Floating LIBOR definition

Floating LIBOR means, for any day, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) equal to the rate appearing on Bloomberg Professional (or, if not available, any other nationally recognized trading screen reporting the British Bankers' Association LIBOR) at 10:00 a.m. (Central time) as the British Bankers' Association LIBOR for deposits in U.S. Dollars with a term equivalent to one month. In the event that such rate does not appear on Bloomberg Professional, "Floating LIBOR" for purposes of this definition shall be determined by reference to such other comparable publicly available service for displaying London inter-bank offered rates as may be selected by the Administrative Agent.
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Floating LIBOR means, for any day with respect to any Loan, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) equal to the rate obtained by dividing (i) the actual or estimated per annum rate, or the arithmetic mean of the per annum rates, of interest for deposits in U.S. dollars for one (1) month, as determined by the Administrative Agent in its good faith discretion based upon information which appears on page LIBOR01, captioned British Bankers Assoc. Interest Settlement Rates, of the Reuters America Network, a service of Reuters America Inc. (or such other page that may replace that page on that service for the purpose of displaying London interbank offered rates, or if such service ceases to be available or ceases to be used by the Administrative Agent, such other reasonably comparable money rate service as the Administrative Agent may select) or upon information obtained from any other reasonable procedure, as of two (2) Business Days prior to the commencement of such interest period applicable to such Loan; by (ii) an amount equal to one minus the stated maximum rate (expressed as a decimal), if any, of all reserve requirements (including, without limitation, any marginal, emergency, supplemental, special or other reserves) that is specified on each date LIBOR is determined by the Board of Governors of the Federal Reserve System (or any successor agency thereto) for determining the maximum reserve requirement with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of such Board) maintained by a member bank of such system, or any other regulations of any Governmental Authority having jurisdiction with respect thereto, all as conclusively determined by the Administrative Agent. Subject to any maximum or minimum interest rate limitation specified herein or by applicable law, LIBOR shall change automatically without notice to any Related Party immediately on the first day of each Interest Period, with any change thereto effective as of the opening of business on the day of any change.
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Floating LIBOR means, with respect to any day, the rate per annum determined on the basis of the rate for one month deposits appearing on Page 3750 of the Telerate screen (or any successor page thereto) as of 11:00 A.M., London time, on such day. In the event that such rate does not appear on Page 3750 of the Telerate screen (or otherwise on such screen), the “Floating LIBOR” shall be determined by reference to such other comparable publicly available service for displaying eurodollar rates as may be selected by the Administrative Agent or, in the absence of such availability, by reference to the rate at which the Administrative Agent is offered one month deposits of $1,000,000 for delivery on such day, at or about 11:00 A.M., New York City time, on such day in the interbank eurodollar market where its eurodollar and foreign currency and exchange operations are then being conducted.
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Examples of Floating LIBOR in a sentence

  • Within the foregoing limits, and subject to the other terms and conditions hereof, Borrower may borrow under this Section 2.4, prepay under Section 3.2, and reborrow under this Section 2.4. Each Swing Line Loan shall be a Daily Floating LIBOR Loan.

  • Each change in the Base Rate, Daily Floating LIBOR, and the Maximum Rate is effective, without notice to Borrower or any other Person, upon the effective date of change.

  • The determination of the Eurocurrency Rate and Floating LIBOR Rate by Administrative Agent shall be conclusive in the absence of manifest error.

  • Daily Floating LIBOR Rate Loans shall automatically continue each day as Daily Floating LIBOR Rate Loans unless and until the Company delivers a timely notice requesting a conversion of such Daily Floating LIBOR Rate Loans to another Type of Loan.

  • Swing Line Loans shall be Floating LIBOR Advances or Base Rate Advances, as shall be selected by the Company.

  • Such payment shall be applied first, to any Swing Line Loans outstanding, second, to any Revolving Loans in Dollars (first to Base Rate Advances, then Floating LIBOR Advances in a manner reasonably calculated to minimize payments under Section 2.6), third, to any Revolving Loans in Alternative Currencies, and fourth, to be held as cash collateral for Letter of Credit Obligations as provided in Section 10.3.

  • Each Floating LIBOR Advance or Base Rate Advance of the Swing Line Loans shall be in a minimum amount of $5,000 or an integral multiple thereof above such amount.

  • Each Floating LIBOR Advance and Base Rate Advance shall continue as a Floating LIBOR Advance or Base Rate Advance (as the case may be) until notice of conversion shall be given as provided above.

  • Each partial prepayment of a Swing Line Loan that is a Floating LIBOR Advance or Base Rate Advance shall be in an amount of $5,000 or an integral multiple thereof above such amount, or if less, the remaining principal balance.

  • Each Swing Line Loan shall be a Base Rate Loan or a Daily Floating LIBOR Rate Loan.


More Definitions of Floating LIBOR

Floating LIBOR when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at the Adjusted Floating LIBOR Rate.
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Floating LIBOR means at any time a floating per annum rate of interest equal to the Adjusted Eurodollar Rate which at such time would be quoted to apply to a Fixed LIBOR Loan having an Interest Period of 30 days if such Fixed LIBOR Loan were made two Business Days following such time. Any change in Floating LIBOR resulting from a change in such Adjusted Eurodollar Rate shall become effective as of 12:01 a.m. on the Business Day on which each such change occurs.
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Floating LIBOR means on any Business Day, the offered rate -------------- in the London interbank market for deposits in United States Dollars of amounts equal or comparable to the principal amount of a Floating LIBOR Borrowing offered for a 90-day interest period, as shown on the Reuters Screen LIBO page at approximately 10:00 a.m. (Charlotte, North Carolina time) on such Business Day; provided, however, that (a) if more than one offered rate as described above appears on the Reuters Screen LIBO page, the rate used to determine the Floating LIBOR will be the consensus rate, if any, shown on such LIBO page, and if no consensus rate is available, the rate used to determine the Floating LIBOR will be the arithmetic average (rounded upward, if necessary, to the next higher 1/10 of 1%) of such offered rates, or (b) if no such offered rates appear, the rate used will be the arithmetic average (rounded upward, if necessary, to the next higher 1/10 of 1%) of rates quoted by the Lender at approximately 10:00 a.m. (Charlotte, North Carolina time) on such Business Day for deposits in United States Dollars offered to leading European banks for a 90-day interest period in an amount equal or comparable to the principal amount of such Floating LIBOR Borrowing. If the Lender ceases to use the Reuters Screen LIBO page for determining interest rates based on eurodollar deposit rates, a comparable internationally recognized interest rate reporting service shall be used to determine such offered rates.
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Related to Floating LIBOR

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Floating Rate means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day plus (ii) the Applicable Margin, in each case changing when and as the Alternate Base Rate changes.