SOFR Rate Margin definition

SOFR Rate Margin. “SOFR Rate Margin” is (a) if Borrower’s Maximum Net Leverage Ratio is less than 1.50 to 1.00, one and three-quarters of one percent (1.75%), (b) if Borrower’s Maximum Net Leverage Ratio is at least 1.50 to 1.00 but no greater than 2.25 to 1.00, two percent (2.00%), and (c) if Borrower’s Maximum Net Leverage Ratio is greater than 2.25 to 1.00, two and one-quarter of one percent (2.25%).
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SOFR Rate Margin means the Revolving Loan SOFR Margin.
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SOFR Rate Margin means the Applicable SOFR Rate Margin as set forth in the definition of the term Applicable Margin.
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Examples of SOFR Rate Margin in a sentence

  • Borrowers shall pay Agent (for the ratable benefit of the Lenders), a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in Section 2.11(k)) that shall accrue at a per annum rate equal to the SOFR Rate Margin times the average amount of the Letter of Credit Usage during the immediately preceding month.

  • Except as provided in Section 2.6(c) and in Section 2.12, all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to Daily Simple SOFR plus the SOFR Rate Margin.

  • Borrowers shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in Section 2.11(k)) that shall accrue at a per annum rate equal to the Revolving Loan SOFR Rate Margin times the average amount of the Letter of Credit Usage during the immediately preceding month.

  • The outstanding principal amount of any Advance shall accrue interest at, (a) with respect to any Advance that is a Prime Rate Advance, a floating rate per annum equal to the Prime Rate plus the applicable Prime Rate Margin, and, (b) with respect to any Advance that is a SOFR Advance, a rate per annum equal to the Adjusted Term SOFR, plus the applicable SOFR Rate Margin, which interest shall be payable in accordance with Section 2.3(b).

  • The outstanding principal amount of the Term Loan Advance shall accrue interest at, (a) with respect to any Term Loan Advance that is a Prime Rate Advance, a floating rate per annum equal to the Prime Rate plus the applicable Prime Rate Margin, and, (b) with respect to any Term Loan Advance that is a SOFR Advance, rate per annum equal to the Adjusted Term SOFR, plus the applicable SOFR Rate Margin, which interest shall be payable in accordance with Section 2.3(b).


More Definitions of SOFR Rate Margin

SOFR Rate Margin means the Revolving Loan SOFR Rate Margin.
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SOFR Rate Margin means four hundred (400) basis points.
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SOFR Rate Margin is two and one-quarter of one percent (2.25%).”
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SOFR Rate Margin. “SOFR Rate Margin” is (i) if the Net Availability Percentage is greater than or equal to 66%, 1.50%, (ii) if the Net Availability Percentage is less than 66% but greater than or equal to 33%, 1.75% and (iii) if the Net Availability Ratio is less than 33%, 2.00%, in each case as determined on the basis of and adjusted promptly upon Bank’s determination of the Net Availability Ratio. Subject to Section 12.1, the SOFR Rate Margin applicable to SOFR Advances shall be determined on the basis of Lead Borrower’s most recent Borrowing Base Statement, pursuant to Section 5.3(a), and such SOFR Rate Margin shall be adjusted promptly upon each receipt of such Borrowing Base Statement; provided however, notwithstanding the foregoing, if the Borrowing Base Statement required by Section 5.3(a) is not delivered by the respective date required thereunder, the SOFR Rate Margin shall be 2.00% until such Borrowing Base Statement is delivered.
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SOFR Rate Margin means a percentage per annum equal to (x) 7.50% and (y) commencing with the fiscal quarter ending December 31, 2024, the following percentages per annum, based upon the Borrower’s Adjusted Net Leverage Ratio as specified in the most recent Compliance Certificate received by the Agent pursuant to Section 5.2(d): Pricing Level Adjusted Net Leverage Ratio SOFR Rate Margin 1 > 3.25:1.00 7.50%
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SOFR Rate Margin is set forth on Schedule I hereto.
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SOFR Rate Margin is (a) for Advances, (i) if Borrower’s Leverage Ratio is less than 1.00:1.00, three and one-tenth of one percent (3.10%), (ii) if Borrower’s Leverage Ratio is greater than or equal to 1.00:1.00, but less than 2.00:1.00, three and six-tenths of one percent (3.60%), and (iii) if Borrower’s Leverage Ratio is greater than or equal to 2.00:1.00, four and one-tenth of one percent (4.10%) and (b) for Term Loan Advances (i) if Borrower’s Leverage Ratio is less than 1.00:1.00, three and one-tenth of one percent (3.10%), (ii) if Borrower’s Leverage Ratio is greater than or equal to 1.00:1.00, but less than 2.00:1.00, three and six-tenths of one percent (3.60%), and (iii) if Borrower’s Leverage Ratio is greater than or equal to 2.00:1.00, four and one-tenth of one percent (4.10%), in each case as determined on the basis of and adjusted promptly on the receipt of Borrower’s most recent financial statements provided pursuant to Section 5.3(c).
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