SOFR Revolving Loan definition

SOFR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted Term SOFR in accordance with the provisions of Article II.

SOFR Revolving Loan means any Revolving Facility Loan that is a SOFR Loan.

SOFR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to Adjusted Term SOFR.

Examples of SOFR Revolving Loan in a sentence

• During any Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a Term SOFR Revolving Loan.

• Borrowings also may be classified and referred to by Class (e.g., a “Revolving Loan Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “EurocurrencyTerm SOFR Revolving Loan Borrowing”).

• Upon delivery of such notice, Borrower shall either prepay the Term SOFR Revolving Loans or convert the Term SOFR Revolving Loans of such Lender to Base Rate Revolving Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain the Term SOFR Revolving Loan and charge applicable interest to such day, or immediately, if such Lender cannot so maintain such Term SOFR Revolving Loan.

• Borrowings also may be classified and referred to by Class (e.g., a “Revolving Loan Borrowing”) or by Type (e.g., a “EurocurrencyTerm SOFR Borrowing”) or by Class and Type (e.g., a “Term SOFR Revolving Loan Borrowing”).

• For purposes of this Agreement, Loans may beclassified and referred to by Class (e.g., a “Revolving Loan ”) or by Type (e.g., a “Eurodollar Loan ” or “Term SOFR Loan” ) or by Class and Type (e.g., a “Eurodollar Term SOFR Revolving Loan ”).

• Borrowings also may be classified and referred to by Class (e.g., a “Revolving Loan Borrowing”) or by Type (e.g., a “EurocurrencyTerm SOFR Borrowing”) or by Class and Type (e.g., a “EurocurrencyTerm SOFR Revolving Loan Borrowing”).

• Each Lender at its option may make any ABR Loan or SOFR Revolving Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option will not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and such Lender will not be entitled to any amounts payable under Section 2.15 or 2.17 solely in respect of increased costs resulting from such exercise and existing at the time of such exercise.

More Definitions of SOFR Revolving Loan

SOFR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate in accordance with the provisions of Article II, other than pursuant to clause (c) of the definition of “ABR.”

SOFR Revolving Loan means any Revolving Loan bearing interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (iii) of the definition of “Alternate Base Rate,” in accordance with the provisions of Article II. “SOFR Term Loan” shall mean any Term Loan bearing interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (iii) of the definition of “Alternate Base Rate,” in accordance with the provisions of Article II. “Solvent” shall mean, (i) the Fair Value of the assets of Borrower and its Subsidiaries taken as a whole exceeds their Liabilities, (ii) the Present Fair Salable Value of the assets of Borrower and its Subsidiaries taken as a whole exceeds their Liabilities; (iii) Borrower and its Subsidiaries taken as a whole do not have Unreasonably Small Capital; and (iv) Borrower and its Subsidiaries taken as a whole will be able to pay their Liabilities as they mature. For purposes hereof, (i) “Fair Value” shall mean the amount at which the assets (both tangible and intangible), in their entirety, of Borrower and its Subsidiaries taken as a whole would change hands between a willing buyer and a willing seller, within a commercially reasonable period of time, each having reasonable knowledge of the relevant facts, with neither being under any compulsion to act, (ii) “Present Fair Salable Value” shall mean the amount that could be obtained by an independent willing seller from an independent willing buyer if the assets of Borrower and its Subsidiaries taken as a whole are sold with reasonable promptness in an arm’s-length transaction under present conditions for the sale of comparable business enterprises insofar as such conditions can be reasonably evaluated, (iii) “Liabilities” shall mean the recorded liabilities (including contingent liabilities that would be recorded in accordance with GAAP) of Borrower and its Subsidiaries taken as a whole, as of the date hereof after giving effect to the consummation of the transactions to occur on the date hereof, determined in accordance with GAAP consistently applied, (iv) “Will be able to pay their Liabilities as they mature” shall mean for the period from the date hereof through the Maturity Date, Borrower and its Subsidiaries taken as a whole will have sufficient assets and cash flow to pay their Liabilities as those liabilities mature or (in the case of contingent Liabilities) otherwise become payable, in light of business conducted or anticipated to be conducted by the Borrower and its Subsidia...

SOFR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to Adjusted Term SOFR, other than pursuant to clause (3) of the definition of “ABR”.

SOFR Revolving Loan means a SOFR Loan that is a Revolver Loan.

SOFR Revolving Loan has the meaning assigned to such term in Section 1.02. “Solvency Certificate” means a certificate from a Financial Officer of Holdings, substantially in the form of Exhibit E.

SOFR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to Adjusted Term SOFR, other than pursuant to clause (3) of the definition of “ABR”. “Specified Event of Default” means any Event of Default under Section 8.01(2), 8.01(3), 8.01(8) or 8.01(9). “Specified Excess Availability” shall mean the sum of (i) Excess Availability and (ii) the amount by which the Borrowing Base at such time exceeds the Revolving Facility Commitments, up to an amount not to exceed 2.5% of Revolving Facility Commitments.