SOFR Rate Margin definition

SOFR Rate Margin means the Revolving Loan SOFR Margin.

SOFR Rate Margin means the Applicable SOFR Rate Margin as set forth in the definition of the term Applicable Margin.

SOFR Rate Margin means the Revolving Loan SOFR Rate Margin.

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).

• Each Advance shall bear interest on the outstanding principal amount thereof from the date when made, continued or converted until paid in full at a per annum rate equal to (i) for Prime Rate Advances, the greater of (A) Prime Rate plus the Prime Rate Margin and (B) four percent (4.0%), and (ii) for SOFR Advances, the greater of (A) Adjusted Term SOFR plus the SOFR Rate Margin and (B) four percent (4.0%).

More Definitions of SOFR Rate Margin

SOFR Rate Margin means four hundred (400) basis points.

SOFR Rate Margin. “SOFR Rate Margin” is (a) if Borrower’s Maximum Net Leverage Ratio is less than 1.50 to 1.00, two percent (2.00%), and (b) if Borrower’s Maximum Net Leverage Ratio is greater than or equal to 1.50 to 1.00, three percent (3.00%).

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.

SOFR Rate Margin means 2.25%.

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).

SOFR Rate Margin. “SOFR Rate Margin” is 2.50% 12.2 – “Term SOFR” “Term SOFR” is the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and the Term SOFR Reference Rate has not been replaced as the benchmark rate, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day; provided, further, that if Term SOFR determined as provided above (including pursuant to the proviso above) shall ever be less than zero

SOFR Rate Margin is set forth on Schedule I hereto.