Secured Overnight Financing Rate definition

Secured Overnight Financing Rate means the daily secured overnight financing rate as provided by the New York Federal Reserve on the New York Federal Reserve’s Website.

Secured Overnight Financing Rate or “SOFR” means, with respect to any U.S. Government Securities Business Day:

Secured Overnight Financing Rate. The secured overnight financing rate published by the FRBNY on the FRBNY’s Website.

Examples of Secured Overnight Financing Rate in a sentence

• The Credit Facility can be drawn in Canadian or U.S. dollars and bears interest payable monthly, based on Banker's Acceptance and Prime rates for Canadian dollar loans and based on the Secured Overnight Financing Rate ("SOFR") for U.S. dollar loans.

• For example, the Secured Overnight Financing Rate is a secured overnight rate, while USD LIBOR is an unsecured rate that represents interbank funding over different maturities.

• However, because the Secured Overnight Financing Rate is a broad U.S. Treasury repo financing rate that represents overnight secured funding transactions, it differs fundamentally from the London Interbank Offered Rate.

• Interest payments made in cash are based on an interest rate of the Secured Overnight Financing Rate ("SOFR") for a tenor comparable to the relevant interest payment period plus 0.42826% (the “Floating Rate”) plus 5% per annum if interest is paid in cash and plus 6% per annum if interest is paid in PIK.

• REFERENCE NOTES Variable Interest RateThis loan has a variable Interest Rate that is based on a publicly available index, the Secured Overnight Financing Rate (SOFR).

More Definitions of Secured Overnight Financing Rate

Secured Overnight Financing Rate means the Reference Rate provided by the FRBNY, as the administrator of such Reference Rate (or a successor administrator) on the FRBNY’s Website.

Secured Overnight Financing Rate means the Secured Overnight Financing Rate (SOFR) published each Business Day by the Federal Reserve Bank of New York.

Secured Overnight Financing Rate means the Reference Rate provided by the Federal Reserve Bank of New York, as the administrator of such Reference Rate (or a successor administrator) on the Federal Reserve Bank of New York’s Website.

Secured Overnight Financing Rate or “SOFR” means the daily secured overnight financing rate as provided by the New York Federal Reserve on the New York Federal Reserve’s Website.

Secured Overnight Financing Rate or "SOFR" means:

Secured Overnight Financing Rate means a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator.

Secured Overnight Financing Rate means the daily secured overnight financing rate as provided by the New York Federal Reserve on the New York Federal Reserve’s Website.The following procedure will be followed if Compounded SOFR cannot be determined as described above:If the Company or its designee determine on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to this Security in respect of all determinations on such date and for all determinations on all subsequent dates.In connection with the implementation of a Benchmark Replacement, the Company or its designee will have the right to make Benchmark Replacement Conforming Changes from time to time.Any determination, decision or election that may be made by the Company or its designee, including a determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection: