Term SOFR Interest Period

Term SOFR Interest Period. Means with respect to that portion of a Credit Extension bearing interest based on Term SOFR, a period of 1 month or 3 months, solely to the extent that the Existing Loan Documents permit a LIBOR interest period of 3 months, commencing on a SOFR Business Day as selected by the Borrower hereunder in accordance with this Amended Loan Document, or on such other SOFR Business Day as is acceptable to the Lender and Borrower hereunder; provided, however, that (a) if any Term SOFR Interest Period... would end on a day other than a Business Day, such Term SOFR Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Term SOFR Interest Period shall end on the next preceding Business Day, (b) any Term SOFR Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Term SOFR Interest Period) shall end on the last Business Day of the last calendar month of such Term SOFR Interest Period, (c) unless agreed by the Lender hereunder in its sole discretion, no Term SOFR Interest Period shall extend beyond the maturity date of the Amended Agreement and (d) no tenor that has been removed from this definition pursuant to the applicable provisions of the Amended Loan Documents shall be available for specification in any borrowing request. View More

Term SOFR Interest Period. With respect to any amount to which the Term SOFR Rate Option applies, the period of one (1) month (subject to the availability thereof) as selected by the Borrower, commencing on the date of disbursement of such amount (or the date of conversion of any amount to the Term SOFR Rate Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that: (A)if a Term SOFR Interest Period would end on a day that is not a Business Day, it shall end on the next... succeeding Business Day unless such day falls in the next succeeding calendar month in which case the Term SOFR Interest Period shall end on the next preceding Business Day; (B)the Borrower may not select a Term SOFR Interest Period that would end on a day after the Expiration Date; and (C)any Term SOFR Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Term SOFR Interest Period) shall end on the last Business Day of the last calendar month of such Term SOFR Interest Period. View More