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 means a Loan bearing interest at a rate determined by reference to the 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

Upon written notice to such effect to the relevant Borrower at such time as a Default has occurred and is continuing, the Administrative Agent may, on the maturity date of a Term Benchmark Loan, convert such Term Benchmark Loan into a Base Rate Canada Loan, as though a notice to such effect had been given in accordance with Section 6.2.
No Term Benchmark Loan under the Credit Facility may have a maturity date later than the Maturity Date.
Any reference herein to the amount of credit outstanding shall mean, at any particular time, in the case of a Term Benchmark Loan or Base Rate Canada Loan, the principal amount thereof.
Subject to Section 3.5 in the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Term Benchmark Loan in favour of a Borrower shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.2.
Concurrently with repaying such portion of each affected Term Benchmark Loan, the Borrowers may borrow a Base Rate Canada Loan from such Lender, whether or not they would have been entitled to effect such borrowing and such Lender shall make such Loan of a Base Rate Canada Loan, if so requested, in an amount such that the outstanding principal amount of the affected Loan made by such Lender shall equal the outstanding principal amount of such Loan immediately prior to such repayment.

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 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 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 any SOFR Loan or EURIBOR Loan, as applicable.

Term Benchmark Loan has the meaning given in Section 1.02.