LIBOR Fixed Rate definition

LIBOR Fixed Rate means, for any Interest Period, a rate per annum determined by Agent to be equal to the LIBOR Base Rate plus the LIBOR Margin for such Interest Period divided by (1 minus the Reserve Requirement) for such Interest Period.

LIBOR Fixed Rate means a rate per annum equal to the LIBOR Rate plus one and one-fourth percent (1.25%).”

LIBOR Fixed Rate is defined in the definition of “Rate”.

Examples of LIBOR Fixed Rate in a sentence

• Interest on such LIBOR Fixed Rate Loan shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period shall exceed three months, the interest must be paid every three months, commencing three months from the beginning of such Interest Period).

• Thereafter, the obligation of the Lenders to make or maintain such LIBOR Fixed Rate Loan shall be suspended until Agent (upon the instruction of the Required Lenders) revokes such notice.

• Upon receipt of such notice, Administrative Borrower may revoke any pending request for a borrowing of, conversion to or continuation of such LIBOR Fixed Rate Loan or, failing that, will be deemed to have converted such request into a request for a borrowing of a Base Rate Loan in the amount specified therein.

• The appropriate Borrower or Borrowers shall pay interest on the unpaid principal amount of each LIBOR Fixed Rate Loan outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin) for LIBOR Fixed Rate Loans, at the Derived LIBOR Fixed Rate.

• Each prepayment of a LIBOR Fixed Rate Loan shall be in the principal amount of not less than the lesser of One Million Dollars ($1,000,000) or the principal amount of such Loan (or, with respect to an Alternate Currency Loan, the Dollar Equivalent (rounded to a comparable amount) of such amount), except in the case of a mandatory payment pursuant to Section 2.11 or Article III hereof.

More Definitions of LIBOR Fixed Rate

LIBOR Fixed Rate means the rate of interest per annum determined by the Calculation Agent based on the rate for United States dollar deposits for delivery on the LIBOR Index Reset Date for a period equal to one month as reported on Reuters Screen LIBOR0 1 page (or any successor page) at approximately 11:00 a.m., London time, on each Computation Date (or if not so reported, then as determined by the Calculation Agent from another recognized source of interbank quotation). Notwithstanding anything to the contrary in the foregoing, in the event that LIBOR shall be equal to or less than zero percent (0.00%), LIBOR shall be deemed to be zero percent (0.00%).

LIBOR Fixed Rate which means, for the Interest Period applicable to a LIBOR Fixed Rate Tranche, a rate per annum equal to the lesser of: (i) the sum of (1) an interest rate per annum equal to (x) LIBOR for the LIBOR Business Day that is two LIBOR Business Days before the first day of that Interest Period multiplied by (y) the Statutory Reserve Rate in effect for such Interest Period, plus (2) the LIBOR Margin for each Class of Borrowings in that LIBOR Fixed Rate Tranche (if any); and (ii) the Ceiling Rate for that day; and

LIBOR Fixed Rate which means, for the Interest Period applicable to a LIBOR Fixed Rate Tranche, a rate per annum equal to the lesser of: (i) the sum of (1) the quotient of (x) LIBOR for the LIBOR Business Day that is two LIBOR Business Days before the first day of that Interest Period divided by (y) 1.00 minus the Eurodollar Reserve Requirement for such Interest Period, plus (2) the LIBOR Margin for each Class of Borrowings in that LIBOR Fixed Rate Tranche (if any), rounded upwards, if necessary, to the nearest one-eighth percent (0.125%); and (ii) the Ceiling Rate for that day; and

LIBOR Fixed Rate. A per annum rate fixed at the Libor Rate, plus two percent (2.00%).

LIBOR Fixed Rate on page 3 of the Note is hereby modified to read in its entirety as follows:

LIBOR Fixed Rate means, with respect to any Interest Period, a rate of interest equal to the rate per annum equal to the British Bankers Association LIBOR Rate (or any successor thereto approved by the Bank if the British Bankers Association is no longer making a LIBOR rate available), as published by Reuters (or other commercially available source providing quotations of such rate as selected by the Bank from time to time) as determined at approximately 11:00 a.m. London time two (2) London Banking Days prior to the commencement of such Interest Period, for U.S. Dollar deposits (for delivery on the first day of such Interest Period) with a term equal to such Interest Period, as adjusted from time to time in the Bank’s sole and absolute discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs. If such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate method as reasonably selected by the Bank.

LIBOR Fixed Rate means the rate of interest equal to the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as selected by the Lender from time to time) as determined for each Interest Rate Change Date at approximately 11:00 a.m. London time two (2) Business Days prior to the Interest Rate Change Date, for U.S. Dollar deposits (for delivery on the first day of such interest period) with a term of one month, as adjusted from time to time in the Lender’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs; if such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate method as reasonably selected by the Lender. For purposes hereof, “Business Day” shall mean each day other than a Saturday, a Sunday, or any holiday on which commercial banks are closed for business; and “Interest Rate Change Date” shall mean the first day of each one month period; provided, however, that if any such day is not a Business Day, at Lender’s option, the Interest Rate Change Date shall be the next succeeding Business Day. The interest rate shall change on each Interest Rate Change Date.” All references in the Loan Agreement to the defined term “LIBOR Daily Floating Rate” are hereby deleted and replaced by the new defined term “LIBOR Fixed Rate.”