LIBOR-Based Rate definition

LIBOR-Based Rate means, with respect to each Interest Period, the per annum interest rate equal to the London Interbank Offered Rate which appears on Telerate Page 3750 at approximately 11:00 a.m. (London time) two LIBOR Business Days prior to the first day of such Interest Period for deposits of United States dollars for a period of time comparable to the Interest Period, and in an amount comparable to the principal amount of the Loan, plus 0.35%.

LIBOR-Based Rate means a per annum interest rate which is equal to the quotient of the following:

LIBOR-Based Rate means (i) for the first Interest Period, an interest rate per annum equal to six and fifty-three one-hundredths percent (6.53%) and (ii) for each succeeding Interest Period until Floating Rate Tranche B is satisfied, an interest rate per annum equal at all times to two hundred (200) basis points above the one-month LIBOR, in each case as determined by Payee prior to the commencement of each Interest Period.

Examples of LIBOR-Based Rate in a sentence

• To the extent the unpaid portion of the principal of the Loan during such Interest Period equals or is less than the amount on deposit in the Credit Enhancement Account, the rate for such Interest Period on such principal portion shall be the LIBOR-Based Rate.

• Interest on the Loan shall be calculated on the basis of the actual number of days elapsed during the applicable Interest Period divided by (i) 360, to the extent the LIBOR-Based Rate is applicable, or (ii) 365 or 366, as the case may be, to the extent the Lender Rate is applicable.

• The Trustee shall, as soon as practicable, notify the Seller, the Master Servicer and the Credit Enhancement Provider of each determination of the Lender Rate and of the LIBOR-Based Rate.

• The LIBOR-Based Rate shall remain in effect, subject to the provisions hereof, from and including the first day of the Interest Period to and excluding the last day of the Interest Period for which it is determined.

• At the time of any additional loan described in this Section 8, Discover Bank as Servicer and the Credit Enhancement Provider may agree in writing that the Supplemental Credit Enhancement Amount, the Increased Credit Enhancement Amount or the Additional Credit Support Amount, as applicable, shall bear interest at a different LIBOR-Based Rate, which rate shall reflect prevailing market conditions and the expected duration of such additional loan.

More Definitions of LIBOR-Based Rate

LIBOR-Based Rate means an annual rate of interest equal to the sum of (i) the LIBOR Rate in effect as of the first day of the LIBOR Period for which the LIBOR-Based Rate is being determined plus (ii) the Applicable LIBOR Rate Margin then in effect.

LIBOR-Based Rate means, for any Interest Period in respect of any LIBOR Loan, an interest rate per annum (rounded upward, if necessary, to the nearest 1/16 of 1%) equal to LIBOR for such Interest Period divided by 1 minus the Reserve Requirement for such Interest Period.

LIBOR-Based Rate means the LIBOR Rate plus the Applicable Margin.

LIBOR-Based Rate shall have the meaning given that term in Section 2.6(c) below.

LIBOR-Based Rate means a per annum rate of interest equal at all times to the sum of the BBA Libor Daily Floating Rate plus the Applicable Margin. The Libor-Based Rate shall change immediately and contemporaneously with each change in the BBA Libor Daily Floating Rate.

LIBOR-Based Rate means a variable rate at which interest may accrue on all or a portion of either of the Loans under the terms of this Agreement, which rate is determined by reference to the London Interbank Offered Rate.

LIBOR-Based Rate means a fixed rate of one percent (100 basis points) ---------------- in excess of the per annum rate of interest most recently published in The Wall Street Journal as of the close of business on the date hereof and on and after the most recent Interest Rate Determination Date (being the rate quoted for the immediately preceding business day) as the London Interbank Offered Rate for U.S. dollar deposits having a term of ninety (90) days. The Lender shall determine the LIBOR-Based Rate on the date hereof and on each Interest Rate Determination Date.