SOFR Bid Margin definition

SOFR Bid Margin means, (i) for SOFR Margin Bid Loans based upon the Term SOFR Rate, the margin above or below the Adjusted Term SOFR Rate to be added to or subtracted from the Adjusted Term SOFR Rate, which margin shall be expressed in multiples of 1/100th of one basis point and (ii) for SOFR Margin Bid Loans based upon Daily Simple SOFR, the margin above or below the Adjusted Daily Simple SOFR Rate to be added to or subtracted from the Adjusted Daily Simple SOFR Rate, which margin shall be expressed in multiples of 1/100th of one basis point.
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SOFR Bid Margin means the margin above or below the Term SOFR to be added to or subtracted from the Term SOFR, which margin shall be expressed in multiples of 1/100th of one basis point.
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SOFR Bid Margin has the meaning specified in Section 2.02(c)(2)(iii).
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Examples of SOFR Bid Margin in a sentence

  • Not later than 10:00 a.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, or (ii) three (3) Business Days prior to the requested date of any Bid Borrowing that is to consist of SOFR Bid Margin Loans, the Administrative Agent shall notify the Borrower of the identity of each Revolving Credit Lender that has submitted a Competitive Bid that complies with Section 2.03(c) and of the terms of the offers contained in each such Competitive Bid.

  • The Borrower may request the submission of Competitive Bids by delivering a Bid Request to the Administrative Agent not later than 11:00 a.m. (i) one (1) Business Day prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, or (ii) four (4) Business Days prior to the requested date of any Bid Borrowing that is to consist of SOFR Bid Margin Loans.

  • Each Bid Loan shall bear interest on the outstanding principal amount thereof for the Interest Period therefor at a rate per annum equal to the Term SOFR Rate for such Interest Period plus (or minus) the SOFR Bid Margin, or at the Absolute Rate for such Interest Period, as the case may be.

  • Not later than 10:30 a.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Loans, and (ii) three (3) Business Days prior to the requested date of any Bid Borrowing that is to consist of SOFR Bid Margin Loans, the Borrower shall notify the Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.03(d).

  • Competitive Bid Rate shall mean the rate of interest applicable to any Competitive Bid Loan, which shall be equal to the Adjusted Term SOFR Rate for the Interest Period applicable to such Competitive Bid Loan, plus or minus the applicable SOFR Bid Margin.


More Definitions of SOFR Bid Margin

SOFR Bid Margin means the margin above or below the Adjusted Term SOFR Rate for the applicable Interest Period to be added or subtracted from such Adjusted Term SOFR Rate, which margin shall be expressed in multiples of 1/100th of one percent.
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Related to SOFR Bid Margin

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Initial Margin means the amount of cash or securities deposited with a broker as a margin payment at the time of purchase or sale of a futures contract.