Term SOFR Advance definition

Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

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Term SOFR Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars which bears interest as provided in Section 2.07(b).

Term SOFR Advance means a Revolving Credit Advance denominated in Dollars which bears interest as provided in Section 2.07(b).

Examples of Term SOFR Advance in a sentence

Interest accrued on each Term SOFR Advance having an Interest Period longer than three months shall also be payable on each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period.
Each Term SOFR Advance shall be in the minimum amount of $5,000,000 (and in multiples of $1,000,000 if in excess thereof), and each ABR Advance or Daily Simple SOFR Advance shall be in the minimum amount of $1,000,000 (and in multiples of $1,000,000 if in excess thereof), provided, however, that any ABR Advance or Daily Simple SOFR Advance may be in the amount of the Borrowing Base Availability.
Interest accrued on each Term SOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Term SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturity.
The Interest Period of a Term SOFR Advance may not end later than the latest Revolving Credit Facility Termination Date or maturity date with respect to an Advance of Incremental Term Loans, as applicable, in effect at the time of the borrowing or continuation of or conversion into such Term SOFR Advance.
The Interest Period of a Term SOFR Advance may not end later than the Termination Date in effect at the time of the borrowing or continuation of or conversion into such Term SOFR Advance.

More Definitions of Term SOFR Advance

Term SOFR Advance means an Advance that bears interest as provided in Section 2.05(a)(ii).

Term SOFR Advance means an Advance that, except as otherwise provided in Section 2.11, bears interest at the applicable Term SOFR Rate.

Term SOFR Advance means an Advance that, except as otherwise provided in Section 2.11, bears interest at the applicable Adjusted Term SOFR Screen Rate (other than pursuant to clause (d) of the definition of Alternate Base Rate) plus the Applicable Margin therefor.

Term SOFR Advance a portion of the Revolving Credit Loans selected by the Borrower to bear interest during a Term SOFR Interest Period selected by the Borrower at a rate based upon Term SOFR, all pursuant to and in accordance with Section 2.1 or Section 3.3.

Term SOFR Advance means an Advance which the Borrower requests to be made as, Continued as or Converted to a Term SOFR Advance in accordance with the provisions of Section 2.2, and which shall be in a principal amount of at least $1,000,000 and in an integral multiple of $1,000,000.

Term SOFR Advance has the meaning set forth in Section 1.02 of the Series 2022-1 Class A-1 Note Purchase Agreement.

Term SOFR Advance means an Advance that, except as otherwise provided in Section 3.1(d), bears interest at the applicable Term SOFR Rate other than pursuant to clause (d) of the definition of Base Rate.