LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) LIBOR Business Days preceding the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston time, on the day that is two (2) LIBOR Business Days preceding the first day of such LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Centerline Holding Co), Revolving Credit and Term Loan Agreement (Centerline Holding Co)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, at which Dollar deposits for such Interest Period are offered based on information presented on Page LIBOR01 of the “Reuters System”) Service as of 11:00 a.m. London time on the day that is two second (22nd) LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Mandatory Reserve Rate. If the rate described above does not appear on the Reuters System Dow Xxxxx Market Service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two second (22nd) LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loan. A Loan bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 2 contracts
Samples: Credit Agreement (SeaCube Container Leasing Ltd.), Credit Agreement (Seacastle Inc.)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “at which Dollar deposits for such Interest Period are offered based on information presented on Reuters System”) Screen LIBOR01 page as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters System Screen LIBOR01 page on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Revolving Credit Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 2 contracts
Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (SeaCube Container Leasing Ltd.)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determineddetermined and §4.6 shall apply. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage.
Appears in 2 contracts
Samples: Term Credit Agreement (Emeritus Corp\wa\), Term Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determined. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage.
Appears in 2 contracts
Samples: Revolving and Term Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Real Estate Group Inc.)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time at which Dollar deposits for such Interest Period are offered based on information presented on Reuters Screen LIBOR01 Page (or any successor thereto) that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to time) (collectivelysuch Interest Period, the “Reuters System”) as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of the such Interest Period applicable divided by (ii) a number equal to such LIBOR Rate Loan; provided, however, if 1.00 minus the Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters System Telerate screen on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage reserve requirement with respect to LIBOR Rate deposits of any Lenderthe Lenders, then for any period during which such Reserve Percentage reserve requirement shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1.00) minus the Eurocurrency Reserve PercentageRate. LIBOR Rate Loan(s). Those Loans bearing interest calculated by reference to the LIBOR Rate. Lien. See §9.2.
Appears in 2 contracts
Samples: Credit Agreement (Sovran Self Storage Inc), Credit Agreement (Sovran Acquisition LTD Partnership)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determineddetermined and §4.6 shall apply. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. LIBOR Rate Loans. Those Loans bearing interest calculated by reference to the LIBOR Rate.
Appears in 1 contract
Samples: Term Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “Reuters System”) at which Dollar deposits for such Interest Period are offered based on information presented on Telerate Page 3750 as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (b) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Revolving Credit Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 1 contract
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “at which Dollar deposits for such Interest Period are offered based on information presented on Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of the such Interest Period applicable to such LIBOR Rate Loan; provided, however, if Period. If the rate described above does not appear on the Reuters System Screen LIBOR01 Page on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In As used herein, “Reuters Screen LIBOR01 Page” means the event that display page currently so designated on the Board Reuters Monitor Money Rates Service (or such other page as may replace such page on such service for the purpose of Governors of displaying the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate rates at which dollar deposits of any Lenderare offered by leading banks in the London interbank deposit market), then for any period during which such Reserve Percentage shall apply, as reported by Bloomberg Financial Markets Commodities News (or by another source selected by the LIBOR Rate shall be equal Administrative Agent and notified by the Administrative Agent to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageManager).
Appears in 1 contract
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “Reuters System”) Bank at which Dollar deposits for such Interest Period are offered based on information presented on Telerate Page 3750 as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (b) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative AgentBank. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent Bank is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors LIBOR Rate Loans. All or any portion of the Federal Reserve System shall impose a Reserve Percentage with respect Loans bearing interest calculated by reference to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 1 contract
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “Reuters System”) Bank at which Dollar deposits for such Interest Period are offered based on information presented on Telerate Page 3750 as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate LoanEurocurrency Reserve Rate, if applicable; provided, however, if the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upwards as described above, if necessary, for deposits in dollars for a period substantially equal to the nearest one hundred-thousandth interest period on the Reuters Page "LIBO" (or such other page as may replace the LIBO Page on that service for the purpose of a percentage pointdisplaying such rates), as of 11:00 a.m. (London Time), on the second LIBOR Business Day prior to the first day of such Interest Period. If both the Telerate and Reuters system are unavailable, then the rate for that date will be determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by up to four major banks in the London interbank market markets at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period of such LIBOR Rate Loan as selected by the Administrative AgentBank. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars U.S. dollars to leading European banks for a period of time comparable to such Interest Period LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business Days preceding the first day of such LIBOR Rate Loan. In the event that the Administrative Agent Bank is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Any Revolving Credit Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 1 contract
Samples: Revolving Credit Agreement (Transact Technologies Inc)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determined. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. LIBOR Rate Loans. Those Loans bearing interest calculated by reference to the LIBOR Rate. LIBOR Rate Spread. The per annum rate of four percent (4%). Liens. See §8.2.
