Adjusted SOFR Rate definition

Adjusted SOFR Rate means for any SOFR Borrowing for any Interest Period, an interest rate per annum that is equal to the sum of the SOFR Rate for such Interest Period plus the Applicable Margin.

Adjusted SOFR Rate means, for any Tranche Period, an interest rate per annum equal to the sum of the applicable SOFR Rate and the SOFR Adjustment for such Tranche Period.

Adjusted SOFR Rate means, for any Floating Interest Period, the rate per annum equal to the Benchmark for such Floating Interest Period plus the Margin.

Examples of Adjusted SOFR Rate in a sentence

• Each Loan Request shall (A) specify: (i) the aggregate amount to be borrowed, (ii) the requested Borrowing Date, and (iii) whether the borrowing is to be an Adjusted SOFR Rate Borrowing, an Adjusted Base Rate Borrowing, or a combination thereof and (B) be accompanied by a Borrowing Base Certificate as required by Section 5.09.14.

• Interest shall accrue from and including the first day of each Interest Period selected by the Borrower Representative to (but not including) the last day of such Interest Period at the Adjusted SOFR Rate determined as applicable to such Interest Period upon the amount of the unpaid principal balances of the Revolving Credit Loans.

• Revolving Credit Loans may consist of Adjusted Base Rate Borrowings or a SOFR Borrowing at the Adjusted SOFR Rate, or a combination thereof, as the Borrowers may request in accordance with the terms hereof.

• 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.

• Absent a timely election by the Borrower Representative of a SOFR Borrowing in accordance with Section 2.07.2 of this Agreement, the unpaid balances of the Floor Plan Loans (including M&T Advances) and Revolving Credit Loans, including any balances of any Adjusted SOFR Rate Borrowings for which the applicable Interest Period has expired without an effective continuation, shall be deemed automatically to bear interest at the Adjusted Base Rate.

More Definitions of Adjusted SOFR Rate

Adjusted SOFR Rate means the per annum rate equal to the sum of SOFR Rate plus 0.10% (10 basis points). If Adjusted SOFR Rate as so determined would be less than 0.00%, the Adjusted SOFR Rate will be deemed to be 0.00% for the purposes of this Facility Letter.

Adjusted SOFR Rate means, with respect to a SOFR Rate advance for the relevant Interest Period, the sum of (a) the Applicable Margin, plus (b) the SOFR Rate applicable to such Interest Period, and plus (c) the Unsecured to Secured Rate Adjustment.

Adjusted SOFR Rate means the rate of interest per annum equal to the sum obtained,

Adjusted SOFR Rate means, for any Floating Interest Period, the rate per annum equal to Benchmark for such Floating Interest Period plus the Margin.

Adjusted SOFR Rate means the variable annual interest rate calculated for each Interest Period equal to the sum obtained by adding (i) the Index for said Interest Period (truncated at the 5th decimal place if necessary) plus (ii) the margin provided for in the Note. For the avoidance of doubt, the term "margin" shall mean the difference between the Rate (as defined in the Note) minus the Index (as defined in the Note).

Adjusted SOFR Rate means the variable annual interest rate calculated for each Interest Period equal to (a) 79% multiplied by (b) the sum of (i) the SOFR Rate plus (ii) the Applicable Spread.

Adjusted SOFR Rate means the variable annual interest rate equal to 79% of the sum obtained by adding (i) Daily Simple SOFR and (ii) the Margin.