LIBOR Base definition
LIBOR Base means the rate per annum (rounded upwards, if necessary, to the nearest 1/16 of one percentage point (1%) shown on the display referred to as the "LIBOR page" (or any display substituted therefor) of the Telerate U.S. Domestic Money Service transmitted through the Telerate monitor system as being the respective rates at which U.S. dollar deposits would be offered two (2) Business Days prior to the beginning of the relevant Interest Period by the principal London offices of each of the banks named thereon to major banks in the London interbank Eurodollar market where the Eurodollar Office is located at the Relevant Local Time for delivery on the first day of such Interest Period for the number of days comprised therein and in the amount of the principal amount of the applicable LIBOR Loan.
LIBOR Base. Rate shall mean the offered rate for the period equal to or greater than the Interest Period for U.S. dollar deposits of not less than $1,000,000 as of 11:00 a.m. City of London, England time two (2) Business Days prior to the first day of the Interest Period as shown on the display designated as "British Bankers Association Interest Settlement Rates" on Reuter's for the purpose of displaying such rate. In the event such rxxx xx xot available on Reuter's, then such offered rate shall be otherwise independently detxxxxxxx by the Agent from an alternate, substantially independent source available to Agent or shall be calculated by Agent by substantially similar methodology as that theretofore used to determine such offered rate.
LIBOR Base. RATE shall mean, with respect to the applicable Interest Period, (a) the LIBOR Index Rate for such Interest Period, if such rate is available or (b) if the LIBOR Index Rate cannot be determined, the average (rounded upward, if necessary, to the next higher 1/100 of 1%) of the respective rates per annum of interest at which deposits in dollars are offered to Mercantile in the London interbank market by two (2) Eurodollar dealers of recognized standing, selected by Mercantile in its sole discretion, at such time on the date two (2) Eurodollar Business Days before the first day of such Interest Period as Mercantile in its sole discretion elects, for delivery on the first day of the applicable Interest Period for a number of days comparable to the number of days in such Interest Period and in an amount approximately equal to the principal amount of the LIBOR Loan to which such Interest Period is to apply.
Examples of LIBOR Base in a sentence
For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each LIBOR Rate Loan made by it at the LIBOR Base Rate used in determining the LIBOR Rate for such Loan by a matching deposit or other borrowing in the LIBOR market for a comparable amount and for a comparable period, whether or not such LIBOR Rate Loan was in fact so funded.
Each determination by Payee of the LIBOR Base Rate shall, in the absence of manifest error, be conclusive and binding.
If Payee notifies Maker that the circumstances giving rise to such repayment or conversion no longer apply, Maker may thereafter select a rate based upon the LIBOR Base Rate in accordance with the terms of this Note.
Determination of amounts payable under such Sections in connection with a LIBOR Loan shall be calculated as though each Lender funded its LIBOR Loan through the purchase of a deposit of the type and maturity corresponding to the deposit used as a reference in determining the LIBOR Base Rate applicable to such Loan, whether in fact that is the case or not.
From time to time, the Administrative Agent or Facility Agent will confirm CP Rate, LIBOR, Base Rate, and Applicable Interest Rate to the Indenture Trustee.
More Definitions of LIBOR Base
LIBOR Base. Rate shall mean, with respect to any LIBOR Loan for the applicable Interest Period, (a) the LIBOR Index Rate for such Interest Period, if such rate is available, or (b) if the LIBOR Index Rate is not available, the annual interest rate determined by the Lender in accordance with its usual procedures (which determination shall be conclusive absent manifest error) to be the Eurodollar rate two (2) Business Days prior to the first day of such Interest Period for an amount comparable to such LIBOR Loan and having a borrowing date and a maturity comparable to such Interest Period. LIBOR Index Rate shall mean, with respect to the applicable Interest Period, an annual rate (rounded upwards, if necessary, to the next higher 1/10,000 of 1%) equal to the British Bankers’ Association interest settlement rates for U.S. Dollar deposits for such Interest Period as of 11:00 a.m. (London time) on the day two (2) Business Days before the first day of such Interest Period as published by Bloomberg Financial Services, Dow Xxxxx Market Service, Telerate, Reuters or any other service from time to time used by Lender. LIBOR Loan shall mean any portion of a Loan bearing interest based on the LIBOR Rate. LIBOR Rate shall mean (a) the quotient of the (i) LIBOR Base Rate divided by (ii) one minus the applicable LIBOR Reserve Percentage plus (b) the Applicable Margin. The LIBOR Rate shall be adjusted automatically on and as of the effective date of any change in the LIBOR Reserve Percentage. LIBOR Reserve Percentage shall mean for any day that percentage (expressed as a decimal) which is in effect on such day, as prescribed by The Board of Governors of the Federal Reserve System (or any successor), for determining the maximum reserve requirement (including, without limitation, any basic, supplemental, emergency, special or marginal reserves) with respect to “Eurocurrency liabilities” as defined in Regulation D or with respect to any other category of liabilities which includes deposits by reference to which the interest rate on LIBOR Loans is determined, whether or not Lender has any Eurocurrency liabilities subject to such reserve requirement at such time. LIBOR Loans shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without the benefit of any credits for proration, exceptions or offsets which may be available from time to time to Lender. Loan and Loans shall have the meaning ascribed thereto in Section 2.01(a). Loan ...
