Term SOFR Interest Period

Example Definitions of "Term SOFR Interest Period"
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
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