SOFR Rate Advance definition

SOFR Rate Advance means each Advance that bears interest at a rate based on the Benchmark as provided in Section 2.04.
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SOFR Rate Advance means an Advance that bears interest as provided in Section 2.11(b).
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SOFR Rate Advance means any borrowing under this Note when and to the extent that its interest rate is determined by reference to the Adjusted SOFR Rate.
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Examples of SOFR Rate Advance in a sentence

  • While an Advance is a SOFR Rate Advance, a rate per annum for each Interest Accrual Period for such Advance equal to the sum of the Benchmark for such Interest Accrual Period (giving effect to the applicable SOFR Adjustment) plus the Facility Margin Level.

  • Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a SOFR Rate Advance, conversion to or continuation of SOFR Rate Advances to be made, converted or continued during any Benchmark Unavailability Period and, in the absence of such revocation, the Borrower will be deemed to have converted any such request into a request for an Advance of or conversion to Base Rate Advances.

  • Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a SOFR Rate Advance, conversion to or continuation of SOFR Rate Advances to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for an Advance of or conversion to Base Rate Advances.

  • The failure to give such notice shall be considered a request to Continue such Advance as a LIBORTerm SOFR Rate Advance with a one month Interest Period.

  • If such notice is given, each SOFR Rate Advance of such Lender then outstanding shall be converted to a Base Rate Advance either (i) on the last day of the then current Interest Period applicable to such SOFR Rate Advance if such Lender may lawfully continue to maintain and fund such Advance to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Advance to such day.

  • The Borrower's notice must specify: (a) the disbursement date, (b) the amount of each Advance, (c) the type of each Advance (CB Floating Rate Advance or SOFR Rate Advance), and (d) for each SOFR Rate Advance, the duration of the applicable Interest Period; provided, however, that the Borrower may not elect an Interest Period ending after the maturity date of this Note.

  • During such periods as such Advance is an Adjusted Daily Simple SOFR Rate Advance, a rate per annum equal at all times to the sum of (x) the Adjusted Daily Simple SOFR Rate in effect from time to time plus (y) the Applicable Margin applicable to such Lender in effect from time to time, payable in arrears on each Interest Payment Date and on the date such Adjusted Daily Simple SOFR Rate Advance shall be Converted or paid in full.

  • While an Advance is a SOFR Rate Advance, a rate per annum for each Interest Accrual Period for such Advance equal to the sum of the Benchmark for such Interest Accrual Period plus the Facility Margin Level.

  • Whenever any payment under this Note becomes due and payable on a day that is not a Business Day, if no default then exists under this Note, the maturity of the payment shall be extended to the next succeeding Business Day, except, in the case of a SOFR Rate Advance, if the result of the extension would be to extend the payment into another calendar month, the payment must be made on the immediately preceding Business Day.

  • In addition, if the Borrower shall fail to provide a timely notice of Conversion or continuation for any Term ​ ​ 74 Alliance Coal, LLC ​ Credit Agreement ​ ​ SOFR Rate Advance, such Term SOFR Rate Advance will automatically Convert into a Base Rate Advance.

Related to SOFR Rate Advance

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • LIBO Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.