Daily Simple SOFR Loan means each Loan bearing interest at a rate based upon Daily Simple SOFR.
Daily Simple SOFR Loan means a Revolving Loan made to the Borrowers described in Section 2.2(a) hereof, or a portion of the Term Loan described in Section 2.3 hereof, in each case on which the Borrowers shall pay interest at the Derived Daily Simple SOFR Rate.
Examples of Daily Simple SOFR Loan in a sentence
In the event the Borrower fails to specify in the applicable Funding Notice or Conversion/Continuation Notice whether any SOFR Loan shall be a Daily Simple SOFR Loan or a Term SOFR Loan, the Borrower shall be deemed to have selected a Borrowing of a Daily Simple SOFR Loan.
More Definitions of Daily Simple SOFR Loan
Daily Simple SOFR Loan means any Daily Simple SOFR Term Loan or Daily Simple SOFR Revolving Loan.
Daily Simple SOFR Loan means a Loan accruing Interest at Daily Simple SOFR.
Daily Simple SOFR Loan means each portion of the Advances bearing interest based upon Daily Simple SOFR.
Daily Simple SOFR Loan has the meaning given that term in Section 4.9.
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.
Daily Simple SOFR Loan means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Loan bearing interest at a rate based on Adjusted Daily Simple SOFR” for syndicated business loans; provided, that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. (other than pursuant to the Adjusted Daily Simple SOFR component of the definition of “Base Rate”).