Term SOFR Option Sample Clauses

Term SOFR Option. In the case of Term SOFR Loans, a rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to Term SOFR as determined for each applicable Interest Period.
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Term SOFR Option. (a) The Borrowers may, at any time and from time to time, so long as no Default or Event of Default has occurred and is continuing, elect to have interest on all or a portion of the Loans be charged at a rate of interest based upon the Term SOFR (the “Term SOFR Option”) by notifying the Administrative Agent in writing prior to 11:00 a.m. (New York City time) at least 1 U.S. Government Securities Business Day prior to (i) the proposed borrowing date of a Loan (as provided in Section 2.02), (ii) in the case of the conversion of a Reference Rate Loan to a Term SOFR Loan, the commencement of the proposed Interest Period or (iii) in the case of the continuation of a Term SOFR Loan as a Term SOFR Loan, the last day of the then current Interest Period (the “Term SOFR Deadline”). Notice of the Borrowers’ election of the Term SOFR Option for a permitted portion of the Loans and an Interest Period pursuant to this Section 2.07(a) shall be made by delivery to the Administrative Agent of (A) a Notice of Borrowing (in the case of the initial making of a Loan) in accordance with Section 2.02 or (B) a Term SOFR Notice prior to the Term SOFR Deadline (by delivery to the Administrative Agent of a Term SOFR Notice received by the Administrative Agent prior to 5:00 p.m. (New York City time) on the same day)). Promptly upon its receipt of each such Term SOFR Notice, the Administrative Agent shall provide a copy thereof to each of the Lenders. Each Term SOFR Notice shall be irrevocable and binding on the Borrowers. (b) Interest on Term SOFR Loans shall be payable in accordance with Section 2.04(d). On the last day of each applicable Interest Period, unless the Borrowers properly have exercised the Term SOFR Option with respect thereto, the interest rate applicable to such Term SOFR Loans automatically shall convert to the rate of interest then applicable to Reference Rate Loans of the same type hereunder. At any time that a Default or an Event of Default has occurred and is continuing, the Borrowers no longer shall have the option to request that any portion of the Loans bear interest at the Term SOFR and the Administrative Agent shall have the right to convert the interest rate on all outstanding Term SOFR Loans to the rate of interest then applicable to Reference Rate Loans of the same type hereunder on the last day of the then current Interest Period. (c) Notwithstanding anything to the contrary contained in this Agreement, the Borrowers (i) shall have not more than 5 Term ...
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Term SOFR Option. At a rate per annum equal at all times to 1.45% above Term SOFR for the applicable Interest Period as published by the Term SOFR Administrator on the date that is two U.S. Government Securities Business Days prior to the first day of such interest period (the “Term SOFR Option”). Under the Term SOFR Option, rates may be fixed on balances of $100,000 or in multiples thereof for Interest Periods of one or three months, as selected by the Company; provided, however, that: (a) in no event may rates be fixed for Interest Periods extending past the Maturity Date; and (b) the maximum number of balances that may be subject to the Term SOFR Option at any one time shall be five.
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Term SOFR Option. 73 2.13. Capital Requirements..........................................................................................77 2.14.
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Term SOFR Option the Term SOFR Rate (computed on the basis of a year of 360 days and actual days elapsed) as determined for each applicable Interest Period; or
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Term SOFR Option 
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Related to Term SOFR Option

  • The Optional Shares; Option Closing Date In addition, on the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an option to the several Underwriters to purchase, severally and not jointly, up to an aggregate of 1,304,347 Optional Shares from the Company at the purchase price per share to be paid by the Underwriters for the Firm Shares less an amount per share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Optional Shares. The option granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representatives to the Company, which notice may be given at any time within 30 days from the date of this Agreement. Such notice shall set forth (i) the aggregate number of Optional Shares as to which the Underwriters are exercising the option and (ii) the time, date and place at which the Optional Shares will be delivered (which time and date may be simultaneous with, but not earlier than, the First Closing Date; and in the event that such time and date are simultaneous with the First Closing Date, the term “First Closing Date” shall refer to the time and date of delivery of the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” and shall be determined by the Representatives and shall not be earlier than two or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.