Daily Simple SOFR Loan means each Loan bearing interest at a rate based upon Daily Simple SOFR.
Daily Simple SOFR Loan means a Daily Simple SOFR Committed Loan or a Revolving Swing Line Loan, a New Vehicle Floorplan Swing Line Loan or a Used Vehicle Floorplan Swing Line Loan that, in each case, bears interest at a rate based on Daily Simple SOFR.
Examples of Daily Simple SOFR Loan in a sentence
Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Revolving Loan will be a Base Rate Loan, a Daily Simple SOFR Loan or a Term SOFR Loan) request that the Administrative Agent provide the Borrower with the most recent Base Rate, Adjusted Daily Simple SOFR or Adjusted Term SOFR available to the Administrative Agent.
Any prepayment of (x) a Eurocurrency Rate Loan, Term SOFR Loan, XXXXX Rate Loan or Daily Simple SOFR Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05 and (y) Term B-1 Loans hereunder shall be subject to Section 2.05(c).
More Definitions of Daily Simple SOFR Loan
Daily Simple SOFR Loan means any Loan bearing interest at a rate based on Adjusted Daily Simple SOFR.
Daily Simple SOFR Loan means each portion of the Revolving Loans that bears interest at a rate determined by reference to Adjusted Daily Simple SOFR. "Default" means an event, condition, or default that, with the giving of notice, the passage of time, or both, would be an Event of Default. "Default Right" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. "Defaulting Lender" means any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies Agent and Administrative Borrower in writing that such failure is the result of such Xxxxxx's determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable Default or Event of Default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to Agent, Issuing Bank, or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two Business Days of the date when due, (b) has notified any Borrower, Agent or Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender's obligation to fund a Loan hereunder and states that such position is based on such Xxxxxx's determination that a condition precedent to funding (which condition precedent, together with any applicable Default or Event of Default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by Agent or Administrative Borrower, to confirm in writing to Agent and Administrative Borrower that it will comply with its prospective funding obligations hereunder (provided, that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by Agent and Administrative Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of any Insolvency Proceeding, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, includin...
Daily Simple SOFR Loan means a Revolving Credit Loan that bears interest based on Daily Simple SOFR.
Daily Simple SOFR Loan means any Loan bearing interest based upon Daily Simple SOFR.
Daily Simple SOFR Loan means a Loan that bears interest as provided in Section 2.04(a)(iii).
Daily Simple SOFR Loan means any Daily Simple SOFR Term Loan or Daily Simple SOFR Revolving Loan.