LIBOR Swap Rate definition

LIBOR Swap Rate means, the fixed rate, determined by the Authority as of the date of calculation, that would be paid by a party to an interest rate swap agreement to receive payments based upon the LIBOR Index assuming (i) a maturity date on such swap agreement equal to the maturity date of the applicable Variable Rate Bonds, (ii) the notional amount of such swap agreement amortizes in the same manner and on the same timing as the scheduled amortization of the principal amount of such Variable Rate Bonds and (iii) the payment dates under the interest rate swap agreement match or are substantially similar to the payment dates of such Variable Rate Bonds.
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LIBOR Swap Rate means five (5) year LIBOR Swap Rate as published in the Wall Street Journal on any applicable date. In the event the LIBOR Swap Rate ceases to be published in the Wall Street Journal or such other quoting or commonly available reporting source generally used by the Payee for pricing its commercial loans, the LIBOR Swap Rate shall be derived by reference to a substitute index selected by the Payee in the Payee’s sole discretion.
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LIBOR Swap Rate means the five-year or seven-year, as elected by Borrower, LIBOR/Swap Rate per annum for an interest period of five years or seven years, as applicable, determined by Agent as of the start of such interest period, as quoted for U.S. Dollars by Bloomberg or other comparable service selected by Agent. This definition is to be strictly interpreted and is not intended to serve any purpose other than providing an index to determine the interest rate used herein. This rate may not necessarily be the same as the quoted offered side in the Eurodollar time deposit market by any particular institution or service applicable to any interest period.
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Examples of LIBOR Swap Rate in a sentence

  • If the Conversion Option is exercised, the fixed rate of interest shall be calculated on the 1-year LIBOR Swap Rate, as hereafter defined, at the time of conversion plus three and ninety hundredths percent (3.90%) (“Conversion Rate”).

  • Lessor may adjust a Lease’s Payment Amount if there is a difference between the Swap Rate listed on the Lease and the half-term LIBOR Swap Rate as published by the United States Federal Reserve Board on that Lease’s Commencement Date of Lease.

  • If Borrower fails to fully execute and return the Loan Documents within 5 business days of the original date of this Agreement, Lender shall have the right to adjust the interest rate applicable to the Promissory Note to reflect any increase in the LIBOR Swap Rate as of the date Borrower does, in fact, execute the Loan Documents over the LIBOR Swap Rate originally used in setting the interest rate applicable to the Promissory Note.

Related to LIBOR Swap Rate

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 3(b)(ii), either:

  • Swap Rate means the US-Dollar denominated interbank interest rate swap rates/LIBOR offered rates as shown on Reuters page ICAP and other comparable brokerage pages, adjusted for the chosen interest rate method (annual/semi-annual compounding, etc.).

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR 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 approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Mid-Market Swap Rate means for any Reset Period the mean of the bid and offered rates for the fixed leg payable with a frequency equivalent to the frequency with which scheduled interest payments are payable on the Notes during the relevant Reset Period (calculated on the day count basis customary for fixed rate payments in the Relevant Currency as determined by the Calculation Agent) of a fixed-for-floating interest rate swap transaction in the Relevant Currency which transaction (i) has a term equal to the relevant Reset Period and commencing on the relevant Reset Date, (ii) is in an amount that is representative for a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market and (iii) has a floating leg based on the Mid-Swap Floating Leg Benchmark Rate for the Mid-Swap Maturity (calculated on the day count basis customary for floating rate payments in the Relevant Currency as determined by the Calculation Agent);