Historic Term SOFR means, in relation to a Floating Rate Interest Period for a Loan (or the relevant part of it), the most recent applicable Term SOFR for a period equal in length to the Floating Rate Interest Period of that Loan (or the relevant part of it) and which is as of a day which is no more than 5 U.S. Government Securities Business Days before the Quotation Day.
Historic Term SOFR means, in relation to any Term SOFR Loan, the most recent applicable Term SOFR for a period equal in length to the Interest Period of that Term SOFR Loan and which is as of a day which is no more than three Additional Business Days before the Quotation Day.
Historic Term SOFR means, in relation to the Loan or any part of the Loan, the most recent applicable Term SOFR for a period equal in length to the Interest Period of the Loan or that part of the Loan and which is as of a day which is no more than three US Government Securities Business Days before the Quotation Day;
Examples of Historic Term SOFR in a sentence
If no Term SOFR is available for the Interest Period of a Loan or any part of a Loan and it is not possible to calculate the Interpolated Term SOFR, the applicable Reference Rate shall be the Historic Term SOFR for the Loan or that part of that Loan.
If paragraph (c) above applies but it is not possible to calculate the Interpolated Historic Term SOFR, there shall be no Reference Rate for a Loan or that part of a Loan (as applicable) and clause 10.3 (Cost of funds) shall apply to that Loan or that part of that Loan for that Interest Period.
If paragraph (b) above applies but no Historic Term SOFR is available for the Interest Period of a Loan or any part of a Loan, the applicable Reference Rate shall be the Interpolated Historic Term SOFR for a period equal in length to the Interest Period of the Loan or that part of that Loan.
More Definitions of Historic Term SOFR
Historic Term SOFR means, in relation to a Loan, the most recent applicable Term SOFR for a period equal in length to the Interest Period of that Loan and which is as of a day which is no more than five (5) US Government Securities Business Days before the Quotation Day.
Historic Term SOFR. If no Term SOFR is available for the Interest Period of a Term SOFR Loan and it is not possible to calculate the Interpolated Term SOFR, the applicable Term SOFR Reference Rate shall be the Historic Term SOFR for that Term SOFR Loan.
Historic Term SOFR means the most recent Term SOFR for a period equal in length to the Interest Period of that Loan and which is as of a US Government Securities Business Day which is no more than three US Government Securities Business Days before the Quotation Day. Holding Company of any other person, means a person in respect of which that other person is a Subsidiary.
Historic Term SOFR means, in relation to any Term Rate Loan, the most recent Term SOFR for a period equal in length to the Interest Period of that Loan and which is as of a US Government Securities Business Day which is no more than three US Government Securities Business Days before the Quotation Day.
Historic Term SOFR. If sub-paragraph (ii) applies but Historic Term SOFR is not available for that Hire Calculation Period, the applicable Reference Rate shall be Interpolated Historic Term SOFR for a period equal in length to that Hire Calculation Period. (c) If a Market Disruption Event occurs in relation to any Hire Calculation Period, then the Interest Rate for the relevant Hire Calculation Period shall be the rate per annum which is the sum of:- (i) the Margin; and (ii) the rate notified to the Bareboat Charterer by the Owner as soon as practicable and in any event before Variable Charter-Hire is due to be paid in respect of that Hire Calculation Period, to be that which expresses as a percentage rate per annum the cost to the Owner of funding the Charter-hire Principal from whatever comparable source it may select. In this Bareboat Charter, "Market Disruption Event" means an event where: (i) before close of business in Hong Kong on the Quotation Day for the relevant Hire Calculation Period, the cost to the Owner of funding the Charter-hire Principal from whatever source it may select, acting reasonably, would be in excess of Term SOFR; or (ii) clause 39.1(b)(iii) applies but it is not possible to calculate the Interpolated Historic Term SOFR for that Hire Calculation Period.” (c) Deleting the reference to “Appendix IV” in clause 50.5 of the Bareboat Charter and replacing it with “Appendix III”.
Historic Term SOFR means, in relation to any Drawing, the most recent applicable Term SOFR for a period equal in length to the Interest Period of that Drawing and which is as of a day which is no more than five days before the Quotation Day. "Holding Company" means, in relation to any entity, any other entity in respect of which it is a Subsidiary. "IAPPC" means a valid international air pollution prevention certificate for a Collateral Vessel issued under Annex VI. "Impaired Agent" means the Agent at any time when: (a) it has failed to make (or has notified a Party that it will not make) a payment required to be made by it under the Finance Documents by the due date for payment; (b) the Agent otherwise rescinds or repudiates a Finance Document; (c) (if the Agent is also a Lender) it is a Defaulting Lender under (a) or (b) of the definition of "Defaulting Lender"; or (d) an Insolvency Event has occurred and is continuing with respect to the Agent; unless, in the case of (a): (i) its failure to pay is caused by: (A) administrative or technical error; or (B) a Disruption Event; and payment is made within three (3) Business Days of its due date; or (ii) the Agent is disputing in good faith whether it is contractually obliged to make the payment in question. "Indebtedness" means the aggregate from time to time of: the amount of the Loan Outstanding; all accrued and unpaid interest on the Loan; and all other sums of any nature (together with all accrued and unpaid interest on any of those sums) which from time to time may be payable by the Security Parties or any of them to any of the Finance Parties under all or any of the Finance Documents. "Insolvency Event" in relation to an entity means that the entity: (a) is dissolved (other than pursuant to a consolidation, amalgamation or merger); (b) becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due and, in each case, as regards a Finance Party that Finance Party is under a public insolvency, bankruptcy or governmental proceeding or process that is not dismissed, discharged, stayed or restrained, in each case within thirty (30) days of the institution or presentation thereof;
Historic Term SOFR means, in relation to any Term SOFR Loan, the most recent applicable Term SOFR for a period equal in length to the Interest Period of that Term SOFR Loan and which is as of a day which is no more than five US Government Securities Business Days before the Quotation Day. "HMT" means His Majesty's Treasury. "Holding Company" means, in relation to a person, any other person in relation to which it is a Subsidiary. "IFRS" means international accounting standards within the meaning of the IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements. "Inventory of Hazardous Materials" means, in relation to a Ship, an inventory certificate or statement of compliance (as applicable) issued by the relevant classification society or shipyard authority which is supplemented by a list of any and all materials known to be potentially hazardous utilised in the construction of, or otherwise installed on, that Ship, pursuant to the requirements of the EU Ship Recycling Regulation. "Indemnified Person" has the meaning given to it in Clause 14.2 (Other indemnities). "Insolvency Event" in relation to an entity means that the entity: