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
If a Borrower fails to specify a Type of Loan in a Loan Notice or if a Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the case of a failure to timely request a continuation of Loans denominated in currencies other than Dollars, such Loans shall be continued as Fixed LIBOR Rate Loans in their original currency with an Interest Period of one month.
If a Borrower requests a Borrowing of, conversion to, or continuation of Fixed LIBOR Rate Loans in any Loan Notice, but fails to specify an Interest Period, the Interest Period will be deemed to be one month.
Prepayments of Fixed LIBOR Rate Loans hereunder shall be accompanied by accrued interest on the amount prepaid and breakage or other amounts due, if any, under Section 3.05.
Any automatic conversion to Base 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.
In the case of any such request pertaining to Fixed LIBOR Rate Loans, the Administrative Agent shall promptly notify each Lender thereof; and in the case of any such request pertaining to Letters of Credit or Swingline Loans, the Administrative Agent shall promptly notify the applicable L/C Issuer or Swingline Lender, respectively, thereof.
More Definitions of Fixed LIBOR Rate
Fixed LIBOR Rate means the rate per annum determined by the ---------------- Administrative Agent by dividing (the resulting quotient rounded upwards, if necessary, to the nearest 1/16th of 1% per annum)
Fixed LIBOR Rate means, as to a particular Interest Period, a rate per annum equal to the rate for United States dollar deposits with maturities comparable to such Interest Period which appears on Telerate Page 3750 as of 11:00 a.m., London time, two (2) Banking Days prior to the commencement of such Interest Period, provided, however, that if such rate does not appear on Telerate Page 3750, the Fixed LIBOR Rate applicable to a particular Interest Period shall mean a rate per annum equal to the rate at which United States dollar deposits in an amount approximately equal to the LIBOR Loan in question, and with maturities comparable to such Interest Period with respect to which such Fixed LIBOR Rate is applicable, are offered in immediately available funds in the London interbank market to the London office of the Lender by leading banks in the Eurodollar market at 11:00 a.m., London time, two (2) Banking Days prior to the commencement of the Interest Period to which such Fixed LIBOR Rate is applicable, and provided also, however, the Fixed LIBOR Rate is subject to correction if any correction is made in such rate and displayed by the Associated Press-Dow Xxxxx Telerate Service within one (1) hour of the time when such rate is first displayed.
Fixed LIBOR Rate means an annualized fixed rate, for the applicable Rate Period, (rounded upward to the fourth decimal place) that is equal to the sum of LIBOR for the applicable Rate Period, plus the Applicable Margin; provided, however, that upon the occurrence and during the continuance of an Event of Default (and without any notice given with respect thereto), “Fixed LIBOR Rate” shall mean the Default Rate.
Fixed LIBOR Rate means the Default Rate.
Fixed LIBOR Rate means, for each Interest Period, a per annum rate of interest equal to Fixed LIBOR, which Fixed LIBOR Rate shall remain fixed during 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, 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).