Adjusted LIBO RateTerm SOFR definition
Adjusted LIBO RateTerm SOFR means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO RateTerm SOFR for such Interest Period multiplied byplus (b) the Statutory Reserve Percentage0.10%; provided that if the Adjusted LIBO Rate shallsuch rate as so determined would be less than zero, such rate shall be deemed to be equal to zero for the purposes of this Agreement.
Adjusted LIBO RateTerm SOFR means, with respect to any Eurodollar Borrowing for any Interest Period (or, solely for purposes of clause (c) of the defined term "Alternate Base Rate", for purposes of determining the Alternate Base Rate as of any date), an interestany calculation, the rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the product of (a) the LIBO Rate in effectTerm SOFR for such Interest Period (or such date, ascalculation plus (b) the applicable) and (b) the Statutory Reserves Term SOFR Adjustment; provided, however, that theif Adjusted LIBO RateTerm SOFR as so determined shall at no timeever be less than 0.50% per annumthe Floor, then Adjusted Term SOFR shall be deemed to be the Floor.
Adjusted LIBO RateTerm SOFR means, with respect to any LIBO Rate Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO RateTerm SOFR for such Interest Period multiplied by (b) the Statutory Reserve Rate, plus (b)(i) 0.11448% for a one-month Interest Period, (ii) 0.26161% for a three-month Interest Period and (iii) 0.42826% for a six-month Interest Period; provided that, notwithstanding the foregoing, the Adjusted LIBO RateTerm SOFR shall at no time be less than 0.50% per annum.
Examples of Adjusted LIBO RateTerm SOFR in a sentence
The applicable Alternate Base Rate or Adjusted LIBO RateTerm SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Each ▇▇▇▇▇▇ agrees to notify the Administrative Agent and the Borrower in writing promptly upon becoming aware that it is no longer illegal for such Lender to determine or charge interest rates based upon the Adjusted LIBO RateTerm SOFR.
The applicable Alternate Base Rate and Adjusted LIBO RateTerm SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
The applicable Alternate Base Rate or Adjusted LIBO RateTerm SOFR for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Such loss, cost or expense shall in no event exceed that which would have been incurred by such Lender had it funded each EurodollarSOFR Loan made by it at the Adjusted LIBO RateTerm SOFR for such Loan by a matching deposit or other borrowing in the applicable interbank eurodollarSOFR market for a comparable amount and for a comparable period, whether or not such EurodollarSOFR Loan was in fact so funded.
More Definitions of Adjusted LIBO RateTerm SOFR
Adjusted LIBO RateTerm SOFR means, with respect to any EurocurrencyTerm Benchmark Borrowing for any Interest Period or for any Borrowing of Base Rate Loans, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO RateTerm SOFR for such Interest Period multiplied by, plus (b) the Statutory Reserve RateTerm SOFR Adjustment provided that if the Adjusted Term 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. 4879-0244-9248v.71 US 9692390v.1 CHA715/20025
Adjusted LIBO RateTerm SOFR means, for any Interest Rate Determination Date with respect to an Interest Period for an Adjusted LIBO RateTerm SOFR Loan and subject to the provisions of Section 3.1(b): (a) the rate per annum (rounded upward to the next whole multiple of one sixteenth of one percent (1/16 of 1.00%)) equal to LIBOR or a comparable or successor rate, which rate is approved by the Lender, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Lender from time to time) for deposits (for delivery on the first (1st) day of such period) with a term equivalent to such period in Dollars, determined as of approximately 11:00 a.m. (London, England time) on such Interest Rate Determination Date; (b) in the event the rate referenced in the foregoing clause (a) does not appear on such page or service, or if such page or service shall cease to be available, the rate per annum (rounded upward to the next whole multiple of one sixteenth of one percent (1/16 of 1.00%)) equal to the rate determined by the Lender to be the offered rate on such other page or other service that displays an average settlement rate for deposits (for delivery on the first (1st) day of such period), with a term equivalent to such period, in Dollars, determined as of approximately 11:00 a.m. (London, England time) on such Interest Rate Determination Date; or (c) in the event the rates referenced in the foregoing clauses (a) and (b) are not available, the rate per annum (rounded upward to the next whole multiple of one sixteenth of one percent (1/16 of 1.00%)) LEGAL02/44107030v1
Adjusted LIBO RateTerm SOFR means, with respect to any Eurodollar Borrowing for purposes of any Interest Periodcalculation, an interest rate per annum equal to the greater of (a) 1.00% per annum and (Term SOFR plus (b) the product of (i) the LIBO Rate in effect for suchthe case of an Interest Period of one-month’s duration, 0.11448% (11.448 basis points), (ii) in the case of an Interest Period and (ii) Statutory Reservesof three-months’ duration, 0.26161% (26.161 basis points), and (iii) in the case of an Interest Period of six-months’ duration, 0.42826% (42.826 basis points); provided that, if Adjusted Term SOFR determined as provided above shall ever be less than the Floor, then Adjusted Term SOFR shall be deemed to be the Floor.
Adjusted LIBO RateTerm SOFR 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.Term SOFR, plus (b) a percentage per annum equal to 0.10%; provided that if Adjusted Term 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. “Adjustment Date” has the meaning set forth in the definition of Applicable Pricing Grid. “Administrative Agent” means JPMorgan Chase Bank, N.A., together with its affiliates, as the administrative agent for the Lenders under this Agreement and the other Loan Documents, together with any of its successors. “Advisory Fees” has the meaning set forth in the definition of Consolidated EBITDA. “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. “Affiliate” means, as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. “Agents” means the collective reference to the Administrative Agent and any other agent identified on the cover page of this Agreement. “Agreement” has the meaning set forth in the preamble hereto. “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus ½ of 1% and (c) the Adjusted LIBO RateTerm SOFR for a one month Interest Period onas published two (2) U.S. Government Securities Business Days prior to such day (or if such day is not a U.S. Government Securities Business Day, the immediately preceding U.S. Government Securities Business Day) plus 1%; provided that for the purpose of this definition, the Adjusted LIBO RateTerm SOFR for any day shall be based on the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Rate)Term SOFR Reference Rate at approximately 11:00 a.m. London5:00 a.m. Chicago time on such day (or any amended publication time for the Term SOFR Reference Rate, as specified by the CME Term SOFR Administrator in the Term SOFR Refe...
Adjusted LIBO RateTerm SOFR means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest for the purposes of any calculation, the rate per annum equal to (a) the LIBO Rate in effect for such Interest Period divided by (b) one minus the Statutory Reserves applicable to such Eurocurrency Borrowing, if anyTerm SOFR for such calculation plus (b) the Term SOFR Adjustment; provided that if the Adjusted LIBO RateTerm SOFR as so determined shall ever be less than 1.00%, the Floor, then Adjusted LIBO RateTerm SOFR shall be deemed to be 1.00%the Floor.
Adjusted LIBO RateTerm SOFR means, with respect to any EurocurrencyTerm Benchmark Borrowing for any Interest Period or for any Borrowing of Base Rate Loans, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO RateTerm SOFR for such Interest Period multiplied by, plus (b) the Statutory Reserve RateTerm SOFR Adjustment provided that if the Adjusted Term 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.
Adjusted LIBO RateTerm SOFR means, with respect to any Eurodollar Borrowing for any Interest Period, the greater of (i)