SONIA Loan definition

SONIA Loan means a Loan denominated in Pounds Sterling that bears interest at a rate based on Daily Simple SONIA.
Sample 1Sample 2
SONIA Loan means a Loan that bears interest at a rate based on Daily Simple SONIA.
Sample 1Sample 2
SONIA Loan means a Loan that bears interest at a rate based on Daily Simple SONIA. “SONIA Rate Day” has the meaning specified in the definition of “Daily Simple SONIA”.
Sample 1

Examples of SONIA Loan in a sentence

  • Any prepayment of a Eurocurrency Rate Loan, a SONIA Loan or a SOFR Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.

  • Pending a formal LIBOR to SONIA Loan Amendment with respect to a LIBOR-Linked Loan then in accordance with the FCA announcement of 16 November 2021, synthetic LIBOR for three-month sterling deposits will continue to apply to the relevant Loan.

  • If a Borrower agrees to the LIBOR to SONIA Loan Amendments, the new three-month Term SONIA rate will apply from the relevant Borrower’s first quarterly interest review date after 1 January 2022.

  • Lookback with observation shift was recognised in the Recommendations for SONIA Loan Market Conventions issued by the Working Group on Sterling Risk-Free Reference Rates ("£RFR WG") on 1 September 2020 as a viable and robust alternative to lookback without an observation shift.


More Definitions of SONIA Loan

SONIA Loan means a Loan denominated in Sterling that bears interest at a rate based on Adjusted Daily Simple SONIA.
Sample 1
SONIA Loan means a Loan that bears interest at a rate determined by reference to the Daily Simple SONIA. “SONIA Rate Day” shall have the meaning provided in the definition of the term “Daily Simple SONIA”. “SONIA Reference Day” shall have the meaning provided in the definition of the term “Daily Simple SONIA”.
Sample 1
SONIA Loan means a Loan that bears interest based on the SONIA Rate. All SONIA Loans are denominated in British Pounds Sterling. “SONIA Rate” means the rate per annum equal to SONIA determined pursuant to the definition thereof plus the SONIA Adjustment.
Sample 1
SONIA Loan means any Revolving Loan which bears interest at a rate determined by reference to the SONIA Rate. SONIA Loans may be denominated only in
Sample 1

Related to SONIA Loan

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

  • Term Loan has the meaning specified in Section 2.01(b).

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Base Rate Loan means a Loan bearing interest at a rate determined by reference to the Base Rate.