SOFR Floor definition

SOFR Floor means a rate of interest per annum equal to zero basis points (0.00%).

SOFR Floor means a rate of interest per annum equal to one percent (1.00%).

SOFR Floor means a rate of interest per annum equal to 0%.

Examples of SOFR Floor in a sentence

• As used in this Agreement, the following terms shall have the meanings set forth below: “Adjusted Daily Simple SOFR Rate” means, for purposes of any calculation, the rate per annum equal to the greater of (a) the sum of (i) Daily Simple SOFR for such calculation plus (ii) the SOFR Adjustment and (b) the SOFR Floor.

• If the Term SOFR Rate, determined as provided above, would be less than the SOFR Floor, then the Term SOFR Rate shall be deemed to be the SOFR Floor.

• Adjusted Term SOFR Rate shall mean the Term SOFR Rate, plus the SOFR Adjustment; provided that if the Adjusted Term SOFR Rate as so determined shall ever be less than the SOFR Floor, then the Adjusted Term SOFR Rate shall be deemed to be the SOFR Floor.

• If Daily Simple SOFR as determined above would be less than the SOFR Floor, then Daily Simple SOFR shall be deemed to be the SOFR Floor.

• Using the 1st Mortgage SOFR Floor, as shown on the Final Data File, and the SOFR assumption of 0.60000% provided by the Depositor, we recalculated the “Effective SOFR 1st Mortgage” of the Mortgage Loan.

More Definitions of SOFR Floor

SOFR Floor means a rate of interest per annum equal to 0 basis points (0%)."

SOFR Floor means a rate of interest per annum equal to 100 basis points (1.00%).

SOFR Floor means a rate of interest equal to 3.75%.

SOFR Floor means for the purposes of any calculation, a rate of interest equal to 1.00%.

SOFR Floor shall have the meaning set forth in the Pricing Letter.

SOFR Floor means a rate of interest per annum equal to 0 basis points (0.00%). “SOFR Reserve Percentage” shall mean, for any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to SOFR funding.

SOFR Floor means a rate of interest per annum equal to 150 basis points (1.50%). “SOFR Reserve Percentage” shall mean, for any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to SOFR funding. “Specified Equity Contribution” shall have the meaning set forth in Section 11.6(b) hereof. “Specified Event” shall have the meaning set forth in Section 11.1(d)(i) hereof. “Specified Loan Party” shall mean each non-Wholly Owned Subsidiary that becomes a Loan Party hereunder (to the extent the Equity Interests in such non-Wholly Owned Subsidiary are not permitted to be pledged to the Administrative Agent pursuant to a contractual prohibition (which such contractual prohibition was not entered into in contemplation of such pledge) and no consent has otherwise been received by the minority holders of such Equity Interests to provide such pledge); collectively, the “Specified Loan Parties”. “Subsidiary” shall mean of any Person a corporation or other entity of whose Equity Interests having ordinary voting power (other than Equity Interests having such power only by reason of the happening of a contingency) to elect a majority of the directors or managers of such corporation, or other Persons performing similar functions for such entity, are owned, directly or indirectly, by such Person. Unless the context otherwise requires, each reference to Subsidiaries hereby shall a reference to Subsidiaries of Borrower. “Subsidiary Stock” shall mean with respect to the Equity Interests issued to a Loan Party by any Subsidiary (other than the Specified Loan Parties for so long as the Equity Interests of such Persons constitute Excluded Property), 100% of such issued and outstanding Equity Interests, including, without limitation, all of such Equity Interests identified on Schedule 5.2(b) hereto and in the Collateral Information Certificate. “Swap” shall mean any “swap” as defined in Section 1a(47) of the CEA and regulations thereunder other than (a) a swap entered into on, or subject to the rules of, a board of trade designated as a contract market under Section 5 of the CEA, or (b) a commodity option entered into pursuant to CFTC Regulation 32.3(a). “Taxes” shall mean all present or future taxes, levies, imposts, duties, deductions, withholdin...