Average SOFR Rate definition

Average SOFR Rate means, with respect to any Interest Period, the arithmetical mean (rounded to the nearest ten-thousandth of one percent, if other than a multiple of one ten-thousandth of one percent) of the Individual SOFR Rates for all calendar days in such Interest Period. (For example, if the arithmetical mean of the Individual SOFR Rates for all calendar days in an Interest Period is 0.12345%, the Average SOFR Rate for such Interest Period is 0.1235%.)
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Average SOFR Rate means, with respect to an Interest Period, the arithmetic mean of SOFR in effect during such Interest Period as calculated by the Agent or the Calculation Agent, as applicable, on the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest fifth decimal place, with 0.000005 being rounded upwards): where do, i, SOFR, SOFRi, ni and d have the meanings set out in Condition 3(b)(ii)(E) above. Notwithstanding anything to the contrary, if both a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the Average SOFR Rate (or any component part thereof), the benchmark replacement provisions set forth in Condition 3(b)(ix) (Benchmark Discontinuation – SOFR) below shall apply for the purposes of all determinations of the Rate of Interest in respect of the Notes. If the Notes become due and payable in accordance with Condition 8 (Events of Default), the final Rate of Interest shall be calculated for the period from (and including) the previous Interest Payment Date to (but excluding) the date on which the Notes become so due and payable, and such Rate of Interest shall continue to apply to the Notes for so long as interest continues to accrue thereon as provided in Condition 3(c) (Accrual of Interest).
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Average SOFR Rate means, as of the first day of each calendar month, the rate per annum determined by Lxxxxx as the compounded average of SOFR over a rolling calendar day period of thirty (30) days (“30-Day SOFR Average”) on such date as such rate is published on the SOFR Administrator’s Website. Notwithstanding the foregoing, in no event shall the Average SOFR Rate be deemed to be less than zero. Administrative Agent’s internal records regarding applicable interest rates shall be determinative in the 4875-5952-5200 v15 4875-5952-5200 v15 absence of manifest error.
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Examples of Average SOFR Rate in a sentence

  • Interest Rate On and after [ ]*, except as described below under “Payment of Tendered Index Floating Rate Bonds Purchased on Demand of Owner,” the Index Floating Rate Bonds will bear interest at a variable rate equal to the lesser of (i) the Average SOFR Rate (as defined below) plus [ ] percent ([ ]%) and(ii) [ ] percent ([ ]%).

  • Subject to the provisions hereof (including Section 2.02(b) and (d)), commencing on March 1, 2023 and continuing until each Loan is paid in full, each Loan shall bear interest at the Average SOFR Rate plus the Applicable Margin, payable in cash.

  • The Average SOFR Rate with respect to an Index Rate Term beginning on a particular Reset Date shall be determined on the Determination Date which immediately precedes such Reset Date and shall be the rate per annum (the “Average SOFR Rate”) equal to the greater of (a) zero percent (0%) or (b) the arithmetical mean of SOFR for each SOFR Reference Date with respect to such Reset Date.

  • Average SOFR Rate means, with respect to an Interest Period, the arithmetic mean of SOFR in effect during such Interest Period as calculated by the Agent or the Calculation Agent, as applicable, on the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest fifth decimal place, with 0.000005 being rounded upwards): where do, i, SOFR, SOFRi, ni and d have the meanings set out in Condition 3(b)(ii)(E) above.

  • She wanted to be dismissed and given notice and wanted a fair process to be followed.

  • Notwithstanding anything to the contrary, if both a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the Average SOFR Rate (or any component part thereof), the benchmark replacement provisions set forth in Condition 3(b)(ix) (Benchmark Discontinuation – SOFR) below shall apply for the purposes of all determinations of the Rate of Interest in respect of the Notes.


More Definitions of Average SOFR Rate

Average SOFR Rate means, with respect to an Interest Period, the arithmetic mean of SOFR in effect during such Interest Period as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Pricing Supplement) on the relevant SOFR Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest fifth decimal place, with 0.000005 being rounded upwards):
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Average SOFR Rate means, as of the first day of each calendar month, the rate per annum determined by Lender as the compounded average of SOFR over a rolling calendar day period of thirty (30) days (“30-Day SOFR Average”) on such date as such rate is published on the SOFR Administrator’s Website. Notwithstanding the foregoing, in no event shall the Average SOFR Rate be deemed to be less than zero. Administrative Agent’s internal records regarding applicable interest rates shall be determinative in the
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Related to Average SOFR Rate

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Loan (excluding Defaulted Loans) on an annualized basis, the Spread of such Loans (including commitment, letter of credit and all other fees), by the Outstanding Loan Balance of such Loans as of such date and dividing such sum by the aggregate Outstanding Loan Balance of all such Floating Rate Loans and rounding the result up to the nearest 0.01%; provided that the Spread of any Revolver Loan which is not fully funded shall be the sum of:

  • Weighted Average Coupon means, with respect to Fixed Rate Obligations (excluding Defaulted Loans), as of any date, the number obtained by:

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Weighted Average Price means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such other time as such market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as such market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest Closing Bid Price and the lowest closing ask price of any of the market makers for such security as reported in the OTC Link or “pink sheets” by OTC Markets Group Inc. (formerly Pink OTC Markets Inc.). If the Weighted Average Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved pursuant to Section 11 with the term “Weighted Average Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable calculation period.