Term Benchmark Loan definition

Term Benchmark Loan means a Loan that bears interest at a rate based on the Adjusted Term SOFR Rate.

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Term Benchmark Loan or “Term Benchmark Borrowing” means a Loan or Borrowing that bears interest at a rate determined by reference to a Term Benchmark.

Term Benchmark Loan means monies lent by the Lenders to the Borrower hereunder and upon which interest accrues at a rate referable to the Adjusted Term SOFR Rate.

Examples of Term Benchmark Loan in a sentence

In the case of a Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 12:00 noon, in the case of any Eurodollar Rate Loan, Term Benchmark Loan or Base Rate Loan, on the Business Day specified in the applicable Committed Loan Notice.
During the existence of an Event of Default, the Administrative Agent or the Required Lenders may require that (i) no Loans may be converted to or continued as Term Benchmark Loans and (ii) unless repaid, each Term Benchmark Loan denominated in Dollars shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.
Determination of amounts payable under such Sections in connection with a Term Benchmark Loan shall be calculated as though each Lender funded its Term Benchmark Loan through the purchase of a deposit of the type, currency and maturity corresponding to the deposit used as a reference in determining the Term Benchmark Rate applicable to such Loan, whether in fact that is the case or not.
Any prepayment of a Term Benchmark Loan or an RFR Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.04.
All prepayments under this Section 2.05 shall be accompanied by all accrued interest thereon in the currency in which such Loan is denominated, together with, in the case of any such prepayment of a Term Benchmark Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Term Benchmark Loan pursuant to Section 3.04.

More Definitions of Term Benchmark Loan

Term Benchmark Loan means a Loan that bears interest as provided in Section 2.06(b), to be made by a Bank as a Term Benchmark Loan in accordance with the applicable Notice of Borrowing or pursuant to Section 2.11.

Term Benchmark Loan means any Term Benchmark Term Loan or Term Benchmark Revolving Loan.

Term Benchmark Loan means a Committed Loan or Competitive Loan that bears interest at the Adjusted Term SOFR Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election, provided, however, that this definition does not include any Loan bearing interest pursuant to clause (c) of the definition of “Alternate Base Rate”.

Term Benchmark Loan means monies lent by the Lenders to the Borrowers hereunder and upon which interest accrues at a rate referable to the Adjusted Term SOFR Rate.

Term Benchmark Loan means a Loan that bears interest at a rate based on the definition of “Term Benchmark”. Term Benchmark Revolving Credit Loans may be denominated in any Approved Currency (other than Sterling).

Term Benchmark Loan means any SOFR Loan.

Term Benchmark Loan means any Eurocurrency Rate Loan.