SOFR-Based Rate definition

SOFR-Based Rate means SOFR or Term SOFR.

SOFR-Based Rate. SOFR or Term SOFR.

SOFR-Based Rate means SOFR or TermSOFR Determination Date” has the meaning specified in the definition of “Daily Simple SOFR”.

Examples of SOFR-Based Rate in a sentence

• In connection with the use or administration of any SOFR-Based Rate, Lender will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

• Maker may prepay (with notice to Holder) any of the OPB or any accrued interest on the Revolver, in whole or in part, at any time and from time to time, without penalty or prepayment charge; provided, however, that if a Swap Contract with a Daily Simple SOFR-Based Rate is in effect between Holder and Maker in connection with a loan made pursuant to this Revolver Note, any applicable swap breakage fees, penalties, premiums and costs will apply.

• Notwithstanding the foregoing or anything to the contrary herein, if at any time(s) Borrower and Lender enter into any Swap Agreement with respect to any Loan, such Loan shall bear interest at the Daily Simple SOFR-Based Rate and Lender, in its reasonable discretion, may adjust, to coordinate with its and/or industry practices pursuant to the Swap Agreement, any or all of: (i) the capitalized terms defined in this Section, and the determination and application thereof; and (ii) interest payment dates.

• Borrower may from time to time prepay any principal bearing interest at any Interest Rate Option in whole or in part without breakage fee, penalty or premium; provided, however, that if a Swap Agreement with a Daily Simple SOFR-Based Rate is in effect between Lender and Borrower in connection with a Loan made pursuant to this Note, any applicable swap breakage fees, penalties, premiums and costs will apply.

• If the Benchmark Replacement is Daily Simple SOFR-Based Rate, the Lenders shall be entitled to object only to the Benchmark Replacement Adjustment contain therein.

More Definitions of SOFR-Based Rate

SOFR-Based Rate has the meaning specified in Section 3.03(b).

SOFR-Based Rate means SOFR and Term SOFR.

SOFR-Based Rate means SOFR or Term SOFRSOFR Adjustment” means 0.10% (10.00 basis points) per annum.

SOFR-Based Rate means SOFR, CompoundedSOFR Determination Date” has the meaning specified in the definition of “Daily Simple SOFR or Term SOFR”. “SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”. “Solvent” means, with respect to the Borrower and its Subsidiaries, (i) the fair value of the assets of the Borrower and its Subsidiaries taken as a whole as a going concern, at a fair valuation, exceed and will exceed their debts and liabilities, subordinated, contingent or otherwise; (ii) the present fair saleable value of the property of the Borrower and its Subsidiaries taken as a whole as a going concern will be greater than the amount that will be required to pay the probable liability of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii) the Borrower and its Subsidiaries will be able to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (iv) the Borrower and its Subsidiaries do not and will not have unreasonably small capital with which to conduct the business in which they are engaged as such business is presently conducted and is proposed to be conducted in the future. “Specified Swap Obligation” means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder. “Standard Securitization Undertakings” means representations, warranties, covenants and indemnities entered into by the Borrower or any Subsidiary thereof in connection with the Permitted Receivables Facility which are reasonably customary in an accounts receivable financing transaction; provided, that the representations, warranties, covenants and indemnities set forth in the Existing Permitted Receivables Facility Documents are deemed to be “Standard Securitization Undertakings”. “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Federal Reserve Board to which the Administrative Agent is subject, with respect to the Adjusted LIBO Rate, for eurocurr...

SOFR-Based Rate means a rated based on SOFR, including Daily Simple SOFR or Term SOFR.

SOFR-Based Rate means Daily Simple SOFR and the Term SOFR Reference Rate, as applicable.

SOFR-Based Rate means SOFR, Compounded SOFR or Term SOFR Administrator” means the NYFRB (or a successor administrator of the secured overnight financing rate).