London Rate definition

London Rate means the interest rate (rounded upward to the nearest 1/16th of one percent) at which the Bank's London Branch, London, Great Britain, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter-bank market at approximately 11:00 a.m. London time two (2) banking days before the commencement of the interest period.
View Source
London Rate means the interest rate (rounded upward to the nearest 1/16th of one percent) at which the Bank's London Branch, London, Great Britain, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter-branch market at approximately 11:00 a.m. London time two (2) Banking Days prior to the commencement of the interest period. (ii) "Reserve Percentage" means the total of the maximum reserve percentages for determining the reserves to be maintained by member banks of the Federal Reserve System for Eurocurrency Liabilities, as defined in the Federal Reserve Board Regulation D, rounded upward to the nearest 1/100 of one percent. The percentage will be expressed as a decimal, and will include, but not be limited to, marginal, emergency, supplemental, special and other reserve percentages.
View Source
London Rate is defined in SECTION 4.3(D)(I) of this Agreement.
View Source

Examples of London Rate in a sentence

  • The London Rate and Cayman Rate shall have the meanings as defined in the Syndicated Credit Agreement.

  • Instead of the interest rate based on the Base Rate, the Borrower may elect to have all or portions of the principal amount outstanding under this facility bear interest at the London Rate plus the Applicable Margin or the Cayman Rate plus the Applicable Margin.

  • Thereafter, the obligation of the Banks to make or maintain London Rate Loans or Cayman Rate Loans, as the case may be, hereunder shall be suspended until the notice is revoked in writing.

  • Instead of the interest based on the Base Rate, the Borrower may elect to have all or portions of the principal amount outstanding under this facility bear interest at the London Rate plus the Applicable Margin or the Cayman Rate plus the Applicable Margin.

  • If the Company does not revoke such Notice, the Banks shall make, convert or continue the Loans, as proposed by the Company, in the amount specified in the applicable notice submitted by the Company, but such Loans shall be made, converted or continued as Base Rate Loans instead of London Rate Loans or Cayman Rate Loans, as the case may be.

  • The Agent will notify the Company of any such London Rate Loans or Cayman Rate Loans converted into Base Rate Loans under the preceding sentence.


More Definitions of London Rate

London Rate means the interest rate (rounded upward to the nearest 1/16th of one percent) at which the Bank's London Branch, London, Great Britain, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter−bank market at approximately 11:00a.m. London time two (2) banking days before the commencement of the interest period.
View Source
London Rate means the interest rate (rounded upward to the nearest 1/16th of one percent) at which the Bank's London Branch,
View Source
London Rate means the interest rate (rounded upward to the nearest 1/16th of one percent) at which the London Branch, London, Great Britain, of Bank of America National Trust and Savings Association, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter-bank market at approximately 11:00 a.m. London time two
View Source
London Rate means, for any Interest Period, with respect to London Rate Loans comprising part of the same Borrowing, the rate of interest per annum (rounded upward to the next 1/16th of 1%) determined by the Agent as follows: London Rate = LIBOR ------------------------------------- 1.00 - Eurodollar Reserve Percentage Where,
View Source
London Rate means the interest rate (rounded upward to the nearest 1/16th of one percent) determined as follows:
View Source

Related to London Rate

  • Interbank Rate means, for any period, (a) in respect of Loans denominated in Dollars, the Federal Funds Effective Rate and (b) in respect of Loans denominated in any other currency, the Agent’s cost of funds for such currency (as reasonably determined by the Agent) for such period.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Treasury Index Rate means the average yield to maturity for actively traded marketable fixed interest rate U.S. Treasury Securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15(519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Corporation by at least three recognized dealers in U.S. Government Securities selected by the Corporation.