Term Benchmark Term Loan means each Term Loan which bears interest at a rate based on the Adjusted Term SOFR Rate.
Term Benchmark Term Loan any Incremental Term Loan, New Term Loan or New Term III Loan bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate.
Term Benchmark Term Loan any Term Loan, New Term Loan or New Term III Loan bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate. “Term Commitment”: as to any Lender, the obligation of such Lender, if any, to make a Term Loan to the Borrower in a principal amount not to exceed the amount set forth under the heading “Term Commitment” opposite such Xxxxxx’s name on Schedule 1.1A hereto (as amended and restated on the Eighth Amendment Effective Date). The original aggregate amount of the Term Commitments is $144,800,000. 32 “Term Facility”: the Term Commitments and the Term Loans made thereunder. “Term Lender”: each Lender that has a Term Commitment or that holds a Term Loan. “Term Loan”: as defined in Section 2.1A. “Term Percentage”: as to any Term Lender at any time, the percentage which such Xxxxxx’s Term Commitment then constitutes of the aggregate Term Commitments (or, at any time after the Amendment and Restatement Effective Date, the percentage which the aggregate principal amount of such Lender’s Term Loans then outstanding constitutes of the aggregate principal amount of the Term Loans then outstanding). “Term SOFR Determination Day”: the meaning assigned to it under the definition of Term SOFR Reference Rate. “Term SOFR Rate”: with respect to any Term Benchmark Borrowing 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”: for any day and time (such day, the “Term SOFR Determination Day”), with respect to any Term Benchmark Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period, the rate per annum determined 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 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...
Examples of Term Benchmark Term Loan in a sentence
Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of eight (8) Term Benchmark Revolving Borrowings and eight (8) Term Benchmark Term Loan Borrowings outstanding.
The Applicable Margin with respect to the 2024 Incremental Term Loans shall be, for any day, 1.75% per annum in the case of any Term Benchmark Term Loan and 0.75% per annum in the case of any ABR Term Loan.
Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of (x) ten (10) Term Benchmark Revolving Borrowings or RFR Borrowings or (y) five (5) Term Benchmark Term Loan Borrowings outstanding.
Furthermore, if any Term Benchmark Term Loan or RFR Term Loan is outstanding on the date of the Borrower’s receipt of the notice from the Administrative Agent referred to in this Section 2.14(a) with respect to a Relevant Rate applicable to such Term Benchmark Term Loan or RFR Term Loan, then until (x) the Administrative Agent notifies the Borrower and the Lenders that if the circumstances giving rise to such notice affect only one Type of Borrowings, then all other Types of Borrowings shall be permitted.
More Definitions of Term Benchmark Term Loan
Term Benchmark Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate in accordance with the provisions of Article II. “Term Borrowing” shall mean any Borrowing of Term Loans of the same Class. “Term Facility” shall mean the Term Loan Commitments and the Term Loans made hereunder. “Term Facility Commitment” shall mean the commitment of a Lender to make Term Loans, including Term Loans and/or Other Term Loans. “Term Facility Maturity Date” shall mean, as the context may require, (a) with respect to the 2021 Term Loans, the 2021 Term Facility Maturity Date, and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement. “Term Lender” shall mean any Lender that has a Term Facility Commitment or that holds a Term Loan. “Term Loan Commitment” shall mean, with respect to each Lender, the commitment of such Lender to make Term Loans hereunder. The amount of each Lender’s Term Loan Commitment as of the First Amendment Effective Date is set forth on Schedule 2.01. The aggregate amount of the Term Loan Commitments as of the First Amendment Effective Date is $500,000,000. “Term Loan Installment Date” shall have the meaning assigned to such term in Section 2.10(a)(i). “Term Loans” shall mean (a) from and after the First Amendment Effective Date, the term loans made by the Lenders to the Borrower pursuant to Section 2.01(b) and (b) any Incremental Term Loans in the form of Term Loans made by the Incremental Term Lenders to the Borrower pursuant to Section 2.01(d). “Term SOFR Adjustment” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that (a) has been selected or recommended by the Relevant Governmental Body or (b) has been agreed between the Administrative Agent (in its sole discretion) and the Borrower as such rate. a percentage per annum equal to the following percentage set forth next to the applicable Interest Period: Six months 0.42826% One month