Benchmark Loan means any Advance which bears interest at or by reference to the Benchmark.
Benchmark Loan any Daily Simple SOFR Loan or Euribor Rate Loan.
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
In the case of a Term Benchmark Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender.
If no Interest Period is specified in any such notice with respect to any conversion to or continuation as a Term Benchmark Loan, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
More Definitions of Benchmark 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 means any Loan that bears interest with reference to any Benchmark (or any Benchmark Replacement thereof);
Benchmark Loan means any Advance that bears interest with reference to any Benchmark (or any Benchmark Replacement thereof). “Benchmark Replacement” means, with respect to any Benchmark Transition Event for any then-current Benchmark:
Benchmark Loan means any Advance that bears interest with reference to any Benchmark (or any Benchmark Replacement thereof).
Benchmark Loan means any Advance which bears interest at or by reference to the Benchmark. "Benchmark Replacement" means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below: (a) Daily Simple SOFR; or (b) if Daily Simple SOFR does not then exist or ceases to exist, then the Benchmark Replacement will be the sum of: (a) the alternate benchmark rate that has been selected by the Initial Lender and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then‐prevailing market convention for determining a rate of interest as a replacement to the then‐current Benchmark for U.S. dollar‐denominated credit facilities and (b) the Benchmark Replacement Adjustment (such rate, the “Agreed‐Upon Replacement”); or (c) if the Initial Lender and the Borrower, each acting reasonably, fail to agree on a replacement pursuant to the foregoing clause (b), the Base Rate; provided that, to the extent (1) Term SOFR, (2) Daily Simple SOFR or (3) the prior Agreed‐Upon Replacement, if any, becomes available again after being replaced in accordance with this definition (as determined by the Initial Lender), such benchmark shall then become the “Benchmark Replacement” (in order of the priority pursuant to clauses (1) through (3) of this proviso); and provided, further, that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement and the other Transaction Documents. "Benchmark Replacement Adjustment" means, with respect to any replacement of the then‐ current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by the Initial Lender and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (ii) any evolving or then‐prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread