In June 2017, the Alternative Reference Rates Committee (the “ARRC”), a group of private-market participants convened by the Federal Reserve Board and the Federal Reserve Bank of New York, selected the Secured Overnight Financing Rate (“SOFR”) as the preferred alternativ...
as made available by the Federal Reserve Board of New York. The most recent index figure available as of the date 45 days before each change date will be used. This will be called the current index. Before each change date, the new interest rate will be calculated by adding the margin,...
First Read Hits & Takes John Lothian & JLN Staff President-elect Donald Trump rang the opening bell of the New York Stock Exchange today in celebration of his being named Time Magazine's Person of the Year. This was his second time ringing the NYSE's opening... Firms Outperform When There...
The loans shall bear interest at a rate per annum equal to (i) adjusted SOFR or (ii) an adjusted base rate, plus an applicable margin based on a utilization ratio of the lesser of the borrowing base and the aggregate commitments. The applicable margin ranges from 2.00% to 3.00...
All amounts borrowed under the Note will bear interest at a rate equal to the sum of (a) the floating interest rate of daily secured overnight financing rate as administered by theFederal Reserve Bank of New Yorkon its website, plus (b) 7.65%. The Note matures onMarc...
“NY Federal Reserve’s Website” means the website of the Federal Reserve Bank of New York at xxxx://xxx.xxxxxxxxxx.xxx (or any successor website). “Optional Redemption Comparable Treasury Issue” has the meaning set forth in Section 2.04 hereof. “Optional Redemption Comparable Treasury...