Daily SOFR Rate Loan definition

Daily SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR.
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Daily SOFR Rate Loan means a Loan that bears interest at a Daily SOFR Rate.
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Daily SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR. “Debt to Capitalization Ratio” means, as of any date, the ratio (stated as a percentage) of (a) Indebtedness of the Financial Covenant Consolidated Group less all Unrestricted Cash in excess of $25,000,000, to (b) Capitalization. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. “Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. “Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Term SOFR Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum. “Defaulting Lender” means, subject to Section 2.17(b), 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 Administrative Agent and 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, shall be specifically identified
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Examples of Daily SOFR Rate Loan in a sentence

  • For the avoidance of doubt, no amounts will be owing under this Section in connection with the prepayment of any Daily SOFR Rate Loan or Base Rate Loan (if any).

  • For the avoidance of doubt, no amounts will be owing under this Section 3.05 in connection with the prepayment of any Daily SOFR Rate Loan or Base Rate Loan (if any).

  • Upon receipt of such notice, (1) the Borrower may revoke any pending request for a borrowing of a Daily SOFR Rate Loan, or failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans of the amount specified therein, and (2) any outstanding Daily SOFR Rate Loans shall be deemed to have been converted to Base Rate Loans immediately.

  • Any prepayment of a Loan shall be accompanied by all accrued interest on the amount prepaid, together with, in the case of any Term SOFR Rate Loan or Daily SOFR Rate Loan, any additional amounts required pursuant to Section 3.05, if any.

  • On September 19, 2022, the Company provided notice of our election of the Daily SOFR Rate Loan provisions.On September 27, 2022, the Company entered into a floating-to-fixed interest rate swap with respect to the $350 million 2021 Term Loan through the maturity date of August 30, 2024.

  • If the Company fails to give a timely notice requesting a conversion or continuation of any such Eurocurrency Rate Loan, then the applicable Loan shall be made as, or converted to, a Daily SOFR Rate Loan at the end of the current Interest Period applicable to such Loan.

  • Where necessary, the traffic management automation will request review by a traffic management specialist.

  • On September 19, 2022, the Company provided notice of our election of the Daily SOFR Rate Loan provisions.

  • If Borrower fails to give a timely notice requesting a conversion or continuation of any such Eurodollar Rate Loan, then the applicable Loan shall be made as, or converted to, a Daily SOFR Rate Loan at the end of the current Interest Period applicable to such Loan.

  • For the avoidance of doubt, no amounts will be owing under this Section in connection with the prepayment of any Daily SOFR Rate Loan made by it at Eurocurrencyor Base Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded(if any).


More Definitions of Daily SOFR Rate Loan

Daily SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR. “Debt Rating” means, as of any date of determination, the rating as determined by S&P, Xxxxx’x and/or Fitch for the Borrower’s or the Parent’s non-credit-enhanced, senior unsecured long-term debt. “Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. “Default” means any event, act or condition that, with notice, the passage of time, or both, would constitute an Event of Default. “Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate for Base Rate Loans as set forth in the Pricing Level 5 of the definition of “Applicable Rate” plus (c) 2% per annum; provided, however, that with respect to a Term SOFR Rate Loan, the Default Rate shall be an interest rate equal to (x) the interest rate (assuming Pricing Level 5 in the definition of “Applicable Rate”) otherwise applicable to such Loan plus (y) 2% per annum, in each case to the fullest extent permitted by applicable Law. “Defaulting Lender” means, subject to Section 2.14(b), 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 the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuers 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 the Borrower, the Administrative Agent, the L/C Issuers 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 Xxxxxx’s
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Daily SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR. “Debt Rating” means the long-term unsecured senior, non-credit enhanced debt rating of Parent or Borrower by S&P, Moody’s or Fitch.
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Daily SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for thebenefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicablejurisdictions from time to time in effect.
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Daily SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Daily Simple SOFR. Debt of any Person means at any date, without duplication (and calculated in accordance with GAAP), (a) all obligations of such Person for borrowed money (whether as a direct obligation on a promissory note, bond, zero coupon bond, debenture, or other similar instrument, or as an unfulfilled reimbursement obligation on a drawn letter of credit or similar instrument, or otherwise), including, without duplication, all Capital Lease obligations (other than the interest component of such obligations) of such Person, (b) all obligations of such Person to pay the deferred purchase price of property or services, other than (i) obligations under employment contracts or deferred employee compensation plans and (ii) trade accounts payable and other expenses or payables arising in the ordinary course of business, (c) all Debt of others secured by a Lien on any asset of such Person (or for which the holder of the Debt has an existing Right, contingent or otherwise, to be so secured), whether or not such Debt is assumed by such Person, and (d) all guaranties and other contingent obligations (as a general partner or otherwise) of such Person with respect to Debt of others; provided, that repayment or reimbursement obligations of the Restricted Companies with respect to Permitted Recourse Obligations shall not be considered Debt unless and until an event or circumstance occurs that triggers such Restricted Company’s direct payment liability or reimbursement obligation (as opposed to contingent or performance obligations) to the lender or other party to whom such Permitted Recourse Obligation is actually owed, in which case the amount of such direct payment liability to such lender or other party shall constitute Debt; provided, that the satisfaction of performance obligations by any Restricted Company on behalf of any Unrestricted Subsidiary under a Completion Guaranty shall not constitute Debt.
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Related to Daily SOFR Rate Loan

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Eurodollar Rate Loan means a Loan that bears interest at a rate based on the Eurodollar Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Eurocurrency Rate Loan means a Loan that bears interest at a rate based on the Eurocurrency Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Offshore Rate Loan means a Loan that bears interest based on the Offshore Rate.

  • Alternative Currency Term Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • Alternative Currency Daily Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.