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.

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Term SOFR Loans. Loans the rate of interest applicable to which is based upon Adjusted Term SOFR (other than pursuant to clause (c) of the definition of “ABR”).

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

Examples of Term SOFR Loans in a sentence

• Each Borrowing of, conversion to or continuation of Term SOFR Loans or Alternative Currency Loans, as applicable, shall be in a principal amount of the Dollar Equivalent of $5,000,000 or a whole multiple of the Dollar Equivalent of $1,000,000 in excess thereof (or, in the case of any Alternative Currency Loans, in a principal amount of the Dollar Equivalent of $1,000,000 or a whole multiple of the Dollar Equivalent of $100,000 in excess thereof).

• Any automatic conversion of Term SOFR Loans 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.

• If the applicable Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans or Alternative Currency Term Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

• 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 or Alternative Currency Term Rate Loans are to be prepaid, the currency and Interest Period(s) of such Loans.

• During the existence of a Default, no Loans may be requested as, converted to or continued as Term SOFR Loans or Alternative Currency Loans (whether in Dollars or any Alternative Currency) without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the then outstanding Alternative Currency Term Rate Loans be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto.

More Definitions of Term SOFR Loans

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 1-month Term SOFR.

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. The Amended Credit Agreement is not a novation of the Existing Credit Agreement.

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

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.

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.

Term SOFR Loans. Revolving Credit Loans the rate of interest applicable to which is based upon the Adjusted Term SOFR Rate.