Examples of Term SOFR Administrator in a sentence
Term SOFR Administrator – The CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Bank in its reasonable discretion).
The Adjusted Term SOFR Rate shall mean on any day the Term SOFR Reference Rate published by the Term SOFR Administrator for the tenor comparable to the applicable interest period, plus certain credit spread adjustments.
As used in this Agreement, the following terms have the following meanings: “1-Month CME Term SOFR” is the 1-month CME Term SOFR reference rate as published by the CME Term SOFR Administrator on the CME Term SOFR Administrator’s Website.
Notwithstanding anything herein to the contrary, in the event Lender determines Term SOFR is permanently or indefinitely unavailable or unascertainable, or ceases to be published by the Term SOFR Administrator, the reference to Term SOFR in the definition of Applicable Rate shall be changed to Prime Rate without any amendment to, or further action or consent of any party to this Agreement or any Loan Document.