Daily SOFR definition

Daily SOFR means the rate per annum equal to SOFR determined for any day pursuant to the definition thereof plus the SOFR Adjustment. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

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Daily SOFR means Daily Simple SOFR.

Daily SOFR means, with respect to any U.S. government securities business day prior to a Benchmark Replacement Date:

Examples of Daily SOFR in a sentence

The Loans comprising each Daily SOFR Borrowing (including each Swingline Loan) shall bear interest at Daily SOFR plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in Daily SOFR.
Each Lender at its option may make any Term Benchmark Loan or Daily SOFR 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.
At the time that each Daily SOFR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $5,000,000 and not less than $10,000,000.
Borrowings also may be classified and referred to by Class (e.g., a Revolving Borrowing or a Swingline Borrowing) or by Type (e.g., a Term Benchmark Borrowing , Daily SOFR Borrowing or ABR Borrowing).
For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a Revolving Loan or a Swingline Loan) or by Type (e.g., a Term Benchmark Loan, Daily SOFR Loan or ABR Loan).

More Definitions of Daily SOFR

Daily SOFR means, with respect to any Indexed Accrual Period, the per annum rate that is posted on the Federal Reserve’s Website after 2:30 p.m., New York City time, on the Index Determination Date with respect to such Indexed Accrual Period as the Secured Overnight Financing Rate for the U.S. Government Securities Business Day immediately preceding such Index Determination Date.

Daily SOFR means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the Daily SOFR Administrator on the Daily SOFR Administrator’s Website at approximately 8:00 a.m. (New York City time), or in the case of an update to such rate by the Daily SOFR Administrator, at approximately 2:30 p.m. (New York City time), on the immediately succeeding Business Day.

Daily SOFR means the rate per annum equal to Daily Simple SOFR determined five (5) U.S. Government Securities Business Days prior to such day pursuant to the definition thereof. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

Daily SOFR with respect to any applicable determination date means the SOFR for the day that is five (5) U.S. Government Securities Business Days prior to (i) if such determination date is a U.S. Government Securities Business Day, such determination date or (ii) if such determination date is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such determination date, in each case, as such SOFR is published on the Federal Reserve Bank of New York’s website (or any successor source), plus the SOFR Adjustment. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If Daily SOFR as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

Daily SOFR with respect to any applicable determination date means the SOFR published on such date on the Federal Reserve Bank of New York’s website (or any successor source).

Daily SOFR means a rate equal to the secured overnight financing rate as administered by the Federal Reserve Bank of New York (or a successor administrator).

Daily SOFR means the rate per annum equal to SOFR determined for any day pursuant to the definition thereof plus the SOFR Adjustment. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than 0.0%, such rate shall be deemed to be 0.0% for purposes of this Agreement.