Effective LIBOR Rate definition

Effective LIBOR Rate means, on any date, the offered rates for deposits in dollars for a period of the same duration as the relevant Dividend Period, which appear on the Reuters Screen LIBO Page as of 11:00 A.M., London time, on such date. If at least two such offered rates appear on the Reuters Screen LIBO Page, the Effective LIBOR Rate in respect of such date will be the arithmetic mean of such offered rates. If fewer than two offered rates appear, the Effective LIBOR Rate in respect of such date will be determined on the basis of the rates quoted to the Trust Company or the Tender Agent, as the case may be, at which deposits in dollars are offered by the Reference Banks (as hereinafter defined) at approximately 11:00 A.M., London time, on the day that is the Business Day preceding such date to prime banks in the London interbank market for a period of the same duration as the relevant Dividend Period. The Corporation shall request the principal London office of each of the Reference Banks to provide a quotation of such rate to the Trust Company or the Tender Agent, as the case may be. If at least two such quotations are provided, the Effective LIBOR Rate in respect of such date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the Effective LIBOR Rate in respect of such date will be the arithmetic mean of the rates quoted to the Trust Company or Tender Agent, as the case may be, by major banks in New York City, selected by the Corporation, at approximately 11:00 A.M., New York City time, on such date for loans in dollars to leading European banks for a period of the same duration as the relevant Dividend Period. "Reference Banks" means four major banks in the London interbank market, selected by the Corporation, and may include Morgan Guaranty Trust Company of New York or any successor thereto or affiliate thereof. In the event that no quoted rates are available for a maturity that equals the duration of the relevant Dividend Period, then the rate will be the higher of the quoted rate for the maturity immediately shorter or immediately longer than the duration of the relevant Dividend Period.
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Effective LIBOR Rate means the Elected LIBOR Rate plus one and 95/100 percent (1.95%) per annum, subject to adjustment pursuant to the provisions of Sections 2.4 and 2.5.
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Effective LIBOR Rate means, for any applicable Interest Period, the per annum rate equal to the sum of (a) the Index Rate for such Interest Period, plus (b) the Applicable Margin
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Examples of Effective LIBOR Rate in a sentence

  • Any advance made pursuant to this Section 8.5 or otherwise bearing interest at the Effective LIBOR Rate shall be referred to herein as a “LIBOR Rate Loan”.

  • Thereafter, the obligation of Lenders to make or maintain Warehousing Advances at the Effective LIBOR Rate shall be suspended until Administrative Agent revokes such notice.

  • Each LIBOR Advance shall bear interest on the unpaid principal amount thereof until payment in full at the Effective LIBOR Rate, but in no event to exceed the Highest Lawful Rate.

  • Borrower will pay interest on the unpaid principal amount of each LIBOR Loan for the applicable Interest Period with respect thereto at a rate per annum equal to the lesser of: (i) the LIBOR Rate plus two percent (2.00%)(the "Effective LIBOR Rate"); or (ii) the Highest Lawful Rate.

  • The Effective LIBOR Rate, as utilized herein, shall mean the rate for deposits in U.S. Dollars for a period of one month (the “Interest Period”) which appears on the Telerate page 3750 as of 11:00 a.m. London time on the day that is two London Banking Days preceding the first business day of each calendar month.

  • Except as set forth in Sections 3.1(c), 3.1(d) and 3.9(g), interest on each Warehousing Advance shall accrue at the Effective LIBOR Rate.

  • Each change in the Effective LIBOR Rate shall effect a simultaneous and corresponding change in the interest rate hereunder without notice to the Borrower.

  • Applicable Rate shall mean either the Prime Rate or the Effective LIBOR Rate, as the case may be or as the context requires.

  • Each change is the Effective LIBOR Rate shall effect a simultaneous and corresponding change in the interest rate hereunder without notice to the Borrower.

  • Except as set forth in Sections 3.1(c), 3.1(d) and 3.12(g), interest on each Warehousing Advance shall accrue at the Effective LIBOR Rate.


