Term SOFR Determination Date definition

Term SOFR Determination Date shall have the meaning set forth in the definition of Term SOFR Rate.
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Term SOFR Determination Date means, with respect to each Remittance Period, the day that is two (2) Business Days prior to the first day of such Remittance Period.
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Term SOFR Determination Date means, with respect to each Collection Period, the day that is two (2) U.S. Government Securities Business Days prior to the first day of such Collection Period.
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Examples of Term SOFR Determination Date in a sentence

  • The Interest Rate for subsequent Interest Periods shall be re-determined, and adjusted if necessary, on each subsequent Eurodollar RatePeriodic Term SOFR Determination Date, and the Interest Rate shall remain fixed throughout the applicable Interest Period until the first Business Day of the following Interest Period (subject to the provisions of Section 12.19 of this Agreement).

  • On each Periodic Term SOFR Determination Date, the Lender shall determine and deliver to the Servicer the applicable Benchmark with respect to the related Accrual Period.

  • The Administrative Agent must give notice on the Term SOFR Determination Date to each relevant Party of the determination of an interest rate under this Contract.

  • The Administrative Agent must determine the interest rate for each Interest Period on the Term SOFR Determination Date.

  • Borrower hereby directs Administrative Agent, and Administrative Agent acknowledges, that the Loan shall be a SOFR Loan on the Closing Date and such SOFR Loan shall be reset on the first Periodic Term SOFR Determination Date to occur after the Closing Date and on each Periodic Term SOFR Determination Date thereafter if Borrower has not given notice to Administrative Agent to convert the Loan to an Alternative Base Rate Loan.

  • The Pricing Rate shall be reset once per Accrual Period, on the related Periodic Term SOFR Determination Date, and, in each case, unless otherwise agreed, the accrued and unpaid Price Differential shall be settled in cash on each related Payment Date as set forth in Section 7.


More Definitions of Term SOFR Determination Date

Term SOFR Determination Date means (a) the Effective Date and (b) the first Business Day of each calendar month thereafter.
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Term SOFR Determination Date means, for any Interest Period, the date falling two Additional Business Days before the first day of such Interest Period;
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Term SOFR Determination Date has the meaning assigned to it in the definition of “Term SOFR Reference Rate”. “Term SOFR Rate” means, with respect to any Term Benchmark Borrowing denominated in Dollars 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 the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator. “Term SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determination Date”), with respect to any Term Benchmark Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period on the day that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the SOFR Administrator, the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR, provided that if the Term SOFR Reference Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of calculating such rate. If by 5:00 pm (New York City time) on any Term SOFR Determination Date, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination Date will be the Term SOFR Reference Rate for such tenor as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the CME Term SOFR Administrator, so long as such first U.S. Government Securities Business Day preceding such Business Day is not more than five (5) U.S. Government Securities Business Days prior to such Term SOFR Determination Date. “Threshold Amount” means $5,000,000. “Trade Date” means, as to a particular assignment or participation of an interest hereunder to a Person, the date on which the applicable Lender enters into a binding agreement to sell and assign or participate all or a portion of its rights and obligations under this Agreement to such Person. “Total Adjusted Capital” means, with respect to an Insurance Company and as of a date of determination, the “Total Adjusted Capital,” or equivalent term, as defined in the Applicable Insurance Code of the state in which such In...
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Term SOFR Determination Date that is two (2) Business Days prior to the first (1st) day of such Interest Period, as such rate is published by the Term SOFR Administrator, by (B) a number equal to 1.00 minus the SOFR Reserve Percentage. If the Term SOFR Reference Rate for the applicable tenor has not been published or replaced with a Benchmark Replacement by 5:00 p.m. (Pittsburgh, Pennsylvania time) on the Term SOFR Determination Date, then the Term SOFR Reference Rate, for purposes of clause (A) in the preceding sentence, shall be the Term SOFR Reference Rate for such tenor on the first Business Day preceding such Term SOFR Determination Date for which such Term SOFR Reference Rate for such tenor was published in accordance herewith, so long as such first preceding Business Day is not more than three (3) Business Days prior to such Term SOFR Determination Date. If the Term SOFR Rate, determined as provided above, would be less than the SOFR Floor, then the Term SOFR Rate shall be deemed to be the SOFR Floor. The Term SOFR Rate shall be adjusted automatically without notice to the Borrower on and as of (i) the first (1st) day of each Interest Period, and (ii) the effective date of any change in the SOFR Reserve Percentage.
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Related to Term SOFR Determination Date

  • SOFR Determination Date has the meaning specified in the definition of “Daily Simple SOFR”.

  • Term SOFR Determination Day has the meaning assigned to it under the definition of Term SOFR Reference Rate.

  • SOFR Determination Time means 3:00 p.m. (New York time) on the U.S. Government Securities Business Day, at which time Compounded SOFR is published on the FRBNY’s Website.

  • Extension Determination Date means, in respect of a Series of Covered Bonds, the date falling two Business Days after the expiry of seven days from (and including) the Final Maturity Date of such Covered Bonds.

  • ABR Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • SOFR Interest Determination Date means the day that is the number of U.S. Government Securities Business Days prior to the Interest Payment Date in respect of the relevant Interest Period, as specified in the applicable Pricing Supplement.In addition to defining the relevant Interest Periods and Interest Payment Dates, the applicable Pricing Supplement shall specify and describe, as applicable, any relevant interest commencement date, interest period end date, interest determination date, index maturity, rate cut-off date, any other terms relating to the particular method of calculating interest on the Compound SOFR Note (including any applicable payment delay, lockout or suspension period, lookback or observation shift) and any other terms applicable specifically to such Compound SOFR Note.Average SOFR NotesUnless otherwise provided for or modified in the applicable Pricing Supplement, Average SOFR Notes will bear interest at a rate per annum equal to Average SOFR (as defined below) plus the Spread.With respect to any Interest Period, unless otherwise specified or modified in the applicable Pricing Supplement, “Average SOFR” will be calculated by the Calculation Agent on each SOFR Interest Determination Date (as defined below) as follows (with the resulting percentage being rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with 0.000005 being rounded upwards to 0.00001): 0 Where:

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Interest Determination Date means, with respect to a Rate of Interest and Interest Accrual Period, the date specified as such hereon or, if none is so specified, (i) the first day of such Interest Accrual Period if the Specified Currency is Sterling or (ii) the day falling two Business Days in London for the Specified Currency prior to the first day of such Interest Accrual Period if the Specified Currency is neither Sterling nor euro or (iii) the day falling two TARGET Business Days prior to the first day of such Interest Accrual Period if the Specified Currency is euro.

  • Periodic Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Claim Determination Period means a calendar year. However, it does not include any part of a year during which a person has no coverage under This Plan, or any part of a year before the date this COB provision or a similar provision takes effect.

  • Rate Determination Date means two (2) Business Days prior to the commencement of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by the Administrative Agent; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, then “Rate Determination Date” means such other day as otherwise reasonably determined by the Administrative Agent).

  • Pricing Rate Determination Date means with respect to any Pricing Rate Period with respect to any Transaction, the second (2nd) Business Day preceding the first day of such Pricing Rate Period.

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.