Term SOFR Rate Option definition

Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).

Term SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i)(1).

Term SOFR Rate Option means the option of the Borrower to have portions of the advances bear interest at a rate based on the Term SOFR Rate, if such Option is provided in the paragraph entitled “Interest Rate” above.

Examples of Term SOFR Rate Option in a sentence

If the Borrower provides any Loan Request related to a Loan at the Term SOFR Rate Option but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.
At any time when the Borrower shall select, convert to or renew a Term SOFR Rate Option, the Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such Term SOFR Rate Option by delivering a Loan Request.
Except as provided in Section 4.4(c), if the Borrower prepays a Loan but fails to specify the applicable Borrowing Tranche which the Borrower is prepaying, the prepayment shall be applied (1) first to Revolving Credit Loans and then to Term Loans ratably; and (2) after giving effect to the allocations in clause (1) above and in the preceding sentence, first to Loans to which the Base Rate Option applies, then to Loans to which the Term SOFR Rate Option applies.
In the case of the renewal of a Term SOFR Rate Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.
In accordance with Section 5.10, the Borrower shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a Term SOFR Rate Option on any day other than the last day of the applicable Interest Period.

More Definitions of Term SOFR Rate Option

Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified inSection 4.1(a) (ii), Section 4.1(b)(ii) or Section 4.1(c)(ii), as applicable.

Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms set forth in Section 2.08. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Test Period” means, as of any date of determination, the most recently ended four-Fiscal Quarter period for which financial statements have been (or are required to have been) delivered to the Administrative Agent pursuant to Section 5.01(a) or 5.01(b), as applicable. “Title Insurance Company” means Chicago Title Insurance Company or any other nationally reputable title insurance company that is retained by the Borrowers and is reasonably acceptable to the Administrative Agent. “To-Ricos” means To-Ricos, Ltd., a Bermuda company. “To-Ricos Distribution” means To-Ricos Distribution, Ltd., a Bermuda company. 50

Term SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i)(A). “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Test Period” means, as of any date of determination, the most recently completed four (4) fiscal quarters of the Loan Parties ended on or prior to such time (taken as one accounting period) for which financial statements have been delivered (or are required to have been delivered) to the Administrative Agent.

Term SOFR Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i)(A). “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Test Period” means, as of any date of determination, the most recently completed four (4) fiscal quarters of the Loan Parties ended on or prior to such time (taken as one accounting period) for which financial statements have been delivered (or are required to have been delivered) to the Administrative Agent. “Total Assets” means, at any date of determination, the consolidated total assets of the Company and its Restricted Subsidiaries as of the last day of the most recent fiscal quarter of the Company for which financial statements have been delivered pursuant to Section 5.01(a), (b) or (c) as adjusted to give effect to any acquisition or Disposition of a Person or assets that may have occurred on or after the last day of such fiscal quarter. “Total Term Loan Outstandings” means the “Aggregate Term Loan Exposure” as defined in the Term Loan Agreement. “Trade Date” has the meaning set forth in Section 9.04(e). “Transactions” means the execution, delivery and performance by the Loan Parties of this Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to (a) the Alternate Base Rate, (b) Term SOFR Rate, (c) prior to the Term RFR Transition Date with respect to Euros, the Daily Simple RFR for such Currency or, on and after the Term RFR Transition Date with respect to any such Currency, the Term RFR for such Currency, or (d)

Term SOFR Rate Option means the option of the Company to have Loans bear interest at the Term SOFR Rate. “Term SOFR Rate Spread” shall have the meaning set forth in the applicable Note.

Term SOFR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i)(1) [Revolving Credit Loan Term SOFR Rate Option] “Term SOFR Reference Rate” shall mean the forward-looking term rate based on SOFR. “TONAR” means a rate equal to the Tokyo Overnight Average Rate as administered by the TONAR Administrator. “TONAR Administrator” means the Bank of Japan (or any successor administrator of the Tokyo Overnight Average Rate). “TONAR Administrator’s Website” means the Bank of Japan’s website, at xxxx://xxx.xxx.xx.xx, or any successor source for the Tokyo Overnight Average Rate identified as such by the TONAR Administrator from time to time. “UCP” means as is specified in Section 12.11(a) [Governing Law]. “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. “UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution. “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. “Unrestricted Cash” means, at any time of determination, the sum of (i) the aggregate amount of all cash deposits of the Parent and its Subsidiaries maintained in any demand account, and (ii) the aggregate monetary value of any Cash Equivalents of the Parent and its Subsidiaries, to the extent such cash deposits and Cash Equivalents are free of any Lien or other encumbrance (other than (x) customary Liens arising in the ordinary course of business which the depository institution or securities intermediary may have with respect to any right of offset against funds in such account and (y) customary holds for uncollected deposits) and do not appear as

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