Term SOFR Loan definition

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

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Term SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR. “Term SOFR Replacement Date” has the meaning specified in Section 3.03(b).

Examples of Term SOFR Loan in a sentence

• Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, at the election of the Required Lenders, (A) no outstanding Loans may be converted to or continued as Term SOFR Loans and (B) unless repaid, each then existing Term SOFR Loan shall be converted to an ABR Loan at the end of the Interest Period applicable thereto.

• Thereafter, the Borrower may elect to convert such Loans to a different Type or to continue such Loans and, in the case of a Term SOFR Loan, may elect Interest Periods therefor, all as provided in this Section.

• Each Notice of Borrowing shall be irrevocable and shall specify (A) the amount of the Borrowing, (B) the requested funding date (which must be a Business Day), (C) whether the Borrowing is to be made as a Base Rate Loan or a Term SOFR Loan, and (D) in the case of Term SOFR Loans, the duration of the applicable Interest Period (which shall be deemed to be one month if not specified).

• During any Event of Default, the Agent may (and shall at the direction of the Required Lenders) declare that no Loan may be made, converted to or continued as a Term SOFR Loan.

• All amounts payable by Borrowers under this Section 3.10 shall be due and payable in accordance with Section 3.3. Lenders shall not be required to purchase deposits in the applicable interbank market or any other applicable market to fund any Term SOFR Loan, but the provisions hereof shall be deemed to apply as if each Lender had purchased such deposits to fund such Loans.

More Definitions of Term SOFR Loan

Term SOFR Loan means each Loan bearing interest at Adjusted Term SOFR Rate, as provided in Section 2.08(a).

Term SOFR Loan means any Loan bearing interest at a rate based on Adjusted Term SOFR. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR.

Term SOFR Loan a Loan that bears interest based on clause (a) of the definition of Term SOFR. Term SOFR Screen Rate: the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by Agent from time to time).

Term SOFR Loan means any Term SOFR Term Loan or Term SOFR Revolving Loan.

Term SOFR Loan means a Loan that, except as otherwise provided in Section 2.07, bears interest at the applicable Term SOFR Rate other than pursuant to clause (d) of the definition of Alternate Base Rate.

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

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