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 a Borrowing that, except as otherwise provided in Section 2.05(b), bears interest at the applicable Term SOFR Rate.

Examples of Term SOFR Borrowing in a sentence

• Pursuant to Section 2.9 of the Agreement, the Borrower hereby requests to [continue][convert] the interest rate on a Borrowing in the outstanding principal amount of $[] on [], 20[], as follows: ☐ to convert such Term SOFR Borrowing to a Base Rate Borrowing as of the last day of the current Interest Period for such Term SOFR Borrowing.

• The Borrower shall select the Type of Borrowing and, in the case of each Term SOFR Borrowing, the Interest Period applicable thereto from time to time.

• Notwithstanding anything to the contrary in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Event of Default, the Required Lenders may, at their option, by notice from the Administrative Agent to the Borrower (which notice can be revoked at the option of the Required Lenders notwithstanding Section 10.2(b)), declare that no Borrowing may be made as, converted into or continued as a Term SOFR Borrowing.

• Each Term SOFR Borrowing shall be in the minimum amount of $500,000 and in integral multiples of $500,000, and each Base Rate Borrowing (other than a Borrowing to repay Swingline Loans) shall be in the minimum amount of $100,000 and in integral multiples of $100,000, except that any Base Rate Borrowing may be in the amount of the Available Aggregate Commitment.

• Subject to Section 2.6, the Borrower may elect from time to time to convert all or any part of a Base Rate Borrowing into a Term SOFR Borrowing.

More Definitions of Term SOFR Borrowing

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 a Borrowing comprised of Loans bearing interest at a rate determined by reference to Term SOFR (other than pursuant to clause (b) of the definition of Index 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 means a Borrowing that, except as otherwise provided in Section 2.13(f), bears interest at the applicable Term SOFR Rate.

Term SOFR Borrowing means, as to any Borrowing, the Loans bearing interest at a rate based on Adjusted Term SOFR comprising such Borrowing other than pursuant to clause (b) of the definition of “Base Rate”.

Term SOFR Borrowing means a Borrowing consisting of Term SOFR Rate Loans. “Term SOFR Rate Lending Office” means, as to each Lender, its office located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Base Rate Lending Office) or such other office as such Lender may hereafter designate as its Term SOFR Rate Lending Office by notice to the Borrower and the Administrative Agent. “Term SOFR Rate Loan” means a Loan which bears interest by reference to the Adjusted Term SOFR Rate other than pursuant to clause (iii) of the definition of Base Rate.

Term SOFR Borrowing means a Borrowing that, except as otherwise provided in Section 2.05(b), bears interest at the applicable Term SOFR