Examples of Reference Rate Loan in a sentence
Interest on each Loan shall be payable (i) in the case of a Reference Rate Loan, monthly, in arrears, on the last Business Day of each month, commencing on the last Business Day of the month following the month in which such Loan is made, (ii) in the case of a SOFR Loan, on the last day of the then effective Interest Period applicable to such Loan, and (iii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise).
Each Revolving Loan that is a Reference Rate Loan shall bear interest on the principal amount thereof from time to time outstanding, from the date of such Loan until repaid, at a rate per annum equal to the Reference Rate plus the Applicable Margin.
Upon receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a borrowing of, conversion to or continuation of a Term SOFR Loan to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of a Reference Rate Loan or conversion to a Reference Rate Loan.
Subject to the terms of this Agreement, at the option of the Borrowerunless the Lenders shall otherwise agree (in their sole discretion), the Term LoanLoans or any portion thereof shall be either a Reference Rate Loan or a SOFR Loan.
Subject to the terms of this Agreement, at the option of the Borrowerunless the Lenders shall otherwise agree (in their sole discretion), each Revolving Loan shall be either a Reference Rate Loan or a SOFR Loan.