SOFR Daily Floating Rate Loan means a Loan that bears interest at a rate based on the definition of SOFR Daily Floating Rate.
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...
SOFR Daily Floating Rate Loan. “Term SOFR Loan”, “Alternative Currency Daily Rate Loan” or “Alternative Currency Term Rate Loan”). ARTICLE II.
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).
More Definitions of SOFR Daily Floating Rate Loan
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
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).