Benchmark Loan definition

Benchmark Loan means any Advance which bears interest at or by reference to the Benchmark.

Benchmark Loan. Any Revolving Loan which bears interest at the Benchmark, other than pursuant to clause (c) of the definition of Base Rate.

Benchmark Loan means a Loan in the amount of $14,500,000 made by Lender to Borrower under this Agreement in order to consummate the Benchmark Acquisition.

Examples of Benchmark Loan in a sentence

• Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Term Benchmark Loan or RFR Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Loan or Letter of Credit is denominated in a Foreign Currency, such amount shall be the relevant Foreign Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Foreign Currency).

• Each Lender at its option may make any Term Benchmark Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

• Each Term Benchmark Loan shall be denominated in an Agreed Foreign Currency (other than GBP) or Dollars.

More Definitions of Benchmark Loan

Benchmark Loan. – means the portion of the Loan which is subject to a Calculated Rate. In the event Borrower is subject to a principal amortization schedule under the terms and conditions of the Loan Documents, the Benchmark Portion for any calendar month shall not include the amount of any principal prepayment required to be made during such calendar month pursuant to Section 2.12.

Benchmark Loan any Daily Simple SOFR Loan or Euribor Rate Loan.

Benchmark Loan means any and all Loans, each bearing interest at the then applicable Benchmark. For avoidance of doubt, any references in the Credit Agreement to Eurodollar Rate Loan or Base Rate Loan shall be deemed a reference to a “Benchmark Loan”.

Benchmark Loan means any Loan that bears interest at rates based upon the Benchmark. “Benchmark Replacement” shall mean, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date: (a) the sum of: (i) Daily Simple SOFR and (ii) the related Benchmark Replacement Adjustment; or (b) the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant

Benchmark Loan. Any Revolving Loan which bears interest at the Benchmark.

Benchmark Loan means (a) any SOFR Loan; provided that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark Replacement thereof, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 13.4; and (b) any CAD Benchmark Loan.

Benchmark Loan means the portion of the Loan which is subject to a Calculated Rate. In the event Borrower is subject to a principal amortization schedule under the terms and conditions of the Loan Documents, the Benchmark Portion for any calendar month shall not include the amount of any principal prepayment required to be made during such calendar month pursuant to Section 2.12.