Daily Resetting SOFR Option. In the case of Daily Resetting SOFR Investments denominated in Dollars, a fluctuating rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to Daily Resetting SOFR plus the SOFR Adjustment, such discount rate to change automatically from time to time effective as of the effective date of each change in Daily Resetting SOFR; provided, that if the Daily Resetting SOFR Option, determined as provided above, would be less than the Floor, then the Daily Resetting SOFR Option shall be deemed to be the Floor; or
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Wesco International Inc), Receivables Purchase Agreement (Wesco International Inc), Receivables Purchase Agreement (Wesco International Inc)
