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 four hundred (400) basis points.

Examples of SOFR Rate Margin in a sentence

• 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.

• 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.

• 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%).

• 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 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. “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 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 means one and three quarters of one percent (1.75%).

SOFR Rate Margin has the meaning set forth in the definition of Applicable Margin. “Solvent” means, with respect to any Person as of any date of determination, that (a) at fair valuations, the sum of such Person’s debts (including contingent liabilities) is less than all of such Person’s assets, (b) such Person is not engaged or about to engage in a business or transaction for which the remaining assets of such Person are unreasonably small in relation to the business or transaction or for which the property remaining with such Person is an unreasonably small capital, and (c) such Person has not incurred and does not intend to incur, or reasonably believe that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise), and (d) such Person is “solvent” or not “insolvent”, as applicable within the meaning given those terms and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such

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