Spread Adjusted Term SOFR means, for any Available Tenor and Interest Period, a rate per annum equal to the sum of (a) the forward-looking term rate for a period comparable to such Available Tenor based on the SOFR that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Administrative Agent in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Interest Period determined by the Administrative Agent in its reasonable discretion in a manner substantially consistent with market practice and (b) (i) 0.11448% (11.448 basis points) for an Available Tenor of one-month’s duration, (ii) 0.26161% (26.161 basis points) for an Available Tenor of three-months’ duration, and (iii) 0.42826% (42.826 basis points) for an Available Tenor of six-months’ duration.
Spread Adjusted Term SOFR means with respect to any applicable Business Day and Interest Period, a rate per annum equal to the sum of (a) Term SOFR for such Interest Period plus (b) the applicable SOFR Spread Adjustment; provided that if Spread Adjusted Term SOFR shall be less than the Floor, Spread Adjusted Term SOFR shall be deemed to be the Floor for purposes of this Credit Agreement.
Spread Adjusted Term SOFR means, for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) (i) [***] for an Available Tenor of one-month’s duration, (ii) [***] for an Available Tenor of three-months’ duration, and (iii) [***] for an Available Tenor of six-months’ duration; provided that if Spread Adjusted Term SOFR as so determined shall ever be less than zero, then Spread Adjusted Term SOFR shall be deemed to be zero.
Examples of Spread Adjusted Term SOFR in a sentence
The appropriate Borrower or Borrowers shall pay interest on the unpaid principal amount of a Term RFR Loan in Dollars outstanding from time to time from the date thereof until paid at Spread Adjusted Term SOFR plus the Applicable Margin for Transitioned RFR Loans.
To the extent that the Agent is required to provide notice to the Borrower, any Lender or any other party to the Credit Agreement of any Benchmark Replacement Conforming Changes in connection with the adoption and implementation of Spread Adjusted SOFR or Spread Adjusted Term SOFR or the use and administration thereof, this Amendment shall constitute such notice.
This thesis was supposed to be only about cross ownership of firms, which was reflected in the title of my research proposal “The consequences of cross-shareholding for ownership structures and economic behavior”.
More Definitions of Spread Adjusted Term SOFR
Spread Adjusted Term SOFR means, for any Interest Period, a rate per annum equal to the sum of (a) the forward-looking term rate based on the SOFR for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) RFR Business Days prior to the first day of such Interest Period, as such rate is published by CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Agent in its reasonable discretion) (the “Term SOFR Administrator”); provided, however, that if as of 5:00 p.m. (Eastern time) on any Periodic Term SOFR Determination Day the SOFR for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to SOFR has not occurred, then this clause (a) will be deemed to refer to SOFR for such tenor as published by the Term SOFR Administrator on the first preceding RFR Business Day for which SOFR for such tenor was published by the Term SOFR Administrator so long as such first preceding RFR Business Day is not more than three (3) RFR Business Days prior to such Periodic Term SOFR Determination Day, plus (b) (i) with respect to an Interest Period of one month, 0.11448% per annum, (ii) with respect to an Interest Period of three months, 0.26161% per annum and (iii) with respect to an Interest Period of six months, 0.42826% per annum.”
Spread Adjusted Term SOFR means, for any Interest Period, a rate per annum equal to the sum of (a) the forward-looking term rate based on SOFR for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) RFR Business Days prior to the first day of such Interest Period, as such rate is published by CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the forward-looking term rate based on SOFR selected by the Agent in its reasonable discretion) (the “Term SOFR Administrator”); provided, however, that if as of 5:00 p.m. (Eastern time) on any Periodic Term SOFR Determination Day the SOFR for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to SOFR has not occurred, then this clause (a) will be deemed to refer to SOFR for such tenor as published by the Term SOFR Administrator on the first preceding RFR Business Day for which SOFR for such tenor was published by the Term SOFR Administrator so long as such first 192068782_9 preceding RFR Business Day is not more than three (3) RFR Business Days prior to such Periodic Term SOFR Determination Day, plus (b) (i) with respect to an Interest Period of one month, 0.11448% per annum, (ii) with respect to an Interest Period of three months, 0.26161% per annum and (iii) with respect to an Interest Period of six months, 0.42826% per annum.
Spread Adjusted Term SOFR means, for any Available Tenor and Interest Period, a rate per annum equal to the sum of (a) the forward-looking term rate for a period comparable to such Available Tenor based on the SOFR that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Agent in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Interest Period determined by the Agent in its reasonable discretion in a manner substantially consistent with market practice and (b) the applicable Benchmark Replacement Adjustment. “Sterling” or “£” means the lawful currency of the United Kingdom.
Spread Adjusted Term SOFR means, for any Available Tenor and (a) in the case of Interest Period,Periods of one month, three months or six months, a rate per annum equal to the sum of (a) the forward-looking term rate for a period comparable to such Available Tenor based on the SOFR that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Administrative Agent in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Interest Period determined by the Administrative Agent in its reasonable discretion in a manner substantially consistent with market practicei) Term SOFR and (bii) (i) 0.114480.10% (11.44810 basis points) for an Available Tenor of one-month’s duration, , and (b) in the case of Interest Periods of one week or two weeks, a rate per annum equal to the sum of (i) Term SOFR, determined based on a one-month Interest Period, and (ii) 0.261610.05% (26.1615 basis points) for an Available Tenor of three-months’ duration, (iii) 0.42826% (42.826 basis points) for an Available Tenor of six-months’ duration and (iv) 0.71513% (71.513 basis points) for an Available Tenor of twelve-months’ duration. “Start Date” shall mean, with respect to any Margin Reduction Period, the first day of such Margin Reduction Period. “Stated Amount” of each Letter of Credit shall mean the maximum amount available to be drawn thereunder (determined without regard to whether any conditions to drawing could then be met) but after giving effect to all previous drawings made thereunder; provided that, except as such term is used in Section 3.02, the “Stated Amount” of each Primary Alternate Currency Letter of Credit shall be, on any date of calculation, the Dollar Equivalent of the maximum amount available to be drawn in the relevant Primary Alternate Currency thereunder (determined without regard to whether any conditions to drawings could then be met) but after giving effect to all previous drawings made thereunder. “Subsidiary” shall mean, as to any Person, (i) any corporation more than 50% of whose stock of any class or classes having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not at the time stock of any class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time owned by such Person and/or one or more Sub...
Spread Adjusted Term SOFR means, for any Available Tenor and Interest Period, a rate per annum equal to (i) 0.11448% (11.448 basis points) for an Available Tenor of one-month’s duration, (ii) 0.26161% (26.161 basis points) for an Available Tenor of three-months’ duration, and (iii) 0.42826% (42.826 basis points) for an Available Tenor of six-months’ duration.
Spread Adjusted Term SOFR means, with respect to any RFR Business Day, a rate per annum equal to the sum of (a) Term SOFR for such RFR Business Day plus (b) 0.10% (10 basis points).
Spread Adjusted Term SOFR means, for any Available Tenor and Interest Period, a rate per annum equal to the sum of (a) the forward-looking term rate for a period comparable to such Available Tenor based on the SOFR that has been selected or recommended by the Relevant Governmental Body and (b) (i) 0.11448% (11.448 basis points) for an Available Tenor of one‑month’s duration, (ii) 0.26161% (26.161 basis points) for an Available Tenor of three‑months’ duration, and (iii) 0.42826% (42.826 basis points) for an Available Tenor of six-months’ duration.