Term SOFR Rate Borrowing definition

Term SOFR Rate Borrowing means each Borrowing of a Term SOFR Rate Loan.
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Term SOFR Rate Borrowing means a Borrowing comprising Term SOFR Rate Loans. “Term SOFR Determination Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate. “Term SOFR Rate” means with respect to any Term SOFR Rate Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator; provided that in no event shall the Term SOFR Rate for any Interest Period (i) for Term B Loans be less than 0.50% or (ii) for any other Loans, be less than 0.00%. “Term SOFR Rate Loan” means the forward-looking term a Loan, denominated in Dollars, that bears interest at a rate based on SOFR that has been selected or recommended by the Relevant Governmental Bodythe applicable Term SOFR Rate. “Term SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any Term SOFR Rate Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period, the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR. If by 5:00 pm (New York City time) on such Term SOFR Determination Day, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate was published by the CME Term SOFR Administrator, so long as such first preceding Business Day is not more than five (5) Business Days prior to such Term SOFR Determination Day. “Threshold Amount” means the greater of (x) $33,000,000 and (y) 33% of Consolidated EBITDA.
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Examples of Term SOFR Rate Borrowing in a sentence

  • Thereafter, a Borrower may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of an Adjusted Term SOFR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section.

  • Thereafter, the Company may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Term SOFR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.07.

  • To request a Borrowing (other than a Swingline Loan), the Company shall notify the Administrative Agent of such request by telephone or in writing (a) in the case of a Term SOFR Rate Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the day of the proposed Borrowing.

  • Thereafter, thea Borrower may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing oran Adjusted Term SOFR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section.

  • To request a Borrowing, the Company shall notify the Administrative Agent of such request (a) in the case of a Term SOFR Rate Borrowing or a Quoted Rate Borrowing, not later than 11:00 a.m., Denver, Colorado time, two Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing or a Daily Simple SOFR Rate Borrowing, not later than 11:00 a.m., Denver, Colorado time, on the date of the proposed Borrowing.

  • Thereafter, the Company may elect to convert such Borrowing to a different Type or to continue such Borrowing (provided, that in the case of a Quoted Rate Borrowing, such Borrowing shall continue as a Quoted Rate Borrowing until the earlier to occur of a conversion of such Quoted Rate Borrowing to another Type pursuant to this Section or the payment in full of such Borrowing) and, in the case of a Term SOFR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section.

  • Thereafter, the Borrower may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Term SOFR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section.

  • Subject to the provisions of Section 2.06(g), following a USD LIBOR Transition Event, the Loans comprising each Term SOFR Rate Borrowing, shall bear interest at a rate per annum equal to the then-applicable Benchmark forTerm SOFR Rate Loans plus the Applicable Margin.

  • Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Eurodollaran Adjusted Term SOFR Rate Borrowing of, conversion to or continuation of EurodollarAdjusted Term SOFR Rate Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to ABRBase Rate Loans.

  • All Taxes required by law to be deducted by the Borrower from any amounts paid or payable under the Finance Documents shall be paid by the Borrower when due and the Borrower shall, within fifteen (15) days of the payment being made, deliver to the Agent for the relevant Senior Lender evidence satisfactory to that Senior Lender (including all relevant tax receipts) that the payment has been duly remitted to the appropriate authority.

Related to Term SOFR Rate Borrowing

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Base Rate Borrowing means a Borrowing consisting of Base Rate Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing.

  • Term Borrowing means a borrowing consisting of Term Loans of the same Type and the same Class and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders of the applicable Class under this Agreement.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Term Loan Borrowing means a borrowing consisting of Term Loans made on the same day by the Term Loan Lenders ratably according to their respective Term Loan Commitments.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.