Benchmark Loan definition

Benchmark Loan means any Advance which bears interest at or by reference to the Benchmark.

Benchmark Loan means any Loan that bears interest with reference to any Benchmark (or any Benchmark Replacement thereof);

Benchmark Loan. Any Revolving Loan which bears interest at the Benchmark, other than pursuant to clause (c) of the definition of Base Rate.

Examples of Benchmark Loan in a sentence

• If any payment on a Term Benchmark Loan becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.

• Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Term Benchmark Loan or RFR Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Loan or Letter of Credit is denominated in a Foreign Currency, such amount shall be the relevant Foreign Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Foreign Currency).

• Each Lender at its option may make any Term Benchmark Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

• The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each Term Benchmark Loan, shall be subject to indemnification by the Borrower pursuant to the provisions of Section 2.16 if the deemed payment occurs other than on the last day of the related Interest Periods.

• Each Term Benchmark Loan shall be denominated in an Agreed Foreign Currency (other than GBP) or Dollars.

More Definitions of Benchmark Loan

Benchmark Loan. Any Revolving Loan which bears interest at the Benchmark.

Benchmark Loan any Daily Simple SOFR Loan or Euribor Rate Loan.

Benchmark Loan means a Loan in the amount of $14,500,000 made by Lender to Borrower under this Agreement in order to consummate the Benchmark Acquisition.

Benchmark Loan. – means the portion of the Loan which is subject to a Calculated Rate. In the event Borrower is subject to a principal amortization schedule under the terms and conditions of the Loan Documents, the Benchmark Portion for any calendar month shall not include the amount of any principal prepayment required to be made during such calendar month pursuant to Section 2.12.

Benchmark Loan any Daily Simple SOFR Loan or Cumulative Compounded RFR Rate Loan.

Benchmark Loan means (a) any SOFR Loan, provided that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark Replacement thereof, then “Benchmark Loan” means any loan made with reference to the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 8.3; and (b) any XXXXX Loan, provided that if a Benchmark Transition Event has occurred with respect to the Term XXXXX Reference Rate or the then current Benchmark Replacement thereof, then “Benchmark Loan” means any loan made with reference to the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 8.3.

Benchmark Loan means (a) any SOFR Loan; provided that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark Replacement thereof, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 13.4; and (b) any CAD Benchmark Loan.