Term SOFR Auction definition

Term SOFR Auction means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Term SOFR Rates based on Term SOFR pursuant to Section 2.03.
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Term SOFR Auction means a solicitation of Money Market Quotes setting forth Money Market Margins based on Term SOFR pursuant to Section 2.3.
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Term SOFR Auction means a solicitation of Bid Rate Quotes setting forth Term SOFR Bid Margins pursuant to Section 2.02. “Term SOFR Bid Margin” has the meaning specified in Section 2.02(c)(2)(iii).
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Examples of Term SOFR Auction in a sentence

  • When the Borrower wishes to request from the Revolving Lenders offers to make Bid Rate Loans, the Borrower shall give the Agent notice (a “Bid Rate Quote Request”) so as to be received no later than 11:00 a.m. on (x) the Business Day immediately preceding the date of borrowing proposed therein, in the case of an Absolute Rate Auction and (y) the date four (4) Business Days prior to the proposed date of borrowing, in the case of a Term SOFR Auction.

  • Administrative Agent shall (x) not later than 3:00 p.m. on the fourth Banking Day prior to the proposed date of funding of the Term SOFR Bid Rate Loan(s) in the case of a Term SOFR Auction or (y) not later than 10:30 a.m. on the Banking Day immediately preceding the proposed date of funding of the Absolute Bid Rate Loan(s) in the case of an Absolute Rate Auction, notify Borrower in writing of the terms of any Bid Rate Quote submitted by a Bank that is in accordance with paragraph (c).

  • Not later than (x) 9:30 a.m. on the third Banking Day prior to the proposed date of funding of the Term SOFR Bid Rate Loan in the case of a Term SOFR Auction or (y) 1:00 p.m. on the Banking Day immediately preceding the proposed date of funding of the Absolute Bid Rate Loan in the case of an Absolute Rate Auction, Borrower shall notify Administrative Agent of its acceptance or non-acceptance of the offers so notified to it pursuant to paragraph (d).

  • When the Borrower wishes to request from the Revolving Lenders offers to make Bid Rate Loans, it shall give the Administrative Agent notice (a “Bid Rate Quote Request”) so as to be received no later than 1:00 p.m. (Chicago time) on (i) the Business Day immediately preceding the date of borrowing proposed therein, in the case of an Absolute Rate Auction and (ii) the date four (4) Business Days prior to the proposed date of borrowing, in the case of a Term SOFR Auction.


More Definitions of Term SOFR Auction

Term SOFR Auction means for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, Page 28 3ACTIVE 221393034 the Relevant Governmental Bodya solicitation of Money Market Quotes setting forth Money Market Margins based on Term SOFR pursuant to Section 2.03.
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Term SOFR Auction means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Margins based on Term SOFR pursuant to Section 2.03.
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Related to Term SOFR Auction

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

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

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

  • Absolute Rate Auction means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Absolute Rates pursuant to Section 2.03.

  • Term SOFR means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

  • Auction Notice has the meaning assigned to such term in the definition of “Dutch Auction”.

  • E-Auction Process /”E-Auction” shall mean the electronic auction process for sale of the Company conducted in accordance with the provisions of IBC, Liquidation Process Regulations, Applicable Law(s) and this E- Auction Process Information Document inviting Bid from the Bidders for consummating the sale of Company on going concern basis in accordance with the provisions of IBC and Liquidation Process Regulations;