Term SOFR Borrowing definition
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.
Term SOFR Borrowing as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing.
Term SOFR Borrowing means any Borrowing bearing interest based on Term SOFR other than pursuant to clause (c) of the definition of “Base Rate”.
Examples of Term SOFR Borrowing in a sentence
Except as otherwise provided herein, a Term SOFR Borrowing may be continued or converted only on the last day of an Interest Period for such Term SOFR Borrowing.
Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Term SOFR Borrowing and (ii) unless repaid, each Term SOFR Borrowing shall be converted to a Base Rate Borrowing at the end of the Interest Period applicable thereto.
Thereafter, the Borrower may elect to convert any such Borrowing (or any part thereof) to a different Type or to continue such Borrowing and, in the case of a Term SOFR Borrowing, may elect Interest Periods therefor, all as provided in this Section.
If the Borrower fails to deliver a timely Interest Election Request with respect to a Term SOFR Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be continued as a Term SOFR Borrowing with a one (1) month Interest Period election.
If no Interest Period is specified with respect to any requested Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of 1 month’s duration.
More Definitions of Term SOFR Borrowing
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans. “Term SOFR Lending Office” means, as to each Lender, its office, branch or Affiliate located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Term SOFR Lending Office) or such other office, branch or Affiliate of such Lender as it may hereafter designate as its Term SOFR Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Loan” means any 2028 Revolving Loan or 2030 Revolving Loan that bears interest at a rate based on Adjusted Term SOFR other than pursuant to clause (iii) of the definition of “Base Rate”. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means (i) with respect to the 2028 Revolving Loans and 2028 Revolving Commitments, the 2028 Termination Date and (ii) with respect to the 2030 Revolving Loans and 2030 Revolving Commitments, the 2030 Termination Date. “Type”, when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. “UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution. “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. “Unfunded Liabilities” means, with respect to any Plan at any time, the amount (if any) by which (i) the value of all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions), all determined as of the then most recent valuation date for such Plan, but only to the
Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.07, bears interest at the applicable Term SOFR Rate.
Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 3.1, bears interest at the applicable Term SOFR Rate.
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans. “Term SOFR Lending Office” means, as to each Lender, its office, branch or Affiliate located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Term SOFR Lending Office) or such other office, branch or Affiliate of such Lender as it may hereafter designate as its Term SOFR Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Loan” means any 2026 Revolving Loan or 2027 Revolving Loan that bears interest at a rate based on Adjusted Term SOFR other than pursuant to clause (iii) of the definition of “Base Rate”. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means (i) with respect to the 2026 Revolving Loans and 2026 Revolving Commitments, the 2026 Termination Date and (ii) with respect to the 2027 Revolving Loans and 2027 Revolving Commitments, the 2027 Termination Date. “Type”, when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation
Term SOFR Borrowing or “Term SOFR Loan” mean an RC Facility Borrowing or RC Facility Loan or 2023 Term Loan Borrowing or 2023 Term Loan, as applicable, that bears interest at a rate determined by reference to the Adjusted Term SOFR Rate (other than pursuant to the definition of “Alternate Base Rate”). All Term SOFR Loans shall be denominated in Dollars.
Term SOFR Borrowing means, as to any Borrowing, the Term SOFR Loans comprising such Borrowing. “Term SOFR Loan” means a Loan bearing interest based on Adjusted Term SOFR.
Term SOFR Borrowing as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing other than pursuant to clause (c) of the definition of “ABR”. “Third Amendment”: that certain Third Amendment to Amended and Restated Credit Agreement dated as of February 27, 2025 by and among the Borrower, the Guarantors party thereto, the Lenders party thereto and SVB, as Administrative Agent, Issuing Lender and Swingline Lender. “Third Amendment Effective Date”: as defined in the Third Amendment. “Total Credit Exposure”: is, as to any Lender at any time, the unused Commitments, Revolving Extensions of Credit and outstanding Term Loans of such Lender at such time. “Total L/C Commitments”: at any time, the sum of all L/C Commitments at such time, as the same may be reduced from time to time pursuant to Section 2.10 or 3.5(b). “Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. “Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit outstanding at such time. “Trade Date”: as defined in Section 10.6(b)(i)(B). “Transactions”: as defined in Section 5.1(b). “Transferee”: any Eligible Assignee or Participant.