Daily Simple SOFR. may prepay principal on any portion of this Note which bears interest determined in relation to Daily Simple SOFR, in any amount and without penalty.
the sum of: # the alternate benchmark rate that has been selected by the Administrative Agent and the Borrowers giving due consideration to # any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or # any evolving or then-prevailing market convention for determining a benchmark rate and an adjustment as a replacement to the then-current Benchmark
“Daily Simple SOFR Loan” shall mean any Daily Simple SOFR Term Loan or Daily Simple SOFR Revolving Loan.
Daily Simple SOFR plus the SOFR Adjustment;
“Daily SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”.
“Simple SOFR Determination Day” has the meaning specified therefor in the definition of Adjusted Daily Simple SOFR.
“Adjusted Daily Simple SOFR” means, with respect to the Revolving Loans, an interest rate per annum equal to Daily Simple SOFR; provided that, if Adjusted Daily Simple SOFR as so determined would be less than 0.00% per annum, such rate shall be deemed to be equal to 0.00% per annum for the purposes of this Agreement.
The Borrower shall pay interest on the unpaid principal amount of each Daily Simple SOFR Loan, if applicable pursuant to [Section 2.14], at the Adjusted Daily Simple SOFR plus the Applicable Margin.
“Daily Simple SOFR Adjustment” means 0.100%.
If the SOFR Successor Rate is Daily Simple SOFR plus the SOFR Adjustment, all interest payments will be payable on a monthly basis.
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