Adjusted Daily Simple RFR means, for any day (an “RFR Rate Day”), a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to Sterling, the greater of (a) the sum of (i) XXXXX for the day (such day, a “Sterling RFR Determination Day”) that is five (5) RFR Business Days prior to (A) if such RFR Rate Day is an RFR Business Day, such RFR Rate Day or (B) if such RFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such RFR Rate Day, in each case, as such XXXXX is published by the XXXXX Administrator on the XXXXX Administrator’s Website; provided that if by 5:00 p.m. (London time) on the second (2nd) RFR Business Day immediately following any Sterling RFR Determination Day, XXXXX in respect of such Sterling RFR Determination Day has not been published on the XXXXX Administrator’s Website and a Benchmark Replacement Date with respect to the Adjusted Daily Simple RFR for Xxxxxxxx has not occurred, then XXXXX for such Sterling RFR Determination Day will be XXXXX as published in respect of the first preceding RFR Business Day for which such XXXXX was published on the XXXXX Administrator’s Website; provided further that XXXXX as determined pursuant to this proviso shall be utilized for purposes of calculation of Adjusted Daily Simple RFR for no more than three (3) consecutive RFR Rate Days and (ii) the XXXXX Adjustment and (b) the Floor. Any change in Adjusted Daily Simple RFR due to a change in the applicable RFR shall be effective from and including the effective date of such change in the RFR without notice to the Borrowers.
Adjusted Daily Simple RFR means, for any RFR Rate Day, a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to:
Adjusted Daily Simple RFR means, for any day (a “RFR Rate Day”), a rate per annum equal to, for any amounts denominated in, or calculated with respect to
Examples of Adjusted Daily Simple RFR in a sentence
The Loans constituting each RFR Borrowing shall bear interest at a rate per annum equal to Adjusted Daily Simple RFR for the applicable Currency plus the Applicable Margin.
The applicable Alternate Base Rate, Adjusted Term SOFR Rate, Adjusted Daily Simple RFR or Adjusted Eurocurrency Rate and each other Benchmark shall be determined by the Administrative Agent and such determination shall be conclusive absent manifest error.
Advances bearing interest on a Term SOFR basis, an Adjusted Daily Simple RFR basis or an Adjusted Eurocurrency Rate basis shall also be in minimum and incremental amounts of One Hundred Thousand and No/100 Dollars ($100,000.00), and shall be made available not less than three (3) RFR Business Days, nor more than five (5) RFR Business Days, if requested by 10:00 a.m., New York, NY time.
Term SOFR, Adjusted Daily Simple RFR and Adjusted Eurocurrency Rate interest shall be calculated on a 365/366-day year basis and the actual number of days elapsed.
Interest accrued on a Base Rate basis and Adjusted Daily Simple RFR basis shall be payable in quarterly installments, in arrears, commencing on March 31, 2018, and continuing on the last Business Day of each and every calendar quarter thereafter and on the Maturity Date.
More Definitions of Adjusted Daily Simple RFR
Adjusted Daily Simple RFR means with respect to any RFR Borrowing, an interest rate per annum equal to (a) the Daily Simple RFR for Dollars, plus (b) 0.10%; provided that if the Adjusted Daily Simple RFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
Adjusted Daily Simple RFR means, (i) with respect to any RFR Borrowing denominated in Pounds Sterling, an interest rate per annum equal to the greater of (x) the sum of (A) the Daily Simple RFR for Pounds Sterling, plus (B) the XXXXX Adjustment and (y) zero, and (ii) with respect to any RFR Borrowing denominated in Swiss Francs, an interest rate per annum equal to the greater of (x) the sum of (A) Daily Simple RFR for Swiss Francs, plus (B) the SARON Adjustment and (y) zero.
