Adjusted Interbank Offered Rate definition
Adjusted Interbank Offered Rate as applicable to any Interest Period means a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100 of 1%) by dividing (i) the Interbank Offered Rate applicable during such Interest Period by (ii) 1.00 minus the Euro-Dollar Reserve Percentage.
Adjusted Interbank Offered Rate applicable to any Settlement Period means a rate per annum equal to the quotient obtained (rounded upwards, if necessary, to the next higher 1/100 of 1%) by dividing (a) the applicable IBOR for such Settlement Period by (b) 1.00 minus the applicable IBOR Reserve Percentage.
Adjusted Interbank Offered Rate means, with respect to any Alternative Rate Borrowing for any Interest Period, an interest rate per annum equal to the product of (a) the Interbank Offered Rate in effect for such Interest Period, and (b) Statutory Reserves; provided, however, that if at any time the Adjusted Interbank Offered Rate calculated as provided above shall be lower than the Adjusted Interbank Offered Rate Floor, the Adjusted Interbank Offered Rate shall be deemed to be equal to the Adjusted Interbank Offered Rate Floor solely in respect of Alternative Rate Term Loans for the purposes of this Agreement.
More Definitions of Adjusted Interbank Offered Rate
Adjusted Interbank Offered Rate applicable to any Interest Period means a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100 of 1%) by dividing (i) the applicable Interbank Offered Rate by (ii) 1.00 minus the Euro-Dollar Reserve Percentage.
Adjusted Interbank Offered Rate means, with respect to each Interest Period, the sum of (i) the rate obtained by dividing (A) the Interbank Offered Rate for such Interest Period by (B) a percentage equal to 1 minus the then stated maximum rate (stated as a decimal) of all reserve requirements (including, without limitation, any marginal, emergency, supplemental, special or other reserves) applicable to any member bank of the Federal Reserve System as defined in Regulation D (or against any successor category of liabilities as defined in Regulation D), plus (ii) a percentage sufficient to compensate the Bank for the cost of complying with any reserves, liquidity and/or special deposit requirements of any other foreign governmental or regulatory authority directly or indirectly affecting the maintenance or funding of the Third Additional Term Loan.
Adjusted Interbank Offered Rate has the meaning set forth in Section 2.08(b).