SOFR Daily Floating Rate Loan definition

SOFR Daily Floating Rate Loan means a Loan that bears interest at a rate based on the definition of SOFR Daily Floating Rate.
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SOFR Daily Floating Rate Loan means a Loan that bears interest at a rate based on the definition of SOFR Daily Floating Rate. “SOFR Scheduled Unavailability Date” has the meaning specified in Section 3.03(c).
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SOFR Daily Floating Rate Loan means a Domestic Swing Line Loan that bears interest at a rate based on the definition of SOFR Daily Floating Rate. “SOFR Scheduled Unavailability Date” has the meaning specified in Section 3.03(b)(ii). “SOFR Successor Rate” has the meaning specified in Section 3.03(b). “Solvency Certificate” means a solvency certificate in substantially in the form of Exhibit L. “Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such date (a) the fair value of the assets of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not reasonably believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability discounted to present value at rates believed to be reasonable by such Person acting in good faith. “XXXXX” means, with respect to any applicable determination date, the Sterling Overnight Index Average Reference Rate published on the fifth Business Day preceding such date on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time); provided however that if such determination date is not a Business Day, XXXXX means such rate that applied on the first Business Day immediately prior thereto. “XXXXX Xxxxxxxxxx” means, with respect to XXXXX, 0.0326% per annum. “Special Notice Currency” means at any time an Alternative Currency, other than the currency of a country that is a member of the Organization for Economic Cooperation and Development at such t...
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Examples of SOFR Daily Floating Rate Loan in a sentence

  • All other computations of fees and interest, including those with respect to Term SOFR Loans, SOFR Daily Floating Rate Loan and Alternative Currency Loans determined by reference to EURIBOR, shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year).

  • During the existence of an Event of Default, unless the Swing Line Lender elects otherwise, a Swing Line Loan may be requested as a SOFR Daily Floating Rate Loan.

  • On each Interest Payment Date for a Base Rate Loan and a SOFR Daily Floating Rate Loan, interest accrued on such Loan to but excluding such Interest Payment Date shall be due and payable.

  • Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans or Term SOFR Daily Floating Rate Loan shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof.

  • Each Swing Line Loan shall be either a Base Rate Loan or a SOFR Daily Floating Rate Loan.

  • Revolving Loans may be Base Rate Loans, SOFR Daily Floating Rate Loans or Term SOFR Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as SOFR Daily Floating Rate Loan unless the Borrowers deliver a Funding Indemnity Letter not less than two (2) Business Days prior to the date of such Revolving Borrowing.

  • Until each Revolving A Lender funds its Term SOFR Daily Floating Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving A Lender’s Applicable Percentage of any Swingline Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swingline Lender.

  • Each Swing Line Loan shall be a Basedenominated in Dollars shall be a SOFR Daily Floating Rate Loan or, at the option of the Borrower, a Base Rate Loan.

  • Until each Revolving Lender funds its Term SOFR Daily Floating Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Lender’s Applicable Revolving Percentage of any Swingline Loan, interest in respect of such Applicable Revolving Percentage shall be solely for the account of the Swingline Lender.

  • Notwithstanding anything to the contrary herein, a Swingline Loan may not be converted to a SOFR Daily Floating Rate Loan or Term SOFR Loan.


More Definitions of SOFR Daily Floating Rate Loan

SOFR Daily Floating Rate Loan. “Term SOFR Loan”, “Alternative Currency Daily Rate Loan” or “Alternative Currency Term Rate Loan”).
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SOFR Daily Floating Rate Loan means a portion of the Term Loan that bears interest based on SOFR Daily Floating Rate. “Solvent” means, with respect to any person on a particular date, that on such date (a) the fair value of the property of such Person is
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Related to SOFR Daily Floating Rate Loan

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurodollar Rate Loan means a Loan that bears interest at a rate based on the Eurodollar Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate or the Default Rate.

  • Offshore Rate Loan means a Loan that bears interest based on the Offshore Rate.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.