Daily Simple SOFR Rate Option definition

Daily Simple SOFR Rate Option means the option of the Borrower to have all or any portion of any Loan bear interest at the rate and under the terms set forth in Section 2.2(a)(iv).
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Daily Simple SOFR Rate Option means the option of the Company to have Loans bear interest at the Daily Simple SOFR Rate.
Sample 1
Daily Simple SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms set forth in Section 2.08. “Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. “Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. “Defaulting Lender” means, subject to Section 2.21(c), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower Representative in writing that such failure is the result of such Xxxxxx’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any Issuing Bank, any Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two Business Days of the date when due; (b) has notified the Borrower Representative, the Administrative Agent or any Issuing Bank or Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement 14
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Examples of Daily Simple SOFR Rate Option in a sentence

  • If no Interest Rate Option is timely selected when a Loan is requested or with respect to the end of any applicable Quoted Rate period for a Loan or prior to a requested conversion to a Quoted Rate Option for a Loan previously subject to a different Interest Rate Option, the Company shall be deemed to have selected a Daily Simple SOFR Rate Option for such Loan.

  • Upon a conversion from the Term SOFR Rate Option or the Daily Simple SOFR Rate Option to another Interest Rate Option, interest at the other Interest Rate Option shall commence on the last day of the existing Interest Period.

  • If all or a portion of the Term Loan is subject to the Base Rate Option or Daily Simple SOFR Rate Option, interest on such portion of the Term Loan shall be due and payable in arrears on each applicable Interest Payment Date.

  • If all or a portion of any Loan is subject to the Base Rate Option or Daily Simple SOFR Rate Option, interest on such portion of such Loan shall be due and payable in arrears on each applicable Interest Payment Date.

  • If at any time the Agent makes a determination under Section 3.5(a) and the Borrower has previously notified the Agent of its selection of, conversion to or renewal of a Term SOFR Rate Option or a Daily Simple SOFR Rate Option, as applicable, and such Interest Option has not yet gone into effect, such notification shall be deemed to provide for selection of, conversion to or renewal of the Base Rate Option otherwise available with respect to such Loans.

  • Upon a conversion from a Term SOFR Rate Loan or Quoted Rate Loan to a Daily Simple SOFR Rate Loan, interest at the Daily Simple SOFR Rate Option shall commence on the last day of the existing Interest Period or Quoted Rate Period, as applicable.

  • Such Loan Request shall be subject to the occurrence of the Closing Date or the effectiveness of an Incremental Term Loan, as applicable, but otherwise shall be irrevocable and shall specify (x) the Interest Period or Quoted Rate Period, if applicable, and (y) whether such Term Loan Advance shall be subject to the Term SOFR Rate Option, the Quoted Rate Option, the Daily Simple SOFR Rate Option or the Base Rate Option.

  • Such Loan Request shall be subject to the occurrence of the Closing Date but otherwise shall be irrevocable and shall specify (x) the Interest Period, if applicable, and (y) whether the Term Loan shall be subject to the LIBORTerm SOFR Rate Option, the Quoted Rate Option, the Daily Simple SOFR Rate Option or the Base Rate Option.

  • Such Loan Request shall be subject to the occurrence of the Closing Date but otherwise shall be irrevocable and shall specify (x) the Interest Period, if applicable, and (y) whether the Term Loan shall be subject to the Term SOFR Rate Option, the Quoted Rate Option, the Daily Simple SOFR Rate Option or the Base Rate Option.


More Definitions of Daily Simple SOFR Rate Option

Daily Simple SOFR Rate Option means the option of the Company to have Loans bear interest at the Daily Simple SOFR Rate. “Daily Simple SOFR Rate Spread” shall have the meaning set forth in the applicable Note.
Sample 1
Daily Simple SOFR Rate Option means the option of the Company to have Loans bear interest at the Daily Simple SOFRRate.
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Related to Daily Simple SOFR Rate Option

  • Daily Simple SOFR Loan means any Loan that bears interest at a rate determined by reference to the Adjusted Daily Simple SOFR.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

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

  • 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.

  • Rate Option means the Eurodollar Rate or the Floating 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.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, 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.

  • Term SOFR Screen Rate means the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

  • LIBOR Screen Rate means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).

  • Other Rate Early Opt-in means the Administrative Agent and the Company have elected to replace LIBOR with a Benchmark Replacement other than a SOFR-based rate pursuant to (1) an Early Opt-in Election and (2) Section 3.03(c)(ii) and paragraph (2) of the definition of “Benchmark Replacement”.

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.

  • SOFR Rate Day has the meaning specified in the definition of “Daily Simple SOFR”.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • USD LIBOR means the London interbank offered rate for U.S. dollars.

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate.

  • CDOR Screen Rate has the meaning assigned to such term in the definition of the term “CDOR Rate”.

  • Base Rate Portion of any Loan or Loans shall mean at any time the portion, including the whole, of such Loan or Loans bearing interest at such time (i) under the Base Rate Option or (ii) in accordance with Section 2.09(c)(ii) hereof. If no Loan or Loans is specified, "Base Rate Portion" shall refer to the Base Rate Portion of all Loans outstanding at such time.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Base LIBOR Rate means the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/16%), on the basis of the rates at which Dollar deposits are offered to major banks in the London interbank market on or about 11:00 a.m. (California time) 2 Business Days prior to the commencement of the applicable Interest Period, for a term and in amounts comparable to the Interest Period and amount of the LIBOR Rate Loan requested by Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.