as to Tranche A Revolving Loans that are Daily Simple SOFR Loans, a rate equal to the then Applicable Margin for such Daily Simple SOFR Loans on a per annum basis plus Adjusted Daily Simple SOFR;
“Daily Simple SOFR Revolving Facility Borrowing” shall mean a Borrowing comprised of Daily Simple SOFR Revolving Loans.
“Adjusted Daily Simple SOFR” means a rate per annum equal to the sum of (a) Daily Simple SOFR plus (b) the SOFR Rate Margin.
“Daily Simple SOFR Adjustment” means 0.10000%.
“SOFR-Based Rate” means Daily Simple SOFR and the Term SOFR Reference Rate, as applicable.
“SOFR” has the meaning specified in the definition of “Daily Simple SOFR.”
Securities Business Day, the U.S. Government Securities Business Day immediately preceding such Simple SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website; provided that if by on the second (2nd) U.S. Government Securities Business Day immediately following any Simple SOFR Determination Day, SOFR in respect of such Simple SOFR Determination Day has not been published on the SOFR Administrator’s Website and a Benchmark Replacement Date with respect to Adjusted Daily Simple SOFR has not occurred, then SOFR for such Simple 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 Adjusted Daily Simple SOFR for no more than three (3) consecutive Simple SOFR Rate Days and # the Simple SOFR Adjustment and # the Floor. Any change in Adjusted Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice to any Borrower.
The Loans comprising each Daily Simple SOFR Borrowing (if such Type of Loans is outstanding as a result of the application of [Section 2.13]) shall bear interest at Adjusted Daily Simple SOFR plus the Applicable Rate.
“Daily SOFR Determination Day” has the meaning specified in the definition of “Daily Simple
the sum of: # Daily Simple SOFR and # the related Benchmark Replacement Adjustment; or
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