Term SOFR Advance definition

Term SOFR Advance means an Advance that, except as otherwise provided in Section 2.11, bears interest at the applicable Term SOFR Rate.

Term SOFR Advance means a Revolving Credit Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

Examples of Term SOFR Advance in a sentence

• Each Term SOFR Advance to be made on a Borrowing Date, when aggregated with all amounts to be Converted to Term SOFR Advances on such date and having the same Interest Period as such Term SOFR Advance, shall equal no less than $50,000,000, or an integral multiple of $1,000,000 in excess thereof.

• ABR Advances and Term SOFR Advances may be Converted pursuant to this Section 3.3 in whole or in part; provided that the amount to be Converted to each Term SOFR Advance, when aggregated with any Term SOFR Advance to be made on such date in accordance with Section 2.1 and having the same Interest Period as such first Term SOFR Advance, shall equal no less than $50,000,000 or an integral multiple of $1,000,000 in excess thereof or the entire remaining amount of the Term SOFR Advances.

• Each such notice shall specify (i) the aggregate amount requested to be borrowed under the Commitments, (ii) the proposed Borrowing Date, (iii) whether a borrowing of Term Loans is to be made as an ABR Advance, one or more Term SOFR Advances, or both, and the amount of each thereof and (iv) the Term SOFR Interest Period for each such Term SOFR Advance.

• Solely for the purpose of calculating break funding payments under Section 3.5, the assignment by any Replaced Lender of any Term SOFR Advance prior to the last day of the Interest Period applicable thereto pursuant to clause (x) or (z) of this Section 3.13 shall be deemed to constitute a prepayment by the Borrower of such Term SOFR Advance.

More Definitions of Term SOFR Advance

Term SOFR Advance means an Advance consisting of Term SOFR Loans.

Term SOFR Advance means a Revolving Credit Advance denominated in Dollars that bears interest as provided in Section 2.5(b).

Term SOFR Advance means, at any time, the part of the Advances with respect to which the Borrower has chosen to pay interest on the Term SOFR Basis.

Term SOFR Advance a portion of the Revolving Credit Loans selected by the Borrower to bear interest during a Term SOFR Interest Period selected by the Borrower at a rate based upon Term SOFR, all pursuant to and in accordance with Section 2.1 or Section 3.3.

Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of “Term SOFR”. All Term SOFR Advances must be denominated in U.S. Dollars.

Term SOFR Advance means an Advance that, except as otherwise provided in Section 3.1(d), bears interest at the applicable Term SOFR Rate other than pursuant to clause (d) of the definition of Base Rate.

Term SOFR Advance has the meaning set forth in Section 1.02 of the Series 2022-1 Class A-1 Note Purchase Agreement.