Term Benchmark Rate definition

Term Benchmark Rate means, for any Interest Period:

Term Benchmark Rate means, for any day, a rate per annum equal to the sum of (a) the Applicable Margin plus (b) the Adjusted Term SOFR Rate.

Term Benchmark Rate means, for any Interest Period (a) for each Term Benchmark Loan constituting part of the same Borrowing denominated in dollars, Adjusted Term SOFR; and (b) for each Term Benchmark Loan constituting part of the same Borrowing denominated in euros, the EURIBO Rate.

Examples of Term Benchmark Rate in a sentence

• Each Bank may require each Borrower to pay, contemporaneously with each payment of interest on Term Benchmark Loans made to such Borrower, additional interest on the relevant Term Benchmark Loan of such Bank to such Borrower at a rate per annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable Term Benchmark Rate divided by (B) one minus the Eurocurrency Reserve Percentage over (ii) the applicable Term Benchmark Rate.

• Each Borrowing of, conversion to or continuation of Term Benchmark Rate Loans or RFR Loans shall be (i) in a principal amount of $1,000,000, or (ii) a whole multiple of $100,000 in excess thereof.

• If a Borrower requests a Borrowing of, conversion to, or continuation of Term Benchmark Rate Loans or RFR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

• Thereafter, (x) the obligation of the Lenders to make or maintain Term Benchmark Rate Loans or RFR Loans in the affected currency or currencies shall be suspended and (y) in the event of a determination described in the preceding sentence with respect to the Term SOFR Rate component of the Base Rate, the utilization of the Term SOFR Rate component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice.

• Any prepayment of a Term Benchmark Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 2.05(a)(iii).

More Definitions of Term Benchmark Rate

Term Benchmark Rate means the Adjusted Term SOFR.

Term Benchmark Rate means, with respect to (A) any Term Benchmark Borrowing denominated in Dollars for any applicable Interest Period, Term SOFR for such Interest Period, (B) any Term Benchmark Borrowing denominated in Euros for any applicable Interest Period, the EURIBOR Screen Rate as of the Specified Time on the Quotation Day for such Interest Period, (C) any Term Benchmark Borrowing denominated in Canadian Dollars for any applicable Interest Period, Term XXXXX for such Interest Period, and (D) any Term Benchmark Borrowing denominated in any other Foreign Currency and for any applicable Interest Period, the applicable Local Rate as of the Specified Time and on the Quotation Day for such Foreign Currency and Interest Period. If the applicable Screen Rate shall not be available for such Interest Period at the applicable time (the “Impacted Interest Period”), then the Term Benchmark Rate for such Interest Period for such Term Benchmark Borrowing shall be the Interpolated Rate at such time, subject to Section 2.12; provided, that if the applicable Screen Rate shall not be available with respect to any Term Benchmark Borrowing for any other reason, then the rate determined in accordance with Section 2.12 shall be the Term Benchmark Rate for such Term Benchmark Borrowing; provided, further that, if the Term Benchmark Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

Term Benchmark Rate. (i) with respect to any Loan denominated in Dollars, the Adjusted Term SOFR Rate and (ii) with respect to any Loan denominated in Euros, the Adjusted EURIBO Rate.

Term Benchmark Rate means, for the Interest Period for any Term Benchmark Loan, the rate of interest per annum determined pursuant to the following formula: Term Benchmark Rate = Adjusted Term SOFR Rate + Applicable Term Benchmark Margin

Term Benchmark Rate. (a) when used in reference to any Revolving Loan or Revolving Borrowing, refers to whether such Revolving Loan, or the Revolving Loans comprising such Revolving Borrowing, are bearing interest at a rate (other than the Alternate Base Rate) determined by reference to Adjusted Term SOFR, and (b) when used in reference to any other 67

Term Benchmark Rate. (a) when used in reference to any Revolving Loan or Revolving Borrowing, refers to whether such Revolving Loan, or the Revolving Loans comprising such Revolving Borrowing, are bearing interest at a rate (other than the Alternate Base Rate) determined by reference to Adjusted Term SOFR, and (b) when used in reference to any other Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate (other than the Alternate Base Rate) determined by reference to the Adjusted LIBO Rate.

Term Benchmark Rate has the meaning set forth in Section 2.06(c).