LIBOR Daily Rate definition

LIBOR Daily Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR, or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) Business Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Rate shall be less than zero, then such rate will be deemed zero for purposes of this Agreement.

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LIBOR Daily Rate means a simple rate per annum equal to the sum of the BBA LIBOR Daily Rate plus 3.50%.

LIBOR Daily Rate or with respect to any rate that is an alternative or replacement for or successor to any of such rate (including, any Benchmark Replacement) or the effect of any of the foregoing, or of any Benchmark Replacement Conforming Changes.

Examples of LIBOR Daily Rate in a sentence

Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable on demand, at a rate per annum (the “Past Due Rate”) equal to the lesser of (i) the maximum non-usurious rate of interest allowed by applicable law or (ii) two percent (2%) plus the higher of (a) the Prime Rate, or (b) the Adjusted LIBOR Rate, or (c) the BBA LIBOR Daily Rate.
Upon receipt of such notice, the Borrowers may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or LIBOR Daily Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.
During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans or LIBOR Daily Rate Loans without the consent of the Required Lenders.
If for any reason on the date for determining the LIBOR Daily Rate, Administrative Agent shall determine that any of the circumstances or events described in Sections 1.7.4 and 1.7.5 of the Credit Agreement exist, then Administrative Agent shall promptly give to Borrower telephonic notice (confirmed as soon as practicable in writing) of such events or circumstances.
Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans or LIBOR Daily Rate Loans shall be suspended, (to the extent of the affected LIBOR Daily Rate Loans, Eurodollar Rate Loans or Interest Periods), and (y) the Eurodollar Rate component shall no longer be utilized in determining the Base Rate.

More Definitions of LIBOR Daily Rate

LIBOR Daily Rate. The term "LIBOR Daily Rate" shall mean (A) 3-month LIBOR (London interbank offered rate) as published in the Money Rates section of the Wall Street Journal Online for the last Business Day of the calendar month immediately proceeding the calendar day for which the calculation is being made divided by (B) 365. Any Interest Amounts due and owing to FAEC hereunder for the calendar days of a particular month shall be paid FAEC on the last Business Day of such month. The Bank and FAEC shall each be a third party beneficiary in respect of all representation, warranties and covenants of First American and Matrix and MAMC, respectively, under this Section 5.11.

LIBOR Daily Rate means the rate of interest equal to the average among interest rates (rounded upwards, if necessary, to the nearest 1/16th of 1%) as of 11:00 a.m. (London time), on any Business Day at which deposits in Pounds in Same Day Funds are offered to the International Agent in the London interbank market for a period of less than thirty (30) days in the approximate amount of the Loan to be made or continued as, or converted into, a LIBOR Daily Rate Loan denominated in Pounds or the Equivalent Amount in Pounds of any such Loan denominated in an Alternative Currency.

LIBOR Daily Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR, or a comparable or successor rate, which rate is approved by Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at or about 11:00 a.m., London time, two (2) LIBOR Business Days prior to such day, for U.S. Dollar deposits with a term of one (1) month commencing that day; provided that (a) to the extent a comparable or successor rate is approved by Administrative Agent in connection herewith, the approved rate will be applied in a manner consistent with market practice; provided, further, that to the extent such market practice is not administratively feasible for Administrative Agent, such approved rate will be applied in a manner as otherwise reasonably determined by Administrative Agent, and (b) if the LIBOR Daily Floating Rate shall be less than zero, such rate will be deemed zero for purposes of this Agreement.

LIBOR Daily Rate shall be defined as the per annum fluctuating rate of interest equal to the one month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Telerate Page 3750 as the one month London interbank offered rate for deposits in U.S. Dollars at approximately 11:00 a.m. (London time) on the second preceding Business Day (as hereinafter defined). "Telerate Page 3750" means the British Bankers Association Libor Rates (determined as of 11:00 a.m. London time) that are published by Bridge Information Systems, Inc. "Business Day" means a day on which the Lender is open for the conduct of substantially all of its banking business (excluding Saturdays and Sundays) and a day on which commercial banks are open for international business (including dealings in U.S. Dollar deposits in London, England). If for any reason such rate is not available, the Lender shall have the right to select a successor publication or reporting service as a source of the Libor Daily Rate. Interest shall be computed for the actual number of days which have elapsed from the date of each advance under the FILM Line calculated on the basis of a 360-day year.

LIBOR Daily Rate means a simple rate per annum equal to the sum of the BBA LIBOR Daily Rate plus (a) 1.75% prior to the earlier of (1) September 1, 2010 and (2) the date the SWAP Transaction, in existence on the date of this Agreement, terminates and (b) 3.50% on and following the earlier of (1) September 1, 2010 and (2) the date the SWAP Transaction, in existence on the date of this Agreement, terminates.

LIBOR Daily Rate or with respect to any comparable or successor rate thereto, other than liability arising from the gross negligence or willful misconduct of Administrative Agent in the administration of the Eurodollar Rate or LIBOR Daily Rate.