Adjusted Term SOFR Screen Rate definition
Adjusted Term SOFR Screen Rate means, with respect to any Term SOFR Advance for any Interest Period, an interest rate per annum equal to the greater of (a) zero and (b) the sum of (i) the Term SOFR Screen Rate for such Interest Period, plus (ii) the SOFR Adjustment.
Adjusted Term SOFR Screen Rate means, with respect to any Term SOFR Borrowing for any Interest Period, an interest rate per annum equal to the greater of (a) zero and (b) the sum of (i) the Term SOFR Screen Rate for such Interest Period, plus (ii) the SOFR Adjustment.
Adjusted Term SOFR Screen Rate means, with respect to any Term SOFR Advance or Term SOFR Loan, in each case for any Interest Period, an interest rate per annum equal to the greater of (a) zero and (b) the sum of (i) the Term SOFR Screen Rate for such Interest Period, plus (ii) the SOFR Adjustment. “▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇” means, with respect to any Advance denominated in Yen for any Interest Period, an interest rate per annum equal to (a) the TIBOR Screen Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the Adjusted ▇▇▇▇▇ ▇▇▇▇ 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. “Advance” means a borrowing hereunder, (i) made by some or all of the Banks on the same date on which Loans are made hereunder, or (ii) converted or continued by the Banks on the same date of conversion or continuation, consisting, in either case, of the aggregate amount of the several Loans of the same Type and currency and, in the case of Term SOFR Loans, EURIBOR Loans, ▇▇▇▇▇ ▇▇▇▇▇, and any applicable Other Interest Rate Loans (but excluding RFR Loans), for the same Interest Period, made by each of the Banks pursuant to Section 2.1. The term “Advance” shall include Swing Line Loans unless otherwise expressly provided. “Adverse Event” means the occurrence of any event that could have a material adverse effect on the business, operations, property, assets, liabilities (actual or contingent) or condition (financial or otherwise) of the Company and the Subsidiaries as a consolidated enterprise or on the ability of the Company or any Subsidiary obligated thereunder to perform its obligations under the Loan Documents.
Examples of Adjusted Term SOFR Screen Rate in a sentence
The interest rate on SOFR Committed Loans is determined by reference to the Adjusted Term SOFR Screen Rate and the Adjusted Daily Simple SOFR Rate, which are derived from the Term SOFR Reference Rate and Daily Simple SOFR, respectively.
Section 3.5.2 provides a mechanism for (a) determining an alternative rate of interest if the Adjusted Term SOFR Screen Rate or the Adjusted Daily Simple SOFR Rate is no longer available or in the other circumstances set forth in Section 3.5.2, and (b) modifying this Agreement to give effect to such alternative rate of interest.
Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Alternate Base Rate, the Term SOFR Reference Rate, the Term SOFR Screen Rate, the Adjusted Term SOFR Screen Rate, SOFR, Daily Simple SOFR, the Adjusted Daily Simple SOFR Rate, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to Borrower.
More Definitions of Adjusted Term SOFR Screen Rate
Adjusted Term SOFR Screen Rate means, with respect to any Term SOFR Loan for any Interest Period, an interest rate per annum equal to the greater of (a) zero and (b) the sum of (i) the Term SOFR Screen Rate for such Interest Period, plus (ii) the SOFR Adjustment. “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. “Affected Lender” is defined in Section 2.13. “Affiliate” of any Person means any other Person directly or indirectly controlling, controlled by or under common control with such Person. “Agent” means U.S. Bank National Association, in its capacity as administrative agent for and contractual representative of the Lenders pursuant to Article X, and not in its individual capacity as a Lender, and any successor Agent appointed pursuant to Article X. “Aggregate Commitment” means the aggregate of the Term Loan Commitments of all the Lenders, as changed from time to time pursuant to the terms hereof. The Aggregate Commitment as of the date of this Agreement is THREE HUNDRED MILLION DOLLARS ($300,000,000). “Aggregate Outstanding Credit Exposure” means, at any time, the aggregate of the Outstanding Credit Exposure of all the Lenders. “Agreement” means this Credit Agreement, as amended or otherwise modified from time to time. “Agreement Accounting Principles” means United States generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.11. “Alternate Base Rate” means, for any day, a rate of interest per annum equal to the highest of (a) zero, (b) the Prime Rate for such day, (c) the sum of the Federal Funds Effective Rate for such day plus 0.50% per annum and (d) the Adjusted Term SOFR Screen Rate (without giving effect to the Applicable Margin) for a one-month Interest Period on such day (or if such day is not a Business Day or if the Term SOFR Screen Rate for such Business Day is not published due to a holiday or other circumstance that the Agent deems in its sole discretion to be temporary, the