debt: as applied to any Person, without duplication, (a) all items that would be included as liabilities on a balance sheet in accordance with GAAP, including Capital Leases, but excluding trade payables incurred and being paid in the Ordinary Course of Business; (b) all Contingent Obligations; (c) all reimbursement obligations in connection with letters of credit issued for the account of such Person; and (d) in the case of a Borrower, the Obligations. The Debt of a Person shall include any recourse Debt of any partnership in which such Person is a general partner or joint venturer. Default: an event or condition that, with the lapse of time or giving of notice, would constitute an Event of Default. Default Rate: for any Obligation (including, to the extent permitted by law, interest not paid when due), 2% plus the interest rate otherwise applicable thereto. Defaulting Lender: any Lender that (a) has failed to comply with its funding obligations hereunder, and such failure is not cured within two Business Days of the date required hereunder; (b) has notified Agent or any Borrower that such Lender does not intend to comply with its funding obligations hereunder or under any other credit facility, or has made a public statement to that effect; (c) has failed, within three Business Days following request by Agent or any Borrower, to confirm in a manner satisfactory to Agent and Borrowers that such Lender will comply with its funding obligations hereunder; or (d) other than an Undisclosed Administration, has, or has a direct or indirect parent company that has, become the subject of an Insolvency Proceeding (including reorganization, liquidation, or appointment of a receiver, custodian, administrator or similar Person by the Federal Deposit Insurance Corporation or any other regulatory authority) or Bail-In Action; provided, that a Lender shall not be a Defaulting Lender solely by virtue of a Governmental Authority’s ownership of an equity interest in such Lender or parent company unless the ownership provides immunity for such Lender from jurisdiction of courts within the United States or from enforcement of judgments or writs of attachment on its assets, or permits such Lender or Governmental Authority to repudiate or otherwise to reject such Lender’s agreements. “Delaware Divid...
Daily Simple SOFR Loan means a Loan that bears interest as provided in Section 2.04(a)(iii).
Daily Simple SOFR Loan means any Daily Simple SOFR Term Loan or Daily Simple SOFR Revolving Loan.
Daily Simple SOFR Loan means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Loan bearing interest at a rate based on Adjusted Daily Simple SOFR” for syndicated business loans; provided, that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. (other than pursuant to the Adjusted Daily Simple SOFR component of the definition of “Base Rate”).
Daily Simple SOFR Loan means a Loan accruing Interest at Daily Simple SOFR.