Term Benchmark Advance definition

Term Benchmark Advance means an Advance which bears interest based on the Adjusted Term SOFR Rate.

Term Benchmark Advance means an Advance that bears interest as provided in Section ‎3.06(b).

Term Benchmark Advance when used in reference to any Loan or Advance, refers to whether such Loan, or the Loans comprising such Advance, are bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate.

Examples of Term Benchmark Advance in a sentence

• The Administrative Agent will notify each Lender of the interest rate applicable to each Term Benchmark Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

• Interest accrued on each Term Benchmark Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Term Benchmark Advance is repaid, whether by acceleration or otherwise, and at maturity.

• If such Advance is a Term Benchmark Advance, a rate per annum equal at all times during the Interest Period for such Advance to the Adjusted Term SOFR Rate for such Interest Period plus the Applicable Margin in effect from time to time, payable on the last day of such Interest Period and, in the case of any Interest Period longer than three months in duration, on the third monthly anniversary of the beginning of such Interest Period as well as the last day of such Interest Period.

• Subject to the terms hereof, the Company may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advance (subject to, in the case of conversion of any Term Benchmark Advance other than on the last day of the Interest Period applicable thereto, payment of any amounts payable under Section 3.3 in connection therewith).

• The Borrower Representative shall select the Type of Advance and, in the case of each Term Benchmark Advance, the Interest Period applicable thereto, from time to time.

More Definitions of Term Benchmark Advance

Term Benchmark Advance means any Advance bearing interest at a rate determined by reference to the Term SOFR Rate.

Term Benchmark Advance means an Advance denominated in Dollars that bears interest as provided in Section 2.07(a)(ii).

Term Benchmark Advance means, with respect to any Advance, such Advance during Interest Periods when such Advance bears or is to bear interest at a rate based upon the Term Benchmark Rate. A Term Benchmark Advance is a Tranche Term Benchmark Advance if such Term Benchmark Advance has an Interest Period described in subsection (i) of the definition of Interest Period. A Term Benchmark Advance is an Index Term Benchmark Advance if such Term Benchmark Advance has an Interest Period described in subsection (ii) of the definition of Interest Period.

Term Benchmark Advance means an Advance consisting of Term Benchmark Loans.

Term Benchmark Advance means any Term SOFR Advance and any Eurocurrency Rate Advance. “Term Benchmark Borrowing” means any Term SOFR Borrowing and any Eurocurrency Rate Borrowing.

Term Benchmark Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Term Benchmark.

Term Benchmark Advance means each portion of the Loans that bears interest as provided in Section 4.01(b).