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 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.
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.
Examples of Euro LIBOR Rate in a sentence
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.
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.
More Definitions of Euro LIBOR Rate
Euro LIBOR Rate means (i) the rate per annum that appears on page 3740 of the Dow Xxxxx 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 Xxxxx 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.
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 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) in the case of a Euro Revolving Loan made to Starwood Italia, (x) the rate per annum for deposits in Euros for a period corresponding to the duration of the relevant Interest Period which appears on the Reuters Screen which displays the rate of the Banking Federation of the European Union for the Euro (being currently page “EURIBOR01”) at approximately 11:00 A.M. (Brussels time) on the date which is two Business Days prior to the commencement of such Interest Period (for delivery on the first day of such Interest Period) or, if such page shall cease to be available, such other page or such other service for the purpose of displaying an average rate of the Banking Federation of the European Union as the Administrative Agent, after consultation with Alternate Currency Lenders with Euro Revolving Loan Sub-Commitments and the Corporation, shall select or (y) if such rate is not available at such time for any reason, and the Administrative Agent has not selected an alternative service on which a quotation is displayed, then the “Euro LIBOR Rate” for the relevant Interest Period shall be the arithmetic mean (rounded upwards to four decimal places) of the rates (as notified to the Administrative Agent at its request) at which each Euro Reference Bank was offering to prime banks in the European interbank market deposits in Euros for the relevant Interest Period at approximately 11:00 a.m., Brussels time, two (2) Business Days prior to the commencement of such Interest Period and (ii) in the case of a Euro Revolving Loan made to any Alternate Currency Revolving Loan Borrower (other than Starwood Italia), (x) the rate per annum that appears on page 3740 of the Dow Xxxxx 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 (y) if such a rate does not appear on page 3740 of the Dow Xxxxx Markets Screen (or any successor page), the offered quotation to first-class banks in the London interbank market by the Administrative Agent for deposits in Euros of amounts in immediately available funds comparable to the outstanding principal amount of the Euro Revolving Loan of the Administrative Agent (or, if the Administrative Agent has no outstanding Euro Revolving Lo...
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, 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 means, for any Interest Rate Determination Date with respect to an Interest Period for a EURO-LIBOR Rate Loan, the rate per annum obtained by dividing (i) the British Bankers' Association Interest Settlement Rates for deposits in Euros (as set forth by any service selected by Administrative Agent which has been nominated by the British Bankers' Association as an authorized information vendor for the purposes of displaying such rates) for such period at or about 11:00 A.M. (London time) on such Interest Rate Determination Date by (ii) a percentage equal to 100% minus the stated maximum rate of all reserve requirements (including any marginal, emergency, supplemental, special or other reserves) applicable on such Interest Rate Determination Date to any member bank of the Federal Reserve System in respect of "Eurocurrency liabilities" as defined in Regulation D (or any successor category of liabilities under Regulation D); provided, that to the extent that an interest rate is not ascertainable pursuant to the foregoing provisions of this definition the "EURO-LIBOR Rate" shall be the interest rate per annum determined by the Administrative Agent as the average of the rate at which deposits in Euros are offered for such Interest Period to major banks in the London interbank market in London, England by Administrative Agent at or about 11:00 A.M. (London time) on the Interest Rate Determination Date for such Interest Period, divided by the percentage calculated in accordance with clause (ii) of this definition; provided, further, that, in the case of any Offshore Loans, "EURO-LIBOR Rate" shall be increased for each Offshore Lender to include the additional cost (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places), if any, to such Offshore Lender of complying with the requirements of the Bank of England, the Financial Services Authority and/or any other relevant monetary or regulatory authority in respect of monetary control, liquidity or otherwise from time to time.