Examples of Adjusted Term SOFR Loan in a sentence
If the Borrower shall fail to specify in any such Notice of Borrowing (1) an applicable Interest Period in the case of a LIBOR Ratean Adjusted Term SOFR Loan, then such notice shall be deemed to be a request for an Interest Period of one (1) month, or (2) the Type of Revolving Loan requested, then such notice shall be deemed to be - 47- a request for an Alternate Base Rate Loan hereunder.
For purposes of clarification, Monthly Adjusted Term SOFR in effect for each month during which a Monthly Adjusted Term SOFR Loan is outstanding is the Monthly Adjusted Term SOFR determined to be effective as of the most recent Interest Rate Change Date.
If such Borrower fails to specify an Interest Period with respect to an Adjusted Term SOFR Loan or Canadian Term Rate Loans, it will be deemed to have specified an Interest Period of one month.
Each Revolving Loan that is made as a LIBOR Ratean Adjusted Term SOFR Loan shall be in a minimum aggregate amount of $500,000 and in integral multiples of $250,000 in excess thereof (or the remaining amount of the Revolving Committed Amount, if less).
Any prepayment of an Adjusted Term SOFR Loan or an Canadian Term Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05.
If the Borrower shall fail to select in a timely manner a new Interest Period for any Adjusted Term SOFR Loan in accordance with this Section, such Loan will automatically, on the last day of the current Interest Period therefor, be continued as provided in Section 2.9(b).
Any LIBOR RateAdjusted Term SOFR Loan or any portion thereof as to which the Borrower has not duly specified an Interest Period as provided herein shall be deemed a LIBOR Ratean Adjusted Term SOFR Loan with an Interest Period of one (1) month.
For purposes of a Borrowing of Adjusted Term SOFR Loans, or a continuation of a Adjusted Term SOFR Loan, the Borrower shall use the Borrowing Request attached hereto as Exhibit A or the Interest Election Request attached hereto as Exhibit B, respectively.
Each Loan described in (b) above shall, unless otherwise instructed by the Parent Borrower, at the end of the then current Interest Period for such Loans, automatically be converted to an Adjusted Term SOFR Loan with an Interest Period of 3 months.
Any Adjusted Term SOFR Loan or any portion thereof as to which the Borrower has not duly specified an Interest Period as provided herein shall be deemed an Adjusteda Term SOFR Loan with an Interest Period of one (1) month.