{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "each-libor-loan", "type": "definition", "offset": [11, 26]}, {"key": "relevant-interest-period", "type": "definition", "offset": [35, 59]}, {"key": "the-rate", "type": "definition", "offset": [61, 69]}, {"key": "per-annum", "type": "clause", "offset": [70, 79]}, {"key": "by-the-agent", "type": "clause", "offset": [158, 170]}, {"key": "equal-to", "type": "definition", "offset": [177, 185]}, {"key": "london-interbank-offered-rate", "type": "definition", "offset": [210, 239]}, {"key": "divided-by", "type": "clause", "offset": [285, 295]}, {"key": "eurocurrency-reserve-requirement", "type": "clause", "offset": [314, 346]}], "snippet": "means, for each LIBOR Loan for the relevant Interest Period, the rate per annum (rounded upward, if necessary, to the nearest one-sixteenth of 1%) determined by the Agent to be equal to the quotient of (a) the London Interbank Offered Rate for such LIBOR Loan for such Interest 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241]}], "snippet": "means, for any LIBOR Loan, a rate per annum determined by Administrative Agent to be equal to the quotient of (1) the LIBOR Base Rate for such LIBOR Loan for the Interest Period therefor divided by (2) one minus the LIBOR Reserve Requirement for such LIBOR Loan for such Interest Period.", "size": 15, "samples": [{"hash": "hz222SCMWDR", "uri": "/contracts/hz222SCMWDR#libor-interest-rate", "label": "Term Loan Agreement (Avalonbay Communities Inc)", "score": 34.1471595764, "published": true}, {"hash": "7ycNRuW1UeM", "uri": "/contracts/7ycNRuW1UeM#libor-interest-rate", "label": "Term Loan Agreement (Avalonbay Communities Inc)", "score": 30.1581115723, "published": true}, {"hash": "vmOmLaqYPc", "uri": "/contracts/vmOmLaqYPc#libor-interest-rate", "label": "Term Loan Agreement (Vornado Realty Lp)", "score": 29.824092865, "published": true}], "hash": "e0d9f1d38d7da5bbaad2836801d8c3f1", "id": 4}, {"snippet_links": [{"key": "other-entity", "type": "definition", "offset": 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"offset": [997, 1008]}, {"key": "basis-of", "type": "clause", "offset": [1109, 1117]}, {"key": "the-rates", "type": "clause", "offset": [1118, 1127]}, {"key": "offered-by", "type": "definition", "offset": [1161, 1171]}, {"key": "a-day", "type": "definition", "offset": [1237, 1242]}, {"key": "london-interbank-market", "type": "clause", "offset": [1399, 1422]}, {"key": "commencing-on", "type": "clause", "offset": [1457, 1470]}, {"key": "representative-amount", "type": "clause", "offset": [1568, 1589]}, {"key": "the-calculation-agent", "type": "definition", "offset": [1591, 1612]}, {"key": "the-bank-will", "type": "clause", "offset": [1635, 1648]}, {"key": "principal-london-office", "type": "definition", "offset": [1661, 1684]}, {"key": "a-quotation", "type": "definition", "offset": [1727, 1738]}, {"key": "arithmetic-mean", "type": "definition", "offset": [1940, 1955]}, {"key": "as-requested", "type": "clause", "offset": [2021, 2033]}, {"key": "major-banks", "type": "definition", "offset": [2206, 2217]}, {"key": "new-york-city-time", "type": "definition", "offset": [2331, 2349]}, {"key": "loans-in-dollars", "type": "clause", "offset": [2355, 2371]}, {"key": "to-the-bank", "type": "clause", "offset": [2635, 2646]}, {"key": "the-procedure", "type": "clause", "offset": [2662, 2675]}, {"key": "based-on", "type": "definition", "offset": [2866, 2874]}, {"key": "interest-rates", "type": "definition", "offset": [2879, 2893]}, {"key": "calculation-agents", "type": "definition", "offset": [2912, 2930]}, {"key": "the-foregoing", "type": "clause", "offset": [2948, 2961]}, {"key": "first-day", "type": "definition", "offset": [3141, 3150]}, {"key": "city-shall", "type": "clause", "offset": [3209, 3219]}], "snippet": "means the \u201cUSD-LIBOR-ICE,\u201d which is the rate administered by the ICE Benchmark Administration (or any other entity which takes over the administration of that rate) for deposits in Dollars for a period of three (3) months that appears on the relevant page of the pages Bloomberg Financial Markets Service or Reuters Service, or, if unavailable, on the relevant page of any other service selected by the Bank that displays such rate, as of 11:00 a.m., London time, on the day that is two (2) London Banking Days preceding the Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter. If such LIBOR Interest Rate does not appear on the relevant page, the LIBOR Interest Rate for that Interest Rate Determination Date of the LIBOR- Based Interest Rate for each Quarter will be determined as if the Parties had specified \u201cUSD-LIBOR-Reference Banks\u201d as the applicable LIBOR Interest Rate. For these purposes, \u201cUSD-LIBOR-Reference Banks\u201d means that the LIBOR Interest Rate for an Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter will be determined on the basis of the rates at which deposits in Dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on a day that is two (2) London Banking Days preceding that Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter to prime banks on the London interbank market for a period of three (3) months, commencing on that Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter and in a Representative Amount. The Calculation Agent or Agents utilized by the Bank will request the principal London office of each of the Reference Banks to provide a quotation of the LIBOR Interest Rate. If at least two (2) quotations are provided, the LIBOR Interest Rate for that Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter will be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the LIBOR Interest Rate for that Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter will be the arithmetic mean of the rates quoted by the major banks in New York City, selected by the Calculation Agent or Agents utilized by the Bank, at approximately 11:00 a.m., New York City time, for loans in Dollars to the leading European banks for a period of three (3) months commencing on that Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter and in a Representative Amount. If more than one Calculation Agent provides a LIBOR Interest Rate to the Bank as a result of the procedure described above, the Bank will determine, at its own discretion, the applicable LIBOR Interest Rate on an Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter, based on the interest rates received from the Calculation Agents. For purposes of the foregoing provision, if the Interest Rate Determination Date of the LIBOR-Based Interest Rate for each Quarter is not a Banking Day in New York City, the LIBOR Interest Rates quoted on the first day immediately thereafter which is a Banking Day in New York City shall be utilized.", "size": 13, "samples": [{"hash": "gJGUaRhHamU", "uri": "/contracts/gJGUaRhHamU#libor-interest-rate", "label": "Loan Contract", "score": 31.5908756256, "published": true}, {"hash": "1uTnjD9VqAq", "uri": "/contracts/1uTnjD9VqAq#libor-interest-rate", "label": "Amendatory Contract", "score": 31.3362998962, "published": true}, {"hash": "7uvjyMcV6lp", "uri": "/contracts/7uvjyMcV6lp#libor-interest-rate", "label": "Loan Contract", "score": 31.1556339264, "published": true}], "hash": "ebfabf5ba93683a6edf12dcf704473c0", "id": 5}, {"snippet_links": [{"key": "sum-of", "type": "clause", "offset": [10, 16]}, {"key": "libo-rate", "type": "clause", "offset": [44, 53]}, {"key": "per-annum", "type": "clause", "offset": [85, 94]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [96, 125]}, {"key": "term-loan", "type": "clause", "offset": [134, 143]}, {"key": "base-rate-loan", "type": "definition", "offset": [154, 168]}, {"key": "the-interest-rate", "type": "clause", "offset": [170, 187]}, {"key": "reference-to", "type": "definition", "offset": [211, 223]}, {"key": "the-base-rate", "type": "definition", "offset": [224, 237]}], "snippet": "means the sum of (a) the greater of (i) the LIBO Rate or (ii) 1.00%, plus (b) 11.00% per annum. Notwithstanding the foregoing, if any Term Loan becomes a Base Rate Loan, the Interest Rate shall be calculated by reference to the Base Rate.", "size": 10, "samples": [{"hash": "eyOxi0VNJQx", "uri": "/contracts/eyOxi0VNJQx#libor-interest-rate", "label": "Credit Agreement (Ipass Inc)", "score": 29.9308700562, "published": true}, {"hash": "btaBCPsIq9T", "uri": "/contracts/btaBCPsIq9T#libor-interest-rate", "label": "Credit Agreement (Ipass Inc)", "score": 29.867898941, "published": true}, {"hash": "dYjgAzZufMt", "uri": "/contracts/dYjgAzZufMt#libor-interest-rate", "label": "Credit Agreement (Ipass Inc)", "score": 29.6023273468, "published": true}], "hash": "3390c6db9a2c3f530b560fe6bc5ff46a", "id": 