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Term SOFR Loans definition

Term SOFR LoansÌýwhen used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to Adjusted Term SOFR.
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Term SOFR Loans.ÌýLoans the rate of interest applicable to which is based upon Adjusted Term SOFR (other than pursuant to clause (c) of the definition of “Aµþ¸éâ€�).
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Term SOFR LoansÌýthe Term SOFR Revolving Credit Loans and/or the Term SOFR Term Loans.
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Examples of Term SOFR Loans in a sentence

  • Each Continuation of Term SOFR Loans of the same Class shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 in excess of that amount, and each new Interest Period selected under this Section shall commence on the last day of the immediately preceding Interest Period.

  • Such notice by the Borrower of a Continuation shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Continuation, specifying (a) the proposed date of such Continuation, (b) the Term SOFR Loans, Class and portions thereof subject to such Continuation and (c) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder.

  • Each Notice of Borrowing shall specify the aggregate principal amount of the Revolving Loans to be borrowed, the date such Revolving Loans are to be borrowed (which must be a Business Day), a general description of the use of the proceeds of such Revolving Loans, the Type of the requested Revolving Loans, and if such Revolving Loans are to be Term SOFR Loans, the initial Interest Period for such Revolving Loans.

  • The applicable Borrowers shall pay to the Agent, for the ratable benefit of the applicable Lenders, interest on all (x) Term SOFR Loans in arrears on each Term SOFR Interest Payment Date, and (y) Term ▇▇▇▇â–� Loans in arrears on each Term ▇▇▇▇â–� Interest Payment Date.

  • The Borrower shall have the right, at its election, to prepay the outstanding amount of the Term Loans, as a whole or in part, at any time without penalty or premium; provided, that if any prepayment of the outstanding amount of any Term Loans that are Term SOFR Loans pursuant to this §3.3 is made on a date that is not the last day of the Interest Period relating thereto, such prepayment shall be accompanied by the payment of any amounts due pursuant to §4.8.


More Definitions of Term SOFR Loans

Term SOFR LoansÌýmeans the Term Loan I, Term Loan K, Term Loan L, Term Loan M, Term Loan N, Term Loan O and Term Loan P, Term Loan Q, Term Loan R and Term Loan S, Term Loan T and any other Loans for which Applicable Rate is determined with 3-month or 1-month Term SOFR.
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Term SOFR Loans.Ìýâ€�Spot Rateâ€� means the currency exchange rate for the purchase of Dollars in the applicable Alternative Currency on any Revaluation Date that appears on the Bloomberg screen page for such Alternative Currency (or if such service is no longer available or widely used in the market, the applicable screen page published by Reuters or another commercially available source providing quotations of such rate as selected by Administrative Agent in its reasonable discretion from time to time) on such Revaluation Date, provided that, in the case of a payment to be made on a particular day, at the end of the immediately preceding Business Day.
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Term SOFR Loans.ÌýThe Amended Credit Agreement is not a novation of the Existing Credit Agreement.
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Term SOFR LoansÌýmeans Committed Loans which bear interest at a rate based upon Term SOFR, other than pursuant to clause
Term SOFR Loans.ÌýRevolving Credit Loans the rate of interest applicable to which is based upon the Adjusted Term SOFR Rate.
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Term SOFR LoansÌýwith an Interest Period of The Borrower hereby represents and warrants that [(a) such request complies with the requirements of Section 2.01(c) of the Credit Agreement and (b)] each of the conditions specified in Sections 4.02(a) and (b) of the Credit Agreement have been satisfied on and as of the date of such Borrowing, conversion or continuation, as applicable. Delivery of an executed counterpart of a signature page of this notice by fax transmission or e-mail transmission (e.g. “pdfâ€� or “tifâ€�) shall be effective as delivery of a manually executed counterpart of this notice. [signature page follows]
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Term SOFR LoansÌýwith an Interest Period of .1 The Borrowing requested herein complies with the proviso to the first sentence of Section 2.01 of the Agreement. By: Name: Title: 1 One, three or six months. To: Bank of America, N.A., as Administrative Agent Ladies and Gentlemen: Reference is made to that certain Credit Agreement, dated as of March 25, 2024 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;â€� the terms defined therein being used herein as therein defined), among Consolidated Edison Company of New York, Inc., the Lenders party thereto and Bank of America, N.A., as Administrative Agent. The undersigned hereby requests a conversion or continuation of Loans 1. On (a Business Day). 2. In the amount of $ .
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