SOFR Margin definition
SOFR Margin has the meaning set forth in the definition of Applicable Margin.
SOFR Margin means the Revolving Loan SOFR Margin.
SOFR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).
Examples of SOFR Margin in a sentence
Borrowers shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in Section 2.11(k)) that shall accrue at a per annum rate equal to the SOFR Margin times the average amount of the Letter of Credit Usage during the immediately preceding quarter.
Any change in the Term SOFR Margin shall become effective on the day on which such a Rating Agency shall publicly announce a change in such rating.
More Definitions of SOFR Margin
SOFR Margin means 2.80 percentage points.
SOFR Margin means, in respect of a SOFR Loan, or portion thereof outstanding on or after the Effective Date, the SOFR Margin described in the definition of Applicable Margin.
SOFR Margin means, with respect to SOFR Advances, the applicable percentage rate per annum indicated below the references to "SOFR Margin" in the pricing grid in Section 2.6(b).
SOFR Margin means, for any day, the applicable rate per annum set forth on Schedule A under the caption “SOFR Margin” based upon the Applicable Rating Level applicable on such date. Each change in the SOFR Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. Changes in the SOFR Margin will occur automatically without prior notice.
SOFR Margin means 1.70%.
SOFR Margin means, at any time, a percentage rate per annum determined in accordance with the Pricing Schedule.
SOFR Margin has the meaning set forth in the definition of Applicable Margin. “SOFR Notice” means a written notice in the form of Exhibit C-1 to this Agreement. 60 “SOFR Option” has the meaning specified therefor in Section 2.13(g) of this Agreement. “Specified Person” has the meaning assigned to such term in Section 4.25(b). “Specified Receivables Subsidiary” means a Wholly Owned Subsidiary of any Borrower which engages in no activities other than in connection with the financing or sale of such Qualified Receivables of such Borrower and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and which is designated by the applicable Borrower as a Specified Receivables Subsidiary and: (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Borrowers or any other Subsidiary of a Borrower (excluding guarantees of obligations (other than the principal of and interest on, Indebtedness) pursuant to Standard Undertakings), (ii) is recourse to or obligates the Borrowers or any other Subsidiary of a Borrower in any way other than pursuant to Standard Undertakings, or (iii) subjects any property or asset of the Borrowers or any other Subsidiary of a Borrower, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Undertakings; (b) with which neither the Borrowers nor any other Subsidiary of a Borrower has any material contract, agreement, arrangement or understanding other than on terms which the applicable Borrower reasonably believes to be no less favorable to the Borrowers or such Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the applicable Borrower; and