Term SOFR Borrowing definition

Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

Term SOFR Borrowing as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing.

Term SOFR Borrowing means any Borrowing comprised of Term SOFR Loans.

Examples of Term SOFR Borrowing in a sentence

• Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make and any right of the Borrower to continue SOFR Loans or to convert ABR Loans to SOFR Loans shall be suspended (to the extent of the affected SOFR Loans or, in the case of a Term SOFR Borrowing, the affected Interest Periods) until the Administrative Agent (with respect to clause (ii), at the instruction of the Required Lenders) revokes such notice.

• If no Interest Period is specified with respect to any requested Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

• Unless the Administrative Agent has notified the Borrower Representative that a Benchmark Transition Event has occurred or Term SOFR is otherwise unavailable, all outstanding Term SOFR Borrowings shall automatically continue, at the end of the Interest Period applicable to such Term SOFR Borrowing, as a Term SOFR Borrowing of the same Interest Period.

• Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request (or to elect to convert to or continue as a Eurocurrency Borrowing or Term SOFR Borrowing) any Eurocurrency Borrowing or Term SOFR Borrowing if the Interest Period requested therefor would end after the Maturity Date.

• Not later than (a) 1:00 P.M. (Charlotte, North Carolina time) on the date of each Base Rate Borrowing and (b) 12:00 Noon (Charlotte, North Carolina time) on the date of each Term SOFR Borrowing, each Lender shall make available its ratable share of such Borrowing, in Federal or other funds immediately available in Charlotte, North Carolina, to the Administrative Agent at its address referred to in Section 9.01.

More Definitions of Term SOFR Borrowing

Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.05(b), bears interest at the applicable Term SOFR Rate.

Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans. “Term SOFR Lending Office” means, as to each Lender, its office, branch or Affiliate located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Term SOFR Lending Office) or such other office, branch or Affiliate of such Lender as it may hereafter designate as its Term SOFR Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Loan” means any 2026 Revolving Loan or 2027 Revolving Loan that bears interest at a rate based on Adjusted Term SOFR other than pursuant to clause (iii) of the definition of “Base Rate”. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means (i) with respect to the 2026 Revolving Loans and 2026 Revolving Commitments, the 2026 Termination Date and (ii) with respect to the 2027 Revolving Loans and 2027 Revolving Commitments, the 2027 Termination Date. “Type”, when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation

Term SOFR Borrowing means, as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing other than pursuant to clause (b) of the definition of “Base Rate”.

Term SOFR Borrowing means a Committed Borrowing consisting of Term SOFR Loans.

Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.08(b), bears interest at the applicable Term SOFR Rate.

Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.05(b), bears interest at the applicable Term SOFR

Term SOFR Borrowing means a Borrowing consisting of Term SOFR Rate Loans. “Term SOFR Rate Lending Office” means, as to each Lender, its office located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Base Rate Lending Office) or such other office as such Lender may hereafter designate as its Term SOFR Rate Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Rate Loan” means a Loan which bears interest by reference to the Adjusted Term SOFR Rate other than pursuant to clause (iii) of the definition of Base Rate.