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 zero basis points (0.00%). “SOFR Reserve Percentage” means, 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 0 basis points (0.00%). “SOFR Rate” means, at any time of determination, with respect to any Purchaser, Daily 1M SOFR or the Term SOFR Rate, as determined pursuant to Section 2.05, provided, however, that the SOFR Rate applicable to any Term SOFR Tranche funded pursuant to an Investment that occurs other than on a Monthly Settlement Date shall be Daily 1M SOFR for each day during the initial Yield Period applicable to such Term SOFR Tranche from the date such Investment is made pursuant to Section 2.01 until the next occurring Monthly Settlement Date. “Sold Assets” has the meaning set forth in Section 2.01(b). “Sold Receivables” means, collectively, (i) the Pool Receivables specified as “Sold Receivables” on the Initial Schedule of Sold Receivables and (ii) all additional Pool Receivables specified as “Sold Receivables” on the Investment Requests delivered with respect to all subsequent Investments made hereunder. “Solvent” means, with respect to any Person and as of any particular date, (i) the present fair market value (or present fair saleable value) of the assets of such Person is not less than the total amount required to pay the probable liabilities of such Person on its total existing debts and liabilities (including contingent liabilities) as they become absolute and matured, (ii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and commitments as they mature and become due in the normal course of business, (iii) such Person is not incurring debts or liabilities beyond its ability to pay such debts and liabilities as they mature and (iv) such Person is not engaged in any business or transaction, and is not about to engage in any business or transaction, for which its property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. “Special Obligor” has the meaning set forth in the definition of Concentration Percentage. “Sponsor” means ▇▇▇▇▇▇.

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 2.00%.

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.