LIBOR Base. Rate shall mean, with respect to the applicable Interest Period, (a) the LIBOR Index Rate for such Interest Period, if such rate is available or (b) if the LIBOR Index Rate is not available, the average (rounded upward, if necessary, to the next higher 1/10,000 of 1%) of the respective annual rates of interest at which deposits in U.S. Dollars are offered to Lender in the London interbank market by two (2) Eurodollar dealers of recognized standing, selected by Lender in its sole discretion, at or about 11:00 a.m. (London time) on the date two (2) New York Business Days before the first day of such Interest Period, for delivery on the first day of the applicable Interest Period for a number of days comparable to the number of days in such Interest Period and in an amount approximately equal to the principal amount of the LIBOR Loan to which such Interest Period is to apply.
LIBOR Base. Rate shall mean, with respect to the applicable Interest Period, --------------- (a) the LIBOR Index Rate for such Interest Period, if such rate is available or (b) if the LIBOR Index Rate is not available, the average (rounded upward, if necessary, to the next higher 1/10,000 of 1%) of the respective rates per annum of interest at which deposits in U.S. Dollars are offered to Lender in the London interbank market by two (2) Eurodollar dealers of recognized standing, selected by Lender in its sole discretion, at or about 11:00 a.m. (London time) on the date two (2) Eurodollar Business Days before the first day of such Interest Period, for delivery on the first day of the applicable Interest Period for a number of days comparable to the number of days in such Interest Period and in an amount approximately equal to the principal amount of the LIBOR Loan to which such Interest Period is to apply.
LIBOR Base. Rate shall mean, with respect to the applicable Interest --------------- Period, (a) the LIBOR Index Rate for such Interest Period, if such rate is available or (b) if the LIBOR Index Rate is not available, the average (rounded upward, if necessary, to the next higher 1/10,000 of 1%) of the respective rates per annum of interest at which deposits in U.S. Dollars are offered to Lender in the London interbank market by two (2) Eurodollar dealers of recognized standing, selected by Lender in its sole discretion, at or about 11:00 a.m. (London time) on the date two (2) Eurodollar Business Days before the first day of such Interest Period, for delivery on the first day of the applicable Interest Period for a number of days comparable to the number of days in such Interest Period and in an amount approximately equal to the principal amount of the LIBOR Loan to which such Interest Period is to apply. LIBOR Index Rate shall mean, with respect to the applicable ---------------- Interest Period, a rate per annum (rounded upwards, if necessary, to the next higher 1/10,000 of 1%) equal to the British Bankers' Association interest settlement rates for U.S. Dollar deposits for such Interest Period as of 11:00 a.m. (London time) on the day two (2) Eurodollar Business Days before the first day of such Interest Period as published by Bloomberg Financial Services, Dow Xxxxx Market Service, Telerate, Reuters or any other service from time to time used by Lender. LIBOR Loan shall mean any portion of the Loan bearing interest ---------- based on the LIBOR Rate. LIBOR Margin shall mean 725/1000 Percent (.725%) per annum. ------------ LIBOR Rate shall mean (a) the quotient of the (i) LIBOR Base Rate ---------- divided by (ii) one minus the applicable LIBOR Reserve Percentage plus (b) ---- the LIBOR Margin. The LIBOR Rate shall be adjusted automatically on and as of the effective date of any change in the LIBOR Reserve Percentage and/or the LIBOR Margin. LIBOR Reserve Percentage shall mean for any day that percentage ------------------------ (expressed as a decimal) which is in effect on such day, as prescribed by The Board of Governors of the Federal Reserve System (or any successor), for determining the maximum reserve requirement (including, without limitation, any basic, supplemental, emergency, special or marginal reserves) with respect to "Eurocurrency liabilities" as defined in Regulation D or with respect to any other category of liabilities which includes deposits by ref...
LIBOR Base as applicable to any Interest Period means the average ---------- (rounded upward, if necessary, to the next higher 1/100th of 1%) rate per annum at which deposits in dollars are offered in the London interbank market for the Interest Period selected by the Company in an amount approximately equal to $1,000,000 as such rate is reported by Telerate, Inc. on page 3750 at 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Interest Period or if such rate is not reported by Telerate, Inc., the rate per annum at which such dollar deposits are offered in the London interbank market on such date as reported by a successor reporting agency selected by the Administrative Agent.
LIBOR Base means, for any LIBOR Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Telerate Page 3750 (or any successor page) as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period. If for any reason such rate is not available, the term "Eurodollar Rate" shall mean, for any Eurodollar Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the London interbank offered rate for deposits in Dollars at approximately 11:00
LIBOR Base means, in respect of any particular Interest Period, the interest rate per annum for deposits in the London interbank eurocurrency market in Dollars for substantially the same number of days as such Interest Period that appears on Page 3750 of the Telerate Screen, or such other page as is a replacement therefor, as of approximately 11:00 a.m. (London time) on the Determination Date. If such rate is not available at such time for any reason, then "LIBOR Base" for such Interest Period will be the rate at which Dollar deposits approximately equal to the amount of the Loan and for a maturity comparable to such Interest Period are offered by the principal London office of the Lender or its parent in immediately available funds in the London interbank market of approximately 11:00 a.m. (London time) on the Determination Date.