Term SOFR Loans definition

Term SOFR Loans when used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to Adjusted Term SOFR.

Term SOFR Loans. Loans the rate of interest applicable to which is based upon Term SOFR.

Term SOFR Loans means the Term Loan I, Term Loan K, Term Loan L, Term Loan M, Term Loan N, Term Loan O and Term Loan P, Term Loan Q, Term Loan R and Term Loan S and Term Loan T and any other Loans for which Applicable Rate is determined with 3-month or 1-month Term SOFR.

Examples of Term SOFR Loans in a sentence

• Upon receipt of such notice, the Borrower may revoke any pending request for a borrowing of Term SOFR Loans (to the extent of the affected Term SOFR Loans or the affected Interest Periods).

• Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make Term SOFR Loans shall be suspended (to the extent of the affected Term SOFR Loans or the affected Interest Periods) until the Administrative Agent (with respect to clause (ii), at the instruction of the Required Lenders) revokes such notice.

• Upon receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), convert all Term SOFR Loans or Daily Simple SOFR Loans, as applicable, of such Lender to ABR Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Term SOFR Loans or Daily Simple SOFR Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Term SOFR Loans or Daily Simple SOFR Loans.

• Each borrowing of, conversion to or continuation of Term SOFR Loans shall be in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; provided that a continuation of an outstanding Term SOFR Borrowing may be in a principal amount that is equal to such outstanding Borrowing.

• Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans.

More Definitions of Term SOFR Loans

Term SOFR Loans means Committed Loans which bear interest at a rate based upon Term SOFR, other than pursuant to clause

Term SOFR Loans the Term SOFR Revolving Credit Loans and/or the Term SOFR Term Loans.

Term SOFR Loans. “Spot Rate” means the currency exchange rate for the purchase of Dollars in the applicable Alternative Currency on any Revaluation Date that appears on the Bloomberg screen page for such Alternative Currency (or if such service is no longer available or widely used in the market, the applicable screen page published by Reuters or another commercially available source providing quotations of such rate as selected by Administrative Agent in its reasonable discretion from time to time) on such Revaluation Date, provided that, in the case of a payment to be made on a particular day, at the end of the immediately preceding Business Day.

Term SOFR Loans. Loans the rate of interest applicable to which is based upon Term SOFR. “Term SOFR Reference Rate”: the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR. “Term SOFR Tranche”: the collective reference to Term SOFR Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). “Termination Date”: the first date on which (a) all Commitments shall have expired or been terminated, (b) the principal of and interest on each Loan and all fees, expenses and other amounts payable under the Loan Documents shall have been paid in full (in each case other than (x) indemnification or reimbursement obligations that expressly survive the termination of this Agreement under Section 2.18, 2.19(a), 2.19(d) or 2.20 and for which the applicable Borrower has not been notified and contingent indemnification obligations not asserted and (y) obligations under or in respect of 56

Term SOFR Loans. $ Applicable Interest Period: Base Rate Loans: $ Voluntary prepayment of Swingline Loans in the following amount(s): $ Delivery of an executed counterpart of a signature page of this notice by fax transmission or e-mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this notice. [signature page follows]

Term SOFR Loans. (d) The parties hereto agree that, on and as of the First Amendment Effective Date, the following transactions shall be deemed to occur automatically, without further action by any party hereto: (i) the Existing Credit Agreement shall automatically be amended in its entirety to read in the form of the Amended Credit Agreement; (ii) all Obligations outstanding on and as of the First Amendment Effective Date shall in all respects be continuing and shall be deemed to be Obligations outstanding under the Amended Credit Agreement; (iii) the Guaranty provided pursuant to the Existing Credit Agreement shall remain in full force and effect with respect to the Secured Obligations and is hereby reaffirmed; (iv) all Letters of Credit outstanding under the

Term SOFR Loans. (under and as defined in, the Amended Credit Agreement) with an initial Interest Period ending on the last day of the Interest Period in effect for the Existing Term Loans and accruing interest based on the same Term SOFR Reference Rate as the Existing Term Loans (which Interest Periods shall continue in effect until such Interest Periods expire and a new Type of Borrowing is selected in accordance with the provisions of the Amended Credit Agreement). For the avoidance of doubt, interest will only accrue on the Sixth Amendment Term Loans from and after the Amendment Effective Date.