SOFR Loans definition

SOFR Loans means Loans accruing interest at an Applicable Rate based upon Term SOFR.

SOFR Loans means Senior Loans bearing interest based upon Daily Compounded SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

SOFR Loans. Loans under any Facility for which the applicable rate of interest is based upon Adjusted Term SOFR.

Examples of SOFR Loans in a sentence

• Interest on SOFR Loans shall be payable on (i) each Interest Payment Date, (ii) the date on which all or any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant to the terms hereof.

• Notwithstanding anything to the contrary, Tranche 1 Revolving Credit Loans shall not be made as Revolver Adjusted Daily Simple SOFR Loans unless at the time of any applicable Borrowing or the commencement of any Interest Period in respect thereof, the applicable Revolver Adjusted Term SOFR Rate or Revolver Term SOFR Rate is not available temporarily or permanently, in which case Tranche 1 Revolving Loans may be incurred or converted to Revolver Adjusted Daily Simple SOFR Loans pursuant to Section 3.07.

• Subject to Section 9.17, each Base Rate Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin for Base Rate Loans; each SOFR Loan shall bear interest at a rate per annum equal to Term SOFR plus the Applicable Margin for SOFR Loans.

• Tranche 1 Revolving Credit Loans may be Base Rate Loans or Revolver SOFR Loans, as further provided herein.

• Each Borrowing of a Loan (other than (x) Extraordinary Advances and (y) a conversion of Loans to the other Type, or a continuation of SOFR Loans) shall constitute a representation and warranty by the Borrower as of the date of such extension of credit that the conditions contained in Section 4.2 and/or this Section 4.3, as applicable, have been satisfied.

More Definitions of SOFR Loans

SOFR Loans means the Borrowings or any portion thereof, made available by the Lenders to a Borrower pursuant to Sections 3.1 or 3.3 and outstanding from time to time, which bear interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate (Canada) Advance”, and on which the applicable Borrower has agreed to pay interest in accordance with Section 3.6(c).

SOFR Loans. Interest Period Percentage One month 0.10% Three months 0.15% Six months 0.25% 58 US-DOCS\121951479.16133960081.2

SOFR Loans the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). “Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark: (1) in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); and (2) in the case of clause (3) of the definition of “Benchmark Transition Event,” the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be no longer representative; provided, that such non-representativeness will be determined by reference to the most recent statement or publication referenced in such clause (3) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date; and. (3) in the case of an Early Opt-in Election, the Business Day specified by the Agent in the notice of the Early Opt-in Election provided to the Lenders, so long as the Agent has not received, by 5:00 p.m. (Central time) on the fifth Business Day after the date notice of such Early Opt-in Election is provided to ...

SOFR Loans based upon the Borrower’s Xxxxx’x Rating and S&P Rating and (ii) with respect to any ABR Loan, the amount specified on Schedule 2.022.02 under the column heading “Applicable Margin - ABR Loans” based upon the Borrower’s Xxxxx’x Rating and S&P Rating.

SOFR Loans means Loans accruing interest at an Applicable Rate based upon the Benchmark.

SOFR Loans means bearing interest based upon the Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “ABR”.

SOFR Loans. Loans the rate of interest applicable to which is based upon Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “ABR”.