Daily Floating LIBOR Rate means, for any day, a fluctuating rate of interest per annum which can change on each Business Day, equal to LIBOR, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be reasonably designated by the Administrative Agent from time to time) at or about 11:00 a.m., London time, two Business Days prior to such date for Dollar deposits with a term of one month commencing that day; provided, that if the Daily Floating LIBOR Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
Daily Floating LIBOR Rate means the fluctuating rate of interest, which can change on each Business Day, equal to the London Interbank Offered Rate, or a comparable or successor rate which rate is approved 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., London time, two (2) Business Days prior to the date in question, for Dollar deposits with a term equivalent to a one (1) month term beginning on that date, and if any such applicable rate is below zero, the Daily Floating LIBOR Rate for such day will be deemed to be zero.
Daily Floating LIBOR Rate means, for any day, the British Bankers' Association LIBOR rate for a period of one month for deposits in U.S. dollars as reported on the Bloomberg Professional Service Page BBAM 1 as the offered rate for loans in United States dollars for thirty (30) day periods under the caption British Bankers Association LIBOR Rates as of 11:00 a.m. (London time), announced on such day (or if such day is not a Business Day, the immediately preceding Business Day) divided by (ii) the sum of one minus the daily maximum reserve requirement (expressed as a decimal) then imposed under Regulation D of the Board of Governors of the Federal Reserve System (or any successor thereto) for “Eurocurrency Liabilities” (as defined therein). If Bloomberg Professional Service no longer reports the LIBOR or Lender determines in good faith that the rate so reported no longer accurately reflects the rate available to Lender in the London Interbank Market or if such index no longer exists or if Page BBAM 1 no longer exists or accurately reflects the rate available to Lender in the London Interbank Market, Lender may select a replacement index or replacement page, as the case may be.
Examples of Daily Floating LIBOR Rate in a sentence
The Swing Line Lender at any time in its sole discretion may request, on behalf of the Borrower (which hereby irrevocably requests and authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Loan or a Daily Floating LIBOR Rate Loan, as applicable, in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding.
Each such Committed Loan Notice must be received by the Administrative Agent not later than 2:00 p.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans, (ii) on the requested date of any Borrowing of or conversion to Base Rate Committed Loans, and (iii) one Business Day prior to the requested date of any Borrowing of or conversion to Daily Floating LIBOR Rate Loans.
The determination of the Eurodollar Rate and the Daily Floating LIBOR Rate, as applicable, by the Administrative Agent shall be conclusive absent manifest error.
Daily Floating LIBOR Rate Loans shall automatically continue each day as Daily Floating LIBOR Rate Loans unless and until the Borrower delivers a timely notice requesting a conversion of such Daily Floating LIBOR Rate Loans to another Type of Loan.
During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans or Daily Floating LIBOR Rate Loans without the consent of the Required Lenders.
More Definitions of Daily Floating LIBOR Rate
Daily Floating LIBOR Rate means, for any day and subject to availability, a fluctuating rate of interest per annum which can change on each Business Day, equal to LIBOR, 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 approximately 11:00 a.m., London time, two Business Days prior to such date for Dollar deposits with a term equivalent to a one month term beginning on that date; provided, that if the Daily Floating LIBOR Rate shall be less than zero, the Daily Floating LIBOR Rate shall be deemed to be zero for all purposes of this Agreement.
Daily Floating LIBOR Rate means, for each day, the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Bloomberg (or other commercially available source providing quotations of BBA LIBOR as designated by the Agent from time to time) at approximately 11:00 a.m. (London time) on such day (if such day is a LIBOR Business Day) or the immediately preceding LIBOR Business Day (if such day is not a LIBOR Business Day), for U.S. dollar deposits with a term equivalent to one (1) month. If such rate is not available at such time for any reason, then the “Daily Floating LIBOR Rate” shall be the rate per annum determined by the Agent to be the rate at which deposits in U.S. dollars in same day funds in the approximate amount of the then outstanding principal balance of the Advances and with a term equivalent to one (1) month would be offered by the Agent’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) on such day (if such day is a LIBOR Business Day) or the immediately preceding LIBOR Business Day (if such day is not a LIBOR Business Day). If at any time the Agent’s London branch is not offering such rate, the Daily Floating LIBOR Rate shall be deemed to be unavailable. As used herein, “LIBOR Business Day” means a Business Day upon which commercial banks in London, England are open for domestic and international business.
Daily Floating LIBOR Rate. With respect to any Daily Floating LIBOR Rate Borrowing, a fluctuating rate of interest which can change on each Business Day. The rate will be adjusted on each Business Day to equal the London Interbank Offered Rate (or a comparable or successor rate which is approved by the Lender) for U.S. Dollar deposits for delivery on the date in question for a one month term beginning on that date. The Lender will use the London Interbank Offered Rate as published by Bloomberg (or other commercially available source providing quotations of such rate as selected by the Lender from time to time) as determined at approximately 11:00 a.m. London time two (2) Business Days prior to the date in question, as adjusted from time to time in the Lender’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs. If such rate is not available at such time for any reason, then the rate will be determined by such alternate method as reasonably selected by the Lender in good faith. If the Daily Floating LIBOR Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. Default: Any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. Dollar or $: The lawful currency of the United States of America. Effective Date: The date of execution and delivery by the Borrower and the Lender of this Agreement. Eurodollar Base Rate: (a) For any Interest Period with respect to a Eurodollar Rate Borrowing, the rate per annum equal to the London Interbank Offered Rate or a comparable or successor rate, which rate is approved by the Lender, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Lender from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; (b) For any interest calculation with respect to a Base Rate Borrowing on any date, the rate per annum equal to the London Interbank Offered Rate, at or about 11:00 a.m., London time determined two Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing that day; and (c) If the Eurodollar Rate shall be less than zero, such rate shall be deemed ...
Daily Floating LIBOR Rate means the one-month LIBOR rate quoted by the Agent from Reuters Screen LIBOR01 Page or any successor thereto, which shall be that one-month LIBOR rate in effect and reset each Business Day, adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation.
Daily Floating LIBOR Rate means, as of any date of determination, the per annum rate of 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 reasonably selected by Administrative Agent from time to time) at approximately 11:00 a.m. London time on the date of determination for Dollar deposits being delivered in the London interbank market for a term of one month commencing two (2) Business Days prior to that day. If such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate method as reasonably selected by Administrative Agent.
Daily Floating LIBOR Rate means a fluctuating rate of interest (rounded, if necessary, to the nearest 1/l00th of 1%) equal to the one (1) month London Interbank Offered Rate as published in the “Money Rates” section of the Wall Street Journal.
Daily Floating LIBOR Rate means for any day the rate for borrowed funds in the interbank market in London in United States dollars for maturities of one month, rounded upwards if necessary to the next 1/16 of 1%, as determined at approximately 11:00 a.m. London time on that day. The Daily Floating LIBOR Rate for any day that is not a Business Day shall be the Daily Floating LIBOR Rate determined on the immediately preceding Business Day. Such rate shall be determined by Lender based upon the London Interbank Offered Rate as administered by the ICE Benchmark Administration (or any other entity that takes over administration of such rate for United States dollars). Any Daily Floating LIBOR Rate less than 0.0% shall be deemed to be 0.0% for purposes of this Agreement.