Examples of LIBO Interest Period in a sentence
Request for Advances at the LIBO Rate shall be made on written notice from the Borrower to the Agent received by the Agent no later than 11:00 a.m. (Central Time) on the third (3rd) Business Day before such LIBO Rate Advance, specifying the amount thereof (including the amount of each Tranche, if more than one) and the LIBO Interest Period (or interest Periods, if more than one tranche).
The Borrowers shall notify the Agent by telephone no later than 11:00 A.M. at least three London Business Days in advance of each proposed LIBO Loan, specifying the date and the amount of the proposed LIBO Loan and the length of the proposed LIBO Interest Period, and the Agent shall in turn notify each other Bank of the proposed LIBO Loan by 11:00 A.M. on the second London Business Day preceding the proposed LIBO Loan.
At oral argument, OSM contended that the adjective “scheduled” caused the plain meaning of the phrase “scheduled payment” to refer only to the payments scheduled in the original Loan Agreement in reference to the last day of each LIBO Interest Period.
An interest rate per annum equal to the LIBO Margin plus the rate per annum obtained by dividing (a) the rate of interest per annum at which deposits in United States dollars are offered in the London Interbank Market two (2) Business Days prior to the commencement of a LIBO Interest Period, by (b) an amount equal to 1 minus the LIBO Reserve Percentage for such LIBO Interest Period.
For any LIBO Rate Advance, the rate at which reserves (including, without limitation, any marginal, supplemental or emergency reserves) are required to be maintained by Lender two (2) Business Days prior to the commencement of a LIBO Interest Period against Eurocurrency liabilities having a term substantially equal to such LIBO Interest Period, expressed as a decimal.