LIBO Rate Spread definition

LIBO Rate Spread or “Commitment Fee”, as the case may be, applicable on such date to the Total Leverage Ratio: Level I - When the TLR > 3.75 0.75 % 2.25 % .500 Level II - When the TLR < 3.75 and > 3.25 0.50 % 2.00 % .375 Level III - When the TLR < 3.25 and > 2.75 0.25 % 1.75 % .250 Level IV - When the TLR < 2.75 0.00 % 1.50 % .200 *TLR is the abbreviation for Total Leverage Ratio. The Total Leverage Ratio is calculated for the most recently-completed Four Quarter Period. Until the receipt by Administrative Agent of the first quarterly Compliance Certificate after the Effective Date, the Total Leverage Ratio shall be deemed to be at Level III. The Applicable Rate, as adjusted to reflect such calculations, shall become effective on the date of receipt by the Administrative Agent of written notice from the Borrower of the Total Leverage Ratio applicable to such Four Quarter Period. If Borrower fails to timely furnish to the Administrative Agent written notice of the Total Leverage Ratio, then the Applicable Rate in effect on the last day of the last Four Quarter Period for which the Total Leverage Ratio was calculated shall remain in effect until a new Applicable Rate can be calculated, which new Applicable Rate shall become effective as provided in the immediately preceding sentence.
Sample 1
LIBO Rate Spread means a percentage, determined as set forth in Section 2.4.
Sample 1
LIBO Rate Spread means (a) during the Original Term, three and one half percent (3.5%); (b) during the First Extension Term (provided Borrower exercises its first Option to Extend in accordance with the terms of Section 2.3 hereof), four and one half percent (4.5%); and (c) during the Second Extension Term (provided Borrower exercises its second Option to Extend in accordance with the terms of Section 2.3 hereof), five and one half percent (5.5%); provided, however, that immediately after the Release Date, the LIBO Rate Spread shall be four and one half percent (4.5%) during any Second or Third Extension Term. In the event the Obligations are not repaid in full on the Maturity Date, the LIBO Rate Spread for all periods after the Maturity Date until all Obligations are repaid in full shall be the LIBO Rate Spread in effect on the day prior to the Maturity Date.
Sample 1

More Definitions of LIBO Rate Spread

LIBO Rate Spread means: (a) during the Original Term, three and one half percent (3.5%); (b) during the First Extension Term (provided Borrower exercises its first Option to Extend in accordance with the terms of Section 2.3 hereof), four and one half percent (4.5%); and (c) during the Second Extension Term (provided Borrower exercises its second Option to Extend in accordance with the terms of Section 2.3 hereof), five and one half percent (5.5%). In the event the Obligations are not repaid in full on the Maturity Date, the LIBO Rate Spread for all periods after the Maturity Date until all Obligations are repaid in full shall be the LIBO Rate Spread in effect on the day prior to the Maturity Date.
Sample 1
LIBO Rate Spread means four percent (4.00%).
Sample 1
LIBO Rate Spread means three and 15/100th percent (3.15%).
Sample 1

Related to LIBO Rate Spread

  • LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Central Bank Rate Spread means, with respect to any RFR Banking Day, the difference (expressed as a percentage rate per annum) (calculated by the Administrative Agent) between: (i) XXXXX for that RFR Banking Day; and (ii) the Central Bank Rate prevailing at the close of business on that RFR Banking Day.

  • LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Page 3750 of the Telerate Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the "LIBO Rate" with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period.

  • Eurodollar Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • Eurodollar Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • LIBOR Reserve Percentage means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted by Bank for expected changes in such reserve percentage during the applicable Fixed Rate Term.

  • Eurocurrency Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirements) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurocurrency Rate for each outstanding Eurocurrency Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurocurrency Reserve Percentage.

  • USD LIBOR means the London interbank offered rate for U.S. dollars.

  • Applicable LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.