Daily Simple SOFR Advances Sample Clauses
Daily Simple SOFR Advances. If applicable pursuant to Section 2.08, during such periods as such Advance is a Daily Simple SOFR Advance, a rate per annum equal at all times to the sum of (A) the Adjusted Daily Simple SOFR in effect from time to time plus (B) the Applicable Interest Rate Margin in effect from time to time, payable in arrears on each date that is on the numerically corresponding day in each calendar month that is one month after the borrowing of, or Conversion to, such Daily Simple SOFR Advance (or, if there is no such corresponding day in such month, then the last day of such month), and on the date such Daily Simple SOFR Advance shall be paid in full and on the Maturity Date.
Daily Simple SOFR Advances. During such periods as such Revolving Advance is a Daily Simple SOFR Advance, a rate per annum equal at all times to the sum of (x) Daily Simple SOFR plus (y) the Applicable Rate for Daily Simple SOFR Advances in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Daily Simple SOFR Advance shall be Converted or paid in full.
Daily Simple SOFR Advances. During such periods as such Advance is a Daily Simple SOFR Advance, a rate per annum equal to all times to the sum of (x) the Daily Simple SOFR rate applicable to such Advances, as in effect from time to time (it being understood that Daily Simple SOFR shall be determined on a daily basis) plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last AMERICAS/2024254939.6 87 Sealed Air – 4th A&R Syndicated Facility Agt Business Day of each calendar month and the Termination Date, in each case payable in Dollars.
Daily Simple SOFR Advances. Each Daily Simple SOFR Advance bears interest at the Adjusted Daily Simple SOFR in effect from time to time, plus the Applicable Margin. Such interest is payable by the Borrower in arrears on each Interest Payment Date and, to the extent such Daily Simple SOFR Advance is then outstanding, on the Final Maturity Date (whether by acceleration or otherwise).
Daily Simple SOFR Advances by the Borrower to the Administrative Agent, which shall give to each Lender prompt notice of its receipt thereof by telecopier or other electronic transmission, and (B) the Notice of Borrowing relating to such Borrowing shall contain a request for a waiver setting forth specifically the Default or event which, but for the application of the last sentence of Section 6.01, would be such a Default that is requested to be waived by the Required Lenders, or by each of the Lenders, as set forth in Section 3.02(b). Each Lender shall, before 12:00 noon (New York City time) on the date of such Borrowing (in the case of a Borrowing consisting of Term BenchmarkSOFR Advances), and before 2:00 P.M. (New York City time) on the date of such Borrowing (in the case of a Borrowing consisting of Base Rate Advances or Daily Simple SOFR Advances), make available for the account of its Applicable Lending Office to the Administrative Agent at the account of the Administrative Agent’s Account most recently designated by it for such purpose by notice to the Lenders, in same day funds, such Lender’s ratable portion of such Borrowing. After the Administrative Agent’s receipt of such funds, the Administrative Agent will make such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s address referred to in Section 8.02 or at an account designated by the Borrower to the Administrative Agent in such Notice of Borrowing; provided, however, that the Administrative Agent shall first make a portion of such funds equal to the aggregate principal amount of any Letter of Credit Advances outstanding on the date of such Borrowing, plus interest accrued and unpaid thereon and fees and other amounts due and payable in respect of such Letter of Credit Advances to and as of such date, available to the appropriate Issuing Bank and/or other Lenders for repayment of such Letter of Credit Advances.