LIBO Reserve Percentage means with respect to an Interest Period for a LIBO Rate Loan, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves and taking into account any transitional adjustments) which is imposed under Regulation D on eurocurrency liabilities.
LIBO 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 LIBO Rate for each outstanding Eurocurrency Borrowing shall be adjusted automatically as of the effective date of any change in the LIBO Reserve Percentage.
LIBO Reserve Percentage is defined in Section 4.5.
Examples of LIBO Reserve Percentage in a sentence
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.
More Definitions of LIBO Reserve Percentage
LIBO Reserve Percentage 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 Board or any other central banking or financial regulatory authority 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 LIBO Rate for each outstanding Eurocurrency Loan shall be adjusted automatically as of the effective date of any change in the LIBO Reserve Percentage.
LIBO Reserve Percentage means, relative to any day of any Interest Period for LIBO Rate Loans, the maximum aggregate (without duplication) of the rates (expressed as a decimal fraction) of reserve requirements (including all basic, emergency, supplemental, marginal and other reserves and taking into account any transitional adjustments or other scheduled changes in reserve requirements) under any regulations of the Board of Governors of the Federal Reserve System (the "BOARD") or other Governmental Authority having jurisdiction with respect thereto as issued from time to time and then applicable to assets or liabilities consisting of "Eurocurrency Liabilities", as currently defined in Regulation D of the Board, having a term approximately equal or comparable to such Interest Period.
LIBO Reserve Percentage means with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves and taking into account any transitional adjustments) which is actually imposed on a Lender under Regulation D on eurocurrency liabilities. License shall have the meaning set forth in Section 4.1.23. Lien shall mean any mortgage, deed of trust, lien, pledge, hypothecation, assignment, security interest, or any other encumbrance or charge on or affecting Borrower, the Property, any portion thereof or any interest therein, including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, the filing of any financing statement, and the filing of mechanic’s, materialmen’s and other similar liens and encumbrances. Loan shall mean the loan in the amount of up to One Hundred Twenty Million and NO/100 Dollars ($120,000,000.00) made by Lenders to Borrower pursuant to this Agreement. Loan Documents shall mean, collectively, this Agreement, the Note, the Security Instrument, the Assignment of Leases, the Assignment of Agreements, the Environmental Indemnity, the Assignment of Management Agreement, the Sublease Subordination, the Account Agreement, the Recourse Guaranty and all other documents executed and/or delivered by Borrower or any of its Affiliates in connection with the Loan including any certifications or representations delivered by or on behalf of Borrower, any Affiliate of Borrower, the Manager, or any Affiliate of the Manager (including, without limitation, any certificates in connection with any legal opinions delivered on the date hereof), together with all of the Security Documents executed by the Transaction Parties. Loan Sale shall have the meaning set forth in Section 15.7.
LIBO Reserve Percentage means the percentage representing the reserve requirement applicable to Eurocurrency Liabilities pursuant to Regulation D of the Board of Governors of the Federal Reserve System (or any successor thereto). In determining the LIBO Reserve Percentage, Agent shall take into account any transitional adjustment or phase-in provisions of the reserve requirements otherwise applicable to Eurocurrency Liabilities during the applicable LIBOR Interest Period, and, in the event of any change or variation in the reserve requirements during the applicable LIBOR Interest Period, Agent may use any reasonable averaging or attribution methods which it deems appropriate. The determination by Agent of any applicable LIBO Reserve Percentage shall be conclusive, absent manifest error. Failure by Agent to take into account the LIBO Reserve Percentage when calculating interest due with respect to the outstanding indebtedness of the Loan shall not constitute, whether by course of dealing or otherwise, a waiver by Agent of its right to collect such amounts for any future period.
LIBO Reserve Percentage means, for any day, the maximum rate (expressed as a decimal) at which any lender subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against Eurocurrency Liabilities, if such liabilities were outstanding. The LIBO Reserve Percentage shall be adjusted automatically on and as of the effective date of any change therein.
LIBO Reserve Percentage means, for any LIBO Rate Advance, the rate, expressed as a decimal, at which reserves (including, without limitation, any marginal, supplemental or emergency reserves) are required to be maintained by a 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.
LIBO 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 Board for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to eurodollar funding (currently referred to as “Eurocurrency liabilities”). The LIBO Rate for each outstanding Eurodollar Borrowings (and ABR Borrowing where interest is determined pursuant to clause (c) of the definition of Alternate Base Rate) shall be adjusted automatically as of the effective date of any change in the LIBO Reserve Percentage.