SOFR Index Adjustment means for any calculation with respect to a Daily Simple SOFR Loan or a Term SOFR Loan, a percentage per annum as set forth below for the applicable Type of such Loan and (if applicable) Interest Period therefor:
SOFR Index Adjustment means a percentage equal to one tenth of one percent (0.10%) per annum for Term SOFR Loans and for Daily Simple SOFR Loans.
Examples of SOFR Index Adjustment in a sentence
With respect to a Daily Simple SOFR Loan, the greater of (1) the sum of (a) Daily Simple SOFR and (b) the applicable SOFR Index Adjustment and (2) the Floor.
For any Available Tenor and Interest Period with respect to a Term SOFR Loan, an interest rate per annum equal to (a) Term SOFR for such Interest Period, plus (b) the applicable SOFR Index Adjustment; provided that if Adjusted Term SOFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
For any Available Tenor and Interest Period with respect to a Term SOFR Loan, the greater of (1) sum of (a) Term SOFR for such Interest Period and (b) the applicable SOFR Index Adjustment and (2) the Floor.
For any Available Tenor and Interest Period with respect to a Term SOFR Loan, an interest rate per annum equal to (a) Term SOFR for such Interest Period, plus (b) the applicable Term SOFR Index Adjustment; provided that if Adjusted Term SOFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.
The outstanding principal amount of each Advance made by the Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Advance is a Base Rate Loan, the Base Rate plus the Applicable Revolving Loan Margin in effect from time to time and (ii) during such periods as such Advance is a SOFR Loan, the Daily Simple SOFR rate plus the SOFR Index Adjustment plus the Applicable Revolving Loan Margin in effect from time to time.
More Definitions of SOFR Index Adjustment
SOFR Index Adjustment means a percentage per annum as set forth below for the applicable Interest Period therefor: One month 0.10 % Three months 0.15% Six months 0.25%
SOFR Index Adjustment. Means, (i) for Daily Simple SOFR, 0.100000% (10 basis points) and (ii) for Adjusted Term SOFR and with respect to any Interest Period relating to a Term SOFR Loan, the rate per annum set forth in the table below across from the relevant Interest Period: One-Month 0.100000% (10 basis points) Three-Months 0.100000% (10 basis points) Six-Months 0.100000% (10 basis points) For the avoidance of doubt, any changes to the SOFR Index Adjustment shall only require the prior written consent of the Required Lenders.
SOFR Index Adjustment means 0% per annum.
SOFR Index Adjustment means a percentage equal to 0.10% per annum. “SOFR Loan” means each Loan bearing interest at a rate based upon (a) Adjusted Term SOFR (other than pursuant to clause (iii) of the definition of “Base Rate”) or (b) Adjusted Daily Simple SOFR. “SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”. “Solvent” or “Solvency” means, with respect to any Person as of a particular date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent obligations and other commitments as they mature in the ordinary course of business, (b) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature in their ordinary course, (c) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged or is to engage, (d) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person and (e) the present fair salable 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. In computing the amount of contingent liabilities at any time, it is intended that 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. “Specified Credit Party” means any Credit Party that is not then an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 10.11). “Subordinated Debt” means any Indebtedness of the Borrower or any of its Subsidiaries that by its terms is expressly subordinated in right of payment to the prior payment of the Obligations under this Agreement on terms and conditions, and evidenced by documentation, reasonably satisfactory to the Administrative Agent. “Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than fifty percent (50%) of the to...
SOFR Index Adjustment. (i) for Daily Simple SOFR, 0.100000% (10 basis points) and (ii) for Adjusted Term SOFR and with respect to any Interest Period relating to a Term SOFR Loan, the rate per annum set forth in the table below across from the relevant Interest Period: One-Month 0.100000% (10 basis points) Three-Month 0.100000% (10 basis points)
SOFR Index Adjustment means 0.10%. “SOFR Loan” means each Loan bearing interest at a rate based upon (a) Adjusted Term SOFR (other than pursuant to clause (iii) of the definition of “Alternate Base Rate”) or (b) Adjusted Daily Simple SOFR. “SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”. “Subsidiary” of a Person means (i) any corporation more than 50% of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any partnership, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries; provided, however, that, with respect to the Borrower, “Subsidiary” shall include all Persons which are required to be consolidated with the Borrower in accordance with GAAP. Unless otherwise expressly provided, all references herein to a “Subsidiary” shall mean a Subsidiary of the Borrower. “Subsidiary Guarantor” means, as of any date, each Subsidiary of the Borrower which is then a party to the Subsidiary Guaranty pursuant to Section 6.21. “Subsidiary Guarantors’ Release Date” means the date, if any, on which each Subsidiary Guarantor is released from the Subsidiary Guaranty pursuant to Section 6.21 or other unanimous Lender consent. “Subsidiary Guaranty” means the guaranty to be executed and delivered by those Subsidiaries of the Borrower which are required to be Subsidiary Guarantors as of the Agreement Effective Date, substantially in the form of Exhibit D attached to this Agreement, as the same may be amended, supplemented or otherwise modified from time to time pursuant to Section 6.21, including any joinders executed by additional Subsidiaries required to become Subsidiary Guarantors from time to time hereunder. “Substantial Portion” means, with respect to any Property of the Borrower or its Subsidiaries, Property which represents more than 10% of then-current Total Asset Value. “Supported QFC” is defined in Section 9.17. “Sustainability Adjustment Date” means January 1 of each calendar year; provided that the Borrower has previously provided to the Administrative Agent a certificate referencing the Applicable Sustainab...