Calculation of LIBOR Rate Clause Samples
The "Calculation of LIBOR Rate" clause defines how the London Interbank Offered Rate (LIBOR) is determined for the purposes of the agreement. It typically outlines the specific source or publication used to obtain the LIBOR rate, the relevant currency and period, and the time at which the rate is fixed. For example, it may specify that the rate is taken from a particular financial service provider on a set date before an interest period begins. This clause ensures consistency and transparency in calculating interest payments, reducing disputes and ambiguity over the applicable rate.
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Calculation of LIBOR Rate. The provisions of this Agreement relating to calculation of the LIBOR Rate are included only for the purpose of determining the rate of interest or other amounts to be paid hereunder that are based upon such rate, it being understood that each Lender shall be entitled to fund and maintain its funding of all or any part of a LIBOR Advance as it sees fit.
Calculation of LIBOR Rate. The provisions of this Agreement relating to calculation of the LIBOR Rate are included only for the purpose of determining the rate of interest or other amounts to be paid hereunder that are based upon such rate, it being understood that each Lender shall be entitled to fund and maintain its funding of all or any part of a LIBOR Loan as it sees fit. All such determinations hereunder, however, shall be made as if each Lender had actually funded and maintained funding of each LIBOR Loan through the purchase in the London interbank market of one or more eurodollar deposits, in an amount equal to the principal amount of such Loan and having a maturity corresponding to the Interest Period for such Loan.
Calculation of LIBOR Rate. The provisions of this Agreement relating to calculation of the LIBOR Rate are included only for the purpose of determining the rate of interest or other amounts to be paid hereunder that are based upon such rate. It is acknowledged that each Bank shall be entitled to fund and maintain any LIBOR Advance as it sees fit. All determinations hereunder, however, shall be made as if each Bank had actually funded and maintained each LIBOR Advance through the purchase in the London Interbank Market of one or more eurodollar deposits in an amount equal to the principal amount of such Advance and having a maturity corresponding to its Interest Period.
Calculation of LIBOR Rate. (a) The Company hereby agrees that for so long as the Senior Notes remains outstanding, LIBOR shall be calculated in respect of each Interest Payment Date in accordance with the terms of Schedule A.
(b) LIBOR shall be calculated by the Holders, with the Consent of the Holders if there is more than one Holder, no event later than 11:00 A.M. (London time) on the Business Day immediately following each LIBOR Determination Date (the interest payment shall be rounded to the nearest cent, with half a cent being rounded upwards) for the related Interest Payment Date. For the sole purpose of calculating the interest rate for the Senior Notes, “Business Day” shall be defined as any day on which dealings in deposits in Dollars are transacted in the London interbank market. Absent manifest error the Holders determination of the LIBOR rates and amounts for any Interest Payment Date will (in the absence of manifest error) be final and binding upon all parties (including all Holders).