Appears in 1 contract
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “at which Dollar deposits for such Interest Period are offered based on information presented on Reuters System”) Screen LIBOR01 page as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters System Screen LIBOR01 page on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Revolving Credit Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 1 contract
Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determineddetermined and §4.6 shall apply. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. In the event the LIBOR Rate shall be less than zero, the LIBOR Rate shall be deemed zero for the purposes of this Agreement.
Appears in 1 contract
Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
LIBOR Rate. For any Interest Period with respect to a LIBOR Libor Rate Loan, means, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Libor Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate Dow Jxxxx Market Service (“BBA LIBOR”), formerly known as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to timeTelerate Service) (collectively, the “Reuters System”) page 3750 as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to such LIBOR Libor Rate Loan; provided, however, if the rate described above does not appear on the Reuters System Dow Jxxxx Market Service on any applicable interest determination date, the LIBOR Libor Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Libor Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such Interest Period Libor Rate Loan, as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period Libor Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business Days preceding the first day of such LIBOR Libor Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Libor Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Libor Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Libor Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage. Libor Rate Loan(s). Loans bearing interest calculated by reference to the Libor Rate.
Appears in 1 contract
Samples: Revolving Credit Agreement (First Potomac Realty Trust)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as of interest equal to (i) the rate determined by the Agent at which Dollar deposits for such Interest Period are offered based on the basis information presented on Page 3750 of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is equal to Dow Xxxxx Market Service (formerly known as the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”Telerate Service) as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters System Dow Xxxxx Market Service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Revolving Credit Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
Appears in 1 contract
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate Dow Xxxxx Market Services (“BBA LIBOR”f/k/a Telerate News Services), page 3750, titled as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) British Banker Association Interest Settlement Rates,” as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundredone-thousandth hundredth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding before the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the 10 rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business Days preceding before the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determined. In such event, the Loan shall bear interest at the Prime Rate as adjusted by the Applicable Margin. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lenderthe Agent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage. LIBOR Rate Loans. Loans bearing interest calculated by reference to a LIBOR Rate. Loan or Loans. An individual term loan or the aggregate term loans, as the case may be, to be made by the Lenders on the Effective Date hereunder as provided in §2.2.
Appears in 1 contract
Samples: Term Loan Agreement (California Coastal Communities Inc)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) at which Dollar deposits for such Interest Period are offered based on information presented on Page 3750 of the Dow Xxxxx Market Service (collectively, formerly known as the “Reuters System”Telerate Service) as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters System Dow Xxxxx Market Service (formerly known as the Telerate Service) on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In LIBOR Rate Loans. Loans bearing interest calculated by reference to the event that LIBOR Rate. Lien. Any mortgage, deed of trust, security interest, pledge, hypothecation, assignment, attachment, deposit arrangement, encumbrance, lien (statutory, judgment or otherwise), or other security agreement or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any Capitalized Lease, any Synthetic Lease, any financing lease involving substantially the Board of Governors same economic effect as any of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits foregoing and the filing of any Lender, then for financing statement under the UCC or comparable law of any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentagejurisdiction).
Appears in 1 contract
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determineddetermined and §4.6 shall apply. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. LIBOR Rate Loans. Those Revolving Loans bearing interest calculated by reference to the LIBOR Rate.
