Term Rate Loan Option definition

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).

Term Rate Loan Option means the option of the Borrower to have Loans bear interest at a rate based on the Term SOFR Rate or Term RFR for the relevant Currency and under the terms specified for Term SOFR Rate Loans or Term RFR Loans denominated in such Currency, as applicable, in Section 2.08.

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1.1(ii) [Revolving Credit Term Rate Loan Option]."

Examples of Term Rate Loan Option in a sentence

• If the Borrower fails to select a new Tranche Period to apply to any Borrowing Tranche of Loans under any Term Rate Loan Option at the expiration of an existing Tranche Period applicable to such Borrowing Tranche in accordance with the provisions of Section 2.07, the Borrower shall be deemed to have converted such Borrowing Tranche to the SOFR Rate Option with a Tranche Period of one (1) month commencing upon the last day of the existing Tranche Period.

• In the case of the renewal of a Term Rate Loan Option at the end of a Tranche Period, the first day of the new Tranche Period shall be the last day of the preceding Tranche Period, without duplication in payment of interest for such day.

• At any time when the Borrower shall select, convert to or renew a Term Rate Loan Option, the Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such Term Rate Loan Option by delivering a Loan Request.

More Definitions of Term Rate Loan Option

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i) [Revolving Credit Loan Term Rate Loan Option] or Section 4.1(c)(i) [Term Loan and Delayed Draw Term Loans Term Rate Loan Option], as applicable.

Term Rate Loan Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i). “Term RFR” means, with respect to Euros for any Interest Period, a rate per annum determined by the Administrative Agent, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to any applicable Term RFR Forward Looking Rate by dividing (the resulting quotient rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) (a) the applicable Term RFR Forward Looking Rate by (b) a number equal to 1.00 minus the RFR Reserve Percentage; provided that if the adjusted rate as determined above would be less than the Floor, such rate shall be deemed to be the Floor for purposes of this Agreement. The adjusted Term RFR for each outstanding Term RFR Loan shall be adjusted automatically as of the effective date of any change in the RFR Reserve Percentage. The Administrative Agent shall give prompt notice to the Borrower of the adjusted Term RFR rate as determined or adjusted in accordance herewith, which determination shall be conclusive absent manifest error. “Term RFR Forward Looking Rate” means, with respect to Euros for any Interest Period, the forward-looking term rate for a period comparable to such Interest Period based on the RFR for such Currency that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Administrative Agent in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Interest Period determined by the Administrative. “Term RFR Loan” means a Loan that bears interest based on Term RFR. “Term RFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term RFR Transition Event.

Term Rate Loan Option means a Loan that bears interest at a rate based on the Term SOFR Rate or Term RFR Rate. Term RFR means, for any Term RFR Borrowing for any Interest Period, a rate per annum determined by the Administrative Agent (rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) equal to, for any Obligations, interest, fees, commissions, or other amounts denominated in, or calculated with respect to:

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2(vi)(B).sto

Term Rate Loan Option means the Term SOFR Rate Option or the Eurocurrency Rate Option, as applicable.