USD SOFR definition

USD SOFR means that the rate for a Reset Date will be SOFR as provided by the administrator of SOFR to, and published by, authorized distributors of SOFR in respect of that day at approximately 8:00 a.m., New York City time (or any amended publication time as specified by the administrator of SOFR in the SOFR benchmark methodology), on the SOFR Fixing Day, as calculated pursuant to the applicable Compounding Method, provided that the following shall apply for these purposes.
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USD SOFR means a rate per annum equal to the secured overnight financing rate for such Business Day published by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve Bank of New York, currently at h▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇ (or any successor source for the secured overnight financing rate identified as such by the administrator of the secured overnight financing rate from time to time).
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USD SOFR means a rate equal to the secured overnight financing rate as administered by the USD Term SOFR Administrator.
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Examples of USD SOFR in a sentence

  • Any undisputed payments to be made hereunder that are not paid on or before the date such payments are due under this Agreement will bear interest at a rate per annum equal to the lesser of (i) [***]% above the six-month CME Term Secured Overnight Financing Rate (USD SOFR) from the date on which such payment would have been first due until the date of payment, or (ii) the maximum rate permissible under Applicable Law.

  • Any amount owed by either Party under this Agreement that is not paid within the applicable time period set forth herein will accrue interest thereon at an annual rate (but with interest accruing on a daily basis) of [***] percentage points above the CME Term Secured Overnight Financing Rate (USD SOFR) of twelve (12) month rate on which such payment was originally due until the date of payment, provided that such rate shall not exceed the rate permissible under Applicable Law.

  • Any payments or portions thereof due hereunder that are not paid on the date such payments are due under this Agreement shall bear interest at a rate equal to the lesser of: (a) [**] percentage points above the CME Term Secured Overnight Financing Rate (USD SOFR) on the first day of each Calendar Quarter in which such payments are overdue, and (b) the maximum rate permitted by Applicable Law; in each case calculated on the number of days such payment is delinquent, compounded monthly.


More Definitions of USD SOFR

USD SOFR means the relevant interest rate (Secured Overnight Financing Rate) published daily by the Federal Reserve Bank of New York (or such other entity as may assume the obligation). If the USD SOFR is negative, the USD SOFR is set to zero.
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