SOFR Early Opt-in means the Administrative Agent and the Borrower have elected to replace LIBOR pursuant to (a) an Early Opt-in Election and (b) Section 3.03(c)(i) and clause (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 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 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 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 means the Administrative Agent and the Borrower have elected to replace LIBOR pursuant to
SOFR Early Opt-in means the Administrative Agent and the Borrower have elected to replace LIBOR pursuant to (i) an Early Opt-in Election and (ii) Section 3.03(c)(i) and paragraph (1) of the definition of “Benchmark Replacement”. “Solvent” means, with respect to any Person, as of any date of determination, that the fair value of the assets of such Person (at fair valuation) is, on the date of determination, greater than the total amount of liabilities (including contingent and unliquidated liabilities) of such Person as of such date, that the present fair saleable value of the assets of such Person will, as of such date, be greater than the amount that will be required to pay the probable liability of such Person on its debts as such debts become absolute and matured, and that, as of such date, such Person will be able to pay all liabilities of such Person as such liabilities mature and such Person does not have unreasonably small capital with which to carry on its business. In computing the amount of contingent or unliquidated liabilities at any time, such liabilities will be computed at the amount which, in 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. “Subordinated Debt” means, collectively, (i) the Junior Subordinated Debentures and (ii) any other unsecured indebtedness of the Borrower (and not a Subsidiary) which is subordinated by its terms to the prior payment in full of the Obligations evidenced by this Agreement in a manner no less favorable to the Lenders than the Junior Subordinated Debentures and which contain covenants that are not less favorable to the Borrower than those contained in the Junior Subordinated Debentures. “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which more than 50% of the Equity Interests having ordinary voting power for the election of directors or other governing body (other than Equity Interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or...
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).