Adjusted Daily SOFR Rate definition

Adjusted Daily SOFR Rate means with respect to the unpaid principal balances of the Floor Plan Loans, that rate per annum that is equal to the sum of: (a) the Daily SOFR Rate; plus (b) the Applicable Margin.
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Adjusted Daily SOFR Rate means the greater of (1) the sum of (a) the Daily SOFR Rate plus (b) the SOFR Index Adjustment, and (2) the Floor.
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Adjusted Daily SOFR Rate means the Daily Simple SOFR plus the Margin, adjusting daily with each change in the Daily Simple SOFR rate throughout the term of the Bonds.
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Examples of Adjusted Daily SOFR Rate in a sentence

  • Subject to the terms of this Section, interest may accrue at the election of the Borrower Representative (a) with respect to Revolving Credit Loans, at the Adjusted SOFR Rate for Interest Periods and on portions of the unpaid principal balances of the Revolving Credit Loans, as selected by the Borrower Representative and (b) with respect to Floor Plan Loans, at the Adjusted Daily SOFR Rate on the principal balances outstanding of the Floor Plan Loans.

  • Subject to the last sentence of this clause (b) and to the operation and effect of Sections 2.07.4 and 2.07.5 hereof, the principal balance of any advanced and outstanding Floor Plan Loans shall bear interest at the Adjusted Daily SOFR Rate.

  • Payments on account of interest applicable to Floor Plan Loans shall be applied by the Administrative Agent to outstanding balances of such Loans accruing or having accrued interest at the Adjusted Daily SOFR Rate and balances of such Loans accruing or having accrued interest at the Adjusted Base Rate, in such order or proportion as the Administrative Agent, in its sole discretion, shall determine.

  • The Term SOFR Rate or Adjusted Term SOFR Rate for any SOFR Period or the Daily SOFR Rate or Adjusted Daily SOFR Rate, as the case may be, shall be determined by CIBC if and whenever such determination is required for the purpose of this Agreement, and such determination by CIBC shall be conclusive evidence of such rate.

  • The Borrower will not be entitled to obtain any SOFR (DS) Loan from CIBC based on the Daily SOFR Rate or Adjusted Daily SOFR Rate so long as any of the circumstances set out in this Section continue to exist, and any Loan that would otherwise have been made by CIBC as a SOFR (DS) Loan shall instead be made as a Loan in US Dollars bearing interest on the basis of the DS Replacement Benchmark Rate.


More Definitions of Adjusted Daily SOFR Rate

Adjusted Daily SOFR Rate means the rate per annum equal to (a) the Daily SOFR Rate plus (b) the DS SOFR Adjustment; provided, that if the Adjusted Daily SOFR Rate as so determined shall ever be less than zero (0), then the Adjusted Daily SOFR Rate shall be deemed to be zero (0).
Sample 1
Adjusted Daily SOFR Rate means, for any day, an interest rate equal to the Daily SOFR, plus 0.10%; provided that if the Adjusted Daily SOFR Rate 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.
Sample 1

Related to Adjusted Daily SOFR Rate

  • Adjusted Daily Simple SOFR means an interest rate per annum equal to (a) the Daily Simple SOFR, plus (b) 0.10%; provided that if the Adjusted Daily Simple SOFR 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.

  • Compounded Daily SOFR means, in relation to a Floating Rate Interest Period, the rate of return of a daily compound interest investment (with SOFR as reference rate for the calculation of interest) during the related Observation Period and will be calculated by the Calculation Agent on the related Interest Determination Date as follows: Where:

  • Compounded Daily €STR means, with respect to any Interest Period, the rate of return of a daily compound interest investment (with the daily euro short-term rate as reference rate for the calculation of interest) as calculated by the Calculation Agent as at the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded if necessary to the nearest fifth decimal place, with 0.000005 being rounded upwards):

  • Compounded Daily SONIA means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment (with the daily SONIA reference rate as reference rate for the calculation of interest) and will be calculated by the Calculation Agent (or such other party responsible for the calculation of the interest rate, as specified in the applicable Pricing Supplement) on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 per cent being rounded upwards:

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Adjusted LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

  • Adjusted Eurodollar Rate means, for any Eurodollar Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined by Administrative Agent to be equal to the quotient obtained by dividing (a) the Eurodollar Rate for such Eurodollar Loan for such Interest Period by (b) 1 minus the Reserve Requirement for such Eurodollar Loan for such Interest Period.