Base Rate Capital definition
Examples of Base Rate Capital in a sentence
If any Purchaser (or its Purchaser Agent) notifies the Administrator of a determination under clause (f) above, the Seller shall, subject to the Seller’s indemnification obligations under Section 1.8, as to any affected Capital of the Purchaser to which Daily 1M SOFR or the Term SOFR Rate applies, on the date specified in such notice either convert such Capital to Base Rate Capital or prepay such Capital.
If at any time the Administrator makes a determination under clause (e) above, (x) if the Seller has delivered a Purchase Notice for an affected Purchase that has not yet been made, such Purchase Notice shall be deemed to request a Purchase funded with Base Rate Capital, (B) any outstanding affected Capital shall be deemed to have been converted into Base Rate Capital at the end of the applicable Yield Period.
Absent due notice from the Seller of conversion or prepayment, such Capital shall automatically be converted to Base Rate Capital upon such specified date.