As required by the STCs, the SOFR Calculator uses the daily simple SOFR published by the New York Fed on the New York Fed website at approximately 8:00 a.m. ET setting forth the rate for the prior Business Day. For any given period, the SOFR Calculator takes the arithmetic mean of the SOFR for each day in the period. For any day that the New York Fed does not publish a SOFR, the previous day's rate is used. For example, SOFR is not published on weekends, so the rate for Saturday and Sunday is Friday's rate. For any weekday holiday on which SOFR is not published, the last published SOFR is used for that day.