SOFR Credit Extension definition

SOFR Credit Extension means any Credit Extension bearing interest or incurring fees, commissions or other amounts based on the Term SOFR Rate plus the SOFR Adjustment, but excluding any Base Rate Credit Extension.
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SOFR Credit Extension means any Credit Extension bearing interest or incurring fees, commissions or other amounts based upon Daily Simple SOFR, but excluding, for the avoidance of doubt, any ABR Credit Extension.
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SOFR Credit Extension means any Credit Extension bearing interest or incurring fees, commissions or other amounts based upon Adjusted Term SOFR, but excluding, for the avoidance of doubt, any Alternate Rate Credit Extension.
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Examples of SOFR Credit Extension in a sentence

  • To the extent that the Existing Agreement or any other Existing Document categorizes Credit Extensions generally or by definition by type of benchmark rate that applies to such Credit Extensions, a SOFR Credit Extension shall constitute a type of Credit Extension, and any such definition shall be deemed to include SOFR Credit Extensions.

  • Any provision under the Existing Agreement or any other Existing Document that required, immediately prior to giving effect to the provisions of Article II of this Exhibit A, the Borrower to provide notice to the Administrative Agent of any borrowing, continuation, renewal, extension, reinstatement, increase, conversion or prepayment of any USD LIBOR Credit Extension shall be deemed, in each case, to require notice thereof with respect to a SOFR Credit Extension in lieu of such USD LIBOR Credit Extension.

  • Any provision under the Existing Agreement or any other Existing Document that required, immediately prior to giving effect to the provisions of Sections 1.01 and 1.02 of this Exhibit, the Borrower to provide notice to the Administrative Agent of a prepayment of any LIBOR Credit Extension shall be deemed, in each case, to refer to a SOFR Credit Extension in lieu of such LIBOR Credit Extension.

  • Any provision under the Existing Agreement or any other Existing Document that required, immediately prior to giving effect to the provisions of Article II of this Exhibit A, Borrower to provide a selection of an Interest Period with respect to any borrowing, continuation, renewal, extension, reinstatement, increase, conversion or prepayment of any USD LIBOR Credit Extension shall be, in each case, disregarded with respect to a SOFR Credit Extension solely to the extent of any such requirement.

  • Unless otherwise agreed by Borrower and Lender, any LIBOR Credit Extension that reaches the last day of the interest period with respect thereto on or after the Opt-In Date shall be converted to a SOFR Credit Extension on such date with a Term SOFR Interest Period equivalent to the expiring LIBOR interest period.

  • For the avoidance of doubt, with respect to any SOFR Credit Extension, any notice or terms applicable to such prepayment must be received by the Administrative Agent in accordance with the time periods and subject to the requirements (modified solely to apply Adjusted Term SOFR as the benchmark rate) set forth in the Existing Documents and applicable to LIBOR Credit Extensions.

  • Accrued interest on each SOFR Credit Extension shall be payable in arrears on each SOFR Interest Payment Date applicable thereto and at such other times as may be specified herein or in the Amended Agreement or any other Amended Document.

  • For the avoidance of doubt, with respect to any SOFR Credit Extension, any notice of any such conversion or continuation must be received by the Administrative Agent in accordance with the time periods and subject to the requirements (modified solely to apply Adjusted Term SOFR as the benchmark rate) set forth in the Existing Documents and applicable to LIBOR Credit Extensions.

  • Without limiting the applicability of any provision of the Amended Agreement or any other Amended Document with respect to default rates of interest or stepped-up or increased rates of interest, each SOFR Credit Extension shall bear interest at a rate per annum equal to the sum of (i) Adjusted Term SOFR for the SOFR Interest Period and (ii) the Applicable Margin.

  • All interest under the Amended Agreement and the Amended Documents on any SOFR Credit Extension shall be computed on a daily basis based upon the outstanding principal amount of such Credit Extension as of the applicable date of determination.


More Definitions of SOFR Credit Extension

SOFR Credit Extension means any Credit Extension bearing interest or incurring fees, commissions, or other amounts based on Term SOFR.
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Related to SOFR Credit Extension

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Request for Credit Extension means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

  • Credit Extension means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.14(f)(ii).

  • Credit Extension Date means the Borrowing Date for an Advance or the issuance date for a Facility LC.

  • Credit Extensions mean each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender (or a participation therein by a Lender) or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Additional Credit Extension Amendment means an amendment to this Agreement providing for any Incremental Commitments which shall be consistent with the applicable provisions of this Agreement relating to such Incremental Commitments and otherwise reasonably satisfactory to the Administrative Agent and the Borrower.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Total Extensions of Credit at any time, the aggregate amount of the Extensions of Credit of the Lenders outstanding at such time.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Request for Extension of Credit means, unless otherwise specified herein, with respect to a Borrowing, Conversion or Continuation of Loans, a written request substantially in the form of Exhibit B or such other form as may be approved by the Administrative Agent and the Borrower (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Revolving Loan Notice means a notice of (a) a Revolving Borrowing, (b) a conversion of Revolving Loans from one Type to the other, or (c) a continuation of Revolving Loans as the same Type, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A.

  • Revolving Credit Expiration Date means September 30, 2000.

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Extensions of Credit means, as to any Lender at any time, (a) an amount equal to the sum of (i) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding, (ii) such Lender’s Commitment Percentage of the L/C Obligations then outstanding and (iii) such Lender’s Commitment Percentage of the Swingline Loans then outstanding or (b) the making of any Loan or participation in any Swingline Loan or any Letter of Credit by such Lender, as the context requires.

  • Revolving Loan Notes means the promissory notes of the Borrower provided pursuant to Section 2.1(e) in favor of any of the Revolving Lenders evidencing the Revolving Loan provided by any such Revolving Lender pursuant to Section 2.1(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.