SOFR Term Loan definition

SOFR Term Loan means a Term Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “ABR”.

SOFR Term Loan means any Term Loan that is a SOFR Loan.

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

Examples of SOFR Term Loan in a sentence

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

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

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

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

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

• Interest on each Term SOFR Term Loan shall be payable on each Interest Payment Date applicable thereto.

• Thereafter, the Company may elect to convert such Term Loan Borrowing to a different Type or to continue such Term Loan Borrowing and, in the case of a Term SOFR Term Loan, may elect Interest Periods, therefor, all as provided in this Section 2.06.

• If no Interest Period is specified in any such notice with respect to any conversion to or continuation as a LIBOR Term SOFR Term Loan, as a Term SOFR Revolving Credit Loan or as aan Alternative Currency Term Rate Revolving Credit Loan, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

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

• Whenever any payment to be made hereunder shall be due on a day which is not a Business Day, then such payment shall be made on the next succeeding Business Day (unless, with respect to a payment relating to a Term SOFR Term Loan, such day would fall in another calendar month, in which event payment shall be made on the next preceding Business Day).

More Definitions of SOFR Term Loan

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

SOFR Term Loan means any Term 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 Term Loan means 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 Subsidiaries as reflected in the projected financial statements and in light of the anticipated credit capacity, and (v) “Do not have Unreasonably Small Capital” shall mean Borrower and its subsidiaries taken as a whole after consummation o...

SOFR Term Loan means a Term Loan that bears interest at a rate as provided in Section 2.06(b).

SOFR Term Loan any portion of the Term Loan that bears interest based on SOFR.