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

  • 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.

  • Initial Term Lender means a Lender with an Initial Term 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 Adjustment means a percentage equal to 0.10% per annum.

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

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

  • Initial Term Loan Commitment means the commitment of an Initial Term Lender under the Original Credit Agreement to make or otherwise fund an Initial Term Loan and “Initial Term Loan Commitments” means such commitments of all Initial Term Lenders in the aggregate. The aggregate amount of the Term Loan Commitments was $2,000,000,000 on the Closing Date before the funding of any Term Loans.

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