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(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) 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 the sum of Term SOFR plus 7.00% per annum.

Examples of SOFR Interest Rate in a sentence

• 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.

• The applicable SOFR Interest Rate shall be determined by Lender, and notice thereof shall be given by Lender promptly to Borrower.

• 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.

• 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.

• All sums advanced and outstanding from time to time under the Term Loan shall bear interest per annum at a rate at a rate equal to either (a) the SOFR Interest Rate plus 230 basis points, but in no event less than two and 00/100ths percent (2.00%) per annum, or (b) the Prime Rate minus 50 basis points, floating, but in no event less than two and 00/100ths percent (2.00%) per annum.

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, 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 12.21, such Benchmark Replacement for such day. Notwithstanding the foregoing, the SOFR Interest Rate shall not at any time be less than the Floor.

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, for any calculation period, the daily compounded SOFR determined by the Calculation Agent in accordance with the following formula): [( ) − 1] x 360/d SOFR Index 𝑆𝑡𝑎r𝑡 c 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 the Amended Agreement, the rate per annum (expressed as a percentage) equal to Term SOFR for the applicable Term SOFR Interest Period for such day, plus the SOFR Margin that applies to such type of SOFR Loan plus the SOFR Spread Adjustment for the applicable Term SOFR Interest Period; provided that if the Existing Agreement contains a minimum percentage floor for the “all in” sum of US dollar LIBOR plus the margin added thereto in accordance with the Existing Agreement for a US dollar LIBOR Credit Extension thereunder of the same type, then the SOFR Interest Rate on such SOFR Loan or portion thereof shall not at any time be less than such minimum percentage 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(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) 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 zero percent (0%) per annum.