SOFR Floor definition

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

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SOFR Floor means a rate of interest per annum equal to 0.0%.

SOFR Floor means a rate of interest per annum equal to 50.0 basis points (0.50%). "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.

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.

• 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 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.

• If the SOFR would be less than the SOFR Floor, the SOFR will be deemed to be the SOFR Floor for the purpose of this Debenture.

• SOFR Floor - a rate of interest equal to one percent (1.0%) per annum.

More Definitions of SOFR Floor

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

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

SOFR Floor means 0.00%.

SOFR Floor means a rate of interest equal to 0.00% per annum.

SOFR Floor means a rate of interest equal to 3.0% per annum;

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

SOFR Floor means 0.75% per annum. “SOFR Interpolated Rate” means, for any SOFR Non-Standard Interest Period, the rate per annum determined by the Administrative Agent (which determination shall be presumed correct absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the sum of Term SOFR for the longest term for which the Term SOFR is available that is shorter than such SOFR Non-Standard Interest Period plus 0.10% (10 basis points) and (b) the Term SOFR for the shortest term for which the Term SOFR is available that exceeds such SOFR Non-Standard Interest Period plus 0.10% (10 basis points), in each case, at such time; provided that when determining the SOFR Interpolated Rate for a SOFR Non-Standard Interest Period which is less than one (1) month, the SOFR Interpolated Rate shall be the Term SOFR for SOFR Loans with an Interest Period of one (1) month. “SOFR Loan” refers to a Loan (or Borrowing) bearing interest at a rate determined by reference to Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”. “SOFR Non-Standard Interest Period” means, with respect to a SOFR Loan, an Interest Period which is for a term other than 1, 3 or 6 months. “Solvent” means, with respect to any Person on any date of determination, that on such date, such Person and its Subsidiaries, when taken as a whole on a consolidated basis, (a) have property with a fair value greater than the total amount of their debts and liabilities, contingent, subordinated or otherwise, (b) have assets with present fair salable value not less than the amount that will be required to pay their liability on their debts as they become absolute and matured, (c) will be able to pay their debts and liabilities, subordinated, contingent or otherwise, as they become absolute and matured and (d) are not engaged in business or a transaction, and are not about to engage in business or a transaction, for which they have unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability or, if a different methodology is prescribed by applicable Laws, as prescribed by such Laws. “SPC” has the meaning specified in Section 10.07(g). “Specified Event of Default” means an Event of Default under Section 8.01(a), (f) (with respect to the B...