Term RFR Loan definition

Term RFR Loan means a Loan that bears interest based on Term RFR.
Term RFR Loan means any Loan that bears interest at a rate based on Term RFR Rate other than pursuant to clause (c) of the definition ofAlternate Base Rate”.
Term RFR Loan a Loan that bears interest at a rate based on Term RFR. “Term RFR Notice”: a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term RFR Transition Event. “Term RFR Transition Date”: in the case of a Term RFR Transition Event, the date (which shall be at least thirty (30) calendar days after the date of the Term RFR Notice) that is specified in the Term RFR Notice provided by the Administrative Agent to the Lenders and the Borrower pursuant to Section 2.24 hereof. “Term RFR Transition Event”: with respect to any Currency (other than Dollars or Canadian Dollars) for any Interest Period, the determination by the Administrative Agent that (a) the applicable Term RFR for such Currency is determinable for each Available Tenor, (b) the administration of such Term RFR is administratively feasible for the Administrative Agent, (c) the RFR Administrator publishes, publicly announces or makes publicly available that such Term RFR is administered in accordance with the International Organization of Securities Commission’s Principles for Financial Benchmarks, (d) such Term RFR is used as a benchmark rate in at least five currently outstanding syndicated credit facilities denominated in the applicable Currency (and such syndicated credit facilities are identified and are publicly available for review), and (e) such Term RFR is recommended for use by a Relevant Governmental Body. “Term SOFR”: a rate per annum equal to greater of (a) the sum of (i)

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.


More Definitions of Term RFR Loan

Term RFR Loan means a Loan that bears interest at a rate based on Term RFR other than pursuant to clause (c) of the definition ofBase Rate”, as provided for in Section 2.4(a)(iv) hereof.
Term RFR Loan means a Loan that bears interest at a rate based on Term RFR other than pursuant to clause (c) of the definition ofBase Rate”. “Term RFR Notice” means a notification by the Administrative Agent to the Lenders and the Company of the occurrence of a Term RFR TransitionEvent.
Term RFR Loan means a Loan that bears interest at a rate based on Term RFR other than pursuant to clause (iii) of the definition ofBase Rate”. “Term RFR Notice” shall mean a notification by the Administrative Agent to the Lenders and the Borrowers of the occurrence of a Term RFR Transition Event. “Term RFR Transition Date” shall mean, in the case of a Term RFR Transition Event, the date that is thirty (30) calendar days after the Administrative Agent has provided the related Term RFR Notice to the Lenders and the Borrowers pursuant to Section 2.10(h)(i)(C). “Term RFR Transition Event” shall mean, with respect to any Currency for any Interest Period, the determination by the Administrative Agent that (a) the applicable Term RFR for such Currency has been recommended for use by the Relevant Governmental Body and (b) the administration of such Term RFR is administratively feasible for the Administrative Agent. “Term Loan Scheduled Repayment” shall have the meaning provided in Section 5.02(e). “Term SOFR” shall mean 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) RFR Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (Eastern 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 RFR 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 RFR Business Day is not more than three (3) RFR Business Days prior to such Periodic Term SOFR Determination Day; provided, further, that if Term SOFR determined as provided above (including pursuant to the proviso above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor. “Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion). 57 150546217_8170136845_8
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 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 Borrowers of the occurrence of a Term RFR Transition Event. “Term RFR Option” means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i)(C). “Term RFR Transition Date” means, in the case of a Term RFR Transition Event, the date that is set forth in the Term RFR Notice provided to the Lenders and the Borrowers pursuant to Section 2.14(d) which date shall be at least 30 (thirty) calendar days from the date of the Term RFR Notice. “Term RFR Transition Event” means, with respect to Euros for any Interest Period, the determination by the Administrative Agent that (a) the applicable Term RFR for such Currency is determinable for each Available Tenor, (b) the administration of such Term RFR is administratively feasible for the Administrative Agent, (c) the RFR Administrator publishes, publicly announces or makes publicly available that such Term RFR is administered in accordance with the IOSCO Principles, (d) such Term RFR is used as a benchmark rate in at least five currently outstanding syndicated credit facilities denominated in the applicable Currency (and such syndicated credit facilities are identified and are publicly available for review), and (e) such Term RFR is recommended for use by a Relevant Governmental Body. “Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).
Term RFR Loan means any Loan that bears interest at a rate based on Term RFR other than pursuant to clause (c) of the definition ofBase Rate”. “Term RFR Notice” means a notification by the Administrative Agent to the Lenders and the Parent Borrower of the occurrence of a Term RFR Transition Event. “Term RFR Transition Date” means, in the case of a Term RFR Transition Event, the date that is thirty (30) calendar days after the Administrative Agent has provided the related Term RFR Notice to the Lenders and the Parent Borrower pursuant to Section 2.13(c)(i)(3). “Term RFR Transition Event” means, with respect to any Currency for any Interest Period, the determination by the Administrative Agent that (a) the applicable Term RFR for such Currency has been recommended for use by the Relevant Governmental Body and (b) the administration of such Term RFR is administratively feasible for the Administrative Agent.

Related to Term RFR Loan

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Tranche B Term Loan as defined in Section 2.1.

  • Revolving Loan means a Loan made pursuant to Section 2.01.