Examples of Adjusted Daily Simple SOFR Rate in a sentence
The applicable ABR, Adjusted Term SOFR Rate, Term SOFR Rate, Adjusted Daily Simple SOFR Rate or Daily Simple SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
The Base Rate will then be the Applicable Rate until the Servicer notifies the Borrower that the circumstances described herein no longer exist, in which case the Applicable Rate will be converted to the Adjusted Daily Simple SOFR Rate from the date of the Servicer’s notice that such circumstances no longer exist.
Unless the Default Rate is applicable under the terms of the Loan Documents and except as otherwise provided in Section 3.06(c) or 3.06(d) hereof, the outstanding principal balance of the Loan will bear interest at the Adjusted Daily Simple SOFR Rate.
Provided no Event of Default has occurred and is continuing and subject to the provisions of Section 3.5, Borrower may elect to have the Adjusted LIBORTerm SOFR Rate or the Adjusted Daily Simple SOFR Rate apply or continue to apply to all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note.
The Servicer shall determine the interest rate applicable to the Bonds calculated at the Adjusted Daily Simple SOFR Rate for each day.