Term SOFR Basis definition

Term SOFR Basis means the basis of calculation of interest on Term SOFR Advances, or any part thereof, made in accordance with the provisions of Sections 5.3 and 5.4.
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Term SOFR Basis means a simple per annum interest rate equal to the sum of (a) Adjusted Term SOFR, plus (b) the Applicable Margin. The Term SOFR Basis shall apply to Interest Periods of one (1), three (3), and six (6) months and, once determined, shall remain unchanged during the applicable Interest Period, except for changes to reflect adjustments in the Applicable Margin as adjusted pursuant to Section 2.3(f). The Term SOFR Basis for any Term SOFR Advance shall be adjusted as of the effective date of any change in the Applicable Margin.
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Term SOFR Basis means a simple per annum interest rate equal to (a) with respect to Term F Loans, the sum of (ai) Term SOFR, plus (ii) the Applicable Margin and (b) in all other cases, the sum of (i) Adjusted Term SOFR, plus (bii) the Applicable Margin. The Term SOFR Basis shall apply to Interest Periods of one (1), three (3), and six (6) months and, once determined, shall remain unchanged during the applicable Interest Period, except for changes to reflect adjustments in the Applicable Margin as adjusted pursuant to Section 2.3(f). The Term SOFR Basis for any Term SOFR Advance shall be adjusted as of the effective date of any change in the Applicable Margin.
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Examples of Term SOFR Basis in a sentence

  • If the Borrower fails to give the Administrative Agent timely notice of its selection of a LIBOR Basis or a Term SOFR Basis, as applicable, or if for any reason a determination of a LIBOR Basis or Term SOFR Basis, as applicable, for any Advance is not timely concluded, the Base Rate Basis shall apply to such Advance.

  • Upon request, the Administrative Agent, whose determination in absence of manifest error shall be conclusive, shall determine the available LIBOR Basis or Term SOFR Basis, as applicable, and shall notify the Borrower of such LIBOR Basis or Term SOFR Basis, as applicable.

Related to Term SOFR Basis

  • 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 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 Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • 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.

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

  • Term SOFR Screen Rate means the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Term SOFR Determination Day has the meaning assigned to it under the definition of Term SOFR Reference Rate.

  • Initial Term Lender means any Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

  • Term SOFR Adjustment means a percentage equal to 0.10% per annum.

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • ABR Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Pro Rata and Pari Passu Basis means with respect to the Notes and the Note Holders, the allocation of any particular payment, collection, cost, expense, liability or other amount between such Notes or such Note Holders, as the case may be, without any priority of any such Note or any such Note Holder over another such Note or Note Holder, as the case may be, and in any event such that each Note or Note Holder, as the case may be, is allocated its respective Percentage Interest of such particular payment, collection, cost, expense, liability or other amount.

  • Additional Term Lender means any Lender with an Additional Term Loan Commitment or an outstanding Additional Term Loan.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount not to exceed the amount set forth opposite such Term Lender’s name in Schedule 1.01A under the caption “Initial Term Commitment.” The initial aggregate principal amount of the Initial Term Commitments as of the Closing Date was $2,670,000,000.

  • Initial Term Loan Commitment means the commitment of a Lender to make or otherwise fund an Initial Term Loan and “Initial Term Loan Commitments” means such commitments of all of the Lenders in the aggregate. The amount of each Lender’s Initial Term Loan Commitment, if any, is set forth on Appendix A-1 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $200,000,000.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Periodic Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • 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, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Additional Book Basis means the portion of any remaining Carrying Value of an Adjusted Property that is attributable to positive adjustments made to such Carrying Value as a result of Book-Up Events. For purposes of determining the extent that Carrying Value constitutes Additional Book Basis: