Examples of Three-Month LIBOR in a sentence
After December 15, 2016, if the Series A Preference Shares have not been redeemed or repurchased, they bear a non-cumulative, non-mandatory dividend rate of Three-Month LIBOR (as defined in the Series A Certificate of Designations) plus 3.557%, which is payable quarterly on the 15th day of March, June, September and December of each year, beginning on March 15, 2017, upon declaration by the Board of Directors.
Three-Month LIBOR is calculated as set forth under "Description of the Notes—Interest"; provided that LIBOR for the initial Interest Accrual Period will be calculated as set forth in the definition of the term "LIBOR".
If at least two such quotations are so provided, then Three-Month LIBOR on such Dividend Determination Date will be the arithmetic mean calculated by the Calculation Agent of such quotations.
The establishment of Three-Month LIBOR for each Dividend Period by the Calculation Agent (including, for the avoidance of doubt, at the direction of the Corporation in the case of clause (iii)) or IFA, as applicable, shall (in the absence of manifest error) be final and binding.
Bids and offers shall be quoted in Three-Month LIBOR index points or 100 minus the three-month Eurodollar Interbank Time Deposit rate over a 360-day year.