Term SOFR Loan definition

Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

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Term SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR. “Term SOFR Replacement Date” has the meaning specified in Section 3.03(b).

Examples of Term SOFR Loan in a sentence

If no Interest Period is specified with respect to any requested Term SOFR Loan, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Any Conversion of a Term SOFR Loan into a Base Rate Loan shall be made on, and only on, the last day of an Interest Period for such SOFR Loan.
If any such Interest Election Request requests a Term SOFR Loan but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Such notice by the Borrower of a Continuation shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Continuation, specifying (a) the proposed date of such Continuation, (b) the Term SOFR Loan and portion thereof subject to such Continuation and (c) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder.
Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to convert (x) a Term SOFR Loan to a Benchmark Replacement Rate Loan or (y) a Benchmark Replacement Rate Loan accruing interest at a rate based upon the then-current Benchmark to a Benchmark Replacement Rate Loan accruing interest at a rate based upon the applicable Benchmark Replacement for the then-current Benchmark, but the Loan may otherwise be converted in accordance with this Section 2.2.3(b).

More Definitions of Term SOFR Loan

Term SOFR Loan means any Loan bearing interest at a rate based on Adjusted Term SOFR. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR.

Term SOFR Loan means each Loan bearing interest at Adjusted Term SOFR Rate, as provided in Section 2.08(a).

Term SOFR Loan means a Revolving Loan that bears interest at a rate based on clause (a) of the definition of “Term SOFR.” “Term SOFR Replacement Date” has the meaning specified in Section 3.03(b). “Term SOFR” means, for the applicable corresponding Interest Period of BSBY (or if any Interest Period does not correspond to an interest period applicable to SOFR, the closest corresponding interest period of SOFR, and if such interest period of SOFR corresponds equally to two Interest Periods of BSBY, the corresponding interest period of the shorter duration shall be applied) Screen Rate” means the forward-looking SOFR term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.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). “Threshold Amount” means $10,000,000. “Total Credit Exposure” means, as to any Lender at any time, (a) the unused Commitments of such Lender at such time, plus (b) the Revolving Exposure of such Lender at such time. “Total Revolving Outstandings” means, at any time, (a) the aggregate Outstanding Amount of all Revolving Loans at such time, plus (b) the aggregate Outstanding Amount of all Swingline Loans at such time, plus (c) the aggregate Outstanding Amount of all L/C Obligations at such time. “Transactions” means, collectively, (a) the consummation of the Initial Public Offering, (b) the entering into of the Loan Documents and the incurrence of the initial Credit Extensions under this Agreement, in each case on the Closing Date, (c) the consummation by the Borrower and its Subsidiaries of all other transactions occurring substantially simultaneously with the Closing Date, and (d) the payment of all fees and expenses in connection with the foregoing. 34 13599552v113599552v2

Term SOFR Loan a Loan that bears interest based on clause (a) of the definition of Term SOFR. Term SOFR Screen Rate: the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by Agent from time to time).

Term SOFR Loan means a Loan that bears interest at a rate based on the definition of Term SOFR.

Term SOFR Loan means any Term SOFR Term Loan or Term SOFR Revolving Loan.

Term SOFR Loan means a Loan that, except as otherwise provided in Section 2.07, bears interest at the applicable Term SOFR Rate other than pursuant to clause (d) of the definition of Alternate Base Rate.