Term Benchmark Loan definition

Term Benchmark Loan means a Loan that bears interest at a rate based on the Adjusted Term SOFR Rate.

Term Benchmark Loan means a Loan that bears interest at a rate based upon the applicable Term Benchmark.

Term Benchmark Loan means monies lent by the Lenders to the Borrower hereunder and upon which interest accrues at a rate referable to the Adjusted Term SOFR Rate.

Examples of Term Benchmark Loan in a sentence

• Each Lender at its option may make any Term Benchmark Loan or RFR Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

• Each Term Benchmark Loan shall be denominated in Dollars or an Agreed Foreign Currency (other than Sterling and Swiss Francs).

• If such Bank shall determine that it may not lawfully continue to maintain and fund any of its outstanding Term Benchmark Loans to maturity and shall so specify in such notice, the Borrower shall immediately convert the outstanding principal amount of such Term Benchmark Loan to a Base Rate Loan (on which interest and principal shall be payable contemporaneously with the related Term Benchmark Loans of the other Banks).

• The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each Term Benchmark Loan, shall be subject to indemnification by the Borrower pursuant to the provisions of Section 2.16 if the deemed payment occurs other than on the last day of the related Interest Periods.

• Concurrently with prepaying each such Term Benchmark Loan or RFR Loan, the Borrower shall borrow a Base Rate Loan in an equal principal amount from such Bank (on which interest and principal shall be payable contemporaneously with the related Term Benchmark Loans or RFR Loans of the other Banks), and such Bank shall make such a Base Rate Loan.

More Definitions of Term Benchmark Loan

Term Benchmark Loan means a Committed Loan or Competitive Loan that bears interest at the Adjusted Term SOFR Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election, provided, however, that this definition does not include any Loan bearing interest pursuant to clause (c) of the definition of “Alternate Base Rate”.

Term Benchmark Loan means any Term Benchmark Term Loan or Term Benchmark Revolving Loan.

Term Benchmark Loan means a Loan which bears interest at the Adjusted Term SOFR Rate.

Term Benchmark Loan means a Term Benchmark Tranche A Loan or a Term Benchmark Tranche B Loan.

Term Benchmark Loan means a Loan that bears interest at a rate determined by reference to the Adjusted Term SOFR Rate.

Term Benchmark Loan means any Revolving Loan, denominated in either Dollars or Euro, bearing interest at a rate determined by reference to Adjusted Term SOFR or the EURIBO Rate, as applicable (other than pursuant to clause (c) of the definition of “Alternate Base Rate”), in accordance with the provisions of Article II.

Term Benchmark Loan means a Revolving Loan bearing interest prior to maturity at the rate specified in Section 2.6(b).