SOFR Rate Loans. Subject to the provisions of subsection (c) and the limitations on the Maximum Rate set forth in Section 2.12 below, each SOFR Rate Loan will bear interest on the outstanding principal amount thereof at a rate per annum equal to the sum of (A) the SOFR Rate as in effect from time to time, plus (B) the Applicable Rate, as in effect from time to time, from the date such Loan is advanced or created by conversion from a Floating Rate Loan, until maturity (whether by acceleration or otherwise). The SOFR Rate shall be reset on the first day of each month (herein, each a “Change Date”) and remain in effect until the next Change Date.
SOFR Rate Loans. (i)For SOFR Rate Loans in connection with which the Borrower has incurred or may incur Hedging Obligations, additional obligations may be associated with prepayment, in accordance with the terms and conditions of the applicable Hedging Contracts. The Borrower shall give the Administrative Agent, no later than 10:00 a.m. (prevailing time in Pittsburgh, Pennsylvania) at least four (4) Business Days' notice of any proposed prepayment of any SOFR Rate Loan, specifying the proposed date of payment of such SOFR Rate Loan (which date shall be a Business Day), a statement indicating the application of the prepayment of Loans to which the Base Rate Option applies and Loans to which the SOFR Rate Option applies, and the principal amount to be paid. Each partial prepayment of the principal amount of a SOFR Rate Loan shall be in an integral multiple of One Hundred Thousand Dollars ($100,000.00) and accompanied by the payment of all charges outstanding on such SOFR Rate Loan and of all accrued interest on the principal repaid to the date of payment.
SOFR Rate Loans. Except as otherwise provided herein, a SOFR Rate Loan may be continued or converted only on the last day of the Interest Period for such SOFR Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as SOFR Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the then outstanding SOFR Rate Loans be converted immediately to Base Rate Loans.
SOFR Rate Loans. Subject to the provisions of Section 2.06(g), following a USD LIBOR Transition Event, the Loans comprising each SOFR Rate Borrowing, shall bear interest at a rate per annum equal to the then-applicable Benchmark for SOFR Rate Loans plus the Applicable Margin.
SOFR Rate Loans. During such periods as such Loan is a SOFR Rate Loan, a rate per annum equal at all times during each Interest Period for such Loan to the sum of (x) Adjusted Term SOFR for such Interest Period for such Loan plus (y) the Applicable Margin for SOFR Rate Loans in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such SOFR Rate Loan shall be Converted or paid in full.
SOFR Rate Loans
