Adjusted Daily Simple SOFR

Example Definitions of "Adjusted Daily Simple SOFR"
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 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
Found in Automatic Data Processing contract
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