Euro LIBOR Rate definition
Euro LIBOR Rate means, with respect to each Borrowing of Euro Denominated Loans, (i) the rate per annum for deposits in Euros as determined by the Administrative Agent for a period corresponding to the duration of the relevant Interest Period which appears on Reuters Page EURIBOR-01 (or any successor page) at approximately 11:00 a.m. (Brussels time) on the date which is two (2) Business Days prior to the commencement of such Interest Period or (ii) if such rate is not shown on Reuters Page EURIBOR-01 (or any successor page), the average offered quotation to prime banks in the Euro-zone interbank market by the Administrative Agent for Euro deposits of amounts comparable to the principal amount of the Euro Denominated Loan to be made by the Administrative Agent as part of such Borrowing (or, if the Administrative Agent is not a Lender with respect thereto, taking the average principal amount of Euro Denominated Loans then being made by the various Lenders pursuant thereto) with maturities comparable to the Interest Period to be applicable to such Loan (rounded upward to the next whole multiple of 1/16 of 1%), determined as of 11:00 a.m. (Brussels time) on the date which is two (2) Business Days prior to the commencement of such Interest Period; provided that in the event the Administrative Agent has made any determination pursuant to Section 2.10(a)(i) in respect of Euro Denominated Loans, or in the circumstances described in clause (i) to the proviso to Section 2.10(b) in respect of Euro Denominated Loans, Euro LIBOR determined pursuant to this definition shall instead be the rate determined by the Administrative Agent as the all-in-cost of funds for the Administrative Agent (or such other Lenders) to fund a Borrowing of Euro Denominated Loans with maturities comparable to the Interest Period applicable thereto.
Euro LIBOR Rate means for any Euro Interest Period with respect to any Euro LIBOR Loan, (a) the Euro LIBOR, plus (b) the Applicable Margin.
Euro LIBOR Rate means, for any Interest Period for each EURO-LIBOR Rate Advance comprising part of the same Borrowing, an interest rate per annum equal to the average (rounded upwards to the nearest whole multiple of 1/16 of 1% per annum, if such average is not such a multiple) of the rate per annum at which deposits in euros are offered by each of the Reference Banks to leading banks in the European interbank market at or about 11:00 A.M. (London time) on the first day of such Interest Period in an amount substantially equal to the respective Reference Bank's EURO-LIBOR Rate Advance comprising part of such Borrowing and for a period equal to such Interest Period. The EURO-LIBOR Rate for any Interest Period for each EURO-LIBOR Rate Advance comprising part of the same Borrowing shall be determined by the Administrative Agent on the basis of applicable rates furnished to and received by the Administrative Agent from the Reference Banks, subject, however, to the provisions of Section 2.07.
Examples of Euro LIBOR Rate in a sentence
Upon the expiration of the Interest Period for any Euro LIBOR Rate Loan, if the applicable Borrower fails to deliver a Notice of Continuation, (i) if such Loan is a Revolving Credit Loan, such Loan shall be automatically converted to a Euro Base Rate Loan and (ii) if such Loan is the Term Loan, such Loan shall be automatically continued as a Euro LIBOR Loan with a one (1) month Interest Period.
Subject to the provisions of this Section 4.1, (i) the Term Loan shall bear interest at the Euro LIBOR Rate plus the Applicable Margin and (ii) Revolving Credit Loans shall bear interest at the Domestic Borrower's option of the Euro LIBOR Rate and the Euro Base Rate, in each case, plus the Applicable Margin.
Partial repayments of Euro LIBOR Rate Loans shall be in an aggregate amount of 100,000 Euro or a whole multiple of 100,000 Euro in excess thereof.
More Definitions of Euro LIBOR Rate
Euro LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Lender pursuant to the following formula:
Euro LIBOR Rate means, for any Interest Period with respect to a Eurocurrency Rate Loan denominated in Euros, the rate of interest equal to (a) the rate determined by the Agent to be the rate at which Euro deposits for such Interest Period are offered based on information presented on Dow ▇▇▇▇▇ Market Service Page 3750 (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 Agent from time to time for purposes of providing quotations of interest rates applicable to Euro deposits in the Eurocurrency Interbank Market) as of 11:00 a.m. (Atlanta, Georgia time) on the second Business Day prior to the first day of such Interest Period, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Rate. If the rate described above does not appear on the Dow ▇▇▇▇▇ Market Service on any applicable interest determination date, the Euro LIBOR Rate shall be the rate (rounded upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Euros for a period of time comparable to such Euro LIBOR Rate Loan which are offered by four (4) major banks in the London interbank market at approximately 11:00 a.m. (Atlanta, Georgia time) on the second Business Day prior to the first day of such Interest Period as selected by the Agent. The principal London office of each of the four (4) major London banks will be requested to provide a quotation of its Euro deposit offered rate. If at least two (2) such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Euros to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately 11:00 a.m. (New York City time) on the second Business Day prior to the first day of such Interest Period. In the event that the Agent is unable to obtain any such quotation as provided above, it will be considered that Euro LIBOR Rate pursuant to a Eurocurrency Rate Loan denominated in Euros cannot be determined.
