SOFR Applicable Margin definition

SOFR Applicable Margin means, as of any date with respect to any Daily Simple SOFR Loan or Term SOFR Loan, the applicable per annum amount then in effect pursuant to Section 2.3 hereof.
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SOFR Applicable Margin means, as of any date, the Applicable Margin used to determine the SOFR Rate as determined from time to time in accordance with the definition of “Applicable Margin”. LEGAL02/41239043v9
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SOFR Applicable Margin and (ii) in the paragraphs introducing each of the Leverage Based Pricing Schedule and Ratings Based Pricing Schedule, replace each reference to the phrase “Floating Rate or added to LIBOR Base Rate (as adjusted for any Reserve Requirement) to determine the LIBOR Rate” with “Floating Rate, or added to Adjusted Daily Simple SOFR to determine the Daily Simple SOFR Rate, or added to Adjusted Term SOFR to determine the Term SOFR Rate”. Except for the foregoing revisions to Exhibit G, none of the Schedules or Exhibits to the Credit Agreement shall be revised pursuant to this Agreement.
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Examples of SOFR Applicable Margin in a sentence

  • It is further understood and agreed that (i) the LIBORTerm SOFR Applicable Margin, the Adjusted Daily Simple SOFR Applicable Margin and the Base Rate Applicable Margin will never be reduced by more than 0.01% pursuant to the Sustainability Margin Adjustment during any calendar yeartwelve-month period and (ii) at no time shall any Applicable Margin be less than 0.0%.

  • Xxxx Title: Vice President Pricing Level Ratings1 Commitment Fee Rate SOFR Applicable Margin L/C Fee Base Rate Applicable Margin I AAA or Aaa 0.100% 0.300% 0.300% 0.300% II AA+ or Aa1 0.150% 0.500% 0.500% 0.500% III AA or Aa2 0.200% 0.550% 0.550% 0.550% IV AA- or Aa3 0.250% 0.650% 0.650% 0.650% V A+ or A1 0.300% 0.800% 0.800% 0.800% VI A or A2 0.350% 0.950% 0.950% 0.950% VII A- or A3 0.400% 1.125% 1.125% 1.125% 1 Senior unsecured long-term non-credit enhanced debt ratings from S&P and Xxxxx’x.

  • Notwithstanding the foregoing, at any time that either the Xxxxx’x Debt Rating is lower than A3 or the S&P Debt Rating is lower than A-, (a) the SOFR Applicable Margin, the L/C Fee and the Base Rate Applicable Margin shall be increased to one and one-half percent (1.50%), and (b) the Commitment Fee Rate shall be increased to one half of one percent (0.50%).

  • It is further understood and agreed that (i) the Term SOFR Applicable Margin, the Adjusted Daily Simple SOFR Applicable Margin and the Base Rate Applicable Margin will never be reduced by more than 0.01% pursuant to the Sustainability Margin Adjustment during any twelve-month period and (ii) at no time shall any Applicable Margin be less than 0.0%.

  • All Swingline Loans shall bear interest at the LIBOR Market Index RateAdjusted Daily Simple SOFR plus the Adjusted Daily Simple SOFR Applicable Margin and shall be deemed to be Adjusted Base RateDaily Simple SOFR Borrowings.


More Definitions of SOFR Applicable Margin

SOFR Applicable Margin means, as of any date, the Applicable Margin used to determine the Daily Simple SOFR Rate or Term SOFR Rate, as applicable, as determined from time to time in accordance with the definition of “Applicable Margin.” - 33 - US_ACTIVEActive\121281000\V-110 “SOFR Business Day” means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “SOFR Index Adjustment” means 0.10%. “SOFR Loan” means each Loan bearing interest at a rate based upon (a) Adjusted Term SOFR (other than pursuant to clause (iii) of the definition of “Alternate Base Rate”) or (b) Adjusted Daily Simple SOFR. “SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”. “Subsidiary” of a Person means (i) any corporation more than 50% of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any partnership, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries; provided, however, that, with respect to the Borrower, “Subsidiary” shall include all Persons which are required to be consolidated with the Borrower in accordance with GAAP. Unless otherwise expressly provided, all references herein to a “Subsidiary” shall mean a Subsidiary of the Borrower. “Subsidiary Guarantor” means, as of any date, each Subsidiary of the Borrower which is then a party to the Subsidiary Guaranty pursuant to Section 6.21. “Subsidiary Guarantors’ Release Date” means the date, if any, on which each Subsidiary Guarantor is released from the Subsidiary Guaranty pursuant to Section 6.21 or other unanimous Lender consent. “Subsidiary Guaranty” means the guaranty to be executed and delivered by those Subsidiaries of the Borrower which are required to be Subsidiary Guarantors as of the Agreement Effective Date, substantially in the form of Exhibit D attached to this Agreement, as the same may be amended, supplemented or otherwise modified f...
Sample 1
SOFR Applicable Margin and (ii) in the paragraphs introducing each of the Leverage Based Pricing Schedule and Ratings Based Pricing Schedule, replace each reference to the phrase “Floating Rate or added to LIBOR Base Rate to determine the LIBOR Rate” with “Floating Rate or added to Adjusted Term SOFR to determine the Term SOFR Rate”. Except for the foregoing revisions to Exhibit G, none of the Schedules or Exhibits to the Credit Agreement shall be revised pursuant to this Agreement.
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Related to SOFR Applicable Margin

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Applicable Margins means collectively the Applicable L/C Margin, the Applicable Unused Line Fee Margin, the Applicable Revolver Index Margin and the Applicable Revolver LIBOR Margin.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • ABR Margin as defined in subsection 2.21.

  • Applicable ABR Margin means, at any date:

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Applicable LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.835 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.940 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.045 % 1.045 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % 1.150 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Prime Rate Margin is one-half of one percent (0.50%).”

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • CD Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].

  • Note Margin With respect to each Mortgage Loan, the fixed percentage set forth in the related Mortgage Note and indicated in Exhibit One hereto as the "NOTE MARGIN," which percentage is added to the Index on each Adjustment Date to determine (subject to rounding in accordance with the related Mortgage Note, the Periodic Cap, the Maximum Mortgage Rate and the Minimum Mortgage Rate) the interest rate to be borne by such Mortgage Loan until the next Adjustment Date.