Term SOFR Borrowing definition
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.
Term SOFR Borrowing as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing.
Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.11, bears interest at the applicable Term SOFR Rate.
Examples of Term SOFR Borrowing in a sentence
Each Borrowing initially shall be of the permitted Type specified in the applicable Borrowing Request and, in the case of a Term SOFR Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise provided in Section 2.03.
Thereafter, the Company may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Term SOFR Borrowing, may elect Interest Periods therefor, all as provided in this Section and on terms consistent with the other provisions of this Agreement.
If any such Interest Election Request requests a Term SOFR Borrowing but does not specify an Interest Period, then the Company shall be deemed to have selected an Interest Period of one month’s duration.
More Definitions of Term SOFR Borrowing
Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.05(b), bears interest at the applicable Term SOFR Rate.
Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.07, bears interest at the applicable Term SOFR Rate.
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans. “Term SOFR Lending Office” means, as to each Lender, its office, branch or Affiliate located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Term SOFR Lending Office) or such other office, branch or Affiliate of such Lender as it may hereafter designate as its Term SOFR Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Loan” means any 2028 Revolving Loan or 2029 Revolving Loan that bears interest at a rate based on Adjusted Term SOFR other than pursuant to clause (iii) of the definition of “Base Rate”. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means (i) with respect to the 2028 Revolving Loans and 2028 Revolving Commitments, the 2028 Termination Date and (ii) with respect to the 2029 Revolving Loans and 2029 Revolving Commitments, the 2029 Termination Date. “Type”, when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. “UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution. “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. “Unfunded Liabilities” means, with respect to any Plan at any time, the amount (if any) by which (i) the value of all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds (ii) the fair market
Term SOFR Borrowing or “Term SOFR Loan” mean an RC Facility Borrowing or RC Facility Loan or 2023 Term Loan Borrowing or 2023 Term Loan, as applicable, that bears interest at a rate determined by reference to the Adjusted Term SOFR Rate (other than pursuant to the definition of “Alternate Base Rate”). All Term SOFR Loans shall be denominated in Dollars.
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans. “Term SOFR Lending Office” means, as to each Lender, its office, branch or Affiliate located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Term SOFR Lending Office) or such other office, branch or Affiliate of such Lender as it may hereafter designate as its Term SOFR Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Loan” means any 2026 Revolving Loan or 2027 Revolving Loan that bears interest at a rate based on Adjusted Term SOFR other than pursuant to clause (iii) of the definition of “Base Rate”. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means (i) with respect to the 2026 Revolving Loans and 2026 Revolving Commitments, the 2026 Termination Date and (ii) with respect to the 2027 Revolving Loans and 2027 Revolving Commitments, the 2027 Termination Date. “Type”, when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation
Term SOFR Borrowing means, as to any Borrowing, the Term SOFR Loans comprising such Borrowing. “Term SOFR Loan” means a Loan bearing interest based on Adjusted Term SOFR.
Term SOFR Borrowing as to any borrowing hereunder, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such borrowing. “Term SOFR Reference Rate”: the forward-looking term rate based on SOFR. “Test Period” means, as of any date, the period of four consecutive fiscal quarters then most recently ended for which financial statements under Section 6.1(a) or, for the first three fiscal quarters of each fiscal year, (b), as applicable, have been delivered (or are required to have been delivered); it being understood and agreed that prior to the first delivery (or required delivery) of financial statements under Section 6.1(a) or, for the first three fiscal quarters of each fiscal year, (b), “Test Period” means the period of four consecutive fiscal quarters most recently ended for which financial statements of the Borrower and its consolidated Subsidiaries are available. “Threshold Amount”: $24,500,000. “Total Credit Exposure”: as to any Lender at any time, the unused Commitments, Revolving Extensions of Credit and outstanding Term Loans of such Lender at such time. “Total L/C Commitments”: at any time, the sum of all L/C Commitments at such time, as the same may be reduced from time to time pursuant to Section 2.7 or 3.5(b). The initial amount of the Total L/C Commitments on the Closing Date is $25,000,000, which may be increased to $50,000,000 with the consent of the Issuing Lender; provided that no more than the Dollar Equivalent of $20,000,000 of such L/C Commitments (such amount, the “Foreign L/C Sublimit”) may be issued in a Foreign Currency. “Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. “Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit outstanding at such time. “Trade Date”: as defined in Section 10.6(b)(i)(B). “Transactions”: as defined in Sections 4.16.