SOFR Early Opt-in definition
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 (2) Section 3.03(b)(i) and paragraph (1) of the definition of “Benchmark Replacement”.
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 Administrative Agent and ▇▇▇▇▇▇▇▇ have elected to replace LIBO Rate pursuant to (1) an Early Opt-in Election and (2) Section 2.16(c)(i) and paragraph (1) of the definition of “Benchmark Replacement”.
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 ▇▇▇▇▇▇▇▇ 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 has the meaning specified in Section 3.03(b).
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 Borrower have elected to replace LIBOR with respect to Revolving Credit Loans pursuant to (1) an Early Opt-in Election and (2) clause (b)(i) of the definition of “Eurocurrency Rate” and paragraph (1) of the definition of “Benchmark Replacement”.
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 the Administrative Agent and the Company have elected to replace LIBOR pursuant to (a) an Early Opt-in Election, and (b) S ection 2.21(a)(i) and c lause (a) of the definition of “Benchmark Replacement”.
SOFR Early Opt-in means the Agent and the Lead 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 Adjustment” means 0.10% (10.00 basis points) per annum. “Solvent” and “Solvency” means, with respect to any Person and its Restricted Subsidiaries on a Consolidated basis on a particular date, that on such date (a) at fair valuation, all of the properties and assets of such Person are greater than the sum of the debts, including contingent liabilities, of such Person, (b) the present fair saleable value of the properties and assets of such Person is not less than the amount that would be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person is able to realize upon its properties and assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (d) such Person does not intend to, and does not believe that it will, incur debts beyond such Person’s ability to pay as such debts mature, (e) such Person is not engaged in a business or a transaction, and is not about to engage in a business or transaction, for which such Person’s properties and assets would constitute unreasonably small capital after giving due consideration to the prevailing practices in the industry in which such Person is engaged, and (f) such Person is not “insolvent” within the meaning of Section 101 (32) of the Bankruptcy Code. The amount of all guarantees and other contingent liabilities at any time shall be computed as the amount that, in light of all the facts and circumstances existing at the time, can reasonably be expected to become an actual or matured liability. “Specified Availability” means the sum of (a) Availability and (b) the amount by which the Borrowing Base at such time exceeds the Aggregate Commitments up to an amount not to exceed 2.5% of the Aggregate Commitments. “Specified Event of Default” means the occurrence of any Event of Default described in any of Sections 8.01(a), 8.01(b) (due to a failure to comply with Section 6.02(c), Section 6.12 or Section 7.15), 8.01(d) (due to any material misrepresentation with respect to a Borrowing Base certification to the extent not corrected within three (3) Business Days following the provision thereof, if capable of cure thereby) or 8.01(f). “Specified Loan Party” means any Loan Party...