LIBOR Adjusted Rate definition

LIBOR Adjusted Rate with respect to each day during each Interest Period pertaining to a LIBOR Loan, a rate per annum determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%):

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LIBOR Adjusted Rate with respect to each day during each Interest Period pertaining to a LIBOR Loan, a rate per annum determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%): LIBOR --------------------------------- 1.00 - LIBOR Reserve Requirements

LIBOR Adjusted Rate means, with respect to any LIBOR Loan, a rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined by Agent to be equal to the quotient of (i) LIBOR for such Loan for the Interest Period for such Loan divided by (ii) 1 minus the Reserve Requirement for such Loan for such Interest Period.

Examples of LIBOR Adjusted Rate in a sentence

• The Agent shall as soon as practicable notify the Borrower and the Lenders of each determination of a LIBOR Adjusted Rate.

• The Administrative Agent shall as soon as practicable notify the Borrower and the Banks of each determination of a LIBOR Adjusted Rate.

• For purposes of calculating amounts payable by the Borrowers to the Lenders under this Section, each Lender shall be deemed to have funded each LIBOR Loan made by it at the LIBOR Adjusted Rate (excluding the impact of the proviso to the definition thereof) for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such LIBOR Loan was in fact so funded.

• In the event that Debtor fails to properly or timely Convert or Continue, such portion of the Loan will be automatically Converted to the Prime Rate at the end of the then current Interest Period (if LIBOR Adjusted Rate is in effect).

• Until maturity (whether by acceleration, declaration, extension or otherwise), so long as no Event of Default shall have occurred and be continuing, interest shall accrue each day on each LIBOR Rate Advance, from and including the Draw Date to the date such LIBOR Rate Advance is paid in full, at the LIBOR Adjusted Rate in effect for that day.

More Definitions of LIBOR Adjusted Rate

LIBOR Adjusted Rate means the LIBOR Rate, plus two and three-quarters percent (2.75%) per annum.

LIBOR Adjusted Rate means the LIBOR Rate, plus two and one-half percent (2.50%) per annum.

LIBOR Adjusted Rate means with respect to the applicable Interest Period, the per annum rate of interest equal to the Applicable Increment added to the LIBOR Rate.

LIBOR Adjusted Rate means, on any day, a rate per annum equal to the lesser of:

LIBOR Adjusted Rate. The term "LIBOR Adjusted Rate" shall mean, with respect to each particular LIBOR Advance and the associated LIBOR Rate, the rate per annum calculated by Agent (rounded upwards, if necessary, to the next higher 0.01%) determined on a daily basis pursuant to the following formula: LIBOR Adjusted Rate = LIBOR Rate + Applicable LIBOR Margin No LIBOR Adjusted Rate shall ever exceed the Highest Lawful Rate.

LIBOR Adjusted Rate means the rate per annum equal to the sum of the Applicable Margin and One-Month LIBOR, rounded upward to the nearest 1/16th of 1%, as determined on each Continuation Date; and being a variable interest rate which is subject to adjustment on each Continuation Date in accordance with changes in the One-Month LIBOR. As of the date of the Credit Agreement, One-Month LIBOR equals 0.44% per annum and the LIBOR Adjusted Rate equals 4.125% per annum.

LIBOR Adjusted Rate. For any day with respect to a LIBOR Rate Loan, the rate obtained by dividing (a) the LIBOR Rate for such Interest Period by (b) a percentage equal to 1 minus the stated maximum rate, if any (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” (as that term is used in Regulation D), if such liabilities were outstanding. The LIBOR Adjusted Rate shall be adjusted automatically on and as of the effective date of any change in the reserve rate under Regulation D.