SOFR Available Tenor definition

SOFR Available Tenor means, as of any date of determination and with respect to the then-current SOFR Benchmark, as applicable, (x) if such SOFR Benchmark is a term rate, any tenor for such SOFR Benchmark (or component thereof) or payment period for interest calculated with reference to such SOFR Benchmark (or component thereof), as applicable, that is or may be used for determining the length of an Interest Period for any term rate pursuant to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such SOFR Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such SOFR Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (e) of Section 3.02(II).
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SOFR Available Tenor means, as of any date of determination and with respect to the then-current SOFR Benchmark, as applicable, (x) if such SOFR Benchmark is a term rate, any tenor for such SOFR Benchmark (or component thereof) or payment period for interest calculated with reference to such SOFR Benchmark (or component thereof), as applicable, that is or may be used for determining the length of an Interest Period for any term rate pursuant to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such SOFR Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such SOFR Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (e) of Section 3.02(II). “SOFR Benchmark” means, initially, with respect to any Term Benchmark Loan, Term SOFR; provided that if a SOFR Benchmark Transition Event, and the related SOFR Benchmark Replacement Date have occurred with respect to the Daily Simple SOFR or Term SOFR, as applicable, or the then-current SOFR Benchmark, then “SOFR Benchmark” means the applicable SOFR Benchmark Replacement to the extent that such SOFR Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) of Section 3.02(II). “SOFR Benchmark Replacement” means, for any SOFR Available Tenor, the first alternative set forth in the order below that can be determined by the Revolving Facility Administrative Agent or Blackstone Representative, as applicable (after consultation with the Borrower) for the applicable SOFR Benchmark Replacement Date:
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Examples of SOFR Available Tenor in a sentence

  • During any Term SOFR Benchmark Unavailability Period or at any time that any tenor for the then-current Term SOFR Benchmark is not an Term SOFR Available Tenor, the component of Base Rate based upon the then-current Term SOFR Benchmark or such tenor for such Term SOFR Benchmark, as applicable, will not be used in any determination of Base Rate.

  • During any SOFR Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an SOFR Available Tenor, the component of the Base Rate based upon the then-current SOFR Benchmark or such tenor for such SOFR Benchmark, as applicable, will not be used in any determination of the Base Rate.

Related to SOFR Available Tenor

  • Available Tenor means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the then-current Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period or (y) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this Agreement as of such date.

  • Best available techniques means the most effective and advanced stage in the development of activities and their methods of operation which indicates the practical suitability of particular techniques for providing the basis for emission limit values and other permit conditions designed to prevent and, where that is not practicable, to reduce emissions and the impact on the environment as a whole:

  • Best available technology means those practices which most appropriately remove, treat, or isolate contaminants from groundwater, soil or associated environment, as determined through professional judgment considering actual equipment or techniques currently in use, published technical articles, site hydrogeology and research results, engineering and groundwater professional reference materials, consultation with experts in the field, capital and operating costs, and guidelines or rules of other regulatory agencies.

  • Other Available Shares means, as of any date, the sum of:

  • Incremental Available Transfer Capability Revenue Rights means the rights to revenues that are derived from incremental Available Transfer Capability created by the addition of Merchant Transmission Facilities or of one of more Customer-Funded Upgrades.