Examples of SOFR Business Day in a sentence
Each Request for Draw must be received by the Purchaser not later than 12:00 noon Cleveland, Ohio time (9:00 a.m. Pacific time) one SOFR Business Day immediately prior to the requested date of the Draw (the “Draw Date”).
The Issuer Owner Trustee will not have any obligation to determine SOFR, 30-day average SOFR, any SOFR Determination Date, or any SOFR Business Day, will have no liability for any such determinations made by the Indenture Trustee and will have no obligation to determine any alternative benchmark rate adopted by the Sponsor.
For any day (a “SOFR Rate Day”), a rate per annum equal to SOFR for the day (such day, the “ SOFR Determination Day”) that is five (5) SOFR Business Days prior to (i) if such SOFR Rate Day is a SOFR Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a SOFR Business Day, the SOFR Business Day immediately preceding such SOFR Rate Day, in each case, as and when SOFR for such SOFR Rate Day is published by the Daily Simple SOFR Administrator on the SOFR Administrator’s Website.
A Notice of Conversion/Continuation received after 10:00 a.m. shall be deemed received on the next Business Day, Term SOFR Business Day or CDOR Business Day, as applicable.
A Notice of Borrowing received after 10:00 a.m. shall be deemed received on the next Business Day, Term SOFR Business Day or CDOR Business Day, as applicable.