Example ContractsClausesDaily Simple SOFR; Or
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Adjusted Daily Simple SOFR” shall mean an interest rate per annum equal to # the Daily Simple SOFR plus # 0.10% per annum; provided that if the Adjusted Daily Simple SOFR as so determined would be less than zero, such rate shall be deemed to be zero.

Daily Simple SOFR Loan” means any Loan that bears interest at a rate determined by reference to the Adjusted Daily Simple SOFR.

#Government Securities Business Day immediately following any Daily SOFR Determination Day, SOFR in respect of such Daily SOFR Determination Day has not been published on the SOFR Administrator’s Website and a Benchmark Replacement Date with respect to Daily Simple SOFR has not occurred, then SOFR for such Daily SOFR Determination Day will be SOFR as published in respect of the first preceding U.S. Government Securities Business Day for which such SOFR was published on the SOFR Administrator’s Website; provided, further, that SOFR as determined pursuant to this proviso shall be utilized for purposes of calculation of Daily Simple SOFR for no more than three consecutive Daily SOFR Rate Days. Notwithstanding anything to the contrary, if Daily Simple SOFR as so determined shall ever be less than the Floor, then Daily Simple SOFR shall be deemed to be the Floor.

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.

Daily Simple SOFR” means, for any day, a rate per annum equal to the greater of # the sum of # 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 plus # the Daily Simple SOFR Adjustment, and # the Floor.

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Notwithstanding the foregoing, in no event shall the Borrowers be permitted to request pursuant to this [Section 2.03] a CBR Loan or, prior to a Benchmark Transition Event and Benchmark Replacement Date with respect to # the Term SOFR Rate, an RFR Loan bearing interest based on Daily Simple SOFR or # Term CORRA, an RFR Loan bearing interest based on Daily Simple CORRA (it being understood and agreed that a Central Bank Rate, the Canadian Prime Rate, Daily Simple SOFR and Daily Simple CORRA shall only apply to the extent provided in [Sections 2.08(e)] (solely with respect to the Central Bank Rate and the Canadian Prime Rate), 2.14(a) and 2.14(f), as applicable).

the sum of (a)Adjusted Daily Simple SOFR and # the related Benchmark Replacement Adjustment;

If the Successor Rate is Daily Simple SOFR plus the SOFR Adjustment, all interest payments will be payable on a monthly basis.

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