Term-SOFR-Concept-Credit-Agreement-Term-Loan-August-25-2021

This document illustrates a term loan facility referencing Term SOFR as its benchmark rate of interest.

Members must bear in mind that this concept document does not purport to represent or set any standard market practice. It has been developed simply as a tool to further familiarize market participants with replacement benchmark alternatives, in this case Term SOFR, which will hopefully further assist each institution with its own transition planning.

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Term-SOFR-Concept-Credit-Agreement-Term-Loan-August-25-2021.docx

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