Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).
Term Rate Loan Option means the option of the Borrower to have Loans bear interest at a rate based on the Term SOFR Rate or Term RFR for the relevant Currency and under the terms specified for Term SOFR Rate Loans or Term RFR Loans denominated in such Currency, as applicable, in Section 2.08.
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1.1(ii) [Revolving Credit Term Rate Loan Option]."
Examples of Term Rate Loan Option in a sentence
In the case of the renewal of a Term Rate Loan Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.
As to any Loans to which a Term Rate Loan Option applies (including on and after the Term RFR Transition Date with respect to any Currency, as to any RFR Loan denominated in such Currency), interest shall be due and payable on the last day of each Interest Period for those Loans and, if such Interest Period is longer than three (3) Months, also on the 90th day of such Interest Period.
More Definitions of Term Rate Loan Option
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i) [Revolving Credit Loan Term Rate Loan Option] or Section 4.1(c)(i) [Term Loan and Delayed Draw Term Loans Term Rate Loan Option], as applicable.
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2(vi)(B).sto
Term Rate Loan Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i). “Term RFR” means, with respect to Euros for any Interest Period, a rate per annum determined by the Administrative Agent, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to any applicable Term RFR Forward Looking Rate by dividing (the resulting quotient rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) (a) the applicable Term RFR Forward Looking Rate by (b) a number equal to 1.00 minus the RFR Reserve Percentage; provided that if the adjusted rate as determined above would be less than the Floor, such rate shall be deemed to be the Floor for purposes of this Agreement. The adjusted Term RFR for each outstanding Term RFR Loan shall be adjusted automatically as of the effective date of any change in the RFR Reserve Percentage. The Administrative Agent shall give prompt notice to the Borrower of the adjusted Term RFR rate as determined or adjusted in accordance herewith, which determination shall be conclusive absent manifest error. “Term RFR Forward Looking Rate” means, with respect to Euros for any Interest Period, the forward-looking term rate for a period comparable to such Interest Period based on the RFR for such Currency that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Administrative Agent in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Interest Period determined by the Administrative. “Term RFR Loan” means a Loan that bears interest based on Term RFR. “Term RFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term RFR Transition Event.
Term Rate Loan Option means the Term SOFR Rate Option or the Eurocurrency Rate Option, as applicable.
Term Rate Loan Option means a Loan that bears interest at a rate based on the Term SOFR Rate or Term RFR Rate. Term RFR means, for any Term RFR Borrowing for any Interest Period, a rate per annum determined by the Administrative Agent (rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) equal to, for any Obligations, interest, fees, commissions, or other amounts denominated in, or calculated with respect to: