Examples of Term SOFR Determination Date in a sentence
The Pricing Rate shall be reset once per Accrual Period, on the related Periodic Term SOFR Determination Date, and, in each case, unless otherwise agreed, the accrued and unpaid Price Differential shall be settled in cash on each related Payment Date as set forth in Section 7.
The Interest Rate for subsequent Interest Periods shall be re-determined, and adjusted if necessary, on each subsequent Eurodollar RatePeriodic Term SOFR Determination Date, and the Interest Rate shall remain fixed throughout the applicable Interest Period until the first Business Day of the following Interest Period (subject to the provisions of Section 12.19 of this Agreement).
The Administrative Agent must determine the interest rate for each Interest Period on the Term SOFR Determination Date.
The Administrative Agent must give notice on the Term SOFR Determination Date to each relevant Party of the determination of an interest rate under this Contract.
Borrower hereby directs Administrative Agent, and Administrative Agent acknowledges, that the Loan shall be a SOFR Loan on the Closing Date and such SOFR Loan shall be reset on the first Periodic Term SOFR Determination Date to occur after the Closing Date and on each Periodic Term SOFR Determination Date thereafter if Borrower has not given notice to Administrative Agent to convert the Loan to an Alternative Base Rate Loan.
On each Periodic Term SOFR Determination Date, the Lender shall determine and deliver to the Servicer the applicable Benchmark with respect to the related Accrual Period.