SOFR Advance definition

SOFR Advance means an Advance that bears interest at a rate based on Term SOFR.

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SOFR Advance means an Advance that bears interest as provided in Section 2.07(b).

SOFR Advance means a Term SOFR Advance and/or a Daily Simple SOFR Advance, as the context may require.

Examples of SOFR Advance in a sentence

• Any Facility C Advance outstanding as a SOFR Advance or a US Prime Rate Advance, other than US Prime Rate Advances by way of Sweep to Loan Arrangement, on the Seventh Amendment Date shall be deemed to be a SOFR Advance or a US Prime Rate Advance, as applicable, under the Facility A Credit.

• Any US Prime Rate Advance or SOFR Advance outstanding under the Facility D Credit on the Seventh Amendment Date shall be deemed to be a US Prime Rate Advance or SOFR Advance, as applicable, under the Facility A Credit.

• Principal, interest and interest on overdue amounts on the SOFR Loan, any SOFR Advance, the US Base Rate Loan and any amounts in respect of Letters of Credit denominated in USDollars payable by the Borrower shall be paid in USDollars and principal, interest and interest on overdue amounts on the Canadian Rate Loan, the Term C▇▇▇▇ Loan and the Daily Compounded C▇▇▇▇ Loan and any amounts payable in respect of Letters of Credit denominated in CDollars shall be paid in CDollars.

More Definitions of SOFR Advance

SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

SOFR Advance or “SOFR Loan” means an Advance or Loan which, except as otherwise provided in Section 2.11, bears interest based on Term SOFR. SOFR Advances and SOFR Loans shall be denominated in Dollars.

SOFR Advance means a Discretionary Draw Advance bearing interest at a rate determined by reference to SOFR Rate.

SOFR Advance means a Series 2022-1 Class A-1 Advance that bears interest at a rate of interest determined by reference to the Term SOFR Rate during such time as it bears interest at such rate, as provided in the Series 2022-1 Class A-1 Note Purchase Agreement.

SOFR Advance means (x) (i) any Advance made as a SOFR Advance in accordance with Section 2.02(b) and (ii) not converted into a Base Rate Advance in accordance with Section 2.02(c) and (y) any Advance converted from a Base Rate Advance to a SOFR Advance in accordance with Section 2.02(c). For the avoidance of doubt, the Borrower may convert (x) a SOFR Advance with a three-month maturity to a SOFR Advance with a one-month maturity and (y) a SOFR Advance with a one-month maturity to a SOFR Advance with a three-month maturity, in each case, subject to Breakage Fees if not converted at the end of the applicable Interest Period.

SOFR Advance means an Advance in US Dollars bearing interest based on the Adjusted Term SOFR.

SOFR Advance means (x) (i) any Advance made as a SOFR Advance in accordance with Section 2.02(b) and (ii) not converted into a Base Rate Advance in accordance with Section 2.02(c) and (y) any Advance converted from a Base Rate Advance to a SOFR Advance in accordance with Section 2.02(c).