SOFR Borrowing definition

SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

SOFR Borrowing means a Borrowing that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (iii) of the definition of “Base Rate”.

SOFR Borrowing means an Adjusted Term SOFR Borrowing; provided that, if a replacement of the Benchmark has occurred pursuant to Section 2.12(c) with respect to Adjusted Term SOFR, a Daily Simple SOFR Borrowing.

Examples of SOFR Borrowing in a sentence

• If no Interest Period with respect to any Term SOFR Borrowing or Term CXXXX Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

• The Administrative Agent shall promptly give notice to the Borrower and each Lender of each determination of Adjusted Term SOFR with respect to each SOFR Borrowing.

• The Borrower shall deliver to the Lenders a Borrowing Notice not later than 12:00 Noon, New York City time, two Business Days before the Borrowing Date for each Term SOFR Borrowing, specifying therein the requested (i) date of such borrowing, (ii) the amount of Loans requested in accordance with Section 2.1, (iii) Type of Loans are Term SOFR Loans, and (iv) Borrower’s account for such Loans.

• Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Borrowing of 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 Base Rate Loans.

More Definitions of SOFR Borrowing

SOFR Borrowing means the SOFR Loans comprising a borrowing of Loans.

SOFR Borrowing means each unpaid principal balance of a Loan which accrues interest at calculated based upon SOFR, whether an Adjusted Daily SOFR Borrowing or an Adjusted SOFR Rate Borrowing.

SOFR Borrowing as to any Borrowing, the SOFR Loans comprising such Borrowing. “SOFR Loan” a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”. “Solvent”: with respect to any Person on any date of determination, that on such date (a) the fair value of the assets of such Person and its Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of such Person and its Subsidiaries on a consolidated basis, respectively; (b) the present fair saleable value of the property of such Person and its Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay the probable liability of such Person and its Subsidiaries on a consolidated basis, respectively, on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (c) such Person and its Subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (d) such Person and its Subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are conducted on such date. “SPC”: as defined in Section 9.6(g). “Specified Hedge Agreement”: as defined in clause (i) of the definition of Indebtedness. “Specified Liquefaction Assets”: all of the natural gas liquefaction assets that are owned by the entities described on Schedule 1.1B and which collective comprise the natural gas liquefaction facility referred to by the Borrower as “FLNG 1.” These Specified Liquefaction Assets were assembled in the State of Texas and are planned to be transported in August 2023 from Texas to a location in the Altamira, Mexico region in the Gulf of Mexico. “Standard Securitization Undertakings”: representations, warranties, covenants, indemnities and guarantees of performance entered into by the Borrower or any Subsidiary of the Borrower which the Borrower has determined in good faith to be customary in a Receivables Financing including those relating to the servicing of the assets of a Receivables Subsidiary, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. “Stated Maturity Date...

SOFR Borrowing means, as to any Borrowing, the SOFR Term Loans comprising such Borrowing.

SOFR Borrowing means, as to any Borrowing, the Term SOFR Loans comprising such Borrowing.

SOFR Borrowing means, as to any borrowing of Revolving Advances, the SOFR Loans comprising such borrowing of Revolving Advances.

SOFR Borrowing means a Term SOFR Borrowing and/or a Daily Simple SOFR Borrowing, as the context may require. 1095171012\7\AMERICAS