Term Benchmark Tranche definition

Term Benchmark Tranche the collective reference to Term Benchmark Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).
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Term Benchmark Tranche means the collective reference to Term Benchmark Loans under the Facility, the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day) (it being understood that any such group of Term Benchmark Loans that constitutes one Term Benchmark Tranche pursuant to the foregoing shall be amalgamated and deemed to be one Term Benchmark Loan for all purposes of this Agreement).
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Term Benchmark Tranche means the collective reference to Term Benchmark Loans under the Revolving Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).
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Examples of Term Benchmark Tranche in a sentence

  • All borrowings, prepayments, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each Term Benchmark Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

  • Notwithstanding anything to the contrary in this Agreement, all Borrowings, conversions and continuations of Term Benchmark Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Term Benchmark Loans comprising each Term Benchmark Tranche shall be equal to the Applicable Minimum Amount.

  • The LIBOTerm SOFR Rate and EURIBOR Rate applicable to any Term Benchmark Loan borrowed pursuant to the preceding sentence shall equal the LIBOTerm SOFR Rate and EURIBOR Rate then applicable to the Term Benchmark Loans of the other Revolving Credit Lenders in the same Term Benchmark Tranche (or, until the expiration of the then-current Interest Period, such other rate as shall be agreed upon between the Parent Borrower and the relevant Revolving Credit Lender).

  • The Company provides Lending-as-a-Service (“LaaS”) software products and services to banks, credit unions, and alternative lenders, enabling them to offer online loans and lines of credit to their small business customers.

  • If in the opinion of the Company or any relevant Authority the Mooring Apparatus or location is unsuitable for the mooring of the alternate Vessel the Company will notify the Owner and it is the responsibility of the Owner to make arrangements with the Company and the relevant Authority in relation to the relocation, modification to or replacement of the Mooring Apparatus.

  • The Adjusted Term SOFR Rate applicable to any Term Benchmark Loan borrowed pursuant to the preceding sentence shall equal the Adjusted Term SOFR Rate then applicable to the Term Benchmark Loans of the other Lenders in the same Term Benchmark Tranche (or, until the expiration of the then-current Interest Period, such other rate as shall be agreed upon between the Borrower and the relevant Lender).

  • All borrowings, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each Term Benchmark Tranche shall be equal to a Dollar Amount (determined as of the most recent Revaluation Date) of at least $5,000,000 and, solely with respect to Loans denominated in Dollars, in a whole multiple of $1,000,000.

  • The LIBO Rate and EURIBOR Rate applicable to any Term Benchmark Loan borrowed pursuant to the preceding sentence shall equal the LIBO Rate and EURIBOR Rate then applicable to the Term Benchmark Loans of the other Revolving Credit Lenders in the same Term Benchmark Tranche (or, until the expiration of the then-current Interest Period, such other rate as shall be agreed upon between the Parent Borrower and the relevant Revolving Credit Lender).

  • The Term BenchmarkRelevant Rate applicable to any Term Benchmark Loan borrowed pursuant to the preceding sentence shall equal the Term BenchmarkRelevant Rate then applicable to the Term Benchmark Loans of the other Lenders in the same Term Benchmark Tranche (or, until the expiration of the then-current Interest Period, such other rate as shall be agreed upon between the Parent Borrower and the relevant Lender).


More Definitions of Term Benchmark Tranche

Term Benchmark Tranche the collective reference to Term Benchmark Loans
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Term Benchmark Tranche when used in the collective reference to Loans having a Term Benchmark, the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). “Term Loan Amount”: the aggregate principal amount of Loans (as defined in the Term Credit Agreement (as in effect on the Effective Date)) then outstanding under the Term Loan Credit Agreement. “Term Loan Credit Agreement”: that certain Term Loan Credit Agreement, dated as of October 28, 2022, among the REIT, the Borrower, the several banks and other financial institutions or entities from time to time part thereto, Regions Capital Markets and Capital One, National Association, as joint lead arrangers, Capital One, National Association, as syndication agent, and Regions Bank, as administrative agent, as the same may be amended, restated, supplemented or modified from time to time. “Term Loan Documents”: means Loan Documents (as defined in the Term Loan Credit Agreement (as in effect on the Effective Date)). “Term Loan Obligations”: means Obligations (as defined in the Term Loan Credit Agreement (as in effect on the Effective Date)). “Term SOFR”: (a) for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator, plus the Applicable SOFR Adjustment; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and (b) for any calculation with respect to a Base Rate Loan on any day, the Term SOFR Refe...
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Term Benchmark Tranche the collective reference to Term Benchmark Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). “Term Lenders” means the collective reference to the Initial Term Lenders, the Incremental Term Lenders and the Refinancing Term Lenders. “Term Loan Refinancing Indebtedness” has the meaning set forth in Section 7.2(a). “Term Loans” means the collective reference to the Initial Term Loans, the Incremental Term Loans and the Refinancing Term Loans. “Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body. “Term SOFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event. Determination Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate. “Term SOFR Transition Event” means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable (and, for the avoidance of doubt, not in the case of an Other Benchmark Rate Election), has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.16 that is not Term SOFR.Rate” means 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” means 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 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”...
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Term Benchmark Tranche when used in the collective reference to Loans having a Term Benchmark, the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). “Term Loan Note”: as defined in Section 2.5(e). “Term Loan Termination Date”: October 28, 2025, as such date may be extended pursuant to Section 2.6. “Term SOFR”: (a) for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR
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Related to Term Benchmark Tranche

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Eurocurrency Tranche the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B 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.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Term B Loan Maturity Date means December 7, 2023.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Extended Tranche has the meaning specified in Section 2.19(a).

  • Tranche the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Extending Revolving Lender shall have the meaning given to such term in Section 2.22(a)(iii).

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • Extending Revolving Credit Lender has the meaning set forth in Section 2.16(c).

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Term Facility means, at any time, (a) on or prior to the Closing Date, the aggregate amount of the Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time.

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • Existing Revolving Loans has the meaning specified in Section 2.16(a).

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • Term B Maturity Date means January 31, 2025.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Existing Revolving Commitments has the meaning specified in Section 2.17(b).

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).