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(o), 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 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.
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.
Examples of SOFR Interest Rate in a sentence
If, as provided in Section 2.2, Borrower requests and Lender grants an extension of credit on the same Business Day, thereby waiving the three-day prior notice requirement, any such Revolving Loan shall bear interest at the Prime Rate rather than the SOFR Interest Rate and margin described above.
The amount of cash entering and being handled on the premises should be kept to a minimum.
Notwithstanding the foregoing, Lender may, in its sole discretion, process an advance against the Revolving Loan Commitment on the same Business Day provided that (a) Borrower shall have provided Lender with a Notice of Borrowing not later than 11:00 A.M., Chicago time on such day; and (b) in lieu of the SOFR Interest Rate, any such Loan shall accrue interest at the Prime Rate plus/minus any applicable spread.
The applicable SOFR Interest Rate shall be determined by Lender, and notice thereof shall be given by Lender promptly to Borrower.
Each determination of the applicable SOFR Interest Rate by Lender shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error.
More Definitions of SOFR Interest Rate
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, for any calculation period, the daily compounded SOFR determined by the Calculation Agent in accordance with the following formula): [( SOFR Index End ) SOFR Index Start - X 360/dc Where:
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 pursuant to Section 2.2(o), such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less the Floor. MACROBUTTON DocID \\4133-3995-7584 v6 MidCap / Shimmick / Credit, Security and Guaranty Agreement
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 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.