SOFR Loan definition

SOFR Loan means 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”.

SOFR Loan means any Daily Simple SOFR Loan or Term SOFR Loan.

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

Examples of SOFR Loan in a sentence

• In the event that Xxxxxxxx has elected to borrow or convert Loans into SOFR Loans but fails to select the duration of any Interest Period for any SOFR Loans within the time period and otherwise as provided in this Section 4.05, such SOFR Loan shall have an Interest Period of one month.

• The “Type” of a Loan refers to whether such Loan is an ABR Loan or a SOFR Loan, each of which constitutes a Type.

• Borrower shall select an Interest Period to apply to each Term SOFR Loan.

• The Administrative Agent shall, prior to 12:00 p.m. (noon) (Montreal time) on the second Business Day immediately preceding the commencement of each Interest Period in respect of a Term SOFR Loan, including the first such Interest Period, endeavour to inform the Borrower of the prevailing Term SOFR Reference Rate for the relevant Interest Period.

• In the event that Xxxxxxxx fails to select the Type of Loan within the time period and otherwise as provided in this Section 4.05, such Loan (if outstanding as a SOFR Loan) will be automatically converted into an ABR Loan on the last day of the then current Interest Period for such Loan or (if outstanding as an ABR Loan) will remain as, or (if not then outstanding) will be made as, an ABR Loan.

More Definitions of SOFR Loan

SOFR Loan means any Revolving Loan bearing interest at a rate based on Adjusted Term SOFR as provided in Section 3.1(a)(ii).

SOFR Loan means the Loan at such time as interest thereon accrues at a rate of interest equal to the SOFR Rate.

SOFR Loan means a Loan bearing interest based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate.”

SOFR Loan or “Base Rate Loan”) or by Class and Type (e.g. “Revolving SOFR Loan”). Borrowings also may be classified and referred to by Class (e.g. “Revolving Borrowing”) or by Type (e.g. “SOFR Borrowing”) or by Class and Type (e.g. “Revolving SOFR Borrowing”).

SOFR Loan means any Loan bearing interest at a rate based on Adjusted Term SOFR as provided in Section 5.1(a).

SOFR Loan means a Committed Loan that bears interest at a rate determined by reference to Adjusted Term SOFR (other than pursuant to clause (c) of the definition of “Base Rate”).

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