Benchmark Rate Loan definition

Benchmark Rate Loan means a Loan bearing interest based on the then existing Benchmark (initially, Adjusted Term SOFR).
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Benchmark Rate Loan means a Loan that bears interest at a rate based on the Benchmark Rate.
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Benchmark Rate Loan means the Loan at all such times as interest thereon accrues at a rate of interest based upon the Benchmark pursuant to Section 2.5 hereof. “Benchmark Replacement” shall mean, with respect to any Benchmark Transition Event, a variable rate or index selected by Lender (which may be, at Lender’s option, without limitation, “Daily Simple SOFR,” “Daily Compounded SOFR,” or “30-Day SOFR Average”). “Benchmark Replacement Adjustment” shall mean, with respect to any Benchmark Replacement and its related Determination Date(s), a spread adjustment (which may be a positive or negative value, or zero) that has been selected by Lender, giving due consideration to (i) any selection or recommendation of a spread adjustment (including, without limitation, a “benchmark replacement spread adjustment”) or method for calculating or determining the same, by the Relevant Governmental Body for the applicable Benchmark Replacement and its related Determination Date(s), (ii) any evolving or then-prevailing market convention for determining a spread adjustment (including, without limitation, a “benchmark replacement spread adjustment”) or method for calculating or determining the same, for the applicable Benchmark Replacement and its related Determination Date(s) in U.S. dollar-denominated syndicated or bilateral commercial real estate credit facilities, and/or (iii) the spread adjustment (including, without limitation, a “benchmark replacement spread adjustment”) or method for calculating or determining the same, then being utilized by Lender or its Affiliates with respect to variable rate commercial real estate loans for the applicable Benchmark Replacement and its related Determination Date(s). “Benchmark Replacement Conforming Changes” shall mean, with respect to any Benchmark Transition Event, any technical, administrative or operational changes (including changes to the definitions of “Business Day,” “Interest Period,” “Monthly Payment Date” and “Determination Date,” the timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, the applicability of adjustments to the interest rate due to the effect of reserve requirements, preceding and succeeding business day conventions and other technical, administrative or operational matters) that Xxxxxx decides may be appropriate to reflect the adopti...
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Examples of Benchmark Rate Loan in a sentence

  • Until each Revolving Credit Lender funds its Base Rate Loan, Benchmark Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Pro Rata Share of any Swing Line Loan, interest in respect of such Pro Rata Share shall be solely for the account of the Swing Line Lender.

  • Any prepayment of a Benchmark Rate Loan shall be accompanied by all accrued interest thereon to such date, together with any additional amounts required pursuant to Section 3.05.

  • For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Benchmark Rate Loan made by it at the Benchmark Rate for such Loan by a matching deposit or other borrowing in the offshore interbank market for the applicable currency for a comparable amount and for a comparable period if applicable, whether or not such Benchmark Rate Loan was in fact so funded.

  • If the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made or continued as the same Type of Loan, which if a Term Benchmark Rate Loan, shall have a one-month Interest Period.

  • All prepayments under this Section 2.05 shall be made together with, in the case of any such prepayment of a Benchmark Rate Loan denominated in a Term Benchmark Currency on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Benchmark Rate Loan pursuant to Section 3.05.

  • Any prepayment of a Term Benchmark Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05 and Section 2.18.

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to convert a Benchmark Rate Loan to a Prime Rate Loan, or vice versa.

  • After giving effect to any Loan, Advance, continuation, or conversion of any Term Benchmark Rate Loan, there may not be more than fourteen (14) different Interest Periods in effect hereunder.

  • All prepayments under this Section 2.05 shall be made together with, in the case of any such prepayment of a Benchmark Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Benchmark Rate Loan pursuant to Section 3.05.

  • Notwithstanding the foregoing, no Lender may make any demand under this Section 3.05 (i) with respect to the “floor” applicable to a Benchmark Rate Loan or (ii) in connection with any prepayment of interest on Term Loans.


More Definitions of Benchmark Rate Loan

Benchmark Rate Loan means a Term Rate Loan or a Daily Simple RFR Loan, as the context may require.
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Benchmark Rate Loan a Loan that bears interest based on clause (a)(i), (a)(ii) or (a)(iii) of the definition of Benchmark Rate.
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Benchmark Rate Loan means any Loan that bears interest at a rate determined by reference to the then-applicable Benchmark Rate.
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Related to Benchmark Rate Loan

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Eurocurrency Rate Loan means a Loan that bears interest at a rate based on the Eurocurrency Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • Eurodollar Rate Loan means a Loan that bears interest at a rate based on the Eurodollar Rate.

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Offshore Rate Loan means a Loan that bears interest based on the Offshore Rate.

  • Canadian Prime Rate Loan means a Tranche B Loan denominated in Canadian Dollars that bears interest based on the Canadian Prime Rate.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.