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).
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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.
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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 4.1.1(ii)(a) [Term SOFR Rate Option]."
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Examples of Term SOFR Rate Option in a sentence

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the Term SOFR Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with Section 2.5, the Borrower shall be deemed to have converted such Borrowing Tranche to the Daily SOFR Option, as applicable to to Revolving Credit Loans commencing upon the last day of the existing Interest Period.

  • Interest on Loans to which the Term SOFR Rate Option applies shall be due and payable on the last day of each Interest Period and, if such Interest Period is longer than three (3) months, also at the end of each three-month period during such Interest Period.

  • 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.

  • Each such Loan Request shall be irrevocable and shall specify the aggregate amount of the proposed Revolving Loans comprising each Borrowing, and, if applicable, the Interest Period, which amounts shall be in (x) integral multiples of $250,000 and not less than $500,000 for each Borrowing under the Term SOFR Rate Option and (y) integral multiples of $250,000 and not less than $500,000 for each Borrowing under the Base Rate Option.


More Definitions of Term SOFR Rate Option

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 2.02(a) as a Term SOFR Rate Loan.
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Term SOFR Rate Option means the option of the Borrower to have Loans bear interest at a rate based on the Term SOFR Rate and under the terms specified for Term SOFR Rate Loans in Section 2.08.
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Term SOFR Rate Option means the option of the Borrowing Agent to have Loans bear interest at the rate and under the terms specified in Section 4.1.1.1(i) [Revolving Credit SOFR Rate Option].
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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.
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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 4.1(a)(i)(1) [Revolving Credit Term SOFR Rate Option] or Section 4.1(c)(i)(1) [Term Loan and Delayed Draw Term Loan Term SOFR Rate Option], as applicable.
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Term SOFR Rate Option means the option of the Borrower to have Term Loan Advances and Revolving Credit Advances bear interest at the rate and under the terms specified in Section 2.07(a)(ii).
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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).
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