Benchmark Rate Loan definition

Benchmark Rate Loan means a Loan bearing interest based on the then existing Benchmark (initially, Adjusted Term SOFR).

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

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,

Examples of Benchmark Rate Loan in a sentence

• 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.

• 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.

More Definitions of Benchmark Rate Loan

Benchmark Rate Loan a Loan that bears interest based on clause (a)(i), (a)(ii) or (a)(iii) of the definition of Benchmark Rate.

Benchmark Rate Loan means any Loan that bears interest at a rate determined by reference to the then-applicable Benchmark Rate.