SOFR Loan definition

SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

SOFR Loan means any Revolving Loan bearing interest at a rate based on Adjusted Term SOFR as provided in Section 3.1(a)(ii).

Examples of SOFR Loan in a sentence

• If no -11- election is received with respect to a SOFR Loan by 2:00 p.m. (New York time) on the third (3rd) Business Day prior to the end of the Interest Period with respect thereto, that SOFR Loan shall be converted to a Base Rate Loan at the end of its Interest Period.

• Any prepayment of a BSBY RateTerm SOFR Loan or an Alternative Currency Term Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.

• Any Term Loan or group of Term Loans having the same proposed Interest Period to be made or continued as, or converted into, a SOFR Loan must be in a minimum amount of $250,000.

• Subject to Section 2.7(b), (i) each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin for such Loan; and (ii) each SOFR Loan shall bear interest at a rate per annum equal to the Term SOFR for the Interest Period therefor plus the Applicable Margin for such Loan.

• Except as otherwise provided herein, a BSBY RateTerm SOFR Loan may be continued or converted only on the last day of an Interest Period for such BSBY RateTerm SOFR Loan.

More Definitions of SOFR Loan

SOFR Loan means a Loan that bears interest at a rate based on Term SOFR.

SOFR Loan means any Daily Simple SOFR Loan or Term SOFR Loan.

SOFR Loan means each Daily Simple SOFR Loan and each Term SOFR Loan.

SOFR Loan means a Loan bearing interest based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate.”

SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “ABR”.

SOFR Loan a Loan that bears interest at a rate based on Daily Simple SOFR and Term SOFR, other than, in each case, pursuant to clause (c) of the definition of “Base Rate”. “SOFR Rate Day”: as defined in the definition of “Daily Simple SOFR”. “Solvent”: with respect to any Person, as of any date of determination, (a) the amount of the “present fair saleable value” of the assets of such Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as such quoted terms are determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of such Person will, as of such date, be greater than the amount that will be required to pay the liability of such Person on its debts as such debts become absolute and matured, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its business, and (d) such Person will be able to pay its debts as they mature. For purposes of this definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured. “SPC”: as defined in Section 10.6(g). “Specially Designated Nationals List”: the Specially Designated Nationals and Blocked Persons List maintained by OFAC and available at xxxx://xxx.xxxxxxx.xxx/offices/ enforcement/ofac/sdn/, or as otherwise published from time to time. “STAR Report”: with respect to any Real Property, a Xxxxx Travel Accommodation Report (STAR) by Xxxxx Travel Research or any other report which reflects market penetration and relevant hotel properties competing with such Real Property, in each case in form and substance reasonably satisfactory to the Administrative Agent. “State”: any state, commonwealth or territory of the United States of America, in which the subject of such reference or any part thereof is located. “Subsidiary”: as to any Person, a corporation, partnership, limited liability company or other entity of which sha...

SOFR Loan or “Base Rate Loan”) or by Class and Type (e.g. “Revolving SOFR Loan”). Borrowings also may be classified and referred to by Class (e.g. “Revolving Borrowing”) or by Type (e.g. “SOFR Borrowing”) or by Class and Type (e.g. “Revolving SOFR Borrowing”).