6}, {"snippet_links": [], "snippet": "Shall have the meaning ascribed to such term in Section 2(a) hereof.", "size": 9, "samples": [{"hash": "jhIf0z9oSBU", "uri": "/contracts/jhIf0z9oSBU#libor-interest-rate", "label": "Promissory Note (Golf Ventures Inc)", "score": 18.0, "published": true}, {"hash": "iwhpnxmpQEA", "uri": "/contracts/iwhpnxmpQEA#libor-interest-rate", "label": "Promissory Note (Golf Ventures Inc)", "score": 18.0, "published": true}, {"hash": "ec2swR4ZCgM", "uri": "/contracts/ec2swR4ZCgM#libor-interest-rate", "label": "Promissory Note (Golf Ventures Inc)", "score": 18.0, "published": true}], "hash": "7016da97f59c69d2433aeb49dd2e7a4c", "id": 7}, {"snippet_links": [{"key": "annual-rate-of-interest", "type": "clause", "offset": [9, 32]}, {"key": "basis-of", "type": "clause", "offset": [51, 59]}, {"key": "the-applicable", "type": "clause", "offset": [131, 145]}, {"key": "based-on", "type": "definition", "offset": [185, 193]}, {"key": "most-recent", "type": "definition", "offset": [198, 209]}, {"key": "compliance-certificate", "type": "definition", "offset": [230, 252]}, {"key": "on-a-quarterly-basis", "type": "definition", "offset": [262, 282]}, {"key": "in-accordance-with", "type": "definition", "offset": [283, 301]}, {"key": "the-loan-agreement", "type": "clause", "offset": [327, 345]}, {"key": "applicable-margins", "type": "definition", "offset": [375, 393]}], "snippet": "means an annual rate of interest calculated on the basis of a 360 day year which is equivalent to LIBOR (as elected by Maker) plus the applicable margin based upon the Maker's leverage based on the most recent quarter's Borrowing Compliance Certificate measured on a quarterly basis in accordance with Section 3.1(a)(vi) under the Loan Agreement (\"Borrower's Leverage\"). The applicable margins (\"Applicable Margins\") are as follows:", "size": 8, "samples": [{"hash": "8UWvyRRljeh", "uri": "https://www.sec.gov/Archives/edgar/data/835664/000095014499001746/5.txt", "label": "Revolving Promissory Note (Koger Equity Inc)", "score": 4.0, "published": false}, {"hash": "3APt4xx0yl2", "uri": "https://www.sec.gov/Archives/edgar/data/835664/000095014499001746/4.txt", "label": "Amended and Restated Revolving Credit Loan Agreement (Koger Equity Inc)", "score": 4.0, "published": false}, {"hash": "knHyGNzv3FU", "uri": "https://www.sec.gov/Archives/edgar/data/835664/000095014499001746/3.txt", "label": "Amended and Restated Revolving Credit Loan Agreement (Koger Equity Inc)", "score": 4.0, "published": false}], "hash": "d8b6ae481d596e006285b0a1a5b601d5", "id": 8}, {"snippet_links": [{"key": "interest-period", "type": "definition", "offset": [8, 23]}, {"key": "applicable-to", "type": "clause", "offset": [24, 37]}, {"key": "libor-loan", "type": "clause", "offset": [40, 50]}, {"key": "interest-rate-per-annum", "type": "definition", "offset": [55, 78]}, {"key": "a-percentage", "type": "definition", "offset": [93, 105]}, {"key": "by-the-bank", "type": "clause", "offset": [118, 129]}, {"key": "pursuant-to-the", "type": "definition", "offset": [130, 145]}, {"key": "definition-of", "type": "clause", "offset": [239, 252]}, {"key": "reserve-rate", "type": "clause", "offset": [264, 276]}, {"key": "change-in", "type": "clause", "offset": [360, 369]}, {"key": "the-reserve", "type": "clause", "offset": [370, 381]}], "snippet": "For any Interest Period applicable to a LIBOR Loan, an interest rate per annum, expressed as a percentage, determined by the Bank pursuant to the following formula: LIR = LIBOR + 1.0 [1.00 \u2013 RR] Where LIR = LIBOR Interest Rate LIBOR = See definition of LIBOR RR = Reserve Rate The LIBOR Interest Rate will be adjusted during any Interest Period to reflect any change in the Reserve Rate during such Interest Period.", "size": 7, "samples": [{"hash": "cHFXGFLqNv4", "uri": "/contracts/cHFXGFLqNv4#libor-interest-rate", "label": "Term Loan Agreement (Essential Therapeutics Inc)", "score": 21.0, "published": true}], "hash": "98570cde1f55b32d59fa6d3761b51760", "id": 9}, {"snippet_links": [{"key": "interest-accrual-period", "type": "clause", "offset": [15, 38]}, {"key": "libor-rate", "type": "clause", "offset": [44, 54]}, {"key": "note-spread", "type": "definition", "offset": [97, 108]}], "snippet": "means, for any Interest Accrual Period, the LIBOR Rate for such Interest