USD Compounded SOFR definition

USD Compounded SOFR means, for an Interest Period, the rate of return of a daily compound interest investment (it being understood that the reference rate for the calculation of interest is SOFR), calculated in accordance with the formula set forth below, rounded, if necessary, to the nearest fifth decimal place, with 0.000005 per cent. being rounded upwards to the nearest one hundred-thousandth of a percentage point:
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Examples of USD Compounded SOFR in a sentence

  • The interest to be paid on the Class A Notes on the first Interest Payment Date shall be based on the USD Compounded SOFR Index five U.S. Government Securities Business Days preceding the last day of the initial Interest Period plus 0.68% per annum.

  • The interest to be paid on the Class A Notes on the first Interest Payment Date shall be based on the USD Compounded SOFR Index five U.S. Government Securities Business Days preceding the last day of the initial Interest Period plus 0.85% per annum.

Related to USD Compounded SOFR

  • Compounded SOFR means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as a mechanism to determine the interest amount payable prior to the end of each Interest Period) being established by the Administrative Agent in accordance with:

  • Cumulative Compounded RFR Rate means, in relation to a Loan (or any part of it) accruing interest at the Compounded Reference Rate, the percentage rate per annum determined by the Facility Agent in accordance with the methodology set out in Schedule 15C (Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

  • Daily Non-Cumulative Compounded RFR Rate means, in relation to any U.S. Government Securities Business Day during a Floating Rate Interest Period for a Loan (or any part of it), the percentage rate per annum determined by the Facility Agent in accordance with the methodology set out in Schedule 15B (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

  • Daily Compounded ▇▇▇▇▇ means, for any day, ▇▇▇▇▇ with interest accruing on a compounded daily basis, with the methodology and conventions for this rate (which will include compounding in arrears with a lookback) being established by the Administrative Agent in accordance with the methodology and conventions for this rate selected or recommended by the Relevant Governmental Body for determining compounded ▇▇▇▇▇ for business loans; provided that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may (in consultation with the Borrower) establish another convention in its reasonable discretion; and provided that if the administrator has not provided or published CORRA and a Benchmark Replacement Date with respect to ▇▇▇▇▇ has not occurred, then, in respect of any day for which ▇▇▇▇▇ is required, references to ▇▇▇▇▇ will be deemed to be references to the last provided or published CORRA. Any change in Daily Compounded ▇▇▇▇▇ due to a change in CORRA shall be effective from and including the effective date of such change in CORRA without notice to the Borrower.

  • SOFR Compounded Index means the Compounded SOFR rate as published at 15:00 (New York time) by Federal Reserve Bank of New York (or a successor administrator of SOFR) on the website of the Federal Reserve Bank of New York, or any successor source; and