Secured Overnight Financing Rate definition

Secured Overnight Financing Rate means the daily secured overnight financing rate as provided by the New York Federal Reserve on the New York Federal Reserve’s Website.

Secured Overnight Financing Rate or “SOFR” means, with respect to any U.S. Government Securities Business Day:

Secured Overnight Financing Rate. The secured overnight financing rate published by the FRBNY on the FRBNY’s Website.

Examples of Secured Overnight Financing Rate in a sentence

• Relevant Time means, the time specified as such on the face of this Note.SOFR means, in respect of any Business Day, a reference rate equal to the daily Secured Overnight Financing Rate as provided by the Federal Reserve Bank of New York, as the administrator of such rate (or any successor administrator of such rate) on the New York Fed’s Website, in each case on or about 5:00p.m. (New York City Time) on the Business Day immediately following such Business Day.

• Interest accrues, at the Company’s option, at either (1) the Secured Overnight Financing Rate (“SOFR”) plus 0.1% plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating, or (2) the base rate, which is the highest of (i) the Prime Rate, (ii) the Federal Funds Effective Rate plus 0.5%, and (iii) Term SOFR for a one-month tenor plus 1.0%, plus a margin ranging from 0.000% to 0.875% based on the Company’s credit rating.

• Borrowings under the revolver portion of the Credit Agreement generally bear interest based on the sum of the forward-looking term rate based on the Secured Overnight Financing Rate (“Term SOFR”) plus a loan margin based on average availability as follows: (a) less than or equal to 33% of average availability, a loan margin of 1.50%, (b) greater than 33% and less than or equal to 66% of average availability, a loan margin of 1.25%, and (c) greater than 66% of average availability, a loan margin of 1.00%.

• The Unsecured Credit Facility is expected to have the following terms:• The loans will be unsecured, unguaranteed and will mature in twelve months from closing.• The loans will carry interest at adjusted Term Secured Overnight Financing Rate (" Term SOFR") plus 9% and interest shall be payable on maturity.

• At the date of this Prospectus, the United States SOFR Secured Overnight Financing Rate (SOFRRATE Index) is provided by the Federal Reserve Bank of New York.

More Definitions of Secured Overnight Financing Rate

Secured Overnight Financing Rate means the Secured Overnight Financing Rate (SOFR) published each Business Day by the Federal Reserve Bank of New York.

Secured Overnight Financing Rate means the Reference Rate provided by the FRBNY, as the administrator of such Reference Rate (or a successor administrator) on the FRBNY’s Website.

Secured Overnight Financing Rate means the Reference Rate provided by the Federal Reserve Bank of New York, as the administrator of such Reference Rate (or a successor administrator) on the Federal Reserve Bank of New York’s Website.

Secured Overnight Financing Rate or "SOFR" means:

Secured Overnight Financing Rate or “SOFR” means the daily Secured Overnight Financing Rate published by the Federal Reserve Bank of New York, as the administrator of the rate (or a successor administrator), on the website Federal Reserve Bank of New York (currently hxxx://xxx.xxxxxxxxxx.xxx), or any successor website.

Secured Overnight Financing Rate means the daily secured overnight financing rate as provided by the New York Federal Reserve on the New York Federal Reserve’s Website.The following procedure will be followed if Compounded SOFR cannot be determined as described above:If the Company or its designee determine on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to this Security in respect of all determinations on such date and for all determinations on all subsequent dates.In connection with the implementation of a Benchmark Replacement, the Company or its designee will have the right to make Benchmark Replacement Conforming Changes from time to time.Any determination, decision or election that may be made by the Company or its designee, including a determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection:

Secured Overnight Financing Rate means the “secured overnight financing rate” which from time to time published in the “Money Rates” column of The Wall Street Journal (Eastern Edition, New York Metro); provided, however, if the Money Rates column of The Wall Street Journal (Eastern Edition, New York Metro) ceases to be published or otherwise does not designate a “secured overnight financing rate” as of a Business Day, the Holder has the right to obtain such information from a similar business publication of its selection.