Floating LIBOR Rate definition

Floating LIBOR Rate means, on any date the same is to be determined, the rate per annum equal to LIBOR or a comparable or successor rate if LIBOR is no longer available, which rate is approved by the Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time), for deposits in the relevant currency with a term of one (1) month commencing that day; provided that, if the Floating LIBOR Rate shall be less than zero (0), such rate shall be deemed to be zero (0) for purposes of this Credit Agreement.

Floating LIBOR Rate means, for any day, the fluctuating rate of interest equal to the one month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Telerate Page 3750 (or any successor page) as the one month London interbank offered rate for deposits in U.S. dollars at approximately 11:00 a.m. (London time) on such day, as adjusted

Floating LIBOR Rate means a rate per annum determined by the Administrative Agent pursuant to the following formula: Floating LIBOR Rate = Floating LIBOR Base Rate

Examples of Floating LIBOR Rate in a sentence

• 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.

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

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

• Within each Loan, prepayments will be applied first to Base Rate Loans and Floating LIBOR Rate Loans, then to Fixed LIBOR Rate Loans in direct order of Interest Period maturities.

• The principal source of income and funds for the Bancorp (parent company) are dividends from its subsidiaries.

More Definitions of Floating LIBOR Rate

Floating LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following:

Floating LIBOR Rate means, on any date the same is to be determined, the rate per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date for deposits in the relevant currency with a term of one month commencing that day.

Floating LIBOR Rate means the fluctuating rate of interest equal to the one month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the one month London interbank offered rate for deposits in U.S. Dollars at approximately 11:00 a.m. (London time) on each Business Day of each calendar month prior to the Commitment Termination Date, as adjusted from time to time in the Administrative Agent's sole discretion for then applicable reserve requirements, deposit insurance, assessment rates and other regulatory costs; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates. "Telerate Page 3750" means the British Bankers Association Libor Rates (determined as of 11:00 a.m. London time) that are published by Bridge Information Systems, Inc.

Floating LIBOR Rate means the fluctuating rate of interest equal to the one-month rate of interest (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) on the second preceding Business Day as adjusted from time to time in the Agent's sole discretion for then-applicable reserve requirements, deposit insurance assessment rates and other regulatory costs; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates.

Floating LIBOR Rate means an annual rate equal to the one-month LIBOR rate quoted by Bank from Telerate Page 3750 or any successor thereto, which shall be that one-month LIBOR rate in effect and reset each New York Banking Day, adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation.

Floating LIBOR Rate means a fluctuating rate of interest equal to the one month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Telerate Page 3750 (or any successor page) as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) on the second preceding business day as adjusted from time to time in Lender's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs. If for any reason such rate is not available, the term "LIBOR Rate" shall mean the fluctuating rate of interest equal to the one month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) on the second preceding business day, as adjusted from time to time in Lender's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs; provided, however, if more than one rate is specified on Reuters Screen LIBO page, the applicable rate shall be the arithmetic mean of all such rates. "Telerate Page 3750" means the British Bankers Association Libor Rates (determined as of 11:00 a.m. London time) that are published by Dow Jones Telerate, Xxx. So long as no event of default or any act, event or condition which, with notice or the passage of time or both, would constitute an event of default under any Loan Document has occurred and is continuing, the Borrower shall have the right to elect that specified amounts advanced under this Note, bear interest for specified periods (each being herein referred to as a "LIBOR Rate Funding Period"), at the LIBOR Rate, plus one and one half percent (1.50%)(the "Adjusted LIBOR Rate"). Election by the Borrower of a LIBOR Rate interest rate as herein provided shall be made in a writing delivered to the Lender not less than three (3) Banking Days prior to the date of on which the LIBOR Rate is to begin, and shall specify (1) the Banking Day on which the LIBOR Rate is to be effective and the period for which the LIBOR Rate shall be applicable (which shall be only 30, 60, 90 or 180 days and the expiration of which may not be later than the "Maturity Date"); and (2) the principal amount of this Note which shall bear interest at the Adjusted LIBOR Rate (each being herein referred to as a "LIBOR Rate Funding Segment"...

Floating LIBOR Rate. With respect to any date of determination, the average offered rate for one month deposits in United States dollars (rounded upward, if necessary, to the nearest 1/16 of 1%), which appears on Telerate page 3750 as of 11:00 A.M., London time (or such other time as of which such rate appears) on such date of determination, or the rate for such deposits determined by the Bank at such time based on such other published service of general application as shall be selected by the Bank for such purpose; provided, that in lieu of determining the rate in the foregoing manner, the Bank may determine the rate based on rates at which one month deposits in United States dollars are offered to the Bank in the interbank Eurodollar market at such time for delivery in Immediately Available Funds (rounded upward, if necessary, to the nearest 1/16 of 1%). "Telerate page 3750" means the display designated as such on the Telerate reporting system operated by Telerate System Incorporated (or such other page as may replace page 3750 for the purpose of displaying London interbank offered rates of major banks for United States dollar deposits). For purposes of determining any interest rate hereunder or under any other Loan Document which is based on the Floating LIBOR Rate, such interest rate shall change as and when the Floating LIBOR Rate shall change.