Daily SOFR means the rate per annum equal to SOFR determined for any day pursuant to the definition thereof plus the SOFR Adjustment. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
Daily SOFR means Daily 1M SOFR.
Daily SOFR means, with respect to any U.S. government securities business day prior to a Benchmark Replacement Date:
Examples of Daily SOFR in a sentence
The applicable Base Rate, Daily SOFR Rate or Adjusted Term SOFR shall be determined by Agent, and such determination shall be conclusive absent clearly manifest error.
More Definitions of Daily SOFR
Daily SOFR means, with respect to any Indexed Accrual Period, the per annum rate that is posted on the Federal Reserve’s Website after 2:30 p.m., New York City time, on the Index Determination Date with respect to such Indexed Accrual Period as the Secured Overnight Financing Rate for the U.S. Government Securities Business Day immediately preceding such Index Determination Date.
Daily SOFR means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the Daily SOFR Administrator on the Daily SOFR Administrator’s Website at approximately 8:00 a.m. (New York City time), or in the case of an update to such rate by the Daily SOFR Administrator, at approximately 2:30 p.m. (New York City time), on the immediately succeeding Business Day.
Daily SOFR means the rate per annum equal to Daily Simple SOFR determined five (5) U.S. Government Securities Business Days prior to such day pursuant to the definition thereof plus the SOFR Adjustment. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
Daily SOFR means the rate per annum equal to SOFR published on the fifth (5th) U.S. Government Securities Business Day preceding such date by the SOFR Administrator on the Federal Reserve Bank of New York’s website (or any successor source) (provided, that, if such determination date is not a U.S. Government Securities Business Day, then Daily SOFR means such rate that applied on the first U.S. Government Securities Business Day immediately prior thereto) plus the SOFR Adjustment. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
Daily SOFR with respect to any applicable determination date means the secured overnight financing rate (“SOFR”) published on such date by the Federal Reserve Bank of New York, as the administrator of the benchmark (or a successor administrator) on the Federal Reserve Bank of New York’s website (or any successor source).
Daily SOFR. “XXXXX”, “EURIBOR”, “BBSY”, “XXXXX”, “Term XXXXX”, “BKBM” and “Interest Period”, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. Government Securities Business Day”, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods and the day basis for calculating interest for an agreed currency listed on Schedule 4.2) as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such applicable rate(s) and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice for such Agreed Currency (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such rate for such Agreed Currency exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).
Daily SOFR means, as of any specified date of determination, for any calculations with respect to a Daily SOFR Loan, the rate per annum equal to the Daily SOFR Reference Rate, determined as of the date that is five U.S. Government Securities Business Days prior to such specified date of determination (such prior date, a “Periodic Daily SOFR Determination Date”), as such rate is published by the SOFR Administrator on such Periodic Daily SOFR Determination Date; provided that, (a) if, as of 5:00 p.m. on any Periodic Daily SOFR Determination Date, (i) the Daily SOFR Reference Rate has not been published by the SOFR Administrator, and (ii) a Benchmark Replacement Date with respect to the Daily SOFR Reference Rate has not occurred, then “Daily SOFR” shall instead mean the Daily SOFR Reference Rate as published by the SOFR Administrator on the first preceding U.S. Government Securities Business Day for which the Daily SOFR Reference Rate was published by the SOFR Administrator, so long as such first preceding U.S. Government Securities Business Day is not more than three U.S. Government Securities Business Days prior to such Periodic Daily SOFR Determination Date, and (b) if, at any time, Daily SOFR (determined in accordance with the foregoing of this definition of “Daily SOFR”, including in accordance with the foregoing clause (a) of this proviso) is less than the Floor, then Daily SOFR shall be deemed to equal the Floor for all purposes of this Agreement and the other Loan Documents. Any change(s) in Daily SOFR due to any change(s) in the Daily SOFR Reference Rate shall be effective from, and including, the effective date of any such change(s) in the Daily SOFR Reference Rate, without further notice to the Company or Subsidiary, any other party to this Agreement or any other Loan Document, or any other Person.