Term SOFR Portion definition

Term SOFR Portion means each Portion bearing interest based on Adjusted Term SOFR.
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Term SOFR Portion means, at any time, a Portion of a Term Loan Borrowing, or a Term Loan, as the case may be, which then bears interest at at the applicable Term SOFR Rate.
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Term SOFR Portion means each Portion bearing interest based on Adjusted Term CREDIT AGREEMENT – Page 38 SOFR.
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Examples of Term SOFR Portion in a sentence

  • Each of Xxxxxxxx, Administrative Agent and each Lender acknowledges and agrees that the Existing Term Loans (x) remain outstanding hereunder, (y) constitute “Term Loans” for all purposes under this Agreement and the other Loan Documents and (z) as of the Closing Date, constitute a single Term SOFR Portion with an Interest Period of one month, the first day of which is the Closing Date.

  • If Borrower requests a Borrowing of, conversion to, or continuation of a Term SOFR Portion in any such Borrowing Request, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

  • Each such notice must be received by Administrative Agent not later than 12:00 noon (i) three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of a Term SOFR Portion or of any conversion of a Term SOFR Portion to a Base Rate Portion and (ii) on the requested date of any Borrowing of a Base Rate Portion.

  • Unless Borrower and Administrative Agent have entered into a sweep agreement regarding Xxxxxxxx’s cash management and funding and pay down of the Loans hereunder in form and substance satisfactory to Borrower and Administrative Agent (“Sweep Agreement”), each Syndicated Borrowing, each conversion of a Portion from one Type to the other, and each continuation of a Term SOFR Portion shall be made upon Xxxxxxxx’s irrevocable notice to Administrative Agent, which may be given by telephone.

  • Each prepayment required by this Section 2.8(c) shall be applied, First Amendment to Amended and Restated Credit Agreement first, to any Base Rate Portions then outstanding, and, second, to any Term SOFR Portions then outstanding, and if more than one Term SOFR Portion is then outstanding, to such Term SOFR Portions in such order as Borrower may direct, or if Borrower fails to so direct, as Administrative Agent shall elect.

  • Each of Borrower, Administrative Agent and each Lender acknowledges and agrees that the Existing Revolving Loans (x) remain outstanding hereunder, (y) constitute “Revolving Credit Loans” for all purposes under this Agreement and the other Loan Documents and (z) as of the Closing Date, constitute a single Term SOFR Portion with an Interest Period of one month, the first day of which is the Closing Date.

  • During the existence of a Default, (i) no Loans may be requested as, converted to or continued as Term SOFR Portions without the consent of the Required Lenders and (ii) unless repaid, each Term SOFR Portion shall be converted to a Base Rate Portion at the end of the Interest Period applicable thereto.

  • Except as otherwise provided herein, a Term SOFR Portion may be continued or converted only on the last day of an Interest Period for such Term SOFR Portion.

Related to Term SOFR Portion

  • 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.

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

  • 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.

  • Term SOFR Adjustment means a percentage equal to 0.10% per annum.

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrowers pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 (as in effect on the Closing Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Initial Term Commitments is $350,000,000.

  • Initial Term Lender means any Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Initial Term Facility means the Initial Term Loan Commitments and the Initial Term Loans made hereunder.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.