Term SOFR Option definition

Term SOFR Option has the meaning specified therefor in Section 2.12(a) of this Agreement.
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Term SOFR Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 3.01(a)(i)(A).
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Term SOFR Option has the meaning specified therefor in Section 2.07(a).
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Examples of Term SOFR Option in a sentence

  • Unless Borrowers have properly exercised the Term SOFR Option with respect to a Term SOFR Loan, prior to the end of the applicable Interest Period thereto, such Term SOFR Loan shall be automatically converted to a Daily Simple SOFR Loan as of the last day of such Interest Period.

  • If the Borrower provides any Loan Request related to a Loan at the Term SOFR Option but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.

  • Each such notice shall specify the requested date and amount of such Revolving Credit Loan, whether such Revolving Credit Loan shall be subject to the LIBOR Option or Term SOFR Option, and the amount of each Lender’s advance thereunder (in accordance with its applicable Pro Rata Percentage).

  • This appointment is coupled with an interest.2.12 Term SOFR Option.

  • Borrowers may, at any time and from time to time, so long as no Event of Default has occurred and is continuing, elect to exercise the Term SOFR Option by notifying Agent prior to 11:00 a.m. at least three U.S. Government Securities Business Days prior to the commencement of the proposed Interest Period (the “ Term SOFR Deadline”).

  • In the event the Company prepays any balance bearing interest at the Term SOFR Option, then at the time thereof, the Company shall pay to CoBank a prepayment surcharge calculated in accordance with Section 2.11 hereof.

  • Notwithstanding the foregoing, at CoBank’s option, interest on balances bearing interest at the Term SOFR Option shall be payable on the last day of the Interest Period.

  • In the event the Company: (i) repays any balance bearing interest at the Term SOFR Option prior to the last day of the Interest Period applicable thereto, whether such payment is made voluntary, by reason of acceleration, or otherwise; or (ii) fails for any reason to borrow, convert to, or renew any balance bearing interest at the Term SOFR Option on the date fixed therefor, then the Company shall pay to the Lender a surcharge calculated in accordance with the next sentence hereof.

  • Notice of such Xxxxxxxx’s election of the Term SOFR Option for a permitted portion of the Revolving Loans and an Interest Period pursuant to this Section shall be made by delivery to Agent of a Term SOFR Notice received by Agent before the Term SOFR Deadline, or by telephonic notice received by Agent before the Term SOFR Deadline (to be confirmed by delivery to Agent of a Term SOFR Notice received by Agent prior to 5:00 p.m. on the same day).

  • On the last day of each applicable Interest Period, unless the applicable Borrower has properly exercised the Term SOFR Option with respect thereto, the interest rate applicable to such Term SOFR Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder.


More Definitions of Term SOFR Option

Term SOFR Option the option granted pursuant to Section 4.1 to have the interest on all or any portion of the principal amount of the Revolving Credit Loans or any Term Loan Advance based on the Term SOFR Rate.
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Term SOFR Option has the meaning specified therefor in Section 2.12(a) of this Agreement. "Term SOFR Reference Rate" means the forward-looking term rate based on SOFR. "Trademark Security Agreement" has the meaning specified therefor in the Guaranty and Security Agreement.
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Related to Term SOFR Option

  • Term SOFR means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Employee Option means an Option granted pursuant to Section 5.

  • Term SOFR Notice means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Director Option means an Option granted pursuant to Section 6.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

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

  • Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Optionee.

  • Parent Stock Option means any option to purchase Parent Common Stock granted under any Parent Stock Plan.

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

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Restricted Stock Purchase Right means a right to purchase Stock granted to a Participant pursuant to Section 8.

  • Option Share has the meaning ascribed to it in section "4.7" hereinbelow;

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing 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 such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.