SOFR Loan definition

SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

SOFR Loan means any Daily Simple SOFR Loan or Term SOFR Loan.

SOFR Loan means any Revolving Loan bearing interest at a rate based on Adjusted Term SOFR as provided in Section 3.1(a)(ii).

Examples of SOFR Loan in a sentence

• Each Revolving Loan (other than any Specified Revolving Loan) that is a SOFR Loan shall bear interest on the principal amount thereof from time to time outstanding, from the date of such Loan until repaid, at a rate per annum equal to Term SOFR for the Interest Period in effect for such Loan plus the Applicable Margin.

• In lieu of making any payment pursuant to this Section 5.2 in respect of any Term SOFR Loan other than on the last day of the Interest Period therefor so long as no Event of Default shall have occurred and be continuing, the Borrower at its option may deposit with the Administrative Agent an amount equal to the amount of the Term SOFR Loan to be prepaid and such Term SOFR Loan shall be repaid on the last day of the Interest Period therefor in the required amount.

• Subject to the terms of this Agreement, at the option of the Administrative Borrower, the Term Loan (including, without limitation, the Term Loan PIK Amount related thereto) or any portion thereof shall be either a Reference Rate Loan or a SOFR Loan.

• All prepayments under this Section 2.05 (i) shall be accompanied by all accrued interest thereon, together with, in the case of any such prepayment of a SOFR Loan on a date prior to the last day of an Interest Period therefor, any amounts owing in respect of such SOFR Loan pursuant to Section 3.05 and (ii) subject to Section 2.20 with respect to prepayments under Section 2.05(b)(iv), shall be without premium or penalty.

• Subject to the terms of this Agreement, at the option of the Administrative Borrower, each Revolving Loan (other than any Specified Revolving Loan) shall be either a Reference Rate Loan or a SOFR Loan.

More Definitions of SOFR Loan

SOFR Loan means the Loan at such time as interest thereon accrues at a rate of interest equal to the SOFR Rate.

SOFR Loan or “Base Rate Loan”) or by Class and Type (e.g. “Revolving SOFR Loan”). Borrowings also may be classified and referred to by Class (e.g. “Revolving Borrowing”) or by Type (e.g. “SOFR Borrowing”) or by Class and Type (e.g. “Revolving SOFR Borrowing”).

SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (iii) of the definition of “Base Rate”.

SOFR Loan means any Loan bearing interest based on Adjusted Term SOFR.

SOFR Loan means an Advance or Loan which, except as otherwise provided in Section 2.11, bears interest based on Term SOFR. SOFR Advances and SOFR Loans shall be denominated in Dollars.

SOFR Loan means an Adjusted Term SOFR Loan; provided that, if a replacement of the Benchmark has occurred pursuant to Section 2.12(c) with respect to Adjusted Term SOFR, a Daily Simple SOFR Loan.

SOFR Loan means a Loan bearing interest based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.