Term SOFR Rate Option definition

Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).
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Term SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i)(1).
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Term SOFR Rate Option means the option of the Borrower to have portions of the advances bear interest at a rate based on the Term SOFR Rate, if such Option is provided in the paragraph entitled “Interest Rate” above.
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Examples of Term SOFR Rate Option in a sentence

  • If no notice of election, conversion or renewal is timely received by the Bank with respect to any amount hereunder, the Borrower shall be deemed to have elected the Term SOFR Rate Option having a Term SOFR Interest Period of one month’s duration.

  • The Borrower may request advances hereunder by giving oral or written notice to the Bank by 11:00 a.m. Pittsburgh, Pennsylvania time (a) 3 Business Days prior to the proposed advance, in the case of advances to bear interest under the Term SOFR Rate Option and (b) on the day of the proposed advance, in the case of advances to bear interest under any other Option, followed promptly thereafter by the Borrower’s written confirmation to the Bank of any oral notice.

  • The Borrower may select different Options to apply simultaneously to different portions of the advances and may select up to eight (8) different interest periods to apply simultaneously to different portions of the advances bearing interest under the Term SOFR Rate Option.

  • If no interest period is specified in any such notice for an amount that is to bear interest under the Term SOFR Rate Option, the Borrower shall be deemed to have selected a Term SOFR Interest Period of one month’s duration.

  • In the case of converting to the Term SOFR Rate Option, such notice shall be given at least 3 Business Days prior to the commencement of any Term SOFR Interest Period.


More Definitions of Term SOFR Rate Option

Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i)(1) [Revolving Credit Term SOFR Rate Option] or Section 4.1(c)(i)(1) [Term Loan and Delayed Draw Term Loan Term SOFR Rate Option], as applicable.
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Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms set forth in Section 2.08. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Test Period” means, as of any date of determination, the most recently ended four-Fiscal Quarter period for which financial statements have been (or are required to have been) delivered to the Administrative Agent pursuant to Section 5.01(a) or 5.01(b), as applicable. “Title Insurance Company” means Chicago Title Insurance Company or any other nationally reputable title insurance company that is retained by the Borrowers and is reasonably acceptable to the Administrative Agent. “To-Ricos” means To-Ricos, Ltd., a Bermuda company. “To-Ricos Distribution” means To-Ricos Distribution, Ltd., a Bermuda company. 50
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Term SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i)(A). “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Test Period” means, as of any date of determination, the most recently completed four (4) fiscal quarters of the Loan Parties ended on or prior to such time (taken as one accounting period) for which financial statements have been delivered (or are required to have been delivered) to the Administrative Agent.
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Term SOFR Rate Option means the option of the Company to have Loans bear interest at the Term SOFR Rate. “Term SOFR Rate Spread” shall have the meaning set forth in the applicable Note.
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Term SOFR Rate Option. A rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to Adjusted Term SOFR as determined for each applicable Interest Period plus the Applicable Margin. Subject to Section 4.3 [Interest After Default], only the Base Rate Option applicable to Series A Revolving Credit Loans shall apply to Swing Loans.
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Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified inSection 4.1(a) (ii), Section 4.1(b)(ii) or Section 4.1(c)(ii), as applicable.
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Related to Term SOFR Rate Option

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • 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.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Term SOFR Screen Rate means the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).

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

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

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).