SOFR Early Opt-in means the Administrative Agent and the Borrower have elected to replace LIBOR pursuant to (1) an Early Opt-in Election and (2) Section 3.03(c)(i) and paragraph (1) of the definition of “Benchmark Replacement”.
SOFR Early Opt-in means the Agent and the Borrower have elected to replace LIBOR pursuant to (1) an Early Opt-in Election and (2) Section 3.03(c)(i) and paragraph (1) of the definition of “Benchmark Replacement”.
SOFR Early Opt-in has the meaning specified in Section 3.03(b).
Examples of SOFR Early Opt-in in a sentence
Upon the occurrence of a Benchmark Transition Event or a SOFR Early Opt-in, Section 3.03 provides the mechanism for determining an alternative rate of interest.
SOFR Early Opt-in: Agent and Xxxxxxxx have elected to replace LIBOR pursuant to (a) an Early Opt-in Election and (b) Section 3.6.2(a) and clause (a) of the definition of “Benchmark Replacement”.
More Definitions of SOFR Early Opt-in
SOFR Early Opt-in means the Administrative Agent and the Company have elected to replace LIBOR pursuant to (1) an Early Opt-in Election and
SOFR Early Opt-in means the Administrative Agent and the Lead Borrower have elected to replace LIBOR pursuant to (1) an Early Opt-in Election and (2) Section 3.05(b)(i) and paragraph (1) of the definition of “Benchmark Replacement”.” means the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York (or a successor administrator of the Secured Overnight Financing Rate).
SOFR Early Opt-in the Administrative Agent and the Parent have elected to replace LIBOR pursuant to (a) an Early Opt-in Election and (b) Section 2.16(b)(i) and paragraph (a) of the definition of “Benchmark Replacement”.
SOFR Early Opt-in means the Administrative Agent and the Borrower have elected to replace LIBOR pursuant to
SOFR Early Opt-in means, Agent and Borrower have elected to replace the LIBOR Rate pursuant to (a) an Early Opt-in Election and (b) Section 1.9.1 (a) and clause (a) of the definition of Benchmark Replacement. “Solvent” means, with respect to any Person as of any date of determination, that (a) at fair valuations, the sum of such Person’s debts (including contingent liabilities) is less than all of such Person’s assets, (b) such Person is not engaged or about to engage in a business or transaction for which the remaining assets of such Person are unreasonably small in relation to the business or transaction or for which the property remaining with such Person is an unreasonably small capital, and (c) such Person has not incurred and does not intend to incur, or reasonably believe that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise), and (d) such Person is “solvent” or not “insolvent”, as applicable within the meaning given those terms and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). “Specified Obligor” means a Loan Party that is not then an “eligible contract participant” under the Commodity Exchange Act. “Standard Letter of Credit Practice” means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.
SOFR Early Opt-in means the Administrative Agent and Borrower have elected to replace LIBOR pursuant to (a) an Early Opt-in Election, and (b) Section 2.11(c)(i) and clause (a) of the definition of “Benchmark Replacement.”
SOFR Early Opt-in shall have the meaning provided in Section 2.10(d)(vi).