Term SOFR Advance definition

Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

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Term SOFR Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars which bears interest as provided in Section 2.07(b).

Term SOFR Advance means an Advance that bears interest as provided in Section 2.04(a)(ii).

Examples of Term SOFR Advance in a sentence

• During such periods as such Revolving Credit Advance is a Term SOFR Advance, a rate per annum equal at all times during each Interest Period for such Revolving Credit Advance to the sum of (x) Adjusted Term SOFR for such Interest Period for such Revolving Credit Advance plus (y) the Applicable Interest Rate Margin payable in arrears on the last day of such Interest Period.

• Each Revolving Credit Borrowing shall be made on notice, given not later than 11:00 A.M. (London time) (x) on the third Business Day prior to the date of the proposed Revolving Credit Borrowing consisting of a EURIBOR Advance or (y) on the third U.S. Government Securities Business Day prior to the date of the proposed Revolving Credit Borrowing consisting of a Term SOFR Advance, by the Borrower to the Facility Agent which shall give to each Lender prompt notice thereof by email.

More Definitions of Term SOFR Advance

Term SOFR Advance means an Advance that, except as otherwise provided in Section 2.11, bears interest at the applicable Term SOFR Rate.

Term SOFR Advance means an Advance that, except as otherwise provided in Section 2.11, bears interest at the applicable Adjusted Term SOFR Screen Rate (other than pursuant to clause (d) of the definition of Alternate Base Rate) plus the Applicable Margin therefor.

Term SOFR Advance means an Advance consisting of Term SOFR Loans. For the avoidance of doubt, the term “Term SOFR Advance” includes a Term SOFR Ratable Advance or a Term SOFR Bid Rate Advance.

Term SOFR Advance means, at any time, the part of the Advances with respect to which the Borrower has chosen to pay interest on the Term SOFR Basis.

Term SOFR Advance a portion of the Revolving Credit Loans selected by the Borrower to bear interest during a Term SOFR Interest Period selected by the Borrower at a rate based upon Term SOFR, all pursuant to and in accordance with Section 2.1 or Section 3.3.

Term SOFR Advance means an Advance which the Borrower requests to be made as, Continued as or Converted to a Term SOFR Advance in accordance with the provisions of Section 2.2, and which shall be in a principal amount of at least $1,000,000 and in an integral multiple of $1,000,000.

Term SOFR Advance has the meaning set forth in Section 1.02 of the Series 2022-1 Class A-1 Note Purchase Agreement.