Daily LIBOR means, for any day during the Remittance Period, with respect to any Advance (or portion thereof) other than a Fixed LIBOR Advance (a) the rate per annum appearing on Reuters Screen LIBOR01 Page (or any successor or substitute page) as the London interbank offered rate for deposits in dollars at approximately 11:00 a.m., London time, for such day, provided, if such day is not a Business Day, the immediately preceding Business Day, for a one-month maturity; and (b) if no rate specified in clause (a) of this definition so appears on Reuters Screen LIBOR01 Page (or any successor or substitute page), the interest rate per annum at which dollar deposits of $5,000,000 and for a one-month maturity are offered by the principal London office of Citibank in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, for such day; provided that in no event shall Daily LIBOR equal less than 0%.
Daily LIBOR means for each day during any Interest Period, the rate of interest per annum determined by the Administrative Agent based on the London interbank offered rate administered by ICE Benchmark Administration Limited (or any other Person that takes over the administration of such rate) for deposits in Dollars in minimum amounts of at least $5,000,000 for a period equal to one month (commencing on the date of determination of such interest rate) as published by a commercially available source providing quotations of such rate as selected by the Administrative Agent from time to time at approximately 11:00 a.m. (London time) on such date of determination, or, if such date is not a Business Day, then the immediately preceding Business Day (rounded upwards, if necessary, to the nearest 1/100 of 1%). If the calculation of Daily LIBOR results in a Daily LIBOR rate that is less than zero (0), Daily LIBOR shall be deemed to be zero (0) for all purposes of the Loan Documents.
Daily LIBOR means a rate of interest fluctuating daily equal on each day to LIBOR that would be applicable on such day for a LIBOR Loan with a Fixed Rate Term of one month beginning on such day.
Examples of Daily LIBOR in a sentence
Effective as of the Series 2018 Closing Date, interest on the Series 2014D Bonds and Series 2018 Bonds during an Index Floating Rate Period during which the Index is based upon the Daily LIBOR Rate shall be calculated on the basis of a 360-day year and the actual number of days elapsed.
Amounts outstanding under this Note will bear interest at a rate per annum which is at all times equal to (A) the Daily LIBOR Rate plus (B) the applicable “LIBOR Margin” as set forth in the table below and determined based upon the Borrower’s ratio of Funded Debt to EBITDA as defined and calculated pursuant to the Loan Agreement executed by the Borrower in favor of the Bank as of December , 2012 (“Loan Agreement”).
The interest rate for a Swing Line Advance shall be the Daily LIBOR Rate plus the Applicable Margin in effect from time to time for Eurodollar Rate Advances (or, if the Daily LIBOR Rate is unavailable, the Base Rate plus the Applicable Margin in effect from time to time for Base Rate Advances), and such interest shall be due and payable in arrears on the first Business Day of each month.
The Note shall be in a principal amount equal to $100,000,000, shall bear interest initially at the Daily LIBOR Rate and shall have a maturity date of June 30, 2014.
Amounts outstanding under this Note will bear interest at a rate per annum which is at all times equal to (A) the Daily LIBOR Rate (as defined below) plus (B) points ( %).
More Definitions of Daily LIBOR
Daily LIBOR means the fluctuating rate per annum to apply to all or a portion of the outstanding principal amount of this Note which bears interest determined in relation to LIBOR, as designated by Borrower, based upon the Base LIBOR (as defined below) with respect to such rate.
Daily LIBOR means for any day, the rate for 1 month U.S. dollar deposits as reported on as shown on Reuters LIBOR01 Page or any successor service in Dow Xxxxx Markets (formerly Telerate Page 3750) as of 11:00 a.m., London time, for such day, provided, if such day is not a Business Day, the immediately preceding Business Day (or if not so reported, then as determined by the Administrative Agent from another recognized source or interbank quotation).
Daily LIBOR means the rate obtained by dividing: (1) actual or estimated per annum rate, or the arithmetic mean of the per annum rates, of interest for deposits in U.S. dollars for one (1) month periods, as offered and determined by the Bank in its sole discretion based upon information which appears 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, if such service ceases to be available, such other reasonably comparable money rate service as the Bank may select) or upon information obtained from any other reasonable procedure, on each date the Daily LIBOR is determined; by (2) a percentage (the “Reserve Requirement”) equal to one hundred percent minus the stated maximum rate (expressed as a percentage), if any, of all reserve requirements (including, without limitation, any marginal, emergency, supplemental, special or other reserves) that is specified on each date the Daily LIBOR is determined by the Board of Governors of the Federal Reserve System (or any successor agency thereto) for determining the maximum reserve requirement with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of such Board) maintained by a member bank of such System, or any other regulations or any governmental authority having jurisdiction with respect thereto, all as conclusively determined by the Bank, absent manifest error, such sum to be rounded up, if necessary, to the nearest whole multiple of one-sixteenth of one percent (1/16 of 1.0%) per annum.
Daily LIBOR means, with respect to any day, the rate of interest per annum determined by the Administrative Agent based on the rate for Dollar deposits in minimum amounts of at least $5,000,000 for a period equal to one month (commencing on the date of determination of such interest rate) which appears on the Reuters Screen LIBOR01 Page (or any applicable successor page) at approximately 11:00 a.m. (London time) on such date of determination, or, if such date is not a Business Day, then the immediately preceding Business Day (rounded upward, if necessary, to the nearest whole 1/100 of 1%). If, for any reason, such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page) then “Daily LIBOR” shall be determined by the Administrative Agent from another recognized source or interbank quotation and, upon request of Borrowers, the Administrative Agent shall provide the Borrowers with notice of such source or quotation. If the calculation of Daily LIBOR results in a Daily LIBOR rate of less than zero (0), Daily LIBOR shall be deemed to be zero (0) for all purposes of this Credit Agreement.
Daily LIBOR means, for any day, the rate per annum determined by the Bank by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage, provided, however, if the Daily LIBOR Rate determined as provided above would be less than zero, then such rate shall be deemed to be zero.
Daily LIBOR means, for any day, the rate per annum determined by the Bank by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage.
Daily LIBOR. Rate shall mean, for any day, the rate per annum determined by the Administrative Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage on such day.