Calculation of LIBOR. Until the Certificate Principal Balance of each of the Adjustable Rate Certificates has been reduced to zero, LIBOR for the initial Interest Accrual Period shall be 1.31%, and for any Interest Accrual Period thereafter, the Trustee, if any, shall establish LIBOR on each LIBOR Determination Date as follows:
(a) If on such LIBOR Determination Date a rate for United States dollar deposits for one month appears on the Dow Xxxxx Telerate System, page 3750, LIBOR for the next Interest Accrual Period shall be equal to such rate as of 11:00 a.m., London time;
(b) If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, such other service for displaying LIBOR or comparable rates as may be selected by the Servicer), the rate shall be determined as follows:
(i) The Servicer on the LIBOR Determination Date will request the principal London offices of each of four major reference banks in the London interbank market, as selected by the Servicer, to provide the Servicer with its offered quotation for deposits in United States dollars for the upcoming one-month period, commencing on the second LIBOR Business Day immediately following such LIBOR Determination Date, to prime banks in the London interbank market at approximately 11:00 a.m. London time on such LIBOR Determination Date and in a principal amount that is representative for a single transaction in United States dollars in such market at such time. If at least two such quotations are provided, LIBOR determined on such LIBOR Determination Date will be the arithmetic mean of such quotations.
(ii) If fewer than two quotations are provided, LIBOR determined on such LIBOR Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m. in New York City on such LIBOR Determination Date by three major banks in New York City selected by the Trustee for one-month United States dollar loans to leading European banks, in a principal amount that is representative for a single transaction in United States dollars in such market at such time; PROVIDED, HOWEVER, that if the banks so selected by the Servicer are not quoting as mentioned in this sentence, LIBOR determined on such LIBOR Determination Date will continue to be LIBOR as then currently in effect on such LIBOR Determination Date.
(c) The establishment of LIBOR on each LIBOR Determination Date by the Servicer, if any, and the Servicer's calculation of th...
Calculation of LIBOR. LIBOR applicable to the calculation of the Pass-Through Rate on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest Determination Date. On each Interest Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London" time, on such Interest Determination Date. "
Calculation of LIBOR. Until the Principal Balance of each Class of the Notes has been reduced to zero, the Administrator shall establish LIBOR on each LIBOR Determination Date as follows:
(i) If on such LIBOR Determination Date a rate for United States dollar deposits for one month appears on the Dow Jxxxx Telerate System, page 3750, LIBOR for the next Accrual Period shall be equal to such rate as of 11:00 A.M., London time;
(ii) If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, such other service for displaying LIBOR or comparable rates as may be selected by the Administrator after consultation with the Servicer), the rate shall be determined as follows:
Calculation of LIBOR. LIBOR applicable to the calculation of the Pass-Through Rate on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest Determination Date. On each Interest Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London time, on such Interest Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Administrator), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. dollars are offered by the reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, selected by the Securities Administrator) as of 11:00 a.m., London time, on the Interest Determination Date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. The Securities Administrator will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date for loans in U.S. dollars to leading European banks for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date; provided,...