More Definitions of Effective LIBOR Rate

Effective LIBOR Rate means, at any time, the per annum rate equal to the Daily Floating LIBOR Rate at such time plus the Applicable Margin.
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Effective LIBOR Rate shall be deemed to mean the LIBOR rate for the Interest Rate Period, to be chosen by the Borrower, published two days preceding the Borrower's election to Advance, provided that in no event shall such period exceed the number of days remaining until the LOC Maturity Date. The "Interest Rate Period" shall be deemed to mean, with respect to each Libor Advance made to the Borrower under this Note, the period of either one (1) month, two (2) months or three (3) months for establishing the Effective LIBOR Rate.
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Effective LIBOR Rate means the rate of interest for all LIBOR Advances, such rate to be based upon the ratio of Consolidated Funded Debt to EBITDA for Borrower's immediately preceding four (4) fiscal quarters determined as of the date of Agent's receipt of the financial reports required in Section 6.01, but in no event later than fifteen days after the date such reports were due. The Effective LIBOR Rate shall be calculated as follows:
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Effective LIBOR Rate means the rate of interest for all LIBOR Advances, such rate to be based upon the ratio of Consolidated Funded Debt to EBITDA for Borrower's immediately preceding four (4) fiscal quarters determined as of the date of Agent's receipt of the financial reports required in Section 6.01, but in no event later than fifteen days after the date such reports were due. The Effective LIBOR Rate shall be calculated as follows: If Ratio for Four Then Effective LIBOR Rate Preceding Quarters Is For Advance Is --------------------- ------------------------- 1.00 or less to 1.00 LIBOR plus 1.25%
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Effective LIBOR Rate and its accompanying definition is deleted in its entirety and replaced with the following language: ​
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Effective LIBOR Rate shall be deemed to mean the LIBOR rate for the applicable Interest Rate Period chosen by the Borrower appearing on the Reuters Screen LIBOR01 page at approximately 11:00 a.m. London time for the Interest Rate Period, to be chosen by the Borrower, published two (2) Business Days preceding the Borrower’s election to Advance, provided that in no event shall such period exceed the number of days remaining until the LOC Maturity Date. The “Interest Rate Period” shall be deemed to mean, with respect to each Libor Advance made to the Borrower under this Note, the period of either one (1) month, two (2) months or three (3) months for establishing the Effective LIBOR Rate.
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Related to Effective LIBOR Rate

  • Applicable LIBOR Rate means, (a) for Auction Periods of 35 days or less, One-Month LIBOR, (b) for Auction Periods of more than 35 days but less than 91 days, Three-Month LIBOR, (c) for Auction Periods of more than 90 days but less than 181 days, Six-Month LIBOR, and (d) for Auction Periods of more than 180 days, One-Year LIBOR.

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Initial LIBOR Rate Not applicable.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Base LIBOR Rate means the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/16%), on the basis of the rates at which Dollar deposits are offered to major banks in the London interbank market on or about 11:00 a.m. (California time) 2 Business Days prior to the commencement of the applicable Interest Period, for a term and in amounts comparable to the Interest Period and amount of the LIBOR Rate Loan requested by Administrative Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

  • LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Page 3750 of the Telerate Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the "LIBO Rate" with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period.

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • LIBO Base Rate means with respect to each day an Advance is outstanding (or if such day is not a Business Day, the next succeeding Business Day), the rate per annum equal to the rate published by Bloomberg or if such rate is not available, the rate appearing at page 3750 of the Telerate Screen as one-month LIBOR on such date, and if such rate shall not be so quoted, the rate per annum at which the Lender is offered Dollar deposits at or about 11:00 A.M., eastern time, on such date by prime banks in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations in respect of its Advances are then being conducted for delivery on such day for a period of one month and in an amount comparable to the amount of the Advances to be outstanding on such day.

  • USD LIBOR means the London interbank offered rate for U.S. dollars.

  • Eurodollar Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Effective Federal Funds Rate means for any day the rate per annum (based on a year of 360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1% announced by the Federal Reserve Bank of New York (or any successor) on such day as being the weighted average of the rates on overnight federal funds transactions arranged by federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve Bank (or any successor) in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the “Effective Federal Funds Rate” as of the date of this Agreement; provided that if such Federal Reserve Bank (or its successor) does not announce such rate on any day, the “Effective Federal Funds Rate” for such day shall be the Effective Federal Funds Rate for the last day on which such rate was announced. Notwithstanding the foregoing, if the Effective Federal Funds Rate as determined under any method above would be less than zero percent (0.00%), such rate shall be deemed to be zero percent (0.00%) for purposes of this Agreement.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • CDOR Rate is defined in the definition of “Eurocurrency Rate” herein.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • LIBOR Reserve Percentage means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted by Bank for expected changes in such reserve percentage during the applicable Fixed Rate Term.