Common use of Daily Simple SOFR Clause in Contracts

Daily Simple SOFR. The rate per annum equal to SOFR determined for any day pursuant to the definition thereof plus the SOFR Adjustment. Any change in Daily Simple SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of the Loan Documents.

Daily Simple SOFR. The rate per annum equal to SOFR determined for any day pursuant to the definition thereof plus plus, in the case of a Closing Date Term Loan, the SOFR Adjustment. Any change in Daily Simple SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of the Loan Documents.

Daily Simple SOFR. The rate per annum equal to SOFR determined for any day pursuant to the definition thereof plus the SOFR Adjustmentthereof. Any change in Daily Simple SOFR shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of the Loan Documents.