Term SOFR Loans. Loans the rate of interest applicable to which is based upon Term SOFR.
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 means the Term Loan Q and Term Loan R 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
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.
Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Term SOFR Loans are to be prepaid, the Interest Period(s) of such Loans.
Each Borrowing of, conversion to or continuation of Term SOFR Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof.
During the existence of a Default, no Loans may be requested as, converted to or continued as Term SOFR Loans without the consent of the Required Lenders.
If the Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
More Definitions of Term SOFR 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 means Committed Loans which bear interest at a rate based upon Term SOFR, other than pursuant to clause
Term SOFR Loans with an Interest Period of .1 The Borrowing requested herein complies with the proviso to the first sentence of Section 2.01 of the Agreement. By: Name: Title: 1 One, three or six months. To: Bank of America, N.A., as Administrative Agent Ladies and Gentlemen: Reference is made to that certain Credit Agreement, dated as of March 25, 2024 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among Consolidated Edison Company of New York, Inc., the Lenders party thereto and Bank of America, N.A., as Administrative Agent. The undersigned hereby requests a conversion or continuation of Loans
1. On (a Business Day).
2. In the amount of $ .
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.
Term SOFR Loans. Loans the rate of interest of which is based upon Adjusted Term SOFR, other than pursuant to clause (c) of the definition of Base Rate. “Term SOFR Reference Rate”: the forward-looking term rate based on SOFR. “Third Amendment”: that certain Third Amendment to Second Amended and Restated Credit Agreement, dated as of September 2, 2022, by and among the Borrowers, the Lenders and the Administrative Agent. “Third Amendment Effective Date”: the “Amendment Effective Date” as defined in the Third Amendment. “Tier 1 Counterparty”: in relation to an Eligible Account Receivable or Eligible Unbilled Account Receivable, the counterparty thereto to the extent that (a) such counterparty is Investment Grade or (b) such counterparty’s obligations with respect thereto are supported by Acceptable Investment Grade Credit Enhancement. “Tier 2 Counterparty”: in relation to an Eligible Account Receivable or Eligible Unbilled Account Receivable, the counterparty thereto to the extent that it is not a Tier 1 Counterparty. “Title Insurance Company”: as defined in Section 6.1(o). “Total Acquisition Facility Acquisition Extensions of Credit”: an amount equal to the sum of (a) the aggregate unpaid principal amount of Acquisition Facility Loans outstanding at such time, plus (b) the aggregate amount of Acquisition Facility L/C Obligations outstanding at such time, that are, in each case, Acquisition Facility Acquisition Extensions of Credit. “Total Acquisition Facility Extensions of Credit”: an amount equal to the sum of (a) the aggregate unpaid principal amount of Acquisition Facility Loans outstanding at such time, plus (b) the aggregate amount of Acquisition Facility L/C Obligations outstanding at such time. “Total Acquisition Facility Working Capital Extensions of Credit”: an amount equal to the sum of (a) the aggregate unpaid principal amount of Acquisition Facility Loans outstanding at such time, plus (b) the aggregate amount of Acquisition Facility L/C Obligations outstanding at such time, that are, in each case, Acquisition Facility Working Capital Extensions of Credit.