Daily LIBO Rate definition
Daily LIBO Rate for any day shall mean, the rate per annum determined by the Lender by dividing (a) the Published Rate by (b) a number equal to 1.00 minus the LIBOR Reserve Percentage.
Daily LIBO Rate means, for the initial Interest Period, on each day during the initial Interest Period, the fluctuating rate of interest equal to LIBOR, as published on the applicable Reuters screen page (or such other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London local time, on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding, for dollars deposited with a term equivalent to a one-month interest period. If such rate is not available at such time for any reason, then the Daily LIBO Rate shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in dollars for delivery in same day funds in the approximate amount of the initial Loan with a term equivalent to a one-month interest period would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market at their request at approximately 11:00
Daily LIBO Rate means, on each day during the applicable period, the greater of (x) the fluctuating rate of interest equal to LIBOR, as published on the applicable Reuters screen page (or such other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London local time, on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding, for dollars deposited with a term equivalent to an overnight interest period and (y) 0%. If such rate under (x) is not available at such time for any reason, then the Daily LIBO Rate shall be the greater of (i) the rate per annum determined by the Administrative Agent to be the rate at which deposits in dollars for delivery in same day funds in the approximate amount of the initial Loan with a term equivalent to a one-month interest period would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market at their request at approximately 11:00 a.m. (London local time), on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) such Loan is outstanding and (ii) 0%.
Examples of Daily LIBO Rate in a sentence
The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each determination of the Daily LIBO Rate.
In the case of the Swingline Loan, amounts outstanding as of the last day of an Interest Period shall continue to bear interest at the Adjusted Daily LIBO Rate as of the first day of the succeeding Interest Period without notice from the Borrower.
Installments of interest shall be due and payable on each Interest Payment Date, "Interest Payment Date" shall mean (i) the lst day of each Interest Period in the case of a Quoted LIBO Rate advance; and (ii) in the case of a Daily LIBO Rate Advance, the first business day of each month.
The Principal Sum from time to time outstanding shall bear interest at the per annum rate equal to the Daily LIBO Rate, plus six percent (6.00%) (collectively, the “Contract Rate”).
Any such Base Rate Loan shall automatically (without notice from or other action by Borrower or any other Loan Party) be converted to a LIBO Loan bearing interest at rates based upon the LIBO Rate or Daily LIBO Rate, as the case may be, on the first date on which the Administrative Agent indicates that such LIBO Loans become available.
More Definitions of Daily LIBO Rate
Daily LIBO Rate means, for the initial Interest Period, on each day during the initial Interest Period, the fluctuating rate of interest equal to LIBOR, as published on the applicable Reuters screen page (or such other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London local time, on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding, for dollars deposited with a term equivalent to a one-month interest period. If such rate is not available at such time for any reason, then the Daily LIBO Rate shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in dollars for delivery in same day funds in the approximate amount of the initial Loan with a term equivalent to a one-month interest period would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market at their request at approximately 11:00 a.m. (London local time), on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) such Loan is outstanding.
Daily LIBO Rate for any day, the greater of (a) zero and (b) a rate per annum determined for such day in accordance with the following formula:
Daily LIBO Rate means, the rate of interest, rounded up to the nearest whole multiple of one-hundredth of one percent (.01%), obtained by dividing (i) the rate of interest, rounded upward to the nearest whole multiple of one-sixteenth of one percent (0.0625%), quoted by the Administrative Agent from time to time as the London Inter-Bank Offered Rate for deposits in U.S. Dollars at approximately 9:00 a.m. Pacific time for a period of one month, as adjusted daily by Administrative Agent by (ii) a percentage equal to 1 minus the stated maximum rate (stated as a decimal) of all reserves, if any, required to be maintained with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”) as specified in Regulation D of the Board of Governors of the Federal Reserve System (or against any other category of liabilities which includes deposits by reference to which the interest rate on LIBOR loans is determined or any applicable category of extensions of credit or other assets which includes loans by an officer of any Lender outside of the United States of America). Any change in such maximum rate shall result in a change in Daily LIBO Rate on the date on which such change in such maximum rate becomes effective.
Daily LIBO Rate means, with respect to any Daily LIBO Rate Advance, the per annum rate that is determined daily and is equal to the quotient of:
(a) the actual or estimated arithmetic mean of the per annum rates of interest at which deposits in U.S. dollars for a period of one (1) month and in an aggregate amount comparable to the amount of such Daily LIBO Rate Advance are being offered to U.S. banks by one or more prime banks in the London interbank market on the LIBO business day on which the determination is made, or, if determination is made on a day other than a LIBO business day, on the most recently elapsed LIBO business day as determined by Huntington in its discretion based upon reference to information appearing on page LIBOR01, captioned "British Bankers Assoc. Interest Settlement Rates," of the Reuters America Network, a service of Reuters America Inc. (or such other page that may replace that page on that service for the purpose of displaying London interbank offered rates) or any comparable index selected by Huntington, the obtaining of rate quotations, or any other reasonable procedure, calculated to five places to the right of the decimal point, all as determined by Huntington; divided by
(b) a percentage equal to 100% minus the rate (expressed as a percentage), if any, at which reserve requirements are imposed on Huntington, as of the most recent LIBO business day, with respect to any "Eurocurrency liabilities" under Regulation D of the Board of Governors of the Federal Reserve System or any other regulations of any governmental authority having jurisdiction with respect thereto (including, without limitation, any marginal, emergency, supplemental, special or other reserves) for a 1 month term. This provision is for the benefit of Huntington and is not intended to increase the expected yield to Huntington above the rates of interest provided for in this Agreement.
Daily LIBO Rate means, for any day, the rate of interest equal to the Adjusted LIBO Rate for an Interest Period of one month determined on such day.
Daily LIBO Rate means, for any Interest Period on each day during such Interest Period, the greater of (i) the fluctuating rate of interest equal to LIBOR, as published on the applicable Reuters screen page (or such other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London local time, on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding, for dollars deposited with a term equivalent to a one-month interest period and (ii) zero percent (0%). If such rate is not available at such time for any reason, then the Daily LIBO Rate shall be the greater of (A) the rate per annum determined by the Administrative Agent to be the rate at which deposits in Kronor Loan Agreement [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. dollars for delivery in same day funds in the approximate amount of the initial Loan with a term equivalent to a one-month interest period would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market at their request at approximately 11:00 a.m. (London local time), on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) such Loan is outstanding and (ii) zero percent (0%).
Daily LIBO Rate means, for the initial Interest Period, on each day during the initial Interest Period, the greater of (i) the fluctuating rate of interest equal to LIBOR, as published on the applicable Reuters screen page (or such other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London local time, on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding, for dollars deposited with a term equivalent to a one-month interest period and (ii) zero percent (0%). If such rate is not available at such time for any reason, then the Daily LIBO Rate shall be the greater of (x) the rate per annum determined by the Administrative Agent to be the rate at which deposits in dollars for delivery in same day funds in the approximate amount of the initial Loan with a term equivalent to a one-month interest period would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market at their request at approximately 11:00 a.m. (London local time), on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) such Loan is outstanding and (y) zero percent (0%).