SOFR Business Day definition

SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

SOFR Business Day means a business day determined in accordance with the SOFR publication calendar of the Federal Reserve Bank of New York.

SOFR Business Day means a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.C.

Examples of SOFR Business Day in a sentence

• Each Request for Draw must be received by the Purchaser not later than 12:00 noon Cleveland, Ohio time (9:00 a.m. Pacific time) one SOFR Business Day immediately prior to the requested date of the Draw (the “Draw Date”).

• The Issuer Owner Trustee will not have any obligation to determine SOFR, 30-day average SOFR, any SOFR Determination Date, or any SOFR Business Day, will have no liability for any such determinations made by the Indenture Trustee and will have no obligation to determine any alternative benchmark rate adopted by the Sponsor.

• For any day (a “SOFR Rate Day”), a rate per annum equal to SOFR for the day (such day, the “ SOFR Determination Day”) that is five (5) SOFR Business Days prior to (i) if such SOFR Rate Day is a SOFR Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a SOFR Business Day, the SOFR Business Day immediately preceding such SOFR Rate Day, in each case, as and when SOFR for such SOFR Rate Day is published by the Daily Simple SOFR Administrator on the SOFR Administrator’s Website.

• A Notice of Conversion/Continuation received after 10:00 a.m. shall be deemed received on the next Business Day, Term SOFR Business Day or CDOR Business Day, as applicable.

• A Notice of Borrowing received after 10:00 a.m. shall be deemed received on the next Business Day, Term SOFR Business Day or CDOR Business Day, as applicable.

More Definitions of SOFR Business Day

SOFR Business Day means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

SOFR Business Day means any day (other than a Saturday or Sunday) on which banks generally are open in New York City, New York for the conduct of substantially all of their commercial lending activities and interbank wire transfers can be made on the Fedwire system except a day on which the Securities Industry and Financial Markets Association (SIFMA) recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

SOFR Business Day means any day which is aU.S. Government Securities Business Day and is not a legal holiday in the state of New York and is not a date on which banking institutions in those cities are authorised or required by law or regulation to be closed.

SOFR Business Day means a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.C. “SOFR Determination Time” means 3:00 p.m. (New York time) on a U.S. Government Securities Business Day, or any other time at which Term SOFR is published on the Federal Reserve Bank of New York’s Website. “Solvent” means, with respect to any Person as of a particular date, that on such date (i) such Person is able to pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (ii) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature in their ordinary course, (iii) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a transaction, for which such Person’s assets would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged or is to engage, (iv) the fair value of the assets of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person and (v) the aggregate fair saleable value (i.e., the amount that may be realized within a reasonable time, considered to be six months to one year, either through collection or sale at the regular market value, conceiving the latter as the amount that could be obtained for the assets in question within such period by a capable and diligent businessman from an interested buyer who is willing to purchase under ordinary selling conditions) of the assets of such Person will exceed its debts and other liabilities (including contingent, subordinated, unmatured and unliquidated debts and liabilities). For purposes of this definition, “debt” means any liability on a claim, and “claim” means (i) a right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured, or (ii) a right 747656567 17557858 47 Fifth Amended and Restated Warehouse Loan Agreement

SOFR Business Day. Any day except for (i) a Saturday, (ii) a Sunday, (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities, or (iv) a day on which the Federal Reserve Bank of New York, with advance notice, chooses not to publish its Treasury repurchase agreement reference rates if participants in the Treasury repurchase agreement market broadly expect to treat that day as a holiday.

SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and

SOFR Business Day means each day on which CME publishes the SOFR Index.