Fixed LIBOR Rate means a rate per annum (rounded to the nearest 1/16 of 1%, or if there is no nearest of 1/100,000 of 1%, to the next highest 1/16 of 1%) equal to the rate quoted at approximately 9:00 a.m. New York time, by New York dealers of London interbank deposits selected by the Bank two Business Days prior to the first day of such Interest Period for the purchase at face value of U.S. dollar deposits in immediately available funds for a period and in an amount comparable to the applicable Interest Period and the Principal Balance outstanding during such Interest Period, with respect to which Borrower has exercised the LIBOR Rate Option.
Fixed LIBOR Rate means the rate (rounded upwards as described above, if necessary) determined on the basis of the British Bankers’ Association Libor Rate for deposits in U.S. Dollars for a period of time comparable to such Fixed LIBOR Rate Loan appearing on such other page or service selected by Administrative Agent that, shows BBA LIBOR for deposits in U.S. Dollars for a comparable period (for delivery on the second succeeding Business Day) at approximately 11:00 a.m. (London time) on the second preceding Business Day; provided, however, if more than one rate is specified on such other page or service, the applicable rate shall be the arithmetic mean of all such rates. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of Administrative Agent, then for any period during which such Reserve Percentage shall apply, the Fixed LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Fixed LIBOR Rate means with respect to each day during each Interest Period pertaining to the Loan, a rate per annum (based on a year of 360 days and actual days elapsed) determined for the first day of each such Interest Period in accordance with the following formula rounded upward to the nearest 1/16 of 1% plus three hundred (300) Basis Points: LIBOR Base Rate ---------------------------------------------------------- 1.00 - Eurocurrency Reserve Requirements
Examples of Fixed LIBOR Rate in a sentence
Each Revolving Loan made or maintained by the Bank shall bear interest during each period it is outstanding on the unpaid principal amount thereof at a rate per annum equal to the Fixed LIBOR Rate or the Base Rate, as applicable.
The 1m Fixed LIBOR Rate will be denoted by L1m, and the 3m Fixed LIBOR Rate by L3m.
As provided in Section 2.3(c) hereof, the Authority may elect that any such Revolving Loan bear interest at a Base Rate or at a Fixed LIBOR Rate, or continue as or convert to a LIBOR Rate Revolving Loan or a Base Rate Revolving Loan, as the case may be.
If the City, for and on behalf of its Department of Aviation, requests a Borrowing of, conversion to, or continuation of Fixed LIBOR Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.
Any such automatic conversion to Floating Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Fixed LIBOR Rate Loans.
More Definitions of Fixed LIBOR Rate
Fixed LIBOR Rate means, for the relevant Maturity Period of any Fixed Libor Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/16th of 1%) equal to (i) the Fixed Libor Screen Rate for such Maturity Period divided by (ii) one (1) minus the Reserve Requirement. The “Fixed Libor Screen Rate” is the London interbank offered rate administered by the ICE Benchmark Administration (or any other person, entity or association that takes over the administration of such rate) for USD deposits for a period in length equal to such Maturity Period, as displayed on the Screen Page as of 11:00 a.m., London time, two (2) Banking Days prior to the first day of such Maturity Period. If the Fixed Libor Screen Rate is less than zero, then such rate shall be deemed to be zero for purposes of this Note. If the Fixed Libor Screen Rate is not available at such time or for such Maturity Period, then the Fixed Libor Screen Rate shall be the Interpolated Rate at such time, subject to Section 6 in the event that the Bank shall conclude that it is not possible to determine such Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error).
Fixed 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: Fixed LIBOR Rate = Fixed LIBOR
Fixed LIBOR Rate means, as to any Fixed LIBOR Rate Loan, the rate per annum (rounded upward, if necessary, to the nearest one hundred-thousandth of a percentage point) equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), for a period of time comparable to such Fixed LIBOR Rate Loan for U.S. Dollar deposits (for delivery on the first day of such interest period) as published by Reuters (or another commercially available source providing quotations of BBA LIBOR as selected by Lender from time to time) as of 11:00 a.m. London time on the day that is two London Banking Days preceding the first day of such Fixed LIBOR Rate Loan. If for any reason such rate is not available, the term “Fixed LIBOR Rate” shall mean the rate (rounded upwards as described above, if necessary) determined on the basis of the British Bankers’ Association Libor Rate for deposits in U.S. Dollars for a period of time comparable to such Fixed LIBOR Rate Loan appearing on such other page or service selected by Administrative Agent that shows BBA LIBOR for deposits in U.S. Dollars for a comparable period (for delivery on the second succeeding Business Day) at approximately 11:00 a.m. (London time) on the second preceding Business Day; provided, however, if more than one rate is specified on such other page or service, the applicable rate shall be the arithmetic mean of all such rates. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserve Percentage with respect to LIBOR Rate deposits of Administrative Agent, then for any period during which such Reserve Percentage shall apply, the Fixed LIBOR Rate shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve Percentage.
Fixed LIBOR Rate means, with respect to each Interest Period, the rate of interest, expressed as an annual rate, equal to the simple average, rounded up to the nearest 1/16 of 1%, of the rates shown on the display referred to as the "LIBOR page" (or any display substituted therefor) of the Reuters U.S. Domestic Money Service transmitted through the Reuters monitor system as being the respective rates at which deposits in Dollars would be offered by the principal London offices of each of the banks named thereon to major banks in the London interbank market at approximately 11:00 a.m. (London time) on the day which is two (2) London Banking Days before the first day of such Interest Period for a period substantially coextensive with such Interest Period.
Fixed LIBOR Rate means, for each Fixed LIBOR Loan, a rate of ------------------ interest equal to LIBOR for a 30 day interest period on the first Business Day of a month plus the Applicable LIBOR Margin.
Fixed LIBOR Rate means a fixed rate equal to the Adjusted LIBOR ---------------- Rate plus the LIBOR Rate Margin.
Fixed LIBOR Rate means (a) for any Interest Period with respect to any Fixed LIBOR Rate Loan, a rate per annum determined by the Administrative Agent to be equal to the quotient obtained by dividing (i) the Fixed LIBOR Base Rate for such Fixed LIBOR Rate Loan for such Interest Period by (ii) one minus the Fixed LIBOR Rate Reserve Percentage for such Fixed LIBOR Rate Loan for such Interest Period and (b) for any day with respect to any Base Rate Loan bearing interest at a rate based on the Fixed LIBOR Rate, a rate per annum determined by the Administrative Agent to be equal to the quotient obtained by dividing (i) the Fixed LIBOR Base Rate for such Base Rate Loan for such day by (ii) one minus the Fixed LIBOR Rate Reserve Percentage for such Base Rate Loan for such day.