Daily Simple RFR Advance definition

Daily Simple RFR Advance means an Advance which bears interest at the Adjusted Daily Simple RFR Rate, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.
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Daily Simple RFR Advance means an Advance which bears interest at the Adjusted Daily Simple RFR Rate.
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Daily Simple RFR Advance means an Advance or Swing Line Loan which, except as otherwise provided in Section 2.12, bears interest at the applicable Adjusted Daily Simple RFR.
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Examples of Daily Simple RFR Advance in a sentence

  • Each Daily Simple RFR Advance shall bear interest from and including the date of the making of such Advance to (but not including) the Payment Date at the Daily Simple Rate changing when and as such Daily Simple Rate changes pursuant to the terms and conditions set forth herein.

  • Each Borrower may elect from time to time, subject to the provisions of Section 2.3 and this Section 2.9, to convert all or any part of a Loan of any Type into any other Type or Types of Loan; provided that (x) any conversion of any Eurocurrency Rate Advance or Term RFR Advance shall be made on, and only on, the last day of the Interest Period applicable thereto and (y) any conversion of any Daily Simple RFR Advance shall be made on, and only on, the occurrence of the Payment Date therefor.

  • Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance or Daily Simple RFR Advance (in each case, other than a Swing Line Loan) converted into an Advance of a different Type on a day other than a Payment Date (or the last day of the month in the case of a Daily Simple RFR Advance) shall be payable on the date of conversion.

  • Each Daily Simple RFR Advance denominated in any Agreed Currency (other than a Swing Line Advance) shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made to (but excluding) the date it is paid, at a rate per annum equal to the Adjusted Daily Simple RFR for such Agreed Currency for such day.

  • The Administrative Agent will notify the Borrower and each applicable Lender of the interest rate applicable to each Term SOFR Advance, Eurocurrency Advance and Daily Simple RFR Advance, as applicable, promptly upon determination of such interest rate and will give the Borrower and each applicable Lender prompt notice of each change in the Alternate Base Rate applicable to any outstanding Advance.

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  • If such Advance is a Daily Simple RFR Advance, at the Daily Simple RFR plus the Applicable Margin.

  • Interest accrued on each Daily Simple RFR Advance (other than a Swing Line Loan) shall be payable in arrears (including the first day of such month but not including the last day of such month) on the last day of each month (or, if such day is not a Business Day, the immediately preceding Business Day) and on any date on which the Daily Simple RFR Advance is prepaid, whether due to acceleration or otherwise, and at maturity.


More Definitions of Daily Simple RFR Advance

Daily Simple RFR Advance means an Advance that bears interest as provided in Section 4.1(e).
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Related to Daily Simple RFR Advance

  • Daily Simple SOFR Loan means a Loan that bears interest at a rate based on Daily Simple SOFR.

  • Daily Simple RFR means, for any day (an “RFR Rate Day”), a rate per annum equal to, for any Obligation, interest, fees, commissions or other amounts denominated in, or calculated with respect to, (a) Pounds Sterling, the greater of (i) XXXXX for the day (such day “i”) that is five RFR Business Days prior to (A) if such RFR Rate Day is an RFR Business Day, such RFR Rate Day or (B) if such RFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such RFR Rate Day, in each case, as such XXXXX is published by the XXXXX Administrator on the XXXXX Administrator’s Website, and (ii) the Floor, and (b) Japanese Yen, the greater of (i) TONAR for the day (such day “i”) that is five RFR Business Days prior to (A) if such RFR Rate Day is an RFR Business Day, such RFR Rate Day or (B) if such RFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such RFR Rate Day, in each case, as such TONAR is published by the TONAR Administrator on the TONAR Administrator’s Website, and (ii) the Floor. If by 5:00 pm (local time for the applicable RFR) on the second (2nd) RFR Business Day immediately following any day “i”, the RFR in respect of such day “i” has not been published on the applicable RFR Administrator’s Website and a Benchmark Replacement Date with respect to the applicable Daily Simple RFR has not occurred, then the RFR for such day “i” will be the RFR as published in respect of the first preceding RFR Business Day for which such RFR was published on the RFR Administrator’s Website; provided that any RFR determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple RFR for no more than three (3) consecutive RFR Rate Days. Any change in Daily Simple RFR due to a change in the applicable RFR shall be effective from and including the effective date of such change in the RFR without notice to the Borrowers.

  • Daily Simple SOFR means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Adjusted Daily Simple SOFR means an interest rate per annum equal to (a) the Daily Simple SOFR, plus (b) 0.10%; provided that if the Adjusted Daily Simple 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.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • SOFR Rate means the rate that will be obtained by the Paying Agent for each Interest Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, means, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Equipment Advance is defined in Section 2.1.1.

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Term Advance has the meaning specified in Section 2.01(a).

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Unapplied Provider Advance means any Provider Advance other than an Applied Provider Advance.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Principal Prepayment Period The month preceding the month in which the related Remittance Date occurs.

  • Applicable Unscheduled Principal Receipt Period With respect to the Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal Receipt Period specified on Schedule I hereto, as amended from time to time by the Master Servicer pursuant to Section 10.01(b) hereof.