SOFR Loans definition
SOFR Loans means Loans accruing interest in accordance with clause (ii) of the Applicable Rate (initially Term SOFR).
SOFR Loans means Adjusted Term SOFR Rate Loans or Adjusted Daily Simple SOFR Loans.
SOFR Loans means Loans accruing interest at an Applicable Rate based upon Term SOFR.
Examples of SOFR Loans in a sentence
CIBC will not be obliged to make available at any time SOFR Loans in an aggregate amount less than US $1,000,000 or C▇▇▇▇ Loans in an aggregate amount less than $500,000.
Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans, shall be suspended (to the extent of the affected SOFR Loans or affected Interest Periods) until the Administrative Agent (with respect to clause (b), at the instruction of the Majority Lenders) revokes such notice.
The Borrower shall have the option to repay any amount under this Credit at any time; provided that Term C▇▇▇▇ Loans and Term SOFR Loans may be repaid only at the end of a C▇▇▇▇ Period or SOFR Period, as the case may be.
More Definitions of SOFR Loans
SOFR Loans means the Borrowings or any portion thereof, made available by the Lenders to the Borrower pursuant to Sections 3.1 or 3.2 and outstanding from time to time, which bear interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate (Canada)”, and on which the Borrower has agreed to pay interest in accordance with Section 3.4(a).
SOFR Loans. Term Loans the rate of interest applicable to which is based upon Term SOFR.
SOFR Loans. Three months Business Day is not more than three (3) U.S. Government Securities Business Days prior to such ABR SOFR Determination Day. “Term SOFR Adjustment”: for any calculation with respect to an ABR Loan or a SOFR Loan, a percentage per annum as set forth below for the applicable Type of such Loan and (if applicable) Interest Period therefor: ABR Loans: 0.15% Interest Period Six months Percentage 0.25% “Term SOFR Administrator”: the CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion). “Term SOFR Reference Rate”: the forward-looking term rate based on SOFR. “Term SOFR Borrowing”: as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing other than pursuant to clause (c) of the definition of “ABR”. “Third Amendment”: that certain Third Amendment to Amended and Restated Credit Agreement dated as of February 27, 2025 by and among the Borrower, the Guarantors party thereto, the Lenders party thereto and SVB, as Administrative Agent, Issuing Lender and Swingline Lender. “Third Amendment Effective Date”: as defined in the Third Amendment. “Total Credit Exposure”: is, as to any Lender at any time, the unused Commitments, Revolving Extensions of Credit and outstanding Term Loans of such Lender at such time. “Total L/C Commitments”: at any time, the sum of all L/C Commitments at such time, as the same may be reduced from time to time pursuant to Section 2.10 or 3.5(b). “Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. “Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit outstanding at such time. “Trade Date”: as defined in Section 10.6(b)(i)(B). “Transactions”: as defined in Section 5.1(b). “Transferee”: any Eligible Assignee or Participant.
SOFR Loans means First Lien Term Loans bearing interest based on the SOFR.
SOFR Loans means, as the case may be, a Term SOFR Loan, or a Daily SOFR Loan. “SOFR Scheduled Unavailability Date” has the meaning specified in Section 3.03(b). “SOFR Successor Rate” has the meaning specified in Section 3.03(b).
SOFR Loans means the advances or any portion thereof, made available by the Lenders to the Borrower pursuant to Sections 3.7, 3.12 or 3.13 and outstanding from time to time, which are denominated in U.S. Dollars and on which the Borrower has agreed to pay interest in accordance with Section 5.3 (other than pursuant to subparagraph (c) of the definition of "U.S. Base Rate");
SOFR Loans means Loans the interest rates on which are determined on the basis of rates referred to in the definition of “Adjusted Term SOFR”.