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, with respect to a SOFR Rate Advance for the relevant Interest Period, the sum of (a) the SOFR Rate applicable to such Interest Period, plus (b) the Unsecured to Secured Rate Adjustment.

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.

Examples of Adjusted SOFR Rate in a sentence

• 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.

• 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.

• 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.

• 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.

• 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.

More Definitions of Adjusted SOFR Rate

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.

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, 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 rate of interest per annum equal to the sum obtained by

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.

Adjusted SOFR Rate means Adjusted Daily Simple SOFR or Adjusted Term SOFR Rate, as the context may require. “Adjusted Term SOFR Rate” shall mean, 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. “Adjusted Total Revolving Credit Commitment” shall mean at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders. “Adjustment Date” shall mean the last day of each calendar month of March, June, September and December. “Administrative Agent” shall mean JPMorgan Chase Bank, N.A., as the administrative agent for the Lenders under this Agreement and the other Credit Documents, or any successor administrative agent pursuant to Section 12.9. “Administrative Agent’s Office” shall mean the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 13.2 or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders. “Administrative Questionnaire” shall have the meaning provided in Section 13.6(b)(ii)(D). “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. “Affiliate” shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other Person, whether through the ownership of voting securities, by contract or otherwise. “Affiliated Institutional Lender” shall mean (i) any Affiliate of the Sponsor that is either a bona fide debt fund or such Affiliate extends credit or buys loans in the ordinary course of business, (ii) KKR Corporate Lending LLC, KKR Capital Markets LLC, MCS Corporate Lending LLC and MCS Capital Markets LLC and (iii) any successor each of the Persons set forth in clause (ii). “Affiliated Lender” shall mean a Lender that is the Sponsor or any Affiliate thereof (other than Holdings, the Borrower, any Subsidiary of Holdings, or any Affiliated Institutional Lender). “Agent Parties” shall have the meaning provided in Section 13.17(c). “Agents” ...