Term SOFR Rate Loan definition

Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

Term SOFR Rate Loan means a Loan that bears interest based on Term SOFR Rate.

Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to clause (a) of the definition of Term SOFR.

Examples of Term SOFR Rate Loan in a sentence

• If the Borrower fails to duly request the continuation of any Borrowing consisting of Term SOFR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.6, then such Term SOFR Rate Loan automatically shall be converted to a Base Rate Loan, interest at the Base Rate Option shall commence on the last day of the existing Interest Period.

• If at any time prior to a Benchmark Replacement Date (as defined below) the Lead Agent makes a determination under Section 3.13(a) and the Borrowers have previously notified the Lead Agent of its selection of, conversion to or renewal of a Term SOFR Rate Loan and the applicable Benchmark Replacement has not yet gone into effect, such notification shall be deemed to provide for selection of, conversion to or renewal of a Base Rate Loan.

• Interest on the principal amount of each Loan not constituting a Base Rate Loan or Term SOFR Rate Loan or on other monetary Obligation shall be due and payable on demand after such principal amount or other monetary Obligation becomes due and payable (whether on the stated Maturity Date, upon an accelerated Maturity Date or otherwise).

• The date of funding or conversion of a Term SOFR Rate Loan to a Base Rate Loan and the first day of an Interest Period shall be included in the calculation of interest.

• If any Lender notifies the Lead Agent of a determination under Section 3.13(b), the Borrowers shall, subject to the Borrowers’ indemnification Obligations under Section 3.7(d), as to any Loan of the Lender to which the Term SOFR Rate applies, on the date specified in such notice either convert such Loan to a Base Rate Loan or a Term SOFR Rate Loan with a tenor otherwise available with respect to such Loan or prepay such Loan in accordance with Section 3.3(b).

More Definitions of Term SOFR Rate Loan

Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR.

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

Term SOFR Rate Loan means a Committed Loan denominated in Dollars under the U.S. Tranche or the Euro Tranche that bears interest at a rate based on clause (a) of the definition of Term SOFR Rate.

Term SOFR Rate Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR. “Term SOFR Replacement Date” has the meaning specified in Section 3.03(b).

Term SOFR Rate Loan means an Advance that bears interest based on Term SOFR Rate. “Term SOFR Reference Rate” shall mean the forward-looking term rate based on SOFR.

Term SOFR Rate Loan means a Loan which bears interest by reference to the Adjusted Term SOFR Rate other than pursuant to clause (iii) of the definition of Base Rate.

Term SOFR Rate Loan means a Loan bearing interest at the Term SOFR Rate Option, other than pursuant to clause (c) of the definition of “Alternate Base Rate”. A Term SOFR Rate Loan is a Loan subject to an Interest Period. “Term SOFR Transition Date” means, with respect to a Term SOFR Transition Event, the date that is 30 days (or such later date as the Administrative Agent may specify in the Term SOFR Notice) after the date the Term SOFR Notice is provided by the Administrative Agent to the Lenders and the Borrower pursuant toRate Option” means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 3.72.4(fa)(ii). “Term SOFR Transition Event” means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent, and (c) a replacement of the LIBOR Rate has previously occurred in accordance with Section 3.7(a) resulting in a Benchmark Replacement under clause (a) of the definition of Benchmark Replacement.Reference Rate” means the forward-looking term rate based on SOFR. “Termination Date” means the Business Day as of which all of the following shall have occurred: (a) all Commitments under this Agreement have terminated, (b) all Secured Obligations have been paid in full in cash (other than (i) contingent indemnification obligations as to which no claim has been made and (ii) obligations and liabilities with respect to any Secured Bank Product or Secured Hedge as to which arrangements reasonably satisfactory to the applicable Secured Party have been made) and (c) all Letters of Credit have terminated or expired (other than Letters of Credit which have been Cash Collateralized or as to which other arrangements with respect thereto satisfactory to the Issuing Lender shall have been made). “Threshold Amount” means as of any given date of determination, the greater of (a) $10,000,000 and (b) 10.0% of Consolidated EBITDA determined on a Pro forma Basis as of the most recent four fiscal quarter period for which Consolidated financial statements have been delivered. “Total Credit Exposure” means, as to any Lender at any time, the sum of such Xxxxxx’s unused Term Loan A-1 Commitment, unused Term Loan A-2 Commitment, unused Incremental Term Loan Commitments, Revolving Credit Exposure, outstanding Term Loans and outstanding Incremental Term Loans. 46