SOFR Loans definition

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

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

Examples of SOFR Loans in a sentence

• For the avoidance of doubt, from and after such date, (x) all Term SOFR Loans shall bear interest at the Successor Rate plus the Applicable Margin; and (y) all references herein and in any other Fundamental Documents to “Adjusted Term SOFR” shall mean and refer to the Successor Rate.

• Notwithstanding any other provisions hereof, if any Applicable Law shall make it unlawful for any Lender to make, fund or maintain Term SOFR Loans, such Lender shall promptly give notice of such circumstances to Administrative Agent, Borrowers and the other Lenders.

• In such an event, (i) the commitment of the Lenders to make Term SOFR Loans, continue Term SOFR Loans as Term SOFR Loans or convert Base Rate Loans to Term SOFR Loans shall be immediately suspended and (ii) any outstanding Term SOFR Loans shall be converted automatically to Base Rate Loans on the last day of the Interest Period thereof or at such earlier time as may be required by Applicable Law.

• Borrower may request that Loans permitted to be made hereunder be Term SOFR Loans and that outstanding portions of Loans made hereunder be converted to Term SOFR Loans.

• The interest rate on Term SOFR Borrowings and Daily Term SOFR Loans is determined by reference to the Adjusted Term SOFR Screen Rate and Daily Term SOFR Screen Rate, respectively, which is derived from Term SOFR.

More Definitions of SOFR Loans

SOFR Loans means Loans the interest rates on which are determined on the basis of rates referred to in the definition of “Adjusted Term SOFR”.

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. 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.

SOFR Loans. Term Loans the rate of interest applicable to which is based upon Term SOFR.