SOFR Interest Rate definition

SOFR Interest Rate means, with respect to each day during which interest accrues on a Loan, the rate per annum (expressed as a percentage) equal to (a) Term SOFR for the applicable Interest Period for such day; or (b) if the then-current Benchmark has been replaced with a Benchmark Replacement pursuant to Section 2.2(n), such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less the Floor.

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SOFR Interest Rate means, with respect to each day during which interest accrues on a Loan, the rate per annum (expressed as a percentage) equal to (a) for SOFR Loans bearing interest based on Term SOFR, Term SOFR for the applicable Term SOFR Interest Period for such day; (b) for SOFR Loans bearing interest based on Daily Simple SOFR, Daily Simple SOFR for such day; or (c) if the then-current Benchmark for (a) or (b) has been replaced with a Benchmark Replacement pursuant to Section 15.24, such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less than 0%) per annum.

SOFR Interest Rate means, with respect to each day during which interest accrues on this Note, the rate per annum (expressed as a percentage) equal to Term SOFR for the applicable Interest Period for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less than the Floor.

Examples of SOFR Interest Rate in a sentence

From and following the Closing Date, except as expressly set forth in this Agreement, Loans and the other Obligations shall bear interest at the sum of the SOFR Interest Rate plus the Applicable Margin.
For the avoidance of doubt, all Loans shall bear interest at the sum of the SOFR Interest Rate plus the Applicable Margin starting on and at all times after the Closing Date.
Upon such notice, the SOFR Interest Rate shall be deemed to be the sum of (x) the Base Rate, plus (y) 7.00%.
For the avoidance of doubt, all Loans, including the Term Loan Tranche 1 and Term Loan Tranche 2, shall bear interest at the sum of the SOFR Interest Rate plus the Applicable Margin starting on and at all times after the Closing Date.
Interest payable at the SOFR Interest Rate shall be paid in cash on the first Business Day of each calendar month Interest Period in arrears (each, an “Interest Payment Date”), payable (i) in the case of New Money Loans, in cash and (ii) in the case of Roll-Up Loans, in kind by capitalizing and adding such interest to the outstanding principal amount of the Roll-Up Loans on such Interest Payment Date (“Roll-Up PIK Interest”).

More Definitions of SOFR Interest Rate

SOFR Interest Rate means the sum of Term SOFR plus 7.00% per annum.

SOFR Interest Rate means, for any calculation period, the daily compounded SOFR determined by the Calculation Agent in accordance with the following formula): [( ) − 1] x 360/d Where:

SOFR Interest Rate means, with respect to each day during which interest accrues on a Loan, the rate per annum (expressed as a percentage) equal to (a) Term SOFR for the applicable Term SOFR Interest Period for such day plus the SOFR Spread Adjustment for the applicable Term SOFR Interest Period; or (b) if the then-current Benchmark has been replaced with a Benchmark Replacement pursuant to Section 15.24, such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less than (i) three and 60/100 percent (3.60%) per annum for Loans with a Term SOFR Interest Period of 1 month; (ii) three and 65/100 percent (3.65%) per annum for Loans with a Term SOFR Interest Period of 3 months and (iii) three and 75/100 percent (3.75%) per annum with a Term SOFR Interest Period of 6 months.

SOFR Interest Rate means, with respect to each day during which interest accrues on a Loan, the rate per annum (expressed as a percentage) equal to (a) Term SOFR for the applicable Interest Period for such day; or (b) if the then-current Benchmark has been replaced with a Benchmark Replacement pursuant to Section 2.2(k), such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less the Floor.

SOFR Interest Rate in Section 1.1 of the Existing A&R Credit Agreement is hereby amended by adding the word “than” before “the Floor” in such definition.

SOFR Interest Rate means, with respect to each day during which interest accrues on any portion of a SOFR Loan, subject to the terms and conditions of this Agreement, the rate per annum (expressed as a percentage) equal to (i) Term SOFR for the applicable Term SOFR Interest Period for such day; or (ii) if the then-current Benchmark has been replaced with a Benchmark Replacement pursuant to Section 6.9, such Benchmark Replacement for such day; provided that if Lender shall exercise its rights under Section 3.1, Section 6.2 or Section 6.3, the Prime Rate, plus the Default Rate if applicable, shall apply for such

SOFR Interest Rate means, with respect to each day during which interest accrues on a Loan, the rate per annum (expressed as a percentage) equal to (a) Term SOFR for the applicable Interest Period for such day; or (b) if the then-current Benchmark has been replaced with a Benchmark Replacement MidCap / Cerus / A&R Credit, Security and Guaranty Agreement (Revolving Loan) pursuant to Section 2.2(p), such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less the Floor.