Calculation of LIBOR. (a) On each Interest Determination Date, the Trustee will determine LIBOR based on the rate for one-month U.S. dollar deposits (the "One Month Index Maturity") which appears on Telerate Page 3750 as of 11:00 a.m., London time, on such date in determining the Class AV-1 Remittance Rate for the Remittance Date in the following month. If such LIBOR rate does not appear on Telerate Page 3750, the LIBOR rate for that day will be determined on the basis of the rates at which deposits in United States dollars, having the One-Month Index Maturity and in a principal amount of not less than U.S. $1,000,000, are offered at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market by the Reference Banks. The Trustee will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that day will be the arithmetic mean of the quotations. If fewer than two quotations are provided, the rate for that day will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Trustee, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks having a One-Month Index Maturity and in a principal amount equal to an amount of not less than U.S. $1,000,000; provided that if the banks selected as aforesaid are not quoting as mentioned in this sentence, LIBOR in effect for the applicable Interest Period will be LIBOR in effect for the previous Interest Period. Neither the Representative, Servicer nor the Trustee shall have any liability or responsibility to any Person for the selection of any Reference Bank for the purpose of determining LIBOR. In determining LIBOR and the Class AV-1 Remittance Rate, the Trustee may conclusively rely and shall be protected in relying upon the rates appearing on Telerate Page 3750 or the offered quotations (whether written, oral or on Telerate Page 3750) from Reference Banks, as appropriate, in effect from time to time. Neither of the Representative, the Servicer, the Certificate Insurer nor the Trustee shall have liability or responsibility to any Person for (i) the Trustee's selection of Reference Banks for purposes of determining LIBOR or (ii) the Trustee's or the Servicer's inability, as applicable, following a good-faith reasonable effort, to obtain such quotations from Reference Banks or such New York City banks or to...
Calculation of LIBOR. (a) The initial value of LIBOR shall be 4.33125% per annum. Such value of LIBOR shall be utilized in calculating: (i) with respect to the Class A-2FL Certificates, (A) the Class A-2FL Floating Swap Payment to be made on the Class A-2FL Swap Payment Date in January 2006 and (B) the Pass-Through Rate with respect to the Class A-2FL Certificates for the Distribution Date in January 2006, and (ii) with respect to the Class A-4FL Certificates, (A) the Class A-4FL Floating Swap Payment to be made on the Class A-4FL Swap Payment Date in January 2006 and (B) the Pass-Through Rate with respect to the Class A-4FL Certificates for the Distribution Date in January 2006.
(b) The value of LIBOR applicable to the calculation of the Class A-2FL Floating Swap Payment to be made on the Class A-2FL Swap Payment Date and the Class A-4FL Floating Swap Payment to be made on the Class A-4FL Swap Payment Date in any particular calendar month subsequent to January 2006, as well as the calculation of the respective Pass-Through Rates with respect to the Class A-2FL Certificates and the Class A-4FL Certificates for the Distribution Date in such calendar month (provided that no Class A-2FL Distribution Conversion or Class A-4FL Distribution Conversion, as applicable, is then in effect), shall be determined by the Trustee (and promptly reported to the related Swap Counterparty) on the LIBOR Determination Date in the preceding calendar month in accordance with the following methodology: LIBOR shall equal the rate for deposits in U.S. Dollars, for a period equal to one month, which appears on the Dow Xxxxx Market Service (formerly Telerate) Page 3750 as of 11:00 a.m., London time, on the applicable LIBOR Determination Date. If that rate does not appear on the Dow Xxxxx Market Service Page 3750, LIBOR will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by any five major reference banks in the London interbank market selected by the Trustee to provide that bank's offered quotation of such rates at approximately 11:00 a.m., London time, on the applicable LIBOR Determination Date to prime banks in the London interbank market for a period of one month, commencing on the 12th day of the calendar month in which the applicable LIBOR Determination Date occurs and in an amount that is representative for a single such transaction in the relevant market at the relevant time. The Trustee shall request the principal London office of any five major reference bank...
Calculation of LIBOR. LIBOR shall be calculated in accordance with Schedule IV.
Calculation of LIBOR. (a) With respect to each Distribution Date, one-month LIBOR will equal the interbank offered rate for one-month United States dollar deposits in the London market as quoted on Telerate Page 3750 as of 11:00 A.M., London time, on the second London Business Day prior to the first day of the related Accrual Period. "Telerate Page 3750" means the display designated as page 3750 on the Moneyline Telerate and after December 31, 2006, the display designated as Reuters LIBOR01 on Reuters, or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on the page or any other page as may replace that page on that service (or if that service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Securities Administrator after consultation with the Depositor), the rate will be the reference bank rate.
Calculation of LIBOR. 87 ARTICLE II
Calculation of LIBOR. 108 ARTICLE IX