Appears in 1 contract
Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
LIBOR Rate. For As applicable to any Interest Period with respect to a for any LIBOR Rate Loan, the rate per annum (rounded upwards, if necessary, to the nearest 1/32nd of one percent) as determined on the basis of the offered rates for deposits in Dollars, for a the period of time comparable to such LIBOR Rate Loan Interest Period which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Telerate page 3750 as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the such Interest Period applicable to such LIBOR Rate LoanPeriod; provided, however, if the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upwards as described above, if necessary, ) for deposits in Dollars for a period substantially equal to the nearest one hundred-thousandth Interest Period on the Reuters Page "LIBO" (or such other page as may replace the LIBO Page on that service for the purpose of a percentage pointdisplaying such rates), as of 11:00 a.m. (London Time), on the day that is two (2) LIBOR Business Days prior to the beginning of such Interest Period. If both the Telerate and Reuters systems are unavailable, then the rate for that date will be determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan Interest Period which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar U.S. dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requestedprovided, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston (New York City time), on the day that is two (2) LIBOR Business Days preceding the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determineddetermined and the provisions of Section 4.6 shall apply. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Appears in 1 contract
Samples: Revolving Loan Agreement (Ramco Gershenson Properties Trust)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determineddetermined 6231593.9\0334186 and §4.6 shall apply. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. LIBOR Rate Loans. Those Loans bearing interest calculated by reference to the LIBOR Rate. LIBOR Rate Spread. The per annum rate of four percent (4.0%).
Appears in 1 contract
Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determined. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. LIBOR Rate Loans. Those Loans bearing interest calculated by reference to the LIBOR Rate.
Appears in 1 contract
Samples: Revolving and Term Credit Agreement (Forestar Group Inc.)
LIBOR Rate. For any Interest Period with respect to a LIBOR Eurocurrency Rate LoanLoan denominated in Dollars, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “Reuters System”) at which Dollar deposits for such Interest Period are offered based on information presented on Telerate Page 3750 as of 11:00 a.m. (London time time) on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (b) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. (London time, ) on the date that is two (2) LIBOR second Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston (New York City time, ) on the day that is two (2) LIBOR second Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Eurocurrency Rate Loan denominated in Dollars cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Appears in 1 contract
LIBOR Rate. For any Interest Period The term "LIBOR Rate" means, with respect to a any LIBOR ---------- Rate LoanAdvance, the interest rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest 1/32 of one hundred-thousandth of a percentage pointpercent), as determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period selected or deemed selected by Borrower for such LIBOR Rate Loan Advance which appear on the Telerate page 3750 as of 11:00 a.m. London time on the day that is two (2) London Banking Days preceding the first day of such LIBOR Rate Advance. If such rate does not appear on the Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward as described above, if necessary) for deposits in Dollars for a period substantially equal to the Interest Period on the Reuters Page "LIBO" (or such other page as may replace the LIBO Page on that service for the purpose of displaying such rates), as of 11:00 a.m. (London time), on the day that is two (2) London Banking Days prior to the beginning of such Interest Period. If both the Telerate and Reuters system are unavailable, then the rate for that date will be determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Advance which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business London Banking Days preceding the first day of such Interest Period as selected by the Administrative AgentLIBOR Rate Advance. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Advance offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business London Banking Days preceding the first day of such LIBOR Rate LoanAdvance. In the event that the Administrative Agent Bank is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a for such LIBOR Rate Loan Advance cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any the Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
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Samples: Wpi Group Inc
LIBOR Rate. For As applicable to any Interest Period with respect to a for any LIBOR Rate Loan, the rate per annum (rounded upwards, if necessary, to the nearest 1/32nd of one percent) as determined on the basis of the offered rates for deposits in Dollars, for a the period of time comparable to such LIBOR Rate Loan Interest Period which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Telerate page 3750 as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the such Interest Period applicable to such LIBOR Rate LoanPeriod; provided, however, if the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upwards as described above, if necessary, ) for deposits in Dollars for a period substantially equal to the nearest one hundred-thousandth Interest Period on the Reuters Page "LIBO" (or such other page as may replace the LIBO Page on that service for the purpose of a percentage pointdisplaying such rates), as of 11:00 a.m. (London Time), on the day that is two (2) LIBOR Business Days prior to the beginning of such Interest Period. If both the Telerate and Reuters systems are unavailable, then the rate for that date will be determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan Interest Period which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar U.S. dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requestedprovided, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston (New York City time), on the day that is two (2) LIBOR Business Days preceding the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determineddetermined and the provisions of Section 4.6 shall apply. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage. LIBOR Rate Loans. Loans bearing interest calculated by reference to a LIBOR Rate.
