SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.05(a)(i)(A).
SOFR Rate Option means the option of the Seller to have Investments accrue discount at the rate and under the terms specified in Section 1.12(a)(i)(A)(1).
SOFR Rate Option. A rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to the Adjusted Term SOFR Rate as determined for each applicable Interest Period plus the Applicable Margin. (b)
Examples of SOFR Rate Option in a sentence
If the Borrower fails to select a new Tranche Period to apply to any Borrowing Tranche of Loans under any Term Rate Loan Option at the expiration of an existing Tranche Period applicable to such Borrowing Tranche in accordance with the provisions of Section 2.07, the Borrower shall be deemed to have converted such Borrowing Tranche to the SOFR Rate Option with a Tranche Period of one (1) month commencing upon the last day of the existing Tranche Period.
If the Borrower provides any Loan Request related to a Loan at the SOFR Rate Option but fails to identify a Tranche Period therefor, such Loan Request shall be deemed to request a Tranche Period of one (1) month.
More Definitions of SOFR Rate Option
SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(ii) [SOFR Rate Option] at the Term SOFR Rate or the Daily Simple SOFR fixed as set forth herein. Solvent means, with respect to any Person on a particular date taking into account any right of reimbursement, contribution or similar right available to such Person from other Persons, that on such date (i) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (ii) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person is able to realize upon its assets and pay its debts and other liabilities as they mature in the normal course of business, (iv) such Person has not incurred debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature, and (v) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. In computing the amount of contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.
SOFR Rate Option the Rate Option in which interest is based on the Applicable Interest Margin plus the greater of (a) the SOFR Loan Rate or (b) the Index Floor.