RFR Loans definition

RFR Loans or “ABR Loans”, as the case may be, based upon the (public or private) corporate rating assigned to the Public Company by S&P or Fitch (whichever is higher), as in effect on such date: Rating Term Benchmark Loans / RFR Loans ABR Loans ≥ AA- 0.625% 0.000% A+ 0.750% 0.000% A 0.875% 0.000% A- 1.000% 0.000% BBB+ or lower (or unrated) 1.250% 0.250% and (ii) with respect to any Other Revolving Loan, the “Applicable Margin” set forth in the Incremental Assumption Agreement relating thereto. If the corporate rating established by S&P or Fitch for the Public Company shall be changed (other than as a result of a change in S&P’s or Fitch’s rating system), such change shall be effective as of the date on which it is first announced by S&P or Fitch, irrespective of when notice of such change shall have been furnished to the Administrative Agent and the Lenders. Each change in the Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If S&P’s or Fitch’s rating system shall change, or if S&P or Fitch shall cease to be in the business of rating corporate obligors, the Borrower and the Required Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from S&P or Fitch.
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Examples of RFR Loans in a sentence

  • Subject to Section 2.13, (i) each Borrowing of a Class shall be constituted entirely of ABR Loans, of RFR Loans or of Term Benchmark Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith.

  • Except as provided in Section 4.7(c), if a Borrower prepays a Loan but fails to specify the applicable Borrowing which such Borrower is prepaying, the prepayment shall be applied first to Loans to which the Base Rate Option applies, then to other Loans denominated in Dollars, then to Daily Simple RFR Loans denominated in an Alternative Currency, then to Eurocurrency Rate Loans.

  • Each Borrowing denominated in an Agreed Foreign Currency shall be constituted entirely of RFR Loans or Eurocurrency Loans.

  • Each ABR Loan shall be denominated in Dollars and (ii) each Pro-Rata Borrowing shall be constituted entirely of ABR Loans, Term Benchmark Loans or of RFR Loans denominated in Dollars.

  • Subject to Section 2.13, each Syndicated Borrowing of a Class shall be constituted entirely of ABR Loans, Term Benchmark Loans or RFR Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith.

  • Subject to Section 2.13, (i) each Borrowing of a Class shall be constituted entirely of ABR Loans, of Term Benchmark Loans, of RFR Loans or of Eurocurrency Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith.

  • Subject to Section 2.11, each Borrowing of a Class shall be constituted entirely of ABR Loans, of SOFR Loans, of RFR Loans or of Eurocurrency Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith.

  • The Borrower shall pay to the Agent, for the ratable benefit of the Lenders, accrued interest on all RFR Loans and Term Benchmark Loans in arrears on each applicable SOFR Interest Payment Date.

  • If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing.

  • Subject to Section 2.13, each Syndicated Borrowing of a Class shall be constituted entirely of ABR Loans, RFR Loans or Term Benchmark Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith.

Related to RFR Loans

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • Revolving Loans as defined in Section 2.4(a).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01) or any combination of the foregoing.

  • Revolving Facility Loans shall include the Other Revolving Loans.