SOFR Rate definition

SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

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SOFR Rate means the rate that will be determined by the Administrator for each Interest Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided in the Indenture following a determination by the Administrator (on behalf of the Issuing Entity) that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator (on behalf of the Issuing Entity) will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

SOFR Rate means, with respect to the Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

Examples of SOFR Rate in a sentence

• On any date, the Revolving Credit Applicable Margin for Revolving Credit SOFR Rate Loans and Revolving Credit Base Rate Loans shall be a percentage per annum as set forth below based on the ratio of the Consolidated Total Indebtedness to Total Asset Value: Pricing Level 1 Less than 50% 1.75% 0.75% Pricing Level 2 Equal to or greater than 50% 1.85% 0.85% The initial Revolving Credit Applicable Margin shall be at Pricing Level 1.

• A Lender may have a different Applicable Lending Office for Base Rate Loans and SOFR Rate Loans.

• Refers to a continuation of a SOFR Rate Loan for an additional Interest Period as provided in §4.1. Contribution Agreement.

• All determinations of the SOFR Rate, in the absence of manifest error, shall be conclusive and binding on the Noteholders.

• Each Conversion/ Continuation Request relating to the conversion of a Base Rate Loan to a SOFR Rate Loan shall be irrevocable by the Borrower.

More Definitions of SOFR Rate

SOFR Rate means the sum of (a) Term SOFR applicable to such Interest Period and (b) the Applicable Margin.

SOFR Rate means, as the context may require, the Daily Simple SOFR Rate, the Term SOFR Rate or any other Benchmark based on or determined by reference to SOFR.

SOFR Rate means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

SOFR Rate means the rate that will be obtained by the Indenture Trustee and notified to the Administrator for each Interest Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not the SOFR Rate, the Reference Time) and, unless the Administrator has made a determination that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2-B Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make any applicable SOFR Adjustment Conforming Changes.

SOFR Rate means the rate computed by the Benchmark Administrator or its agent with respect to SOFR on a particular business day.

SOFR Rate means, with respect to any SOFR Business Day, a rate per annum equal to the secured overnight financing rate for such SOFR Business Day.

SOFR Rate means the rate that will be obtained by the Indenture Trustee and notified to the Administrator for each Interest Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2-B Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.