Daily Simple SOFR Advance definition

Daily Simple SOFR Advance means an Advance that bears interest at a rate based on Daily Simple SOFR.
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Daily Simple SOFR Advance means an Advance comprised of Daily Simple SOFR Loans.
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Daily Simple SOFR Advance means an Advance that bears interest as provided in Section 2.04(a)(iii).
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Examples of Daily Simple SOFR Advance in a sentence

  • During such periods as such Advance is a Daily Simple SOFR Advance, a rate per annum equal to all times to the sum of (x) the Daily Simple SOFR rate applicable to such Advances, as in effect from time to time (it being understood that Daily Simple SOFR shall be determined on a daily basis) plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last Business Day of each calendar month and the Termination Date, in each case payable in Dollars.


More Definitions of Daily Simple SOFR Advance

Daily Simple SOFR Advance means a Revolving Credit Advance which bears interest at Adjusted Daily Simple SOFR requested by the Borrower pursuant to Section 2.2.
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Daily Simple SOFR Advance means any Loan Advance for which the Benchmark is based on Daily Simple SOFR.
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Daily Simple SOFR Advance if such Revolving Credit Advance is a Daily Simple SOFR Loan; or (iii) a “Term SOFR Advance” if such Revolving Credit Advance is a Term SOFR Loan. “Revolving Credit Borrowing” means borrowing hereunder consisting of Revolving Credit Advances made to Borrower at the same time by the Banks pursuant to Section
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Daily Simple SOFR Advance means a Revolving Advance denominated in Dollars which bears interest as provided in Section 2.10(e). ​
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Related to Daily Simple SOFR Advance

  • 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.

  • 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.

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

  • 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.

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

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

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