Euro LIBOR Rate means the rate (adjusted for reserves if Bank is required to maintain reserves with respect to relevant advances) being asked on an amount of Euros deposits equal to the amount of the Note on the first day of a Euro LIBOR Interest Period and which has a maturity corresponding to the maturity of the Euro LIBOR Interest Period, as reported by the Reuters rate reporting system (or any successor) as determined by Bank by noon on the first day of the applicable Euro LIBOR Interest Period. Each determination by Bank of the Euro LIBOR Rate shall be conclusive in the absence of manifest error.
Euro LIBOR Rate means (i) the rate per annum that appears on page 3740 of the Dow ▇▇▇▇▇ Markets Screen (or any successor page) for deposits in Euros with maturities comparable to the Interest Period applicable to the Euro Revolving Loans subject to the respective Borrowing commencing two Business Days thereafter as of 11:00 A.M. (London time) on the date which is two Business Days prior to the commencement of the respective Interest Period or (ii) if such a rate does not appear on page 3740 of the Dow ▇▇▇▇▇ Markets Screen (or any successor page), the offered quotation to first-class banks in the London interbank market by DB for deposits in Euros of amounts in immediately available funds comparable to the outstanding principal amount of the Euro Loan of DB with maturities comparable to the Interest Period applicable to such Euro Revolving Loan commencing two Business Days thereafter as of 11:00 A.M. (London time) on the date which is two Business Days prior to the commencement of such Interest Period; PROVIDED that in the event the Administrative Agent has made any determination pursuant to Section 1.11(a)(i) in respect of Euro Revolving Loans, or in the circumstances described in clause (i) to the proviso to Section 1.11(b) in respect of Euro Revolving Loans, the Euro LIBOR Rate determined pursuant to this definition shall instead be the rate determined by DB as the all-in-cost of funds for DB to fund such Euro Revolving Loan with maturities comparable to the Interest Period applicable thereto. "EURO RATE" shall mean and include each of the Eurodollar Rate, the Euro LIBOR Rate and the Sterling Euro Rate.
Euro LIBOR Rate means, with respect to any euro Advance for the relevant Loan Period, the rate per annum quoted on or about 11:00 a.m. (London time) on the date which is two Business Days prior to the first day of such Loan Period on that page of the Bloomberg's or Reuters' Screen which displays British Bankers Association Interest Settlement Rates for deposits in euro for such Loan Period or, if such page or service shall cease to be available, such other page or such other service (as the case may be) for the purpose of displaying British Bankers Association Interest Settlement Rates for euro as the London Agent, in its discretion, shall select; provided, that if no such rate is displayed for euro and the relevant Loan Period and there is no euro alternative service on which two or more such quotations for euro are displayed, "euro LIBOR Rate" will be the rate at which deposits in euro of that amount are offered by the London Agent for that Loan Period to prime banks in the London interbank market on or about 11:00 a.m. (London time) on the date which is two Business Days prior to the first day of such Loan Period.
Euro LIBOR Rate appearing in Section 11.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
Euro LIBOR Rate means (i) the rate per annum that appears on page 3740 of the Dow ▇▇▇▇▇ Markets Screen (or any successor page) for deposits in Euros with maturities comparable to the Interest Period applicable to the Euro Revolving Loans subject to the respective Borrowing commencing two Business Days thereafter as of 11:00 A.M. (London time) on the date which is two Business Days prior to the commencement of the respective Interest Period or (ii) if such a rate does not appear on page 3740 of the Dow ▇▇▇▇▇ Markets Screen (or any successor page), the offered quotation to first-class banks in the London interbank market by BTCo for deposits in Euros of amounts in immediately available funds comparable to the outstanding principal amount of the Euro Loan of BTCo with maturities comparable to the -26- Interest Period applicable to such Euro Revolving Loan commencing two Business Days thereafter as of 11:00 A.M. (London time) on the date which is two Business Days prior to the commencement of such Interest Period; provided, that in the event the Paying Agent has made any determination pursuant to Section 1.11(a)(i) in respect of Euro Revolving Loans, or in the circumstances described in clause (i) to the proviso to Section 1.11(b) in respect of Euro Revolving Loans, the Euro LIBOR Rate determined pursuant to this definition shall instead be the rate determined by BTCo as the all-in-cost of funds for BTCo to fund such Euro Revolving Loan with maturities comparable to the Interest Period applicable thereto.