Common use of Term SOFR Option Clause in Contracts

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.

Term SOFR Option. In the case of Term SOFR LoansRate Loans denominated in Dollars, a rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to the Term SOFR as determined Rate for each applicable Interest Period.Period plus the SOFR Adjustment for the applicable Interest Period plus the Applicable Margin; or