Daily SOFR Option definition

Daily SOFR Option means the option of the Borrower to have Revolving Credit Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i).
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Daily SOFR Option means the option of the Borrower to have Swing Loans bear interest at the rate and under the terms specified in Section 4.1.2 [Swing Loan Interest Rate].
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Daily SOFR Option means the option of the Borrower to have portions of the advances bear interest at a rate based on Daily SOFR, if such Option is provided in the paragraph entitled “Interest Rate” above.
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Examples of Daily SOFR Option in a sentence

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the Term SOFR Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with Section 2.5, the Borrower shall be deemed to have converted such Borrowing Tranche to the Daily SOFR Option, as applicable to to Revolving Credit Loans commencing upon the last day of the existing Interest Period.

  • Interest on Loans to which the Daily SOFR Option applies shall be due and payable in arrears on each Payment Date.

  • Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at Daily SOFR Option and shall be deemed to have been properly requested in accordance with Section 2.5(a) without regard to any of the requirements of that provision.

  • Any Loan Request that fails to select an Interest Rate Option shall be deemed to be a request for the Daily SOFR Option.

  • These events are instances of the parent concept Event that defines their internal structure.Incremental and decrement events are mutually dual.

  • Subject to Section 4.3 [Interest After Default], only the Daily SOFR Option shall apply to the Swing Loans.

  • Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to the Revolving Credit Loans under the Daily SOFR Option.

  • Interest on Loans to which the Base Rate Option or Daily SOFR Option applies, interest shall be due and payable in arrears on each Payment Date.

  • Each Loan Request shall be irrevocable and shall specify the Interest Rate Option and the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and if applicable, the Interest Period, which amounts shall be in (x) integral multiples of $1,000,000 and not less than $1,000,000 for each Borrowing Tranche under the Term SOFR Rate Option, and (y) integral multiples of $1,000,000 and not less than $1,000,000 for each Borrowing Tranche under the Daily SOFR Option.

  • Interest on Loans to which the Base Rate Option or Daily SOFR Option applies shall be due and payable in arrears on each Payment Date.


More Definitions of Daily SOFR Option

Daily SOFR Option. A fluctuating rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to Daily SOFR Rate, such interest rate to change
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Related to Daily SOFR Option

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Option Share has the meaning ascribed to it in section "4.7" hereinbelow;

  • Stock Index Option means an exchange traded option entitling the holder, upon timely exercise, to receive an amount of cash determined by reference to the difference between the exercise price and the value of the index on the date of exercise.

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Company Option means an option to purchase shares of Company Common Stock granted under the Company Incentive Plan.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Call Option Date As defined in Section 10.01(a) hereof.

  • Option Date means, with respect to any Stock Option, the date on which the Stock Option is awarded under the Plan.

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Optionee.

  • Option means a stock option granted pursuant to the Plan.

  • Option Closing Purchase Price shall have the meaning ascribed to such term in Section 2.2(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

  • Company SAR means any stock appreciation right linked to the price of Company Common Stock and granted under any Company Stock Plan.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Director Option means an Option granted pursuant to Section 6.

  • Rollover Option has the meaning set forth in Section 2.4(a).