SOFR Loans definition

SOFR Loans means Loans accruing interest at an Applicable Rate based upon Term SOFR.

SOFR Loans means Construction/Term Loans bearing interest based upon Daily Compounded SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

SOFR Loans means, as the case may be, a Term SOFR Loan, or a Daily SOFR Loan.

Examples of SOFR Loans in a sentence

• Any such automatic conversion or continuation shall be effective as of the last day of the Interest Period then in effect with respect to the applicable SOFR Loans.

• Initial Term Loans may be Base Rate Loans or SOFR Loans, as further provided herein.

• Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of SOFR Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

• If the Borrower fails to specify a Type of Loan in a Committed Loan Notice, then the applicable Loans shall be made as SOFR Loans with an Interest Period of one (1) month and if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be converted to Base Rate Loans.

• If the Borrower requests a Borrowing of, conversion to, or continuation of SOFR Loans in any such Committed Loan Notice, but fail to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

More Definitions of SOFR Loans

SOFR Loans means, as the case may be, a Term SOFR Loan, or a Daily SOFR Loan. “SOFR Scheduled Unavailability Date” has the meaning specified in Section 3.03(b). “SOFR Successor Rate” has the meaning specified in Section 3.03(b).

SOFR Loans means the Borrowings or any portion thereof, made available by the Lenders to a Borrower pursuant to Sections 3.1 or 3.3 and outstanding from time to time, which bear interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate (Canada) Advance”, and on which the applicable Borrower has agreed to pay interest in accordance with Section 3.5(c).

SOFR Loans means the Borrowings or any portion thereof, made available by the Lenders to a Borrower pursuant to Sections 3.1 or 3.3 and outstanding from time to time, which bear interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate (Canada) Advance”, and on which the applicable Borrower has agreed to pay interest in accordance with Section 3.6(c).

SOFR Loans. Loans the rate of interest applicable to which is based upon Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “ABR”.

SOFR Loans. Interest Period Percentage One month 0.10% Three months 0.15% Six months 0.25% 58 US-DOCS\121951479.16133960081.2

SOFR Loans. Interest Period Percentage One month 0.11448 % Three months 0.26161% Six months 0.42826% “Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion). “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Test Period” means, at any date of determination, the period of four consecutive fiscal quarters of the Borrower then last ended for which financial statements have been or were required to have been delivered pursuant to Section 4.01(i), 5.01(a) or 5.01(b). “Tiered Offer” has the meaning assigned to such term in Section 2.26(b)(i). “Total Net Leverage Ratio” means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Net Debt as of such date to (b) LTM EBITDA. “Transaction Costs” means all fees, costs and expenses incurred or payable by the Borrower or any Subsidiary in connection with the Refinancing. “Transactions” means (a) the Refinancing and (b) the payment of the Transaction Costs. “Transformative Acquisition” means any acquisition or investment by the Borrower or any Restricted Subsidiary that is either (a) not permitted by the terms of the Loan Documents immediately prior to the consummation of such acquisition or investment or (b) if permitted by the terms of the Loan Documents immediately prior to the consummation of such acquisition or investment, would not provide the Borrower and its Subsidiaries with adequate flexibility under the Loan Documents for continuation and/or expansion of their combined operations following such consummation, as determined by the Borrower acting in good faith. “Type,” when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to Adjusted Term SOFR or the Alternate Base Rate.

SOFR Loans. RFR Loans, Term SOFR Loans and Daily SOFR Loans.