SOFR-Based Rate definition

SOFR-Based Rate means SOFR or Term SOFR.
SOFR-Based Rate means SOFR, Compounded SOFR or Term SOFR.
SOFR-Based Rate means SOFR or TermSOFR Determination Date” has the meaning specified in the definition ofDaily Simple SOFR”.

Examples of SOFR-Based Rate in a sentence

  • In connection with the use or administration of any SOFR-Based Rate, Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

  • The Lenders, together with their respective Affiliates and other related entities, may engage in transactions that affect the calculation of any SOFR Reference Rate, any SOFR-Based Rate (for any Interest Period, as applicable), any alternative, successor or replacement rate of any of the foregoing (including, without limitation, any Benchmark Replacement), and/or any relevant adjustments to any of the foregoing, in each case, in a manner adverse to the Borrower.

  • An area surfaced for the purpose of storing one (1) parked automobile.

  • In connection with the use or administration of any SOFR-Based Rate, Lender will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

  • For clarity, the accrual of interest pursuant to the Revolver Note has been based on the Daily Simple SOFR-Based Rate since the Second Modification Effective Date, and the modification set forth in this Section 2.2 is retroactive to the Second Modification Effective Date.


More Definitions of SOFR-Based Rate

SOFR-Based Rate has the meaning specified in Section 3.03(b).
SOFR-Based Rate means SOFR, Compounded SOFR or Term SOFR. “SOFR Administrator” means the NYFRB (or a successor administrator of the secured overnight financing rate). “SOFR Administrator’s Website” means the NYFRB’s Website, currently at xxxx://xxx.xxxxxxxxxx.xxx, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time. “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:
SOFR-Based Rate means Daily Simple SOFR and the Term SOFR Reference Rate, as applicable.
SOFR-Based Rate means SOFR or Term SOFRSOFR Adjustment” means 0.10% (10.00 basis points) per annum.
SOFR-Based Rate means SOFR, Compounded SOFR or Term SOFR Administrator” means the NYFRB (or a successor administrator of the secured overnight financing rate).
SOFR-Based Rate means a rated based on SOFR, including Daily Simple SOFR or Term SOFR.
SOFR-Based Rate means, with respect to any Interest Period, the per annum interest rate which is equal to the sum of (i) the Applicable Margin plus (ii) the rate per annum equal to the secured overnight financing rate published by the Federal Reserve Bank of New York (or a successor administrator) on the administrator’s website (or any successor source for the secured overnight financing rate identified as such by the administrator) (the “SOFR Screen Rate”) at or about 8:00 a.m. (Detroit, Michigan time) (or as soon thereafter as practical) as determined for each Interest Period, two (2) Business Days prior to the beginning of such Interest Period with a term equal to the relevant Interest Period for such indebtedness, plus .10%; provided that, except for a determination by Bank pursuant to Section 10.2 or Section 10.3 herein, if such rate is not published on such determination date then the SOFR-based Rate will be based on the SOFR Screen Rate on the first Business Day immediately prior thereto; provided, further, and notwithstanding anything to the contrary set forth in this Agreement, if at any time the SOFR-based Rate would otherwise be less than .25% per annum, then the SOFR-based Rate shall be deemed to be .25% per annum for all purposes of this Agreement.