Example ContractsClausesCompounded Sofr
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Adjusted Term SOFR” means, for purposes of any calculation, the rate per annum equal to # Term SOFR for such calculation plus # the SOFR Adjustment; provided, that if Adjusted Term SOFR as so determined shall ever be less than the Floor, then Adjusted Term SOFR shall be deemed to be the Floor.

for any calculation with respect to a Term SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and

#Government Securities Business Days prior to # if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or # if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website, and # the Floor. If by (New York City time) on the second (2nd)

Rates. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, # the continuation of, administration of, submission of, calculation of or any other matter related to Adjusted Daily Simple SOFR, SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR or any other Benchmark,

Adjusted Daily Simple SOFR” means, for any Interest Period, a rate per annum equal to # with respect to Initial Term Loans and Incremental Amendment No. 1 Term Loans, Daily Simple SOFR plus 0.10% and # with respect to Revolving Credit Loans, Daily Simple SOFR plus 0.00%; provided that if Adjusted Daily Simple SOFR would be less than the Applicable Term SOFR Floor, such rate shall be deemed equal to the Applicable Term SOFR Floor.

Reference Time” with respect to any setting of the then-current Benchmark means # if such Benchmark is Daily Simple SOFR, then four (4) SOFR Business Days prior to # if the date of such setting is a SOFR Business Day, such date or # if the date of such setting is not a SOFR Business Day, the SOFR Business Day immediately preceding such date and # if such Benchmark is not Daily Simple SOFR, then the time determined by Lender in accordance with the Benchmark Replacement Conforming Changes (including, without limitation, with respect to Term SOFR).

than , # Administrative Agent and each Lender shall have determined that the Interest Period, Adjusted Term SOFR or Adjusted Daily Simple SOFR is available to Administrative Agent and such Lender and can be readily determined as of the date of the request for such SOFR Rate Loan by such Borrower, and # notwithstanding anything to the contrary contained in this Agreement or any other Financing Agreement, the outstanding principal amount of all Daily Simple SOFR Loans shall not exceed at any time. Any request by or on behalf of a Borrower for SOFR Rate Loans or to convert Base Rate Loans to SOFR Rate Loans or to continue any existing Term SOFR Rate Loans shall be irrevocable. Notwithstanding anything to the contrary contained herein, neither the Administrative Agent, nor any Lender, nor any of their Participants, is required actually to match fund any Obligation as to which interest accrues at Adjusted Daily Simple SOFR, SOFR, Adjusted Term SOFR or the Term SOFR Reference Rate.

for any calculation with respect to an ABR Loan on any day, the sum of # 0.10% per annum plus # the Term SOFR Reference Rate for a tenor of one month on the day (such day, the “ABR Term SOFR Determination Day”) that is two U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of (New York City time) on any ABR Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three U.S. Government Securities Business Days prior to such ABR SOFR Determination Day; provided, further, that if Term SOFR determined pursuant to this [clause (b)]) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor under this [clause (b)].

SOFR Borrowing” means a Borrowing comprised of SOFR Loans.

SOFR Spread Adjustment” means 0.10% for a Term SOFR Interest Period of 1 month and 0.15% for a Term SOFR Interest Period of 3 months.

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