30-Day Average SOFR definition

30-Day Average SOFR means, for any SOFR Determination Date, the average of SOFR for the preceding 30 calendar days, compounded daily on Business Days.

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30-Day Average SOFR means, for any SOFR Determination Date, the average of SOFR for the preceding 30 calendar days, compounded daily on business days.

30-Day Average SOFR means the 30‐calendar‐day compounded average of SOFR, as published by the Federal Reserve Bank of New York or any successor administrator. See Section 253.2 of the Regulation.

Examples of 30-Day Average SOFR in a sentence

The 30-Day Average SOFR rate will be obtained by the Paying Agent for each Interest Period by referring to the FRBNY’s website at 3:00 p.m. (New York time) on the SOFR Determination Date.
On each SOFR Determination Date, the Paying Agent shall notify the Servicer, the Administrator, the Issuing Entity and the Indenture Trustee by e-mail of 30-Day Average SOFR for the related Interest Period and the Administrator shall use the information in such e-mail to calculate the A-2b Note Rate for the related Interest Period.
All determinations of 30-Day Average SOFR and any calculations of interest of the A-2b Notes by the Administrator, in the absence of manifest error, shall be conclusive and binding on the Servicer, the Issuing Entity, the Indenture Trustee, the Trustee, the Paying Agent, the Noteholders and the Note Owners for all purposes.
If a published 30-Day Average SOFR rate is unavailable on a SOFR Determination Date and a Benchmark Transition Event has not occurred with respect to 30-Day Average SOFR, the A-2b Notes will bear interest at a rate based on 30-Day Average SOFR for the first preceding SOFR Determination Date for which such rate was published on the FRBNY’s Website.
This rate will remain in effect until (i) the next succeeding SOFR Determination Date on which 30-Day Average SOFR can be calculated, if any, or (ii) the Administrator adopts an alternative Benchmark.

More Definitions of 30-Day Average SOFR

30-Day Average SOFR means the average daily SOFR rate for the preceding 30 calendar days to the FRBNY’s Website on any U.S. Government Securities Business Day, compounded daily on Business Days in accordance with each previous Business Day’s posting.]

30-Day Average SOFR means the 30-calendar-day compounded average of SOFR, as published by the Federal Reserve Bank of New York or any successor administrator. See Section 253.2 of the Regulation.

30-Day Average SOFR means the compounded average of the Secured Overnight Financing Rate over a rolling 30-calendar day period as such rate is currently identified on the website of the Federal Reserve Bank of New York, currently at apps.newyorkfed.org/markets/autorates/sofr-avg-ind, or at such other page as may replace such page on the website of the Federal Reserve Bank of New York as “30-Day Average SOFR.”

30-Day Average SOFR means, for any SOFR Determination Date, the average of the daily SOFR for the preceding thirty (30) calendar days, compounded daily on business days. The 30-day Average SOFR rate will be determined by the Indenture Trustee for each Interest Period by referring to a published source of the rate. The calculation agent will determine 30-day average SOFR for each interest period on the SOFR Determination Date. If a published 30-day Average SOFR rate is unavailable on a SOFR Determination Date, the rate will be the 30-day Average SOFR for the most recent business day on which such rate was published. All determinations of 30-day Average SOFR by the Indenture Trustee, in absence of manifest error, will be conclusive and binding on the Noteholders.]

30-Day Average SOFR means, for any day, the rate per annum determined by Lender by dividing (the resulting quotient rounded upwards, at L▇▇▇▇▇’s discretion, to the nearest 1/100th of 1%)

30-Day Average SOFR means the “30-Day Average SOFR published by the SOFR Administrator on the SOFR Administrator Website.

30-Day Average SOFR means, for any day, the rate per annum determined by Lender by dividing (the resulting quotient rounded upwards, at Lender’s discretion, to the nearest 1/100th of 1%) (a) the Published 30-Day Average Rate for such day, by (b) a number equal to 1.00 minus the SOFR Reserve Percentage; provided, however, if 30-Day Average SOFR determined as provided above would be less than zero, then such rate shall be deemed to be zero. The rate of interest will be adjusted automatically as of each Business Day based on changes in 30-Day Average SOFR without notice to the Borrower.