Term Benchmark Advance definition

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

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.

Examples of Term Benchmark Advance in a sentence

• Each Term Benchmark Advance shall continue as a Term Benchmark Advance until the end of the then applicable Interest Period therefor, at which time such Term Benchmark Advance shall be automatically converted into a Floating Rate Advance, unless the Company shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Interest Period, such Term Benchmark Advance continue as a Term Benchmark Advance for the same or another 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).

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• Upon the Company’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Company may revoke any request for a conversion to or continuation of Term Benchmark Loans during any Benchmark Unavailability Period and, failing that, either the Company will be deemed to have converted any request for a continuation of a Term Benchmark Advance denominated in Dollars into a request for a conversion to a Floating Rate Advance.

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More Definitions of Term Benchmark Advance

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.

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 which bears interest based on the Adjusted Term SOFR Rate.

Term Benchmark Advance means an Advance which bears interest at the Adjusted Term SOFR Rate, other than pursuant to clause (iii) of the definition of Alternate Base Rate with respect to Term SOFR.

Term Benchmark Advance means an Advance which, except as otherwise provided in Section 2.10, bears interest at the applicable Adjusted Term SOFR Rate.

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

Term Benchmark Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Term Benchmark. “Term SOFR” means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body Determination Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate. “Term SOFR Rate” means, with respect to any Term Benchmark Advance and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator. “Term SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any Term Benchmark Advance and for any tenor comparable to the applicable Interest Period, the rate per annum published by the CME Term SOFR Administrator and identified by the Administrative Agent as the forward-looking term rate based on SOFR. If by 5:00 pm (New York City time) on such Term SOFR Determination Day, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then, so long as such day is otherwise a U.S. Government Securities Business Day, the Term SOFR Reference Rate for such Term SOFR Determination Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate was published by the CME Term SOFR Administrator, so long as such first preceding U.S. Government Securities Business Day is not more than five (5) U.S. Government Securities Business Days prior to such Term SOFR Determination Day. "Type" means, with respect to any Advance, its nature as a Floating Rate Advance or a Eurodollar Advance. “Type”, when used in reference to any Loan or Advance, refers to whether the rate of interest on such Loan, or on the Loans comprising such Advance, is determined by reference to the Adjusted Term SOFR Rate, the Adjusted Daily Simple SOFR or the Alternate Base Rate. “U.S.” or “United States” means the United States of America. "“U.S. Person"” means a "“United States person"” within the meaning of Section 7701(a)(30) of the Code. “U.S. Government Securities Busin...