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).
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SOFR Index Rate means Daily Simple SOFR.
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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, (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.

  • 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.

  • 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.

  • The unpaid principal amount of the Term Loan A-2 shall bear interest for each day until due on one or more bases selected by the Borrowers from among the interest rate Options set forth below, with the Term Loan A-2 initially bearing interest under the Weekly One-Month SOFR Index Rate Option.

  • The rate shall be reset automatically, without the necessity of notice being provided to Borrower or any other party, on the first Business Day of each succeeding week, and each change in the rate shall be applicable to all balances subject to the Weekly One-Month SOFR Index Rate Option.

  • Upon such date as shall be specified in such notice (which shall not be earlier than the date such notice is given), the obligation of the Lender to allow the Borrowers to select, convert to or renew a Weekly One-Month SOFR Index Rate Option shall be suspended until the Lender shall have later notified the Borrowers of the Lender’s determination in good faith (which determination shall be conclusive) that the circumstance giving rise to such previous determination no longer exist.

  • 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).

  • To the extent permitted by law, the Purchaser and its affiliates or other related entities may engage in transactions that affect the calculation of the Benchmark, the Tax-Exempt SOFR Index Rate or the Taxable SOFR Index Rate any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the County.

  • In addition to the other provisions of this Agreement, as a condition to any Term SOFR Index Rate election hereunder, on or before the date on which the applicable Term SOFR Loan is to be advanced or converted hereunder, in each case in accordance with Agent’s loan policies and procedures periodically in effect, Borrower shall notify Agent of each of the following: (i) the requested amount of such Term SOFR Loan and (ii) the date of the requested Advance or conversion.


More Definitions of SOFR Index Rate

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.
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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.
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SOFR Index Rate means, as of any SOFR Index Adjustment Date, the greater of (a) the Floor, and (b) the sum of (i) 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. on the date which is the last Business Day prior to such SOFR Index Adjustment Date with respect to Term Loans and on such SOFR Index Adjustment Date with respect to the Revolver Loans; 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 the Administrative Agent in its reasonable discretion in accordance with Section 2.02(e) plus (ii) the SOFR Spread Adjustment.
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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.
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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
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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 xxxxx://xxx.xxxxxxxxxx.xxx/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.
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Related to SOFR Index Rate

  • Index Rate means, for any day, a floating rate equal to the higher of (i) the rate publicly quoted from time to time by The Wall Street Journal as the "base rate on corporate loans posted by at least 75% of the nation's 30 largest banks" (or, if The Wall Street Journal ceases quoting a base rate of the type described, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled "Selected Interest Rates" as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

  • SOFR Index means, with respect to any U.S. Government Securities Business Day:

  • SOFR IndexEnd means the SOFR Index value on the day which is five U.S. Government Securities Business Days preceding the Interest Payment Date relating to such Interest Period (or in the final Interest Period, the Maturity Date).

  • SOFR IndexStart means the SOFR Index value on the day which is two U.S. Government Securities Business Days preceding the first date of the relevant Interest Period (an "Index Determination Date"); and

  • Final Index Level : means the Closing Level of the FTSE 100 Index on the Investment End Date.