SOFR Adjustment definition

SOFR Adjustment means 0.10% (10 basis points).

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SOFR Adjustment means: (a) with respect to Daily Simple SOFR, 0.10% (10 basis points); and (b) with respect to Term SOFR, (i) 0.10% (10 basis points) for an Interest Period of one month’s duration, (ii) 0.10% (10 basis points) for an Interest Period of three months’ duration, and (iii) 0.10% (10 basis points) for an Interest Period of six months’ duration.

SOFR Adjustment with respect to Daily Simple SOFR means 0.11448% (11.448 basis points); and with respect to Term SOFR means 0.11448% (11.448 basis points) for an interest period of one-month’s duration, 0.26161% (26.161 basis points;) for an interest period of three-month’s duration, 0.42826% (42.826 basis points) for an interest period of six-months’ duration, and 0.71513% (71.513 basis points) for an interest period of twelve–months’ duration.

Examples of SOFR Adjustment in a sentence

• For the avoidance of doubt, any SOFR Adjustment Conforming Changes or any Benchmark Replacement Conforming Changes in any amendment to this Indenture may be retroactive (including retroactive to the Benchmark Replacement Date) and this Indenture may be amended more than once in connection with any SOFR Adjustment Conforming Changes or any Benchmark Replacement Conforming Changes.

• Parent and its Subsidiaries have requested and Administrative Agent and the Revolving Credit Lenders have agreed, among other things, to (i) increase the Revolving Loan to $850,000,000, (ii) remove the SOFR Adjustment, and (iii) modify certain financial covenants applicable solely to the Revolving Credit Facility, each as more particularly set forth herein, which, pursuant to the Existing Credit Agreement, requires the consent of the Revolving Credit Lenders.

• For the avoidance of doubt, any SOFR Adjustment Conforming Changes or any Benchmark Replacement Conforming Changes in any amendment to this Agreement may be retroactive (including retroactive to the Benchmark Replacement Date) and this Agreement may be amended more than once in connection with any SOFR Adjustment Conforming Changes or any Benchmark Replacement Conforming Changes.

• The Administrator shall deliver written notice to each Rating Agency and the Calculation Agent on any SOFR Adjustment Date if, as of the applicable Reference Time, the Administrator has determined with respect to the related Accrual Period that there will be a change in the SOFR Rate or the terms related thereto since the immediately preceding SOFR Adjustment Date due to a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred.

More Definitions of SOFR Adjustment

SOFR Adjustment means 0.10% per annum.

SOFR Adjustment with respect to Daily Simple SOFR means 0.10% (10.0 basis points); and with respect to Term SOFR means 0.10% (10.0 basis points) for an Interest Period of one-month’s duration, three-month’s duration and six-month’s duration.

SOFR Adjustment with respect to Term SOFR means 0.10% (10 basis points).

SOFR Adjustment means, with respect to Term SOFR or Daily Simple SOFR, 0.10% per annum.

SOFR Adjustment with respect to Daily Simple SOFR means 0.10% (10 basis points); with respect to Daily SOFR means 0.10% (10 basis points); and with respect to Term SOFR means 0.10% (10 basis points).

SOFR Adjustment. 0.11448% per annum.

SOFR Adjustment means 0.100% (10.0 basis points) per annum.