Adjusted SOFR Rate definition

Adjusted SOFR Rate means for any SOFR Borrowing for any Interest Period, an interest rate per annum that is equal to the sum of the SOFR Rate for such Interest Period plus the Applicable Margin.

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Adjusted SOFR Rate means, with respect to a SOFR Rate Advance for the relevant Interest Period, the sum of (a) the SOFR Rate applicable to such Interest Period, plus (b) the Unsecured to Secured Rate Adjustment.

Adjusted SOFR Rate means, for any Floating Interest Period, the rate per annum equal to the Benchmark for such Floating Interest Period plus the Margin.

Examples of Adjusted SOFR Rate in a sentence

Each Loan Request shall (A) specify: (i) the aggregate amount to be borrowed, (ii) the requested Borrowing Date, and (iii) whether the borrowing is to be an Adjusted SOFR Rate Borrowing, an Adjusted Base Rate Borrowing, or a combination thereof and (B) be accompanied by a Borrowing Base Certificate as required by Section 5.09.14.
Subject to the terms of this Section, interest may accrue at the election of the Borrower Representative (a) with respect to Revolving Credit Loans, at the Adjusted SOFR Rate for Interest Periods and on portions of the unpaid principal balances of the Revolving Credit Loans, as selected by the Borrower Representative and (b) with respect to Floor Plan Loans, at the Adjusted Daily SOFR Rate on the principal balances outstanding of the Floor Plan Loans.
Absent a timely election by the Borrower Representative of a SOFR Borrowing in accordance with Section 2.07.2 of this Agreement, the unpaid balances of the Floor Plan Loans (including M&T Advances) and Revolving Credit Loans, including any balances of any Adjusted SOFR Rate Borrowings for which the applicable Interest Period has expired without an effective continuation, shall be deemed automatically to bear interest at the Adjusted Base Rate.
Revolving Credit Loans may consist of Adjusted Base Rate Borrowings or a SOFR Borrowing at the Adjusted SOFR Rate, or a combination thereof, as the Borrowers may request in accordance with the terms hereof.
For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 2.16, each Lender shall be deemed to have funded each SOFR Loan made by it at the Adjusted SOFR Rate for such Loan by a matching deposit or other borrowing in the applicable interbank eurodollar market for a comparable amount and for a comparable period, whether or not such SOFR Loan was in fact so funded.

More Definitions of Adjusted SOFR Rate

Adjusted SOFR Rate means an interest rate per annum equal to (a) the SOFR Rate, plus (b) 0.150000%.

Adjusted SOFR Rate means, for each interest period, the greater of (a) “Term SOFR” and (b) 0.00% per annum. “SOFR Loans” means Bridge Loans bearing interest based upon the Adjusted SOFR Rate. “Term SOFR” means the rate per annum equal to the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to the commencement of such interest period with a term equivalent to such interest period; provided, that, if the rate is not published prior to 11:00 a.m. on such determination date then Term SOFR means the Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto. “Term SOFR Screen Rate” means the forward-looking Secured Overnight Financing Rate term rate administered by CME Group Benchmark Administration Limited (or any successor administrator reasonably satisfactory to the Bridge Administrative Agent) and published on a commercially available source providing such quotations as may be designated by the Bridge Administrative Agent from time to time. “U.S. Government Securities Business Day” means any business day, except any business day on which any of the Securities Industry and Financial Markets Association, the New York Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is a legal holiday under the federal laws of the United States or the laws of the State of New York, as applicable. The Bridge Facility Documentation will include customary provisions that permit the implementation of a replacement benchmark rate to be mutually agreed between the Borrower and the Bridge Administrative Agent.

Adjusted SOFR Rate means, for any Floating Interest Period, the rate per annum equal to the Benchmark for such Floating Interest Period plus the Margin; provided that, if the Adjusted SOFR Rate as so determined shall ever be less than the Floor, then the Adjusted SOFR Rate shall be deemed to be the Floor.

Adjusted SOFR Rate means, for any Tranche Period, an interest rate per annum equal to the sum of the applicable SOFR Rate and the SOFR Adjustment for such Tranche Period.

Adjusted SOFR Rate means the rate of interest per annum equal to the sum obtained,

Adjusted SOFR Rate means the variable annual interest rate equal to 79% of the sum obtained by adding (i) Daily Simple SOFR and (ii) the Margin.

Adjusted SOFR Rate means the rate of interest per annum equal to the product obtained by adding (i) the product of (x) 79% and (y) the Benchmark (provided that if said rate would be less than 0%, then it shall be deemed to be 0%) plus (ii) the Spread, which shall be adjusted with changes in the Benchmark. The Adjusted SOFR Rate shall adjust monthly on the first day of each Interest Period. Any change in the Adjusted SOFR Rate due to a change in the Benchmark shall be effective from and including the effective date of such change in the Benchmark without notice to the County.