SOFR Rate Advance definition

SOFR Rate Advance means each Advance that bears interest at a rate based on the Benchmark as provided in Section 2.04.
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SOFR Rate Advance means an Advance that, except as otherwise provided in Section 2.11, bears interest at a SOFR Rate.
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SOFR Rate Advance means any borrowing under this Note when and to the extent that its interest rate is determined by reference to the Adjusted SOFR Rate.
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Examples of SOFR Rate Advance in a sentence

  • While an Advance is a SOFR Rate Advance, a rate per annum for each Interest Accrual Period for such Advance equal to the sum of the Benchmark for such Interest Accrual Period (giving effect to the applicable SOFR Adjustment) plus the Facility Margin Level.

  • Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a SOFR Rate Advance, conversion to or continuation of SOFR Rate Advances to be made, converted or continued during any Benchmark Unavailability Period and, in the absence of such revocation, the Borrower will be deemed to have converted any such request into a request for an Advance of or conversion to Base Rate Advances.

  • Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a SOFR Rate Advance, conversion to or continuation of SOFR Rate Advances to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for an Advance of or conversion to Base Rate Advances.

  • During such periods as such Advance is an Adjusted Daily Simple SOFR Rate Advance, a rate per annum equal at all times to the sum of (x) the Adjusted Daily Simple SOFR Rate in effect from time to time plus (y) the Applicable Margin applicable to such Lender in effect from time to time, payable in arrears on each Interest Payment Date and on the date such Adjusted Daily Simple SOFR Rate Advance shall be Converted or paid in full.

  • The failure to give such notice shall be considered a request to Continue such Advance as a LIBORTerm SOFR Rate Advance with a one month Interest Period.

  • Each such irrevocable notice of a Borrowing (a “Funding Notice”) shall be in writing, including by telecopier or electronic communication, in substantially the form of Exhibit C, specifying therein the requested (i) date of such Borrowing, (ii) Type of Advance comprising such Borrowing, (iii) aggregate amount of such Borrowing and (iv) in the case of a Borrowing consisting of a SOFR Rate Advance, the initial Interest Period for such Advance.

  • In addition, if the Borrower shall fail to provide a timely notice of Conversion or continuation for any Term ​ ​ Credit Agreement ​ ​ SOFR Rate Advance, such Term SOFR Rate Advance will automatically Convert into a Base Rate Advance.

  • While an Advance is a SOFR Rate Advance, a rate per annum for each Interest Accrual Period for such Advance equal to the sum of the Benchmark for such Interest Accrual Period plus the Facility Margin Level.

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  • Whenever any payment under this Note becomes due and payable on a day that is not a Business Day, if no default then exists under this Note, the maturity of the payment shall be extended to the next succeeding Business Day, except, in the case of a SOFR Rate Advance, if the result of the extension would be to extend the payment into another calendar month, the payment must be made on the immediately preceding Business Day.

Related to SOFR Rate Advance

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

  • ABR Advance means an Advance which bears interest at the ABR Rate.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.