Accrual Period plus the Note Spread.", "size": 5, "samples": [{"hash": "51KmcvusP4E", "uri": "/contracts/51KmcvusP4E#libor-interest-rate", "label": "Loan Agreement", "score": 31.3408622742, "published": true}, {"hash": "5rJcvWszhyx", "uri": "/contracts/5rJcvWszhyx#libor-interest-rate", "label": "Loan Agreement (Ashford Hospitality Trust Inc)", "score": 23.1574268341, "published": true}, {"hash": "fIXeZ68NXDi", "uri": "/contracts/fIXeZ68NXDi#libor-interest-rate", "label": "Loan Agreement (Ashford Hospitality Trust Inc)", "score": 21.0, "published": true}], "hash": "c516401621c32c32e678272fad6b7a1e", "id": 10}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIcbGlib3ItaW50ZXJlc3QtcmF0ZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"title": "LIBOR Interest Rate", "snippet": "means, for each LIBOR Loan for the relevant Interest Period, the rate per annum (rounded upward, if necessary, to the nearest one-sixteenth of 1%) determined by the Agent to be equal to the quotient of (a) the London Interbank Offered Rate for such LIBOR Loan for such Interest Period divided by (b) one minus the Eurocurrency Reserve Requirement for such Interest Period.", "size": 289, "id": "libor-interest-rate", "examples": ["Borrower shall pay interest to Administrative Agent for the account of the applicable Bank on the outstanding and unpaid principal amount of the Loans, at a rate per annum as follows: (1) for Base Rate Loans at a rate equal to the Base Rate plus the Applicable Margin; (2) for LIBOR Loans at a rate equal to the applicable <strong>LIBOR Interest Rate</strong> plus the Applicable Margin; and (3) for Bid Rate Loans at a rate equal to the applicable LIBOR Bid Rate.", "The rate of interest payable on any LIBOR Loan will be the <strong>LIBOR Interest Rate</strong> applicable thereto.", "Borrower shall pay interest to Administrative Agent for the account of the applicable Bank on the outstanding and unpaid principal amount of the Loans, at a rate per annum as follows: (1) for Base Rate Loans at a rate equal to the Base Rate plus the Applicable Margin and (2) for LIBOR Loans at a rate equal to the applicable <strong>LIBOR Interest Rate</strong> plus the Applicable Margin.", "The <strong>LIBOR Interest Rate</strong> shall be computed in accordance with the following formula.", "The Parties agree that, notwithstanding any change in market practice that may, at any moment, affect the determination of the <strong>LIBOR Interest Rate</strong>, the Borrower\u2019s payments shall remain linked to the Bank&#x27;s funding.", "The Parties agree that, notwithstanding any change in market practice that may, at any moment, affect the determination of the <strong>LIBOR Interest Rate</strong>, the Borrower\u2019s payments shall remain linked to the Bank\u2019s funding.", "Subject to the terms and conditions of the Agreement the Borrower may elect that all or portions of the principal balance of this Revolving Note bear interest at the <strong>LIBOR Interest Rate</strong> plus 1.25% (the &quot;<strong>LIBOR Interest Rate</strong> Option&quot;).", "A Loan tied to the <strong>LIBOR Interest Rate</strong> is called a \u201cLIBOR Loan,\u201d and a Loan tied to the Prime Rate is called a \u201cPrime Loan.\u201d A Loan will be a Prime Loan any time it is not a LIBOR Loan.", "Unless the Borrower chooses the <strong>LIBOR Interest Rate</strong> Option as defined below, the principal balance outstanding under this Revolving Note shall bear interest at an annual rate equal to the Base Rate, less 1.0% floating (the &quot;Base Rate Option&quot;).", "At any time that an Event of Default shall have occurred and be continuing, the Term Loans shall no longer bear interest at the <strong>LIBOR Interest Rate</strong> and the Lender shall have the right to convert all outstanding LIBO Rate Loans to Base Rate Loans."], "related": [["libor-interest-period", "LIBOR Interest Period", "LIBOR Interest Period"], ["prime-interest-rate", "Prime Interest Rate", "Prime Interest Rate"], ["reserve-interest-rate", "Reserve Interest Rate", "Reserve Interest Rate"], ["minimum-interest-rate", "Minimum Interest Rate", "Minimum Interest Rate"], ["libor-daily-floating-rate", "LIBOR Daily Floating Rate", "LIBOR Daily Floating Rate"]], "related_snippets": [], "updated": "2025-07-10T05:58:13+00:00"}, "json": true, "cursor": ""}}