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Samples: Master Revolving Credit Agreement (Ramco Gershenson Properties Trust)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “Reuters System”) at which Dollar deposits for such Interest Period are offered based on information presented on Telerate Page 3750 as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
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LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is interest equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated rate determined by the Administrative Agent from time to time) (collectively, the “Reuters System”) at which Dollar deposits for such Interest Period are offered based on information presented on Telerate Page 3750 as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (b) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate LoanEurocurrency Reserve Rate, if applicable; provided, however, if the rate described above does not appear on the Reuters Telerate System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars U.S. dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business London Banking Days preceding the first day of such Interest Period LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its U.S. Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars U.S. dollars to leading European banks for a period of time comparable to such Interest Period LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business London Banking Days preceding the first day of such LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, Loans. Revolving Credit Loans bearing interest calculated by reference to the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve PercentageRate.
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LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is equal to the British Bankers Association LIBOR Rate (“"BBA LIBOR”"), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “"Reuters System”") as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) LIBOR Business Days preceding the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business Days preceding the first day of such LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Appears in 1 contract
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate Dow Xxxxx Market Services (“BBA LIBOR”f/k/a Telerate News Services), page 3750, titled as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) British Banker Association Interest Settlement Rates,” as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundredone-thousandth hundredth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding before the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) LIBOR Business Days preceding before the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determined. In such event, the Loan shall bear interest at the Prime Rate as adjusted by the Applicable Margin. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lenderthe Agent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage. LIBOR Rate Loans. Loans bearing interest calculated by reference to a LIBOR Rate.
Appears in 1 contract
Samples: Entire Agreement (California Coastal Communities Inc)
LIBOR Rate. For As applicable to any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined on the basis of the offered rates for deposits in Dollars, for a period of time comparable to the Interest Period for such LIBOR Rate Loan which is equal to appears on the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) (collectively, the “Reuters System”) Screen LIBOR01 Page as of 11:00 a.m. London time on the day that is two (2) LIBOR Business Days preceding the first day of the Interest Period applicable to for such LIBOR Rate Loan; provided, however, if the rate described above does not appear on the Reuters System such service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to the Interest Period for such LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. London time, on the date day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan as selected by the Administrative Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such the Interest Period for such LIBOR Rate Loan offered by major banks in New York City at approximately 11:00 a.m. Boston (eastern time), on the day that is two (2) LIBOR Business Days preceding the first day of such the Interest Period for the LIBOR Rate Loan. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed that the LIBOR Rate pursuant to for a LIBOR Rate Loan cannot be determineddetermined and §4.6 shall apply. In such event, the Loan shall bear interest at the Base Rate. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any LenderAgent, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 one (1) minus the Reserve Percentage. In the event the LIBOR Rate shall be less than zero, the LIBOR Rate shall be deemed zero for the purposes of this Agreement. LIBOR Rate Loans. Those Revolving Loans bearing interest calculated by reference to the LIBOR Rate.
Appears in 1 contract
Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
LIBOR Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as of interest equal to (i) the rate determined by the Administrative Agent at which Dollar deposits for such Interest Period are offered based on the basis information presented on Page 3750 of the offered rates for deposits in Dollars, for a period of time comparable to such LIBOR Rate Loan which is equal to Dow Jones Market Service (formerly known as the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or Telerate Service) xx xxch other commercially available source providing quotations of BBA LIBOR as such information and designated by the Administrative Agent from time to time) (collectivelyAgent, the “Reuters System”) as of 11:00 a.m. London time on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period, divided by (ii) a number equal to 1.00 minus the Interest Period applicable to such LIBOR Rate Loan; provided, however, if Eurocurrency Reserve Rate. If the rate described above does not appear on the Reuters System Dow Jones Market Service or such other commercially available source xxxxxding such information and designated by the Administrative Agent on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the date that is two (2) second LIBOR Business Days preceding Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. Boston New York City time, on the day that is two (2) second LIBOR Business Days preceding Day prior to the first day of such LIBOR Rate LoanInterest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be deemed considered that the LIBOR Rate pursuant to a LIBOR Rate Loan cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of any Lender, then for any period during which such Reserve Percentage shall apply, the LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Appears in 1 contract
Samples: Revolving Credit Agreement (Quaker Fabric Corp /De/)