SOFR Index Rate definition

SOFR Index Rate means the rate of interest (rounded to the nearest ten thousandth of one percent, with five hundred thousandths being rounded upward) determined on

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SOFR Index Rate means, as of any SOFR Index Adjustment Date, the greater of (a) the Floor, and (b) the rate per annum for the forward-looking term rate for SOFR for a period of one month, which appears on the CME Term SOFR Page on or about 5:00 a.m. (central time) on the SOFR Index Adjustment Date; provided, that, to the extent that the rate described in this clause is not ascertainable pursuant to the foregoing provisions of this definition, then the rate described in this clause (b) shall be the interest rate per annum determined by Administrative Agent in Administrative Agent’s reasonable discretion in accordance with Section 2.02(e).

SOFR Index Rate means, as of any SOFR Index Adjustment Date, the greater of (a) the Floor, and (b) the rate per annum for the forward-looking term rate for SOFR for a period one (1) month, which appears on the CME Term SOFR Page on or about 5:00 a.m. (New York time) on the date of such SOFR Index Adjustment Date; provided, that, to the extent that the rate described in this clause (b)(i) is not ascertainable pursuant to the foregoing provisions of this definition, then the rate described in this clause (b)(i) shall be the interest rate per annum determined by Agent in Agent’s reasonable discretion in accordance with Section 2.1(d).

Examples of SOFR Index Rate in a sentence

• Upon receipt of such notice, Administrative Borrower may revoke any pending request for a Borrowing of Loans based on the SOFR Index Rate (to the extent of the affected Loans).

• Thereafter, (1) the obligation of Lenders to make or maintain Loans based on the SOFR Index Rate shall be suspended (to the extent of the affected Loans), and (2) in the event of a determination described in the preceding sentence with respect to the SOFR Index Rate component of the Base Rate, the utilization of the SOFR Index Rate component in determining the Base Rate shall be suspended, in each case until Administrative Agent revokes such notice in writing.

• Thereafter, (x) the obligation of the Lenders to make or maintain Loans based in the SOFR Index Rate shall be suspended (to the extent of the affected Loans), and (y) the SOFR Index Rate component shall no longer be utilized in determining the Base Rate.

• Upon receipt of such notice, Administrative Borrower may revoke any pending request for a borrowing of Loans based on the SOFR Index Rate (to the extent of the affected Loans).

• Absent due notice from the Borrowers of conversion or renewal in the circumstances described in Section 3.2(a) hereof, any part of the Fixed Rate Portion for which such notice is not received shall be converted automatically to the Weekly One-Month SOFR Index Rate Option on the last day of the expiring Funding Period.

More Definitions of SOFR Index Rate

SOFR Index Rate means the rate of interest (rounded to the nearest ten thousandth of one percent, with five hundred thousandths being rounded upward) determined on each SOFR Reset Date by the Indexing Agent for the period commencing on such SOFR Reset Date to but not including the next succeeding SOFR Reset Date, which is equal to seventy percent (70%) of SOFR for the SOFR Reference Date for such SOFR Reset Date (but in any event, not less than 0%), plus the Spread; provided, however, that in no event shall the SOFR Index Rate exceed the Maximum Rate.

SOFR Index Rate means Daily Simple SOFR.

SOFR Index Rate means a variable rate of interest per annum equal to the sum of (A) the applicable SOFR Index, plus (B) 0.11448% (11.448 basis points), plus (C) the Applicable Margin.

SOFR Index Rate means a per annum rate of interest established on each Computation Date equal to the product of (a) the sum of (i) the Applicable Spread plus (ii) the product of (1) the SOFR Index multiplied by (2) the Applicable Factor multiplied by

SOFR Index Rate means, for the relevant interest period for which such index is not available, the rate of return on a daily compounded interest investment calculated in accordance with the formula for SOFR Averages, and definitions required for such formula, published on the SOFR Administrator’s Website at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/markets/treasury-repo-reference-rates-information (or such successor website). For the purposes of this provision, references in the SOFR Averages compounding formula and related definitions to “calculation period” shall be replaced with “Observation Period” and the words “that is, 30-, 90-, or 180- calendar days” shall be removed. If the daily SOFR (“SOFRi”) does not so appear for any day, “i” in the Observation Period, SOFRi for such day “i” shall be SOFR published in respect of the first preceding U.S. Government Securities Business Day for which SOFR was published on the SOFR Administrator’s Website.

SOFR Index Rate means a per annum rate of interest established on each Computation Date and effective on the related SOFR Index Reset Date equal to the sum of: (a) the product of the Term SOFR multiplied by the Applicable Factor; plus (b) the product of the Applicable Spread multiplied by the Margin Rate Factor, determined as provided in Section 202 hereof.

SOFR Index Rate means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment during the Observation Period relating to such Interest Accrual Period (with the Secured Overnight Financing Rate as reference rate for the calculation of interest) and will be calculated by the Calculation Agent (or such other party responsible for the calculation for the Rate of Interest, as specified in the applicable Final Terms) on the Interest Determination Date as follows, and the resulting percentage will be rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards: