CIBOR Rate definition

CIBOR Rate means, in relation to any Loan in Danish Kroner for any day, a rate per annum equal to the Copenhagen Interbank Offered Rate or, if such rate is not available, a comparable or successor rate, which rate is reasonably selected by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 11:00 a.m. (Copenhagen, Denmark time) for an amount comparable to the amount of that Loan on such day for overnight deposits and, if any such applicable rate is below zero, the CIBOR Rate for such day will be deemed to be zero; provided, that, after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

CIBOR Rate means, in the case of any Eurocurrency Borrowing denominated in DKK, with respect to any Interest Period, a rate per annum equal to the Copenhagen Interbank Offered Rate administered by the Finance Denmark (or any other person that takes over administration of that rate) for deposits in DKK with a term equivalent to such Interest Period as displayed on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion (the “CIBOR Screen Rate”) as of 11:00 a.m. Copenhagen, Denmark time two Business Days prior to the commencement of such Interest Period. If the CIBOR Rate shall be less than zero, the CIBOR Rate shall be deemed to be zero for purposes of this agreement.

CIBOR Rate means for any Loans in DKK, the CIBOR Screen Rate or the applicable Reference Bank Rate.

Examples of CIBOR Rate in a sentence

• The Successor CIBOR Rate or Alternative CIBOR Rate and any CIBOR Rate Amend- ments specified in such certificate will (in the absence of manifest error or bad faith in the determination of the Successor CIBOR Rate or Alternative CIBOR Rate and any CI- BOR Rate Amendments and without prejudice to the Calculation Agent’s ability to rely on such certificate as aforesaid) be binding on the Issuer, the Calculation Agent and the Noteholders.

• Notwithstanding any other provision of this Condition 6 no Successor CIBOR Rate or Alternative CIBOR Rate (as applicable) will be adopted, and no other amendments to the terms of the Notes will be made pursuant to this Condition 6, if and to the extent that, in the determination of the Issuer, the same could reasonably be expected to prej- udice the qualification of the Notes as Tier 2 Capital of the Issuer and/or the Group.

• If the Independent Adviser (in consultation with the Issuer), determines that an Ad- justment Spread is required to be applied to the Successor CIBOR Rate or the Alterna- tive CIBOR Rate and that such Adjustment Spread is determined by the Independent Adviser, such Adjustment Spread shall be applied.

• The Issuer shall at its own expense, but subject to receipt by the Noteholders of the cer- tificate referred to in Condition 6.3.3, without the requirement for any consent or ap- proval of the Noteholders, effect such amendments to these Conditions as may be re- quired by the Issuer in order to give effect to this Condition 6, such amendments re- ferred to as “ CIBOR Rate Amendments”.

• The Issuer shall promptly, following the determination of any Successor CIBOR Rate or Alternative CIBOR Rate and any CIBOR Rate Amendments, give notice thereof to the Calculation Agent and the Noteholders in accordance with Condition 19 ( Notices).

More Definitions of CIBOR Rate

CIBOR Rate means, in relation to any Loan in Danish Kroner, the rate per annum equal to the Copenhagen Interbank Offered Rate, as published on the applicable Reuters screen page (or if not available, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) on the Rate Determination Date with a term equivalent to one month and, if any such applicable rate is below zero, the CIBOR Rate for such day will be deemed to be zero.

CIBOR Rate means, in relation to an Interest Period and the Interest Determination Date in relation to such Interest Period and subject to Condition 5(h):

CIBOR Rate means, with respect to any Accrual Period, the greater of (a) 0.00% and (b) the Danish Krone Screen Rate as shown on the Reuters Screen (or any applicable successor thereto) for a period equal to three (3) months as of 11:00 a.m., Copenhagen, Denmark time, two (2) Business Days prior to the first day of such Accrual Period; provided that, in the event no such rate is shown, the CIBOR Rate shall be a comparable or successor rate, with the consent of the Servicer, as published on the Reuters Screen page (or applicable successor thereto) as of 11:00 a.m. (Copenhagen, Denmark time) two (2) Business Days before the first day of such Accrual Period for delivery on such first day and for a period equal to three (3) months.

CIBOR Rate means, in relation to any Loan in Danish Kroner, a rate per annum equal to the Copenhagen Interbank Offered Rate, as published on the applicable Reuters screen page (or if not available, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) two Business Days prior to first date of advance of such Loan and for an amount comparable to the amount of that Loan with a term equivalent to one month and, if any such applicable rate is below zero, the CIBOR Rate for such day will be deemed to be zero.

CIBOR Rate has the meaning specified in the definition of Eurocurrency Rate.

CIBOR Rate means, for any Loans denominated in Danish Kroner, the CIBOR Screen Rate or, if applicable pursuant to the definition of “LIBO Rate”, the applicable Interpolated Rate, or the applicable Reference Bank Rate or such other rate as determined pursuant to the terms of Section 2.14(a), as applicable.

CIBOR Rate means, in relation to any Loan in Danish Kroner for any day, a rate per annum equal to the Copenhagen Interbank Offered Rate or, if such rate is not available, a comparable or successor rate, which rate is reasonably selected by the Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 11:00 a.m. (Copenhagen, Denmark time) for an amount comparable to the amount of that Loan on such day for overnight deposits and, if any such applicable rate is below zero, the CIBOR Rate for such day will be deemed to be zero; provided, that, after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.