Adjusted Term SOFR Rate definition
Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
Adjusted Term SOFR Rate means, for purposes of any calculation, the rate per annum equal to the greater of (a) the sum of (i) Term SOFR Rate for such calculation plus (ii) the SOFR Adjustment and (b) the SOFR Floor.
Adjusted Term SOFR Rate means, with respect to any Term Benchmark Borrowing denominated in Dollars for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Term SOFR Rate for such Interest Period, plus (b) the Term SOFR Adjustment; provided that if such rate shall be less than zero (0.00%), the Adjusted Term SOFR Rate shall be deemed to be zero (0.00%) for purposes of this Agreement and the other Loan Documents.
Examples of Adjusted Term SOFR Rate in a sentence
The applicable Alternate Base Rate, Term SOFR Rate, Adjusted Term SOFR Rate, Daily Simple SOFR or Adjusted or Daily Simple SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
The Term Loans comprising each Term Benchmark Borrowing of 2019 New Term Loans or Term B-3 Loans shall bear interest at the Adjusted Term SOFR Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.
More Definitions of Adjusted Term SOFR Rate
Adjusted Term SOFR Rate means (i) for any Amendment No. 8 Term Loan, an interest rate per annum equal to the Term SOFR Rate for the applicable Interest Period plus 0.00% and (ii) for any Revolving Loan, an interest rate per annum equal to the Term SOFR Rate for the applicable Interest Period plus (x) for a one month Interest Period, 0.10%, (y) for a three month Interest Period, 0.15% and (z) for a six month Interest Period, 0.25%.
Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than 0.00%, such rate shall be deemed to be equal to 0.00% for the purposes of this Agreement.
Adjusted Term SOFR Rate means the Term SOFR Rate, plus 0.10%. Notwithstanding anything to the contrary set forth above, in the event the rate determined pursuant to the preceding sentence shall be less than zero, then (for the avoidance of doubt) the Adjusted Term SOFR Rate shall be deemed to be zero for purposes of this Agreement.
Adjusted Term SOFR Rate means, for purposes of any calculation, the rate per annum equal to (a) Term SOFR Rate for such calculation plus (b) the applicable Term SOFR Adjustment; provided, in each case, that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this agreement.
Adjusted Term SOFR Rate means for any Available Tenor and Interest Period with respect to a SOFR Advance, the sum of (a) Term SOFR for such Interest Period and (b) the Term SOFR Index Adjustment; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, then the Adjusted Term SOFR Rate shall be deemed to be the Floor.
Adjusted Term SOFR Rate set forth in Section 1.01 of the Existing Credit Agreement is hereby deleted in its entirety and all references to “Adjusted Term SOFR Rate” in the Existing Credit Agreement are hereby replaced with “Term SOFR Rate”.
Adjusted Term SOFR Rate means, an interest rate per annum equal to the sum of: (i) the Term SOFR Rate for the applicable interest period and (ii) 0.10% (10 basis points); provided that the Adjusted Term SOFR Rate will be no less than 0.75% per annum. Loans that bear interest based upon Adjusted Term SOFR Rate are referred to as “Term SOFR Rate Loans”.