Interpolated Historic Term SOFR definition
Interpolated Historic Term SOFR means, in relation to the Loan or any part of the Loan, the rate (rounded to the same number of decimal places as Term SOFR) which results from interpolating on a linear basis between:
Interpolated Historic Term SOFR means, in relation to any Loan, the rate (rounded to the same number of decimal places as Term SOFR) which results from interpolating on a linear basis between:
Interpolated Historic Term SOFR means, in relation to a Vessel Loan or part thereof, the rate (rounded to the same number of decimal places as Term SOFR) which results from interpolating on a linear basis between:
(a) either:
(i) the most recent applicable Term SOFR (as of a day which is not more than five (5) US Government Securities Business Days before the Quotation Day) for the longest period (for which Term SOFR is available) which is less than the Interest Period of that Vessel Loan; or
(ii) if no such Term SOFR is available for a period which is less than the Interest Period of that Vessel Loan, SOFR for a day which is no more than five (5) and no less than two (2) US Government Securities Business Days before the Quotation Day; and
(b) the most recent applicable Term SOFR (as of a day which is not more than five (5) US Government Securities Business Days before the Quotation Day) for the shortest period (for which Term SOFR is available) which exceeds the Interest Period of the Loan.
Examples of Interpolated Historic Term SOFR in a sentence
If Clause 10.1.2 applies but no Historic Term SOFR is available for an Interest Period of a Tranche, the applicable Reference Rate shall be the Interpolated Historic Term SOFR for a period equal in length to that Interest Period.
More Definitions of Interpolated Historic Term SOFR
Interpolated Historic Term SOFR means, in relation to the Charter-hire Principal, the rate (rounded to the same number of decimal places as Term SOFR) which results from interpolating on a linear basis between: (a) either: (i) the most recent applicable Term SOFR (as of a day which is not more than three (3) US Government Securities Business Days before the Quotation Day) for the longest period (for which Term SOFR is available) which is less than three (3) months; or (ii) if no such Term SOFR is available for a period which is less than three (3) months, the most recent SOFR for a day which is not more than three (3) US Government Securities Business Days before the Quotation Day; and (b) the most recent applicable Term SOFR (as of a day which is not more than three (3) US Government Securities Business Days before the Quotation Day) for the shortest period (for which Term SOFR is available) which exceeds three (3) months.”
Interpolated Historic Term SOFR. If paragraph (b) above applies but Historic Term SOFR is not available for the Interest Period of the relevant Term SOFR Loan, the Term SOFR Reference Rate for such Interest Period shall be Interpolated Historic Term SOFR for a period equal in length to the Interest Period of that Term SOFR Loan.
Interpolated Historic Term SOFR means, in relation to any Facility B1 Loan or Facility B2 Loan, the rate (rounded to the same number of decimal places as the Term SOFR) which results from interpolating on a linear basis between:
Interpolated Historic Term SOFR means, in relation to any Drawing, the rate (rounded to the same number of decimal places as Term SOFR) which results from interpolating on a linear basis between: (a) either: (i) the most recent applicable Term SOFR (as of a day which is not more than five days before the Quotation Day) for the longest period (for which Term SOFR is available) which is less than the Interest Period of that Drawing; or (ii) if no such Term SOFR is available for a period which is less than the Interest Period of that Drawing, the most recent SOFR for a day which is no more than five days (and no less than two US Government Securities Business Days) before the Quotation Day; and (b) the most recent applicable Term SOFR (as of a day which is not more than five days before the Quotation Day) for the shortest period (for which Term SOFR is available) which exceeds the Interest Period of that Drawing. "Interpolated Term SOFR" means, in relation to any Drawing, the rate (rounded to the same number of decimal places as Term SOFR) which results from interpolating on a linear basis between: (a) either: (i) the applicable Term SOFR (as of the Quotation Day) for the longest period (for which Term SOFR is available) which is less than the Interest Period of that Drawing; or (ii) if no such Term SOFR is available for a period which is less than the Interest Period of that Loan, SOFR for the day which is two US Government Securities Business Days before the Quotation Day; and (b) the applicable Term SOFR (as of the Quotation Day) for the shortest period (for which Term SOFR is available) which exceeds the Interest Period of that Drawing. "ISDA Master Agreement" means the 2002 Master Agreement as published by the International Swaps and Derivatives Association, Inc. "ISM Code" means the International Management Code for the Safe Operation of Ships and for Pollution Prevention.