Adjusted SMIR definition

Adjusted SMIR means, for any day during any Interest Period an interest rate per annum equal to (a) SMIR, plus (b) the SOFR Adjustment; provided that if Adjusted SMIR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of the Funding Agreement.
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Examples of Adjusted SMIR in a sentence

  • Until the Borrower gives the required notice to the Administrative Agent of another Interest Rate in accordance with Section 4.3, the initial Interest Rate for any Loan shall be (i) if such Loan is being funded by a Conduit Lender through the issuance of Notes, the applicable CP Rate (unless the Default Rate is then applicable) or (ii) otherwise (including if a Conduit Lender is then funding such Loan under a Program Support Agreement), Adjusted SMIR (unless the Default Rate is then applicable).

  • Prior to the occurrence of an Amortization Event, the outstanding principal amount of each Loan shall accrue Interest for each day during the related Interest Period at either (i) Adjusted SMIR or, (ii) the Alternate Base Rate or (iii) the CP Rate, as applicable, in accordance with the terms and conditions hereof.

  • The Borrower will pay Interest on Loans made pursuant to this Agreement at the CP Rate, Alternate Base Rate or Adjusted SMIR, selected or assigned in accordance with Article IV hereof.

Related to Adjusted SMIR

  • Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term 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.

  • Consolidated Adjusted Net Worth means, as of the date of any determination thereof the aggregate amount of the capital stock accounts (net of treasury stock, at cost) (a) plus (or minus in the case of a deficit) the surplus in retained earnings of the Company and its Subsidiaries as determined in accordance with GAAP, and (b) minus all Investments of the Company and its Subsidiaries other than Permitted Investments.