Examples of Daily Simple SOFR Rate Loan in a sentence
Interest accrued on each Daily Simple SOFR Rate Loan (including any Swing Line Loan) shall be payable on the last day of its applicable Interest Period and on any date on which such Daily Simple SOFR Rate Loan is prepaid (or, in the case of a Swing Line Loan, repaid), whether by acceleration or otherwise (including due to Section 2.07(c)(ii) in the case of a Swing Line Loan), and on the Facility Termination Date.
Each Borrowing under the Term Loan I Facility shall be a Daily Simple SOFR Rate Loan and shall be in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, and the final Term Advance under the Term Loan I Facility shall be in the amount of the Available Term Loan I Commitments prior to giving effect to such Term Advance.
Subject to Section 2.10 and Section 2.19, each Term Advance made under the Term Loan I Facility shall be a Daily Simple SOFR Rate Loan.
Each Borrowing under the Term Loan II Facility shall be a Daily Simple SOFR Rate Loan and shall be in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, and the final Term Advance under the Term Loan II Facility shall be in the amount of the Available Term Loan II Commitments prior to giving effect to such Term Advance.
Subject to Section 2.10 and Section 2.19, each Term Advance made under the Term Loan II Facility shall be a Daily Simple SOFR Rate Loan.
The date of funding or conversion of a Term SOFR Rate Loan, Daily Simple SOFR Rate Loan or Quoted Rate Loan to a Base Rate Loan, and the first day of an Interest Period or Quoted Rate Period shall be included in the calculation of interest.
The Borrowing under the Term Loan III Facility shall be a Daily Simple SOFR Rate Loan and shall be in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof.
Upon a conversion from a Term SOFR Rate Loan or Quoted Rate Loan to a Daily Simple SOFR Rate Loan, interest at the Daily Simple SOFR Rate Option shall commence on the last day of the existing Interest Period or Quoted Rate Period, as applicable.
If the Borrower fails to give notice pursuant to Section 1.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of EurodollarDaily Simple SOFR Rate Loans before the Interest Payment Date therefor within the period required by Section 1.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a), the Borrower shall be deemed to have selected that such Borrowing shall automatically be continued as a Borrowing of a Daily Simple SOFR Rate Loan.
Subject to Section 2.10 and Section 2.19, each Term Advance made under the Term Loan III Facility shall be a Daily Simple SOFR Rate Loan.