Term SOFR Determination Date shall have the meaning set forth in the definition of Term SOFR Rate.
Term SOFR Determination Date means, with respect to each Remittance Period, the day that is two (2) Business Days prior to the first day of such Remittance Period.
Term SOFR Determination Date means, with respect to each Collection Period, the day that is two (2) U.S. Government Securities Business Days prior to the first day of such Collection Period.
Examples of Term SOFR Determination Date in a sentence
A Variable Rate Flex Private Placement Rate shall have a Rate Change Date that is the first day of the applicable Flex Private Placement Rate Mode Period and the first day of each Interest Period that occurs in such Flex Private Placement Rate Mode Period and the Rate Determination Date is the Term SOFR Determination Date.
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.
The Interest Rate for subsequent Interest Periods shall be re-determined, and adjusted if necessary, on each subsequent Periodic 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 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.
More Definitions of Term SOFR Determination Date
Term SOFR Determination Date means (a) the Effective Date and (b) the first Business Day of each calendar month thereafter.
Term SOFR Determination Date means initially, the Closing Date and then each Monthly Settlement Date thereafter; provided that if any Term SOFR Determination Date is not a U.S. Government Securities Business Day, the rate applicable on such Term SOFR Determination Date shall be the rate for the immediately preceding U.S. Government Securities Business Day.
Term SOFR Determination Date means a day that is two (2) Business Days prior to the first day of each Term SOFR Interest Period.
Term SOFR Determination Date. With respect to each Accrual Period, the day that is two (2) Business Days prior to the first day of such Accrual Period. “Term SOFR Reference Rate”: The forward-looking term rate based on SOFR. “Termination Date”: The earliest of (a) the date of the termination in whole of the Facility Amount pursuant to Section 2.3(a), (b) the Facility Maturity Date and (c) the date of the declaration of the Termination Date or the date of the automatic occurrence of the Termination Date pursuant to Section 9.2(a). “Total Leverage Ratio”: With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Total Leverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Total Leverage Ratio” or comparable definition, the ratio of (i) the total Indebtedness (including, without limitation, such Loan) of the applicable Obligor as of the date of determination minus the Unrestricted Cash of such Obligor as of such date to (ii) EBITDA of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in accordance with and subject to the standard of care in performing its duties under this Agreement and the Credit and Collection Policy, and in good faith using information from and calculations consistent with the relevant compliance statements and financial reporting packages provided by the relevant Obligor in accordance with the requirements of the related Underlying Instruments, provided that, in either case, for any Loan subject to a Recurring Revenue Reclassification Date, any references to the Total Leverage Ratio as of the date on which such Loan was acquired by the Borrower shall be deemed to mean such ratios determined by the Administrative Agent in its sole discretion as of the Recurring Revenue Reclassification Date. “Transaction Documents”: This Agreement, the Sale Agreement, the Securities Account Control Agreement, any Joinder Supplement, the Collateral Agent and Document Custodian Fee Letter and the Services and Indemnity Agreement. “UCC”: The Uniform Commercial Code as from time to time in effect in the applicable jurisdiction or jurisdictions.
Term SOFR Determination Date has the meaning assigned to it in the definition of “Term SOFR Reference Rate”. “Term SOFR Rate” means, with respect to any Term Benchmark Borrowing denominated in Dollars 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 the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator. “Term SOFR Reference Rate” means, for any day and time (such day, the “Term SOFR Determination Date”), with respect to any Term Benchmark Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period on the day that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the SOFR Administrator, the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR, provided that if the Term SOFR Reference Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of calculating such rate. If by 5:00 pm (New York City time) on any Term SOFR Determination Date, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination Date will be the Term SOFR Reference Rate for such tenor as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the CME Term SOFR Administrator, so long as such first U.S. Government Securities Business Day preceding such Business Day is not more than five (5) U.S. Government Securities Business Days prior to such Term SOFR Determination Date. “Threshold Amount” means $5,000,000. “Trade Date” means, as to a particular assignment or participation of an interest hereunder to a Person, the date on which the applicable Lender enters into a binding agreement to sell and assign or participate all or a portion of its rights and obligations under this Agreement to such Person. “Total Adjusted Capital” means, with respect to an Insurance Company and as of a date of determination, the “Total Adjusted Capital,” or equivalent term, as defined in the Applicable Insurance Code of the state in which such In...
Term SOFR Determination Date has the meaning provided in the definition of Term SOFR Screen Rate.
Term SOFR Determination Date means, for any Interest Period, the date falling two Additional Business Days before the first day of such Interest Period;