Extract to table

00%; provided that for purposes of clause (c), Adjusted Term SOFR shall be determined on such day based upon the Term SOFR Screen Rate at approximately 5:00 a

Any change in the Alternate Base Rate due to a change in the prime rate, the Federal Funds Effective Rate or Adjusted Term SOFR shall be effective from and including the effective date of such change

The Applicable Margin shall range from 2

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee, and accepted by the Administrative Agent, substantially in the form of Exhibit C or such other form as shall be approved by the Administrative Agent

“Benchmark Replacement” means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date: (1) the sum of (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark giving due consideration to any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body for syndicated credit facilities denominated in Dollars and (b) the related Benchmark Replacement Adjustment; (2) Daily Simple SOFR plus the related Benchmark Replacement Adjustment; and (3) the sum of (a) the alternate benchmark rate selected by the Administrative Agent and the Borrower in consultation with the Lenders and (b) the related Benchmark Replacement Adjustment; provided that, in each case, such Benchmark Replacement shall not include any tenor that has been removed from the definition of “Interest Period” pursuant to Section 2

“Collateral Coverage Ratio” means, as of any date of determination, the ratio, expressed as a percentage, of (a) the aggregate Fair Market Value of the Mortgaged Vessels as most recently determined by Approved Appraisers in accordance with this Agreement to (b) the total outstanding Obligations (excluding undrawn contingent obligations not then drawn, other than LC Exposure), which ratio shall at all times be not less than 140%