Examples of Term RFR Loan in a sentence
So long as no Event of Default exists, the Borrower may on any Business Day, with respect to any Eurocurrency Rate Loan or a Term RFR Loan, elect to maintain such Loan or any portion thereof as a Eurocurrency Rate Loan or Term RFR Loan, as applicable, by selecting a new Interest Period for such Loan.
The appropriate Borrower or Borrowers shall pay interest on the unpaid principal amount of a Term RFR Loan in Dollars outstanding from time to time from the date thereof until paid at Spread Adjusted Term SOFR plus the Applicable Margin for Transitioned RFR Loans.
Subject to the restrictions specified above, each Notice of Conversion shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Conversion specifying (a) the requested date of such Conversion, (b) the Type and Class of Loan to be Converted, (c) the portion of such Type of Loan to be Converted, (d) the Type of Loan such Loan is to be Converted into and (e) if such Conversion is into a Term RFR Loan, the requested duration of the Interest Period of such Loan.
No later than 2:00 p.m. (New York time) at least two (2) Business Days prior to the termination of each Interest Period related to a Eurocurrency Rate Loan or a Term RFR Loan, the applicable Borrower(s) shall give the Administrative Agent irrevocable written notice (which notice may be via fax, electronic mail, or by telephone, if confirmed in writing promptly thereafter) (a “Rollover Notice”) whether it desires to Rollover such Loan at a different Interest Period.
No LIBOREurocurrency Rate Loan or Term RFR Loan may be converted into or continued as a LIBOREurocurrency Rate Loan or a Term RFR Loan denominated in a different currency, but instead must be prepaid in the original currency of such LIBOREurocurrency Rate Loan or a Term RFR Loan and reborrowed in the other currency.
Prepayments of Base Rate Loans, Eurocurrency Rate Loans and Term RFR Loans shall be without any premium or penalty; provided that if a prepayment of a Eurocurrency Rate Loan or Term RFR Loan is made on a day that is not the last day of an Interest Period applicable thereto, the Borrower shall pay all premiums, penalties, breakage costs and other fees and expenses related thereto.
The Borrowers may not prepay any Eurocurrency Rate Loan or Term RFR Loan on any day other than on the last day of the Interest Period applicable thereto, or any Daily Simple RFR Loan on any day other than an Interest Payment Date therefor, unless, subject to the terms of Section 5.02(k)(ii), such prepayment is accompanied by any amount required to be paid pursuant to Section 2.11 hereof.
The Borrower may not repay any Eurodollar Loan, any Term RFR Loan, any Eurocurrency Loan or any Competitive Bid Loan on any day other than on the last day of the Interest Period or Competitive Bid Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 2.18 hereof.
If the applicable Borrower requests a conversion to, or continuation of, a Eurocurrency Rate Loan or a Term RFR Loan, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
So long as no Event of Default exists, the Borrower may on any Business Day, with respect to any LIBOR Loan or Foreign CurrencyEurocurrency Rate Loan or a Term RFR Loan, elect to maintain such Loan or any portion thereof as a LIBOR Loan or Foreign CurrencyEurocurrency Rate Loan or Term RFR Loan, as applicable, by selecting a new Interest Period for such Loan.