Adjusted Daily Simple RFR means, with respect to any RFR Borrowing denominated inDollars, an interest rate per annum equal to (a) the Daily Simple RFR for Dollars, plus (b) 0.100%;provided that if the Adjusted Daily Simple RFR Rate as so determined would be less than the Floor, suchrate shall be deemed to be equal to the Floor for the purposes of this Agreement.“Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any InterestPeriod, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a)the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided, however,that in no event shall the Adjusted LIBO Rate be less than zero.“Adjusted Term SOFR Rate” means, with respect to any Term Benchmark Borrowingdenominated in Dollars for any Interest Period, an interest rate per annum equal to (a) the Term SOFRRate for such Interest Period, plus (b) 0.100%; provided that if the Adjusted Term SOFR Rate as sodetermined would be less than the Floor, such rate shall be deemed to be equal to the Floor for thepurposes of this Agreement.“Administrative Agent” means JPMorgan, in its capacity as the administrative agent hereunderand under the other Loan Documents, and its successors in such capacity as provided in Article VIII.“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by theAdministrative Agent.“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK FinancialInstitution.“Affiliate” means, with respect to a specified Person, another Person that directly or indirectlyControls, is Controlled by or is under common Control with the Person specified.“Agent Fee Letter” means the Agency Fee Letter, dated December 1, 2021 (as amended fromtime to time), between the Borrower and JPMorgan Chase Bank, N.A.“Agreement” means this Credit Agreement.“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the PrimeRate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus ½ of 1.00% perannum and (c) the Adjusted LIBOTerm SOFR Rate onfor a one month Interest Period as published twoU.S. Government Securities Business Days prior to such day (or if such day is not a U.S. GovernmentSecurities Business Day, the immediately preceding U.S. Government Securities Business Day) for adeposit in dollars with a maturity of one month plus 1.00% per annum; provided that if such rate shall beless than 1.00%, s...
Adjusted Daily Simple RFR means, for any day (an “RFR Rate Day”), a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to Sterling, the greater of (i) the sum of (A) SONIA for the day (such day, a “Sterling RFR Determination Day”) that is five (5) RFR Business Days prior to (I) if such RFR Rate Day is an RFR Business Day, such RFR Rate Day or (II) if such RFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such RFR Rate Day, in each case, as such SONIA is published by the SONIA Administrator on the SONIA Administrator’s Website; provided that if by 5:00 p.m. (London time) on the second (2nd) RFR Business Day immediately following any Sterling RFR Determination Day, SONIA in respect of such Sterling RFR Determination Day has not been published on the SONIA Administrator’s Website and a Benchmark Replacement Date with respect to the Adjusted Daily Simple RFR for Sterling has not occurred, then SONIA for such Sterling RFR Determination Day will be SONIA as published in respect of the first preceding RFR Business Day for which such SONIA was published on the SONIA Administrator’s Website; provided, further, that SONIA as determined pursuant to this proviso shall be utilized for purposes of calculation of Adjusted Daily Simple RFR for no more than three (3) consecutive RFR Rate Days and (B) the SONIA Adjustment and (ii) the Floor. Any change in Adjusted Daily Simple RFR due to a change in the applicable RFR shall be effective from and including the effective date of such change in the RFR without notice to any Borrower.
Adjusted Daily Simple RFR means, for any day (an “RFR Rate Day”), a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to Sterling, the greater of (a) the sum of (i) SONIA for the day (such day, a “ Sterling RFR Determination Day”) that is five
Adjusted Daily Simple RFR means with respect to any RFR Borrowing, an interest rate per annum equal to (a) the Daily Simple RFR, plus (b) 0.10%; provided that if the Adjusted Daily Simple RFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
Adjusted Daily Simple RFR means, (i) with respect to any RFR Borrowing denominated in Pounds Sterling, an interest rate per annum equal to (a) the Daily Simple RFR for Pounds Sterling, plus (b) 0.0326%, (ii) with respect to any RFR Borrowing denominated in Swiss Francs, an interest rate per annum equal to (a) the Daily Simple RFR for Swiss Francs, plus (b) negative 0.0571%, and (iii) with respect to any RFR Borrowing denominated in Dollars, an interest rate per annum equal to (a) the Daily Simple RFR for Dollars, plus (b) 0.10%; provided that if the Adjusted Daily Simple RFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.