Daily Simple SOFR Margin definition

Daily Simple SOFR Margin means, with respect to Daily Simple SOFR Loans, a rate per annum determined in accordance with the Pricing Schedule.
View Source
Daily Simple SOFR Margin. “Alternative Currency Term Rate Margin”, “Alternative Currency Daily Rate Margin”, “Term SOFR Margin” and “Commitment Fee Rate” for any day are the respective percentages set forth in the applicable column below (in basis points per annum) in the row corresponding to the Category that exists on such day based on the Ratings: Category 1 ≥ AA-/Aa3 0.625 % 0.020 % Category 2 A+/A1 0.750 % 0.030 % Category 3 A/A2 0.875 % 0.040 % Category 4 A-/A3 1.000 % 0.050 % Category 5 BBB+/Baa1 1.125 % 0.075 % Category 6 < BBB/Baa2 1.250 % 0.100 %
View Source
Daily Simple SOFR Margin means, as of any date of determination (with respect to any portion of the outstanding Advances or the Term Loan on such date that is a Daily Simple SOFR Loan), the Applicable Margin with respect to Daily Simple SOFR Loans.
View Source

Examples of Daily Simple SOFR Margin in a sentence

  • A commission fee equal to the Daily Simple SOFR Margin multiplied by the face amount of the letter of credit (computed on the basis of a year of 360 days and actual days elapsed), which fee shall be payable quarterly in arrears on the 20th of each calendar quarter following issuance of the letter of credit, and on the last day of the term of the Commitment.

  • A commission fee equal to the Daily Simple SOFR Margin multiplied by the face amount of the letter of credit (computed on the basis of a year of 360 days and actual days elapsed), which fee shall be payable quarterly in arrears on the 20th of each calendar quarter following issuance of the letter of credit, and on the last day of the term of the Commitment..


More Definitions of Daily Simple SOFR Margin

Daily Simple SOFR Margin plus the higher of: (1) zero percent (0.00%); and
View Source
Daily Simple SOFR Margin has the meaning set forth in the definition of Applicable Margin.
View Source

Related to Daily Simple SOFR Margin

  • Daily Simple RFR means, for any day (an “RFR Interest Day”), an interest rate per annum equal to (a) for any RFR Loan denominated in GBP, the greater of (i) ▇▇▇▇▇ for the day (the “RFR Reference Day”) that is five RFR Business Days prior to (A) if such RFR Interest Day is a RFR Business Day, such RFR Interest Day or (B) if such RFR Interest Day is not a RFR Business Day, the RFR Business Day immediately preceding such RFR Interest Day, in each case, plus the applicable RFR Applicable Credit Adjustment Spread for the Interest Period in which such RFR Interest Day occurs, and (ii) 0.00%; and (b) for any RFR Loan denominated in CHF, the greater of (i) SARON for the RFR Reference Day that is five RFR Business Days prior to (A) if such RFR Interest Day is a RFR Business Day, such RFR Interest Day or (B) if such RFR Interest Day is not a RFR Business Day, the RFR Business Day immediately preceding such RFR Interest Day, in each case, plus the applicable RFR Applicable Credit Adjustment Spread for the Interest Period in which such RFR Interest Day occurs, and (ii) 0.00%. If by 5:00 p.m. (London time), on the second Business Day immediately following any RFR Reference Day, the applicable RFR Rate in respect of such RFR Reference Day has not been published on the applicable RFR Administrator’s Website and a Benchmark Replacement Date with respect to the applicable Daily Simple RFR has not occurred, then the RFR Rate for such RFR Reference Day will be the RFR Rate as published in respect of the first preceding RFR Business Day for which such RFR Rate was published on the RFR Administrator’s Website; provided that any RFR Rate as determined pursuant to this sentence shall be utilized for purposes of calculating the Daily Simple RFR for no more than three consecutive RFR Interest Days. Any change in Daily Simple RFR due to a change in the applicable RFR Rate shall be effective from and including the effective date of such change in such RFR Rate without notice to the Borrower.

  • Daily Simple SOFR means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion.

  • Daily Simple SOFR Loan means each Loan bearing interest at a rate based upon Daily Simple SOFR.

  • Daily Simple ▇▇▇▇▇ means, for any day (an “▇▇▇▇▇ Interest Day”), an interest rate per annum equal to the greater of (a) ▇▇▇▇▇ for the day that is five Business Days prior to (A) if such ▇▇▇▇▇ Interest Day is a Business Day, such ▇▇▇▇▇ Interest Day or (B) if such ▇▇▇▇▇ Interest Day is not a Business Day, the Business Day immediately preceding such ▇▇▇▇▇ Interest Day and (b) 0%.

  • Adjusted Daily Simple SOFR means an interest rate per annum equal to (a) the Daily Simple SOFR, plus (b) 0.10%; provided that if the Adjusted Daily Simple SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.