Term Benchmark Loan definition

Term Benchmark Loan means a Loan that bears interest at a rate based on the Adjusted Term SOFR Rate.

Term Benchmark Loan means a Loan that bears interest at a rate based upon the applicable Term Benchmark.

Term Benchmark Loan means monies lent by the Lenders to the Borrower hereunder and upon which interest accrues at a rate referable to the Adjusted Term SOFR Rate.

Examples of Term Benchmark Loan in a sentence

• If any payment on a Term Benchmark Loan becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.

• Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Term Benchmark Loan or RFR Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Loan or Letter of Credit is denominated in a Foreign Currency, such amount shall be the relevant Foreign Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Foreign Currency).

• Each Lender at its option may make any Term Benchmark Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

• The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each Term Benchmark Loan, shall be subject to indemnification by the Borrower pursuant to the provisions of Section 2.16 if the deemed payment occurs other than on the last day of the related Interest Periods.

• Each Term Benchmark Loan shall be denominated in an Agreed Foreign Currency (other than GBP) or Dollars.

More Definitions of Term Benchmark Loan

Term Benchmark Loan means any Term Benchmark Term Loan or Term Benchmark Revolving Loan.

Term Benchmark Loan means a Committed Loan or Competitive Loan that bears interest at the Adjusted Term SOFR Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election, provided, however, that this definition does not include any Loan bearing interest pursuant to clause (c) of the definition of “Alternate Base Rate”.

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

Term Benchmark Loan means a Term Benchmark Tranche A Loan or a Term Benchmark Tranche B Loan.

Term Benchmark Loan means any portion of the Revolving Loans that Borrower elects (pursuant to Section 2.4) to bear interest at a rate determined by reference to the Adjusted Term SOFR Rate (other than pursuant to the definition of Base Rate).

Term Benchmark Loan means a Revolving Loan bearing interest prior to maturity at the rate specified in Section 2.6(b).

Term Benchmark Loan means any Revolving Loan, denominated in either Dollars or Euro, bearing interest at a rate determined by reference to Adjusted Term SOFR or the EURIBO Rate, as applicable (other than pursuant to clause (c) of the definition of “Alternate Base Rate”), in accordance with the provisions of Article II.