Term Benchmark Borrowing definition

Term Benchmark Borrowing means, as to any Borrowing, the Term Benchmark Loans comprising such Borrowing.
Term Benchmark Borrowing means a Borrowing comprised of Term Benchmark Loans.
Term Benchmark Borrowing means a Borrowing of a Term SOFR Loan.

Examples of Term Benchmark Borrowing in a sentence

  • If no Interest Period is specified with respect to any requested Term Benchmark Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  • If any such Interest Election Request requests a Term Benchmark Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  • Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Term Benchmark Borrowing, may elect Interest Periods therefor, all as provided in this Section.

  • Subject to Section 2.03(d), the Loans constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Term Benchmark Borrowing, shall have the Interest Period specified in such Borrowing Request.

  • The Loans constituting each Term Benchmark Borrowing shall bear interest at a rate per annum equal to the Relevant Rate applicable to such Borrowing for the related Interest Period plus the Applicable Margin.


More Definitions of Term Benchmark Borrowing

Term Benchmark Borrowing means, as to any Borrowing, the Term Benchmark Loans comprising such Borrowing. “Term Benchmark Loan” means a Loan that bears interest at a rate based on the Adjusted Term SOFR Rate. “Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body. Determination Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate. “Term SOFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event.Rate” means, with respect to any Term Benchmark Loan and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator. “Term SOFR Transition Event” means the determination by the Administrative Agent (in consultation with the Borrower) that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR. “Term SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any Term Benchmark Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period, the rate per annum published by the CME Term SOFR Administrator and identified by the Administrative Agent as the forward-looking term rate based on SOFR. If by 5:00 pm (New York City time) on such Term SOFR Determination Day, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then, so long as such day is otherwise a U.S. Government Securities Business Day, the Term SOFR Reference Rate for such Term SOFR Determination Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate was publis...
Term Benchmark Borrowing means, as to any Borrowing, the Term Benchmark Loans comprising such Borrowing. “Term Benchmark Loan” means a Loan that bears interest at a rate based on the Adjusted Term SOFR Rate.
Term Benchmark Borrowing means any Term SOFR Borrowing and any Eurocurrency Rate Borrowing.
Term Benchmark Borrowing means, as to any Borrowing, the Eurocurrency Rate Loans composing such Borrowing.
Term Benchmark Borrowing when used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the Adjusted Term SOFR Rate.
Term Benchmark Borrowing has the meaning set forth in Section 1.03.
Term Benchmark Borrowing means, as to any Borrowing, the Term Benchmark Loans comprising such Borrowing. “Term Benchmark Loan” means a Term Benchmark Revolving Loan and/or a Term Benchmark Term Loan.