NIBOR Sample Clauses
The NIBOR clause defines the Norwegian Interbank Offered Rate as the reference interest rate for financial transactions or loan agreements. In practice, this clause specifies that interest calculations will be based on the prevailing NIBOR rate, which is published daily and reflects the rate at which Norwegian banks lend to one another. By referencing NIBOR, the clause ensures that interest payments are tied to a transparent and widely recognized market rate, thereby providing clarity and fairness in determining variable interest obligations.
NIBOR. Should the contents of the Reuters page be changed such that, in the opinion of the Loan Trustee and the Borrower, the interest rates shown no longer represent the same kind of interest rates as when the Loan was disbursed, or the relevant page is removed the Reuters system, another news page shall be used. This page may be another Reuters’ page or, possibly, that of another electronic news agency, if it, in the opinion of the Loan Trustee, specifies the same kind of interest rates as Reuters did on the disbursement of the loan. Any disagreement of opinion between the Borrower and the Loan Trustee concerning the use of a new page must be treated as described in sub- clause 9.3 of the Loan Agreement.