Applicable Daily Simple SOFR Margin definition

Applicable Daily Simple SOFR Margin means, at any time, a rate per annum determined in reference to the rates under the column “Applicable Term SOFR Margin and Applicable Daily Simple SOFR Margin” set forth below on the basis of the Credit Ratings at such time.
Applicable Daily Simple SOFR Margin has the meaning specified in Section 2.10(b).

Related to Applicable Daily Simple SOFR Margin

Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.
Agreement has the meaning set forth in the preamble.
Affiliate of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.
Subsidiary means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code.
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