Term SOFR Transition Date means, in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the Administrative Agent has provided the related Term SOFR Notice to Borrowers and the Lenders pursuant to Section 4.03(b)(ii).
Term SOFR Transition Date means, in the case of a Term SOFR Transition Event, the date that is 30 (thirty) calendar days after Agent has provided the related Term SOFR Notice to the Lenders and the Dealers pursuant to Section 3(c)(i)(B).
Term SOFR Transition Date means the date on which the Term SOFR Transition occurs, which will be the date Funding Lender determines in its sole discretion that the Term SOFR Transition will be operationally, administratively and technically feasible, provided that the Term SOFR Transition may occur only if such transition will not cause an Adverse Tax Event.
Examples of Term SOFR Transition Date in a sentence
Beginning on the Term SOFR Transition Date, interest will accrue at the Interest Rate calculated using Term SOFR as specified in such Notice, without the necessity of any amendment or other modification of this Project Note.
Funding Lender’s determination with respect to the following matters will be conclusive and binding on Borrower: (A) the necessity and amount of any spread adjustment for Term SOFR upon a Term SOFR Transition; (B) the Term SOFR Transition Date, (C) the Index Source, and (D) any SOFR Adjustment Conforming Changes.
Funding Lender will provide Notice to Borrower of the Term SOFR Transition Date before the first Project Loan Payment Date following the Term SOFR Transition Date.
The final Competition will end at 11:00am (GMT) on Wednesday, 17 March 2021.
Beginning on the Term SOFR Transition Date, the Index is Term SOFR.
More Definitions of Term SOFR Transition Date
Term SOFR Transition Date means the date on which the Term SOFR Transition occurs, which will be the date Lender determines in its sole discretion that the Term SOFR Transition will be operationally, administratively and technically feasible, provided that the Term SOFR Transition may occur only if such transition will not cause an Adverse Tax Event.
Term SOFR Transition Date has the meaning assigned to that term in Section 3.6.
Term SOFR Transition Date means, with respect to a Term SOFR Transition Event, the date that is 30 days (or such later date as the Administrative Agent may specify in the Term SOFR Notice) after the date the Term SOFR Notice is provided by the Administrative Agent to the Lenders and the Borrower pursuant to S ection 3.7(f).
Term SOFR Transition Date means, in the case of a Term RFR Transition Event with respect to SOFR, the Term RFR Transition Date with respect thereto.
Term SOFR Transition Date means the date on which the Index transitions from Compounded SOFR to Term SOFR, which is the date Lender determines in its sole discretion that such transition is operationally, administratively and technically feasible, provided that the transition from Compounded SOFR to Term SOFR may occur only if such transition will not cause an Adverse Tax Event. If such date occurs before the Floating Rate Period begins, the Term SOFR Transition Date will be deemed to have occurred on the First Change Date and Compounded SOFR will not be considered in the calculation of the Variable Annual Interest Rate. Lender will provide Notice to Borrower of the Term SOFR Transition Date.
Term SOFR Transition Date means, with respect to a Term SOFR Transition Event, the date that is 30 days (or such later date the Lender may specify in the Term SOFR Notice) after the date the Term SOFR Notice is provided by the Lender to the Borrower pursuant to Section 5(D).
Term SOFR Transition Date means, with respect to a Term SOFR Transition Event, the date that is 30 days (or such later date as the Administrative Agent may specify in the Term SOFR Notice) after the date the Term SOFR Notice is provided by the Administrative Agent to the Lenders and the Borrower pursuant toRate Option” means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 3.72.4(fa)(ii). “Term SOFR Transition Event” means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent, and (c) a replacement of the LIBOR Rate has previously occurred in accordance with Section 3.7(a) resulting in a Benchmark Replacement under clause (a) of the definition of Benchmark Replacement.Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means the Business Day as of which all of the following shall have occurred: (a) all Commitments under this Agreement have terminated, (b) all Secured Obligations have been paid in full in cash (other than (i) contingent indemnification obligations as to which no claim has been made and (ii) obligations and liabilities with respect to any Secured Bank Product or Secured Hedge as to which arrangements reasonably satisfactory to the applicable Secured Party have been made) and (c) all Letters of Credit have terminated or expired (other than Letters of Credit which have been Cash Collateralized or as to which other arrangements with respect thereto satisfactory to the Issuing Lender shall have been made). “Threshold Amount” means as of any given date of determination, the greater of (a) $10,000,000 and (b) 10.0% of Consolidated EBITDA determined on a Pro forma Basis as of the most recent four fiscal quarter period for which Consolidated financial statements have been delivered. “Total Credit Exposure” means, as to any Lender at any time, the sum of such Xxxxxx’s unused Term Loan A-1 Commitment, unused Term Loan A-2 Commitment, unused Incremental Term Loan Commitments, Revolving Credit Exposure, outstanding Term Loans and outstanding Incremental